Vastned Retail Belgium: Interim statement by the Board of Directors as at 30 September for the third quarter of financial year 2020
Final agreements were concluded with over 95% of the lessees affected by the lockdown.
Occupancy rate during the third quarter (97.3%) remained stable compared to 30 June 2020.
Limited decrease in the fair value of the existing real estate portfolio (-0.7%) compared to the first semester of 2020.
€20.2 million of unused credit facilities available.
Further decrease in the debt ratio (-0.7%) compared to the first semester of 2020, which means that the debt ratio is now 30.9%.
Expected EPRA earnings of € 2.35 - € 2.45 per share for financial year 2020.
In October 2020, a sales agreement was concluded for the sale of a non-strategic retail park located in Schaarbeek with a capital gain of €1.5 million. This capital gain has not yet been recognized in the results for the first nine months of the financial year.
Management’s focus in 2020 primarily on timely collection of rents and maintaining the high occupancy rate for the portfolio.
Nomination of Reinier Walta to strategic CEO ad interim, taking over the tasks of the strategic CEO within the executive committee, as of 1 December 2020.
Full press release:
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