Care Property Invest - Resilient results but conservative guidance
• Rental income emerged at EUR 65.9m, up +21% YoY (+10.46% LfL). • EPRA adjusted earnings landed at EUR 38m, up +10.6% YoY.• Due to higher outstanding shares, EPRA adjusted EPS amounted to EUR 1.03 vs EUR 1.24 in FY22, down -17.1% YoY.• The dividend proposal stands at EUR 1.00 per share, in-line with the guidance (pay-out of 97%).• Appraisal value was fairly stable in Q4 (-0.5%) and down -2.5% LfL overall in 2023.• Given the current uncertainties, the management provided a conservative guidance with EPS expected between EUR 1.00 and EUR 1.02 for FY24 with a stable dividend at EURCare Property Invest NV. Care Property Invest NV, formerly Serviceflats Invest NV, is a Belgium-based real estate investment company that builds and finances housing for pensioners. The Company specializes in premises equipped with technologies ensuring safety and comfort of elderly people. In addition, Care Property Invest designs, builds, supervises the progress of a number of construction works, monitors the budget and finances projects in the long term. Care Property Invest NV cooperates mainly for public health care center in Antwerp -Openbaar Centrum voor Maatschappelijk Welziijn (OCMW), including Berchem. The Company focuses its activities on the Belgian market. It operates through a number of subsidiaries, such as Ter Bleuk NV, Siger SA and Konli BVBA and VSP Wolvertem bvba.
We are an investment house with Belgian roots founded on more than 150 years of trust.
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