Wereldhave N.V.
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Publicatie datum
04 feb 2016 - 08:15
Statutaire naam
Wereldhave N.V.
Titel
Results 2015 Wereldhave
Bericht
Summary
Wereldhave sees occupancy, income and profits grow in challenging conditions
Profitability
Net profit improved from € 27m in 2014 to € 104m in 2015. Earnings per share from our direct result
increased in 2015 by 9% from € 2.97 to € 3.23 in 2015 driven by solid rental growth (despite challenging retail environments), successful acquisitions and one of the lowest cost of debt in the sector. The dividend proposal is € 3.01 per share, up 5% YoY, reflecting solid cash flows.
Leasing & operations
Overall occupancy (93.8%) and rental growth was resilient and positive, despite a weak retail environment. In 2015 we built up a strong French team and successfully integrated a € 770m acquisition in the Netherlands. Occupancy in France was stable at 91% in 2015, a strong performance given the start- up of a new retail team. Occupancy in the first quarter of operations for the Dutch acquisition was up by 1%, which is a good start and reflects a “plug-and-play” portfolio addition.
Reshaping the portfolio
Marking the end of our three years transformation, the French office portfolio was successfully sold, net 5% above the year-end 2014 book value, which brings our retail portfolio to 97% of the total asset value. Spot on acquisitions in France, the Netherlands and Belgium for € 1.8bln completed our transformation towards a retail operator of convenient shopping centres.
Outlook
In 2016 we will focus on operations. Despite volatile markets Wereldhave is well positioned to show
growth in results. We reconfirm our outlook for 2016 with an expected EPS growth of 6-9%, a dividendgrowth between 4-6% and a LTV below 40%, based on the current portfolio.
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Datum laatste update: 05 februari 2025