|
Key figures |
(amounts x € 1,000) |
To March 2007 |
To March 2006 |
| ||
|
|
|
|
|
|
|
|
|
|
Direct result |
5,497 |
|
5,413 |
|
+1.6% |
|
|
Indirect result |
353 |
|
37 |
|
|
|
|
|
|
|
|
|
|
|
|
Profit |
5,850 |
|
5,450 |
|
+7.3% |
|
|
|
|
|
|
|
|
|
|
Direct result per share |
1.03 |
|
1.01 |
|
+1.6% |
|
|
|
|
|
|
|
|
|
|
Profit per share |
1.10 |
|
1.02 |
|
+7.3% |
|
|
|
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
|
|
|
31-03-2007 |
31-12-2006 |
| ||
|
|
Investment properties |
349,903 |
|
348,959 |
|
+0.3% |
|
|
Project developments |
6,884 |
|
6,847 |
|
+0.5% |
|
|
Shareholders' Equity |
364,270 |
¹ |
358,428 |
¹ |
+1.6% |
|
|
|
|
|
|
|
|
|
|
Net asset value per share |
68.32 |
€¹ |
67.22 |
€¹ |
+1.6% |
|
|
|
|
|
|
|
|
|
|
Debt ratio on total of assets |
2.0 |
% |
2.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
Number of shares |
5,331,947 |
|
5,331,947 |
|
|
|
|
|
|
|
|
|
|
|
|
1) before profit distribution and before payment of dividend of the financial year 2006 | |||||
Profit
The profit for the first quarter of 2007 rose to € 5.9 mln (2006: € 5.5 mln). This is the result of a higher positive revaluation (€ 0.3 mln) of the investment properties portfolio and a slightly higher direct result (€ 0.1 mln).
Direct result
During the first quarter, the direct result of Comm. VA Wereldhave Belgium SCA increased to € 5.5 mln (2006: € 5.4 mln). This slight increase is the result of higher net rental income (€ 0.2 mln) and higher property charges and general expenses (€ 0.1 mln).
Shareholders' equity and net asset value
Shareholders' equity at March 31, 2007 amounts to € 364.3 mln (December 31, 2006: € 358.4 mln). The net asset value per share at March 31, 2007, including the profit of the current year and the dividend over the financial year 2006, amounts to € 68.32 (December 31, 2006: € 67.22).
Property portfolio
At March 31, 2007 the fair value of the property portfolio amounts to € 349.9 mln (December 31, 2006: € 349.0 mln). The net increase of € 0.9 mln can be attributed to investments on buildings in the portfolio of € 0.6 mln and to a positive net revaluation of the portfolio of € 0.3 mln. At March 31, 2007 the debt ratio on the total of assets amounts to 2.0%. The average occupancy rate, expressed in a percentage of rental income, amounts to 85.2% (2006: 84.0%). The vacancy concerns only the office portfolio.
Dividend
In accordance with the proposition of the Management Company, the Annual General Meeting of Shareholders decided on April 11, 2007, to attribute a dividend of € 3.75 gross (€ 3.19 net). As from April 20, 2007, the share quotes ex-dividend.
Dispute
During the session of April 27, 2007, the Raadkamer / Chambre du Conseil in Brussels decided to put before a private sitting of the court the case regarding the matter of a penal dispute arising from the sale of a company in 1993, later reclassified as a cash company. The decision of the Raadkamer / Chambre du Conseil concerning the proceedings is expected on May 31, 2007.
Prospects
Wereldhave Belgium's profit development will be mainly dependent on the letting of vacant office space.
Vilvoorde, May 9, 2007
N.V. Wereldhave Belgium S.A.
Statutory Management Company
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