Please find below a press release from Aedifica (a residential Belgian REIT), regarding the 2012/2013 annual results. The key points are the following:
- Aedifica successfully completed a capital increase of €100 million on 7 December 2012, the largest public capital increase to take place in Belgium in 2012, bringing the Company's total market capitalisation to approximately €470 million and debt-to-assets ratio to 36%
- New credit facilities in the amount of €173 million since the beginning of the 2012/2013 financial year
- Investments and commitments since the capital increase of 7 December 2012 amounting to €74 million as of 30 June 2013, of which €8 million in Germany
- €151 million development projects pipeline as of 30 June 2013, 96% pre-let
- High occupancy rate of 97.4% for the unfurnished portion of the portfolio (total less furnished apartments) and at 82.6% for the furnished portion of the portfolio
- Increased in consolidated rental income by 6% as compared to 30 June 2012
- EBIT margin and profit excluding IAS 39 and IAS 40 ahead of expectations
- Increase in fair value of marketable investment properties amounting €6 million, i.e. +1.05%, taken into income statement
- Fair value of investment properties amounting to €643 million as of 30 June 2013
- Proposed dividend of €1.86 per share
