This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
Summit Properties Limited
(the "Company")
2019 Unaudited Key Performance Indicators
Summit Properties Limited, the German commercial property company, is pleased to announce its unaudited key performance indicators for the year ended 31 December 2019:
Profits
- Net profit of €137.5 million (2018: €289.6 million)
- Profit Before Tax (PBT) of €166.5 million (2018: €334.2 million)
- EBITDA of €180.9 million (2018: €345.4 million)
- Gross profit of €78.6 million (2018: €64.8 million)
- The results above include 2019 revaluation profit of €117.8 million
NAV
- EPRA NAV of €1,004.1 million (FY 2018: €866.0 million)
- Group's NAV of €891.0 million (FY 2018: €782.0 million)
- NAV and EPRA NAV per share of €2.00/€2.26 (FY 2018: €1.68/€1.89)
- Total Assets of €1.71 billion (FY 2018: €1.57 billion)
Rent
- Rental income increased 21.8% to €82.1 million (2018: €67.4 million)
- Funds From Operations (FFO) 20.0% up to €53.2 million (2018: €44.3 million), including profit of €2.9 million from residential development
Portfolio
- 92% occupancy over the portfolio's majority (90% including properties for re- development)
- Signing 131 new lease agreements and renewals during the reporting period; 162,000 sqm worth €11.4 million of rental income p.a.
For further information please contact: | |
Summit Properties Limited | Tel: +44 (0) 1481 700 300 |
Zohar Levy - Managing Director | |
Itay Barlev - Finance Director | |
Non-Executive Chairman | Tel: +44 (0) 20 7451 7050 |
Harry Hyman | |
Carey, Company Secretary | Tel: +44 (0) 1481 700 300 |
Chris Le Page / Tom Lancaster-King |
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Disclaimer
Summit Properties Ltd. published this content on 20 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 March 2020 08:27:08 UTC