Brief: Retail Estates H1 Net Result Up At EUR 24.6 Mln

Retail Estates NV

20/11/2020 17:13

Nov 20 (Reuters) - Retail Estates NV  RETE.BR :
    * HALF-YEAR RESULTS ON 30 SEPTEMBER 2020
    * VALUATION OF REAL ESTATE PORTFOLIO STABLE IN SPITE OF
CORONA
WAVE
    * H1 DECLINE IN EPRA EARNINGS COMPARED TO THE PAST FINANCIAL
YEAR
LIMITED TO € 2.26 MILLION.
    * NEW LOCKDOWN IN BELGIUM AFFECTS LESS RETAIL PROPERTIES IN
RETAIL
ESTATES PORTFOLIO THAN IN APRIL AND MAY
    * NET RESULT (GROUP SHARE) FOR THE FIRST HALF OF THE YEAR
AMOUNTS
TO € 24.64 MILLION
    * MAJORITY OF RETAIL UNITS OF BANKRUPT FNG GROUP (BRANTANO)
TAKEN
OVER BY OTHER PLAYERS IN THE SECTOR UNDER UNCHANGED RENTAL
CONDITIONS
    * DEBT RATIO ON 30 SEPTEMBER 2020 WAS 53.87% COMPARED TO
53.10% ON
31 MARCH 2020
    * RENTAL INCOME FROM CLOSED RETAIL UNITS FOR PERIOD  2
NOVEMBER-13
DECEMBER AMOUNTS TO € 5.83 MILLION ON A PRO RATA TEMPORIS BASIS
    * DIVIDEND FORECAST OF € 4.40 GROSS PER SHARE (€ 3.08 NET
PER
SHARE) IS MAINTAINED IF CURRENT CLOSURE OF SHOPS IN BELGIUM IN
PERIOD UNTIL 31 MARCH 2021 WILL NOT EXCEED TWO MONTHS

Source text for Eikon:  ID:nNDL505Tcc 
Further company coverage:  RETE.BR 

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