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BRIEF-Leasinvest Real Estate Q1 net result falls to 3.5 million euros
May 15, 2017 / 5:35 PM / 5 months ago

BRIEF-Leasinvest Real Estate Q1 net result falls to 3.5 million euros

May 15 (Reuters) - LEASINVEST REAL ESTATE CVA:

* Q1 OCCUPANCY RATE OF THE REAL ESTATE PORTFOLIO OF 95.6 PCT

* THE RENTAL INCOME OVER Q1 2017 REMAINS STABLE COMPARED TO Q1 2016 AT € 14.3 MILLION

* EPRA EARNINGS Q1 2017 HAVE SLIGHTLY DECREASED COMPARED TO Q1 2016 AND AMOUNT TO € 6.1 MILLION (- 6.2 PCT)

* Q1 EPRA NAV (GROUP SHARE) PER SHARE STANDS AT € 83.7

* NUMBER OF LOGISTICS/SEMIINDUSTRIAL BUILDINGS IN BELGIUM, ARE NO LONGER CONSIDERED TO BE STRATEGIC, AND DIVESTING OPPORTUNITIES WERE BEING SOUGHT AFTER

* NET RESULT OVER Q1 2017 AMOUNTS TO € 3.5 MILLION COMPARED TO € 4.5 MILLION AT THE END OF Q1 2016

* EXPECTS TO REALIZE A LOWER NET RESULT AND EPRA EARNINGS IN 2017 IN COMPARISON WITH 2016

* EXPECTS TO MAINTAIN THE DIVIDEND OVER 2017 AT MINIMUM THE SAME LEVEL AS THAT OF 2016

* FAIR VALUE REAL ESTATE PORTFOLIO AT MARCH 31 EUR 864 MILLION VERSUS EUR 871.7 MILLION YEAR AGO

* MR. TIM RENS WAS HIRED AS CHIEF FINANCIAL OFFICER TO REPLACE MR. PIET VERVINCKT WHO RESIGNED ON 12 MAY 2017.

* DECIDED TO DISTRIBUTE, ON 22 MAY 2017, A DIVIDEND OF € 4.90 GROSS, AND NET, FREE OF WITHHOLDING TAX OF 30%, OF € 3.43

* APPOINTED MR. MICHEL VAN GEYTE, CHIEF INVESTMENT OFFICER, AS CO-CHIEF EXECUTIVE OFFICER Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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