Wereldhave N.V.: Press Release Trading update Q3 2016
October 21 2016 - 1:45AM
- Strong leasing performance continued: occupancy
increases in all countries
- Strategic review Finnish portfolio: Wereldhave to
remain active in Finland
- Outlook reconfirmed: EPS growth 2016 at lower end
of 6%-9% range
- 2016 dividend proposal of € 3.08
Summary
In view of feedback from stakeholders, Wereldhave
has decided to re-install the publication of quarterly trading
updates. The updated financial calendar with publications and
events in 2017 can be found on our corporate website, which has
been redesigned.
The third quarter saw a continuation of our strong
operational performance of the first half of 2016. Occupancy of the
shopping centres as at September 30, 2016 stood at 95.1% (an
increase of 30 bps compared to June 30), with high leasing activity
and improvements in occupancy in all countries. However, we
experience pressure in rental levels in all countries from tenant
rotations after bankruptcies.
In the Netherlands, Wereldhave sold the Pathé
cinema in Tilburg with closing in September 2016. The proceeds will
be reinvested during the fourth quarter of 2016 with the completion
of the acquisition of a HEMA store in Tilburg. Also in the
Netherlands, a smaller shopping centre in Geldrop was sold, with
closing scheduled to take place mid December 2016.
In 2016, Wereldhave made a strategic review of its
presence in Finland. In view of the recent bankruptcy of the
Anttila department store and the Finnish economy which is still
subdued due to an uncertain economical and political environment,
Wereldhave has decided that this is not the right timing for a
disposal of its Finnish asset.
Wereldhave reconfirms its outlook that the direct
result per share for the year 2016 will increase between 6%-9%
compared to 2015, but in view of recent bankruptcies, EPS growth is
expected to be at the lower end of the range.
For 2016, Wereldhave will propose a dividend of €
3.08 (4 quarterly dividends of € 0.77), which is an increase of
2.3% against the previous year, with a pay-out ratio of
approximately 90%.
The final results 2016 will be announced on
February 3, 2017.
READ MORE: www.wereldhave.com
Information for the
press:
Richard W. Beentjes
E richard.beentjes@wereldhave.com
T + 31 20 702 78 39
Information for
analysts:
Jaap-Jan Fit
E jaapjan.fit@wereldhave.com
T + 31 20 702 78 43
2016-10-21-Press Release_Trading
update Q3 2016
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Wereldhave N.V. via Globenewswire
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