Retail Estates N.V. Reports Consolidated Earnings Results for the Half Year Ended September 30, 2017
Retail Estates N.V. reported consolidated earnings results for the half year ended September 30, 2017. For the period, the company reported rental income of EUR 36,235,000 compared to EUR 32,511,000 a year ago. This increase is almost entirely attributable to the growth of the real estate portfolio. Net rental income was EUR 36,135,000 compared to EUR 32,211,000 a year ago. Property result was EUR 35,797,000 compared to EUR 31,919,000 a year ago. Operating property result was EUR 33,189,000 compared to EUR 29,529,000 a year ago. Operating result was EUR 32,203,000 compared to EUR 33,607,000 a year ago. Result before taxes was EUR 24,290,000 compared to EUR 19,780,000 a year ago. Net result attributable to shareholders of the group was EUR 23,637,000 or EUR 2.55 per diluted share compared to EUR 19,368,000 or EUR 2.18 per diluted share a year ago. Net asset value per share was EUR 57.15 compared to EUR 57.17 a year ago. EPRA NAV was EUR 58.80 compared to EUR 59.29 a year ago. Net asset value per share (investment value) excl. dividend excl. the fair value of authorized hedging instruments was EUR 60.50 compared to EUR 58.96 a year ago.