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Intervest Offices & Warehouses (0MTK)

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Wednesday 06 May, 2020

Intervest Offices & Warehouses

Intervest Offices & Warehouses: Interim statement by the board of directors on the first quarter of 2020

Intervest Offices & Warehouses: Interim statement by the board of directors on the first quarter of 2020

Real estate portfolio: € 932 million, 4% growth

Value increase due to sharpening yields in logistics real estate of 9 bp on average

EPRA earnings per share: € 0,36 (€ 0,38 1st quarter 2019)

EPRA NAV: € 22,45 per share (€ 21,79 as at 31 December 2019)

Occupancy rate: 91% total, decrease of 2% points
89% offices: almost stable
93% logistics real estate: decrease of 2% points

Limited debt ratio: 40%

Average interest rate of the financing: 2,0% (2,4% 1st quarter 2019)

Intended gross dividend per share for 2020: € 1,53 at the same level as for 2019

Expected EPRA earnings per share for 2020 between € 1,60 and € 1,65 based on the current forecasts

Solid basis due to sectoral spread of tenants, € 119 million non-withdrawn credit lines and strong balance sheet with solid financial ratios

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