Q1 2019 Unaudited Key Performance Indicators

RNS Number : 5380A

Summit Properties Limited

30 May 2019

 

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

Summit Properties Limited

(the "Company")

Q1 2019 Unaudited Key Performance Indicators

Summit Properties Limited, the AIM-listed German commercial property investment company, is pleased to announce its unaudited key performance indicators for the three months ended 31 March 2019:

Profits

·      Net profit of €10.2 million (Q1 2018: €7.3 million, FY 2018: €289.6 million)

·      Profit Before Tax (PBT) of €11.3 million (Q1 2018: €8.5 million, FY 2018: €334.2 million)

·      EBITDA of €15.5 million (Q1 2018: €11.3 million, FY 2018: €345.4 million)

·      Gross profit of €20.5 million (Q1 2018: €14.6 million, FY 2018: €64.8 million)

NAV

·       EPRA NAV of €880.2 million (FY 2018: €866.0 million)

·       Group's NAV of €791.5 million (FY 2018: €782.0 million)

·       NAV and EPRA NAV per share of €1.73/€1.92 (FY 2018: €1.68/€1.89)

Rent

·      Rental income increased 27.7% to €20.3 million (Q1 2018: €15.9 million, FY 2018: €67.4 million)

·      Funds From Operations (FFO) 42.6% up to €14.4 million (Q1 2018: €10.1 million, FY 2018: €44.3 million), including profit of €1.6 million from residential development

Portfolio

·       Total Assets of €1.5 billion (FY 2018: €1.5 billion)

·       Revaluation expense of €1.2 million (Q1 2018: €1.3 million expense, FY 2018: €297.5 million profit)

·       91% occupancy over the portfolio's majority (89% including properties for re-development)

·       New leases and renewals for approximately 46,000 sqm securing rental income of ca. €4.2 million p.a.

For further information please contact:

Summit Properties Limited	Tel: [phone]
Zohar Levy - Managing Director
Itay Barlev (Braun) - Finance Director
Non-Executive Chairman	Tel: [phone]
Harry Hyman
Carey, Company Secretary	Tel: [phone]
Chris Le Page / Nikolett Mezei
Liberum Capital Limited, Nominated Adviser and Joint Broker	Tel: [phone]
Chris Clarke / Gillian Martin / Owen Matthews
Cenkos Securities, Joint Broker	Tel: [phone]
Mark Connelly
Russell Kerr / Selwyn Jones (Broking)

 

END

 

 

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