Press release
20 July 2017, 08:00 AM CEST
Profit
During the first half year, the profit, resulting from core and non-core activities, amounted to € 20.2 mln (2016: € 19.5 mln). Compared to the same period in 2016, this increase in profit is the result of a lower result from core activities (€ -0.8 mln) and a higher result from non-core activities (€ 1.4 mln).
Result from core activities
Wereldhave Belgium obtained a result from core activities of € 19.9 mln (2016: € 20.6 mln) over the first six months. Rental income increased by € 0.1 mln. Real estate expenses remained almost stable and general expenses and other operating income and expenses increased by € 0.9 mln (of which € 0.5 mln non-recurring).
Historical low interest rates had as a consequence that interests remained at the same level (€ 1.2 mln) over the same period last year.
As a result of higher liquidation benefits, related to the real estate certificates in liquidation 'Ring Shopping Kortrijk Noord' and 'Basilix', € 0.3 mln was recognised as a one off financial income.
This brings the result from core activities per share to € 2.86 (2016: € 2.97).
The Epra occupancy rate per sector on 30 June 2017 (31 March 2017) were 95.7% (95.6%) for retail and 92.0% (90.6%) for offices.
Result from non-core activities
The result from non-core activities amounts to € 0.3 mln (2016: € -1.1 mln). The result from non-core activities consists essentially of valuation and disposal results related to the investment properties portfolio. In the first half year, the value of the portfolio remained fairly stable.