Gazit Globe Reports Its Results for the Third Quarter and Nine Months Ended September 30, 2019
- Increase of 4.8% in the proportionate NOI in nine months ended September 30, 2019 ("Period") (increase of 9.7% at comparable exchange rates) compared to the same period in 2018; The NOI in the period in the private subsidiaries increased by 26.2% to NIS 328 million (US$ 94 million);
- Same property NOI growth in the period of 5.0% excluding Russia (growth of 4.5% including Russia), compared to the same period in 2018;
- Increase of 26.4% in FFO per share excluding Regency, First Capital and at comparable exchange rates in the period compared to same period in 2018;
- Finance expenses, net, in the expanded solo level, decreased by approx. NIS 111 million (US$ 32 million)(27.4%) and totaled approx. NIS 294 million (US$ 84 million);
- The Company raises the FFO guidance for 2019 to NIS 3.18-3.24 per share;
- The Company raises its annual dividend in 2020 to a minimum of NIS 1.72 per share from NIS 1.62 per share in 2019.
TEL-AVIV, Israel, Nov. 19, 2019 (GLOBE NEWSWIRE) -- Gazit Globe (TASE: GZT), a leading global real estate company focused on the ownership, management and development of income-producing properties or designated income-producing for mixed-use, including retail, office and residential in properties located in densely populated urban areas, announced today its financial results for the third quarter and nine months ended September 30, 2019.
A PDF including full results is available at:
CONFERENCE CALL/WEB CAST INFORMATION
Gazit Globe will host a conference call and webcast in English on Tuesday, November 19, 2019 10:00 am US EST/ 5:00 pm Israel Time, to review the third quarter and nine months period ended September 30, 2019 financial results. Shareholders, analysts and other interested parties can access the conference call by dialing: United States 1 888 281 1167, Canada 1 866 485 2399, United Kingdom 0 800 917 9141, Brazil (Landline only) 0 800 764 6063, International / Israel
A presentation and replay of the call will be available on the company’s website under "Investor Relations" at:
Webcast link:
About Gazit Globe
Gazit Globe is a leading global real estate company focused on the ownership, management and development of income-producing properties or designated income-producing for mixed-use, including retail, office and residential in properties located in densely populated urban areas in North America, Brazil, Israel, Northern, Central and Eastern Europe. Gazit Globe is listed on the Tel Aviv Stock Exchange (TASE: GZT) and is included in the TA-35 index in Israel. As of September 30, 2019, Gazit Globe owns and operates 101 properties, with a gross leasable area of approximately 2.4 million square meters and a total value of approximately NIS 37 billion.
FOR ADDITIONAL INFORMATION
A comprehensive copy of the Company’s financial report is available on Gazit Globe website at
Investors Contact: , Media Contact:
Gazit Globe Headquarters, Tel-Aviv, Israel, Tel:
FORWARD LOOKING STATEMENTS
This release may contain forward-looking statements within the meaning of applicable securities laws. In the United States, these statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of known and unknown risks and uncertainties, many of which are outside our control that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks detailed in our public filings with the SEC and the Canadian Securities Administrators. Except as required by applicable law, we undertake no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events or otherwise.
