Aedifica - In-line results hindered by gloomy guidance
Rental income emerged at EUR 314.2m, up 15% YoY and 5.2% LfL, mainly driven by indexation (5.6%).EPRA earnings stand at EUR 219.6m, up 21% YoY (EUR 5.02per share, +5.5% YoY), benefiting from a one-off result of EUR 9m due to the obtention of the FBI status in the Netherlands for the financial years from 2016 to 2021.The proposed dividend emerged at EUR 3.80 per share, in-line with the guidance, to be distributed in May.Portfolio appraised value stands at EUR 5.849bn, down -2.2% on a LfL basis over 12 months (-1.3% over 6 months as of the end of June).EPRA NTAAedifica is a property company, which is specialized in residential real estate. Co.'s portfolio has a superstructure of more than 225,911 sq. m as of June 30 2010. It owns: residential or mixed buildings in Belgian cities with classical leases; buildings with furnished apartments buildings in the heart of Brussels with shorter term leases; senior houses and serviceflats with very long term and triple net leases; and hotels. Co. invests: in existing and already leased buildings; and in projects with future completion. Co.'s activities can be divided into four segments: Residential or mixed buildings; Furnished apartments buildings; Senior houses; and Hotels and others.
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