Summit Properties Limited Q1 2019 Unaudited Key Performance Indicators (5380A)
May 30 2019 - 2:00AM
UK Regulatory
TIDMSMTP
RNS Number : 5380A
Summit Properties Limited
30 May 2019
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation.
Summit Properties Limited
(the "Company")
Q1 2019 Unaudited Key Performance Indicators
Summit Properties Limited, the AIM-listed German commercial
property investment company, is pleased to announce its unaudited
key performance indicators for the three months ended 31 March
2019:
Profits
-- Net profit of EUR10.2 million (Q1 2018: EUR7.3 million, FY 2018: EUR289.6 million)
-- Profit Before Tax (PBT) of EUR11.3 million (Q1 2018: EUR8.5
million, FY 2018: EUR334.2 million)
-- EBITDA of EUR15.5 million (Q1 2018: EUR11.3 million, FY 2018: EUR345.4 million)
-- Gross profit of EUR20.5 million (Q1 2018: EUR14.6 million, FY 2018: EUR64.8 million)
NAV
-- EPRA NAV of EUR880.2 million (FY 2018: EUR866.0 million)
-- Group's NAV of EUR791.5 million (FY 2018: EUR782.0 million)
-- NAV and EPRA NAV per share of EUR1.73/EUR1.92 (FY 2018: EUR1.68/EUR1.89)
Rent
-- Rental income increased 27.7% to EUR20.3 million (Q1 2018:
EUR15.9 million, FY 2018: EUR67.4 million)
-- Funds From Operations (FFO) 42.6% up to EUR14.4 million (Q1
2018: EUR10.1 million, FY 2018: EUR44.3 million), including profit
of EUR1.6 million from residential development
Portfolio
-- Total Assets of EUR1.5 billion (FY 2018: EUR1.5 billion)
-- Revaluation expense of EUR1.2 million (Q1 2018: EUR1.3
million expense, FY 2018: EUR297.5 million profit)
-- 91% occupancy over the portfolio's majority (89% including properties for re-development)
-- New leases and renewals for approximately 46,000 sqm securing
rental income of ca. EUR4.2 million p.a.
For further information please contact:
Summit Properties Limited Tel: +44 (0) 1481 700 300
Zohar Levy - Managing Director
Itay Barlev (Braun) - Finance Director
Non-Executive Chairman Tel: +44 (0) 20 7451 7050
Harry Hyman
Carey, Company Secretary Tel: +44 (0) 1481 700 300
Chris Le Page / Nikolett Mezei
Liberum Capital Limited, Nominated Adviser Tel: +44 (0) 20 3100 2222
and Joint Broker
Chris Clarke / Gillian Martin / Owen Matthews
Cenkos Securities, Joint Broker Tel: +44 (0) 20 7397 8900
Mark Connelly
Russell Kerr / Selwyn Jones (Broking)
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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