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.

Half yearly financial statement 2017