Brief: Vastned Belgium Q1 Net Loss Turns To Profit Of 4.1 Million Euros

VastNed Retail NV

02/05/2022 17:11

May 2 (Reuters) - Vastned Retail NV  VASN.AS :
    * Q1 VASTNED BELGIUM REALISES A POSITIVE NET RESULT OF € 4.1
MILLION.
    * Q1 HIGH OCCUPANCY RATE OF 98.9% UNDERLINES QUALITY OF
EXISTING
REAL ESTATE PORTFOLIO.
    * STABLE COLLECTION RATE (99.2%) OF RENTAL INCOME DURING Q1
OF
2022
    * A FURTHER DECREASE IN THE DEBT RATIO (-1.0%) COMPARED TO
31
DECEMBER 2021, BRINGING THE DEBT RATIO CURRENTLY TO 25.5%
    * COVID-19 PANDEMIC HAD NO EFFECT ON VASTNED BELGIUM’S
RENTAL
INCOME DURING Q1 OF 2022
    * GROSS DIVIDEND TO BE PAID FOR THE FINANCIAL YEAR 2021 HAS
BEEN
SET AT € 2.20 PER SHARE
    * THE DIVIDEND IS PAYABLE AS OF 12 MAY 2022, BASED ON THE
SHAREHOLDING AS AT 11 MAY 2022
    * Q1 RENTAL INCOME EUR 4.3 MILLION VERSUS 4.2 MILLION YEAR
AGO
    * Q1 NET RESULT EUR 4.1 MILLION VERSUS EUR LOSS OF EUR 1.8
MILLION
YEAR AGO
    * Q1 OPERATING INCOME EUR 3.5 MILLION VERSUS LOSS EUR 1.5
MILLION
YEAR AGO
    * WAR IN UKRAINE AND THE ECONOMIC SANCTIONS AGAINST RUSSIA,
WHICH
ARE EXPECTED TO CONTINUE FOR SOME TIME, HAVE ENORMOUSLY IMPACTED
SUPPLY CHAINS AND MORE SPECIFICALLY THE COMMODITY MARKET
    * CURRENTLY, VASTNED BELGIUM IS AFFECTED TO A LIMITED EXTENT
BY
THIS ECONOMIC UNCERTAINTY, IN PART DUE TO RISING INFLATION
    * COMPANY CONTINUES TO OPERATE ON A SOLID BASIS DUE TO A
STABLE,
LOW DEBT RATIO AND THE AVAILABILITY OF UNUSED CREDIT FACILITIES
    * EXISTING CREDIT FACILITIES ARE ALSO GUARANTEED FOR A
WEIGHTED
AVERAGE TERM OF 2.2 YEARS.
    * IN THE MONTHS AHEAD, THE COMPANY WILL CONTINUE TO SEEK NEW
INVESTMENT OPPORTUNITIES THAT FIT WITHIN VASTNED BELGIUM’S
STRATEGY
    * GIVEN THE AVAILABLE UNUSED CREDIT FACILITIES, THE COMPANY
WILL
BE ABLE TO MOVE QUICKLY WHEN A SUITABLE INVESTMENT OBJECT IS
PRESENTED
    * IN THE CURRENT MARKET CONDITIONS WHICH ARE CHARACTERISED
BY
UNCERTAINTY, A CHANGING RETAIL ENVIRONMENT AND RISING INTEREST
RATES, FINDING SUITABLE INVESTMENTS REMAINS CHALLENGING

Source text for Eikon:  ID:nGNE7KHV85 
Further company coverage:  VASN.AS 

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