EANS-Adhoc
Atrium European Real Estate Limited / FIRST HALF 2016 RESULTS SHOW CONTINUED STEADY OPERATIONAL PROGRESS
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is solely responsible for the content of this announcement.
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is solely responsible for the content of this announcement.
--------------------------------------------------------------------------------
Mid Year Results
17.08.2016
Atrium European Real Estate Limited
("Atrium")
FIRST HALF 2016 RESULTS SHOW CONTINUED STEADY OPERATIONAL PROGRESS
Ad hoc announcement - Jersey, 17 August 2016. Atrium European Real
Estate Limited (VSE/ Euronext: ATRS) (the "Company" and together with
its subsidiaries, the "Group"), a leading owner and manager of
shopping centres and retail real estate in Central and Eastern
Europe, announces its results for the second quarter and six months
ended 30 June 2016.
Highlights: - NRI in the Group's core markets of Poland, Czech
Republic and Slovakia increased by 1.1% to EUR72.3m (6M 2015:
EUR71.5) and 0.5% to EUR 62.2m on a like-for-like basis (6M 2015:
EUR61.9) - Group income continues to be impacted by the situation in
Russia with GRI of EUR98.5m (6M 2015: EUR103.6m), and EPRA
like-for-like GRI of EUR87.6m (6M 2015: EUR92.8m) - Group NRI was
EUR95.6m (6M 2015: EUR97.9m), with EPRA like-for-like NRI of
EUR85.5m (6M 2015: EUR89.0m) - Group operating margin increased from
94.5% to 97.1% mainly due to an improvement in receivables
collection - EPRA occupancy steady at 95.4% (31 December 2015:
96.7%). Russian occupancy remained high at 89.9% - Profit before
taxation was EUR63.7m compared to a loss of EUR4.8m in the first
half of 2015 with the increase primarily driven by a EUR13.6m
revaluation in our core markets (compared to a EUR36.7m devaluation
during the same period last year due to the Russian portfolio) and
a EUR11.3m decrease in finance expenses - Company adjusted EPRA
earnings per share was 15.6 EURcents (6M 2015: 16.0 EURcents) -
EBITDA, excluding revaluation and disposals, was EUR76.1m (6M 2015:
81.3m), mainly as result of lower income in Russia - The value of
Group's portfolio of 62 standing investments stood at EUR2.6
billion (31 December 2015: 77; EUR2.7 billion) - EPRA Net asset value
("NAV") per ordinary share increased slightly to EUR5.65 (31
December 2015: EUR5.64) after first and second quarter dividend of
EUR0.0675 per share paid as capital repayment in March 2016 and June
2016 - Third quarterly dividend of EUR0.0675 per share due to be paid
as a capital repayment on 30 September 2016 to shareholders on the
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