|
«(Comparative figures Q1 2009 results in brackets; unless stated otherwise)
Quote Gerard Groener (CEO): 'It has been an exciting beginning of the year for Corio. Next to the Multi deal and accompanying successful Accelerated Book Building we also announced two transactions of operational shopping centres in Italy. Looking at the small but nevertheless positive result on valuations in the first quarter of 2010 for Corio we are again working on the future, growing the portfolio and extending our pipeline in a profitable way, without forgetting the past. Corio is working hard on the integration and kick-start of the new business unit in Germany. We are looking forward to work together with our new colleagues and joint venture partners on a successful future'.
- Net rental income up 2.1% at € 84.5 m (€ 82.8 m).
- Like-for-like net rental growth, retail portfolio: up 0.1% (2.6%).
- Reletting and renewals: 2.2% of the retail contracts were relet or renewed, increase: 3.1%.
- Direct result up 12.7% at € 56.0 m (€ 49.7 m).
- The average financial occupancy rate for the retail portfolio was 96.0% (96.8%).
- Direct result per share down € 0.02 to € 0.73, reflecting the expanded share capital in June 2009.
- Net financing expense fell € 3.5 m to € 23.4 m (€ 26.9m).
- Leverage: 38.0% at 31 March 2010 (year-end 2009: 40.4%); average interest rate in Q1 2010 4.1%; fixed interest debt 60% (year-end 2009: 66%).
- Indirect result was € 12.8 m negative (€ 154.8 m negative).
- Positive valuations of € 2.8 m in Q1 2010 (€ 170.3 m negative).
- Value of the property portfolio (including share of associates and non-controlling interest): € 6,534.1 m at 31 March 2010 vs year-end 2009: € 5,885.5 m; percentage invested in retail: 95%.
- Net profit up € 148.3 m at € 43.2 m (€ 105.1 m negative).
- Pipeline: up € 535 m at € 2,800 m, mainly the result of the recent Multi transaction (31 December 2009: € 2,265 m).
- Fixed committed part of pipeline (excluding already paid): up € 389 m at € 970 m.
- Successful capital increase of € 600 m in March 2010 via Accelerated Book Build (ABB); number of outstanding shares up 17.4%.
- Net Asset Value (NAV) per share was € 44.73 (year-end 2009 € 44.32), Triple NAV (NNNAV) per share was € 47.35 (year-end 2009: € 47.14);
- The General Meeting of Shareholders approved the dividend proposal of € 2.65 ( € 2.64 in cash or shares) per share at the option of the shareholders in cash or shares». (stralcio dal CS della Società).
|
