“FINANCIAL HIGHLIGHTS FOR NINE MONTHS ENDED 30 SEPTEMBER 2009
(Comparative figures for 9M 2008 results in brackets; unless stated otherwise)
- Net rental income (including minority interest) from continuing operations up 6.8% at € 251.0 m (€ 235.0 m).
- Like-for-like net rental growth, total portfolio: 1.6% (4.3%), like-for-like net rental growth, retail portfolio: 1.8% (4.5%)
- Reletting and renewals: 5.1% of the retail contracts re-let or renewed, increase: 8.1%.
- Direct result (excluding minority interest) up 4.0% at € 162.2 m (€ 156.0 m).
- The average financial occupancy rate for the retail portfolio was 96.4% (97.7%).
- Direct result per share down € 0.07 to € 2.29, this is the result of the recently increased number of shares.
- Net financing expense decreased € 24.1 m to € 72.3 m.
- Indirect result(excluding minority interests) was € 314.0 m negative (€ 123.7 m negative).
- Value of the property portfolio (including share of associates and minority interests): € 5,917 m vs year-end 2008: € 6,039 m; percentage invested in retail: 93%.
- Pipeline (excluding already paid): down € 277 m to € 2,062 m.
- Committed part of pipeline (excluding already paid): up € 29 m to € 533 m.
- Successful capital increase of € 258 m in June 2009 via Accelerated Book Build (ABB).
- Net Asset Value (NAV) per share fell 15.2% to € 44.24 (year-end 2008 € 52.20), Triple NAV (NNNAV) per share fell by 18.6% to € 47.21 (year-end 2008: € 57.98);
- Leverage: 40.5% at 30 September 2009 (year-end 2008: 40.1%); average interest rate in Q3 2009 lower at 4.0%; fixed interest debt 62% (year-end 2008: 65%)” (CS della Società).
