• Strategy focus on two asset classes, retail and offices, and three countries, Luxembourg, Belgium and Austria:
    • Strengthening of the position in Austria and in retail with two acquisitions in Vienna
    • Strengthening of the position in Luxembourg with the acquisition of the office building Mercator and in Lux Airport real estate certificates
    • Complete divestment of Swiss retail portfolio and
    • Finalizing divestment major part of logistics portfolio in Belgium
  • The outlook for 2017 is confirmed by the figures realized on 31/12 (compared to 31/12/2016)
    • Stable rental income of € 56.9 million compared to € 56.7 million (2016)
    • The EPRA Earnings*[1] on 31/12 are relatively stable at € 27.5 million vs € 27.9 million on 31/12/2016
    • Substantial rise of the net result from € 29.4 million to € 47.5 million or € 9.63 per share (+62%), thanks to an important positive portfolio result of € 22.4 million
    • Redevelopments in Belgium, Luxembourg and Austria remain on schedule

 

Jean-Louis Appelmans: "In 2017 we took a number of important strategic decisions in order to ensure our future growth, such as reducing our logistics portfolio in Belgium and divesting the investment properties in Switzerland, in favor of additional investments in Luxembourg and Austria. We now entirely focus on retail and offices in the Grand Duchy of Luxembourg, Belgium and Austria."


[1] Alternative Performance Measures (APM) in the sense of the ESMA directive of 5 October 2015 in this press release are indicated with an asterisk (*) and are further explained in the annexes to this press release.

LRE Annual results 2017


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Source: Leasinvest Real Estate Comm. VA via Globenewswire