Summit Properties Limited H1 2019 Unaudited Key Performance Indicators (6186K)
August 30 2019 - 2:02AM
UK Regulatory
TIDMSMTP
RNS Number : 6186K
Summit Properties Limited
30 August 2019
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation.
Summit Properties Limited
(the "Company")
H1 2019 Unaudited Key Performance Indicators
Summit Properties Limited, the AIM-listed German commercial
property company, is pleased to announce its unaudited key
performance indicators for the six months ended 30 June 2019:
Profits
-- Gross profit of EUR39.5 million (H1 2018: EUR29.1 million, FY 2018: EUR64.8 million)
-- Net profit of EUR47.8 million (H1 2018: EUR87.1 million, FY 2018: EUR289.6 million)
-- Profit Before Tax (PBT) of EUR56.3 million (H1 2018: EUR102.1
million, FY 2018: EUR334.2 million)
-- EBITDA of EUR64.2 million (H1 2018: EUR107.2 million, FY 2018: EUR345.4 million)
NAV
-- EPRA NAV of EUR922.0 million (FY 2018: EUR866.0 million)
-- Group's NAV of EUR825.7 million (FY 2018: EUR782.0 million)
-- NAV and EPRA NAV per share of EUR1.81/EUR2.02 (FY 2018: EUR1.68/EUR1.89)
Rent
-- Rental income increased 28.6% to EUR40.5 million (H1 2018:
EUR31.5 million, FY 2018: EUR67.4 million)
-- Funds From Operations (FFO) increased 35.2% to EUR26.9
million (H1 2018: EUR19.9 million, FY 2018: EUR44.3 million),
including profit of EUR1.6 million from residential development
Portfolio
-- Total Assets of EUR1.6 billion (FY 2018: EUR1.5 billion)
-- Revaluation profit of EUR38.6 million (H1 2018: EUR91.8
million, FY 2018: EUR296.8 million)
-- 92% occupancy over the portfolio's majority and 91% including
properties for re-development (92% and 90%, respectively as of 31
December 2018)
-- New leases and renewals for approximately 65,000 sqm securing
rental income of ca. EUR5.7 million p.a.
For further information please contact:
Summit Properties Limited Tel: +44 (0) 1481 700 300
Zohar Levy - Managing Director
Itay Barlev - 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)
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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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