Please find below a press release from Aedifica (a residential Belgian REIT), regarding the 2013/2014 annual results. The key points are the following:
- Fair value of investment properties amounting to €785 million as of 30 June 2014, increase of €142 million as compared to 30 June 2013
- First Belgian REIT active in the German market, already 5 rest homes acquired in the country
- Over 50 senior housing sites with 12 additions to the portfolio during the 2013/2014 financial year
- Acquisition of one apartment building in 2013/2014 for a total of 13 additions to the portfolio during the financial year under review
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- Over €200 million development projects in the pipeline as of 30 June 2014, 96 % pre-let
- Occupancy rate for the year ended 30 June 2014 : 97.6 % for the unfurnished portion of the portfolio and 78.0 % for the furnished portion (8 % of the fair value of marketable investment properties)
- 12 % increase in rental income as compared to 30 June 2013
- Rental income, EBIT margin and profit excluding IAS 39 and IAS 40 ahead of budget
- €6 million increase in the fair value of marketable investment properties, i.e. +0.8 % recognised in the income statement
- €191 million in new credit facilities since the beginning of the 2013/2014 financial year
- 44.9 % debt-to-assets ratio as of 30 June 2014
- Proposed gross dividend distribution of €1.90 per share, above budget
