BEFIMMO SA Investor presentation
Annual results 2016
February 2017
Brussels | Amsterdam | Paris | London | NYC
BEFIMMO'S GUIDING PRINCIPLES
In an uncertain geopolitical context, Befimmo:
>Actively manages its portfolio
> With the aim of maintaining a high quality portfolio in line with best market standards
> While working hard for the success of the promising projects in the North area
> And anticipating the rapid changes in the ways of working
> Keeping a constant eye on external growth opportunities and
business development> Based on a solid shareholders' support
Regular and predictable revenues & potential to create value
2
CONTENTS
> Financial results
> Portfolio results & Brussels office market
> Internal value creating growth
> Capital increase 2016
> Financial structure
> Forecasts & dividend guideline
> Share performance
> 2016 Highlights
Appendices
3
FINANCIAL RESULTS
Condensed consolidated P&L (IFRS)
STABLE
LIKE-FOR-LIKE** NET RENTAL RESULT
(in € thousand) | 31.12.2016 | 31.12.2015 | 2016 forecast* |
Rental income | 137 752 | 140 063 | 140 051 |
Charges linked to letting | - 715 | - 553 | - 919 |
Net rental result | 137 037 | 139 510 | 139 133 |
Net rental result excluding spreading | 136 442 | 137 963 | |
Spreading of gratuities/concessions | 595 | 1 547 | |
Net property charges | -14 257 | -12 808 | -16 144 |
Property operating result | 122 780 | 126 702 | 122 989 |
Corporate overheads | -10 447 | -9 930 | -10 533 |
Other operating income & charges (excl. goodwill impairment) | - 596 | -1 675 | -1 060 |
Operating result before result on portfolio | 111 738 | 115 098 | 111 396 |
Operating margin | 81.5% | 82.5% | 80.1% |
Gains or losses on disposals of investment properties | 1 154 | 967 | |
Net property result | 112 892 | 116 064 | |
Financial result (excl. changes in fair value of financial assets and liabilities and close-out costs) | -22 131 | -27 637 | -23 501 |
Corporate taxes | -2 364 | -1 459 | -1 170 |
Net result before changes in fair value of investment properties and financial assets and liabilities | 88 397 | 86 968 | |
Changes in fair value of investment properties | 21 121 | 10 984 | |
Changes in fair value of financial assets and liabilities | -19 112 | - 25 | |
Changes in fair value of investment properties & financial assets and liabilities | 2 009 | 10 959 | |
Net result | 90 406 | 97 927 | |
EPRA earnings | 87 243 | 86 282 | 86 724 |
Net result (in € per share) | 3.82 | 4.41 | |
EPRA earnings (in € per share) | 3.68 | 3.89 | 3.66 |
2016 FY DIVIDEND CONFIRMED AT
€3.45
GROSS PER SHARE***
* As published in the Annual Financial Report 2016 and updated in the Securities Note of the capital increase (only to include its impact).
** Like-for-like perimeter according to EPRA criteria. 4
*** Interim dividend of €2.55 gross per share for the shares existing before the capital increase and final dividend of €0.90 gross per share.
Befimmo Sicafi SCA published this content on 16 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 February 2017 16:51:11 UTC.
Original documenthttp://www.befimmo.be/sites/default/files/imce/publications/New folder/befimmo_sa_-_full_year_results_2016.pdf?fp=983192339
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