September 29, 2016 / 7:26 AM / a year ago

BRIEF-Aedes SIIQ announces 2016 guidance, 2017-2021 plan

Sept 29 (Reuters) - Aedes SIIQ :

* Reported on Wednesday that its board of directors approved 2016 guidance and guidance for 2017-2021 strategic industrial plan

* In its 2016 financial guidance the company points out that it has reached, starting H2 2016, the recurring economic balance with the rental income on an annual basis at 18 million euros, with a gross yield over 8 pct, and an LTV between 45-50 pct

* For 2017-2021 period the company intends to focus on growth and consolidation of its commercial real estate portfolio

* The co will continue acquisitions of proprieties and real estate portfolios in Northern and Central Italy and will finalise construction of new generation of shopping and leisure centres through pipeline of existing developments already in portfolio

* Expects to achieve financial equilibrium of lease activity during 2017-2018

* Expects to return to distribute dividends from 2018

* Expects a GAV portfolio in 2021 of around 1 billion euros, LTV equal to about 50 pct and occupancy rate of 95 pct

* Expects to approve the 2017-2021 plan by the date of submission to the Board the 2016 budget

Source text: bit.ly/2dthMI0

Further company coverage:

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