31.07.2019, 7239 Zeichen

Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.
Earnings
St Helier Jersey / Channel Islands -
First Half 2019 trading update Continuing growth of urban portfolio in capital cities
Jersey, 31 July 2019, Atrium European Real Estate Limited (VSE/Euronext: ATRS), (the "Company" and together with its subsidiaries, the "Atrium Group" or the "Group"), a leading owner, operator and redeveloper of shopping centres and retail real estate in Central Europe, provides an update on trading for the six months ended 30 June 2019.
KEY FINANCIAL FIGURES FOR THE PERIOD
6M 2019 6M 2018 CHANGE EURm EURm Net rental income 74.6 71.7 4.0% excl. Russia EPRA Like-for-Like net rental income 40.5 39.9 1.5% excl. Russia Net rental income 92.4 91.8 0.6% EPRA Like-for-Like 51.5 51.2 0.5% net rental income EBITDA 81.0 80.9 0.2% Company adj. EPRA earnings per share 15.4 15.6 (1.2%) (in EURcents) Cost of financing 3.1 3.4 (in %) Average debt 4.9 4.2 maturity (in years) Net LTV (in %) 39.3 33.5

Highlights
Continued progress in executing the Group's strategy to focus the portfolio towards prime shopping centres in Warsaw and Prague:\nIn July 2019 we completed the sale of two Polish shopping centres, Atrium Koszalin, in Koszalin and Atrium Felicity, in Lublin, for EUR298m or around 3% above book value, and signed an agreement to sell Atrium Duben in Zilina, Slovakia at book value (EUR37m)\nAcquisition of Atrium's fifth Warsaw asset, King Cross shopping centre, for EUR43m in June 2019. A well-connected and established centre with a diverse tenant mix and future redevelopment opportunities\nMonetised 13% of our land bank in January 2019 with the completion of a EUR28m land disposal in Gdansk, Poland at around book value\n1.5% improvement in EPRA like-for-like net rental income ("NRI") excluding Russia, or 0.5% growth across the whole portfolio\nLFL NRI in Russia decreased by 2.7%, mainly as a result of specific tenants exiting the Russian market and subsequent re-tenanting initiatives\nHigher quality cash flow generated from acquisitions and the opening of three extensions in Warsaw in Q4 2018, offsetting the impact of disposals, including the strategic exit from Hungary and Romania\nStrong occupancy and operating margin of 95.2% and 95.8%, respectively\nEBITDA and EBITDA margin stable at EUR81m and 88%\nCompany adjusted EPRA earnings per share was 15.4 EURcents, 1.2% lower than in the comparable period, driven by an increase in financing costs due to a higher debt level\nEPRA NAV per share EUR5.05, a 0.4% increase on year end 2018\nNet LTV was 39.3% as at 30 June 2019, which is expected to decrease to approximately 34% following the disposal of Atrium Koszalin and Atrium Felicity\nEUR189m of cash and EUR300m of RCF available as at 29 July 2019\nLiad Barzilai, Chief Executive Officer of Atrium Group, commented: "The first half of 2019 has been yet another successful period where we have undertaken effective capital recycling and are seeing the true benefits of the refurbishments, particularly in our Warsaw assets. Our management focus remains on the continued implementation of our strategy and the delivery of positive operational results."
Recommended cash acquisition by Gazit-Globe Ltd. ("Gazit")
The Independent Committee of the Board of Directors of the Company and the Board of directors of Nb (2019) B.V. ("Bidco"), which is an indirect wholly-owned subsidiary of Gazit, on 23 July 2019 announced that they have reached an agreement on the terms and conditions of a recommended cash acquisition (the "Acquisition") of the entire issued and to be issued ordinary share capital of the Company that is not already owned directly or indirectly by Gazit or its affiliates (including, in particular, Gazit Gaia Limited ("Gaia") or Gazit Midas Limited ("Midas")). It is intended that the Acquisition will be implemented by means of a court-sanctioned scheme of arrangement under Article 125 of the Jersey Companies Law. At the date of the Announcement, Gazit and its affiliates Gaia and Midas together owned approximately 60.1% of the Company's issued share capital.\nIn connection with the Acquisition, the Independent Committee of the Board of Directors has agreed to stop dividend payments by the Company as Gazit's offer assumes that no further regular dividends will be paid until the completion of the transaction which is scheduled for 02 January 2020.\nThe announcement (and other reference materials) can be found on the Company's website at https://www.aere.com/investors-lobby.aspx https://www.aere.com/ and questions related to it can also be submitted in writing to ol-renoir-ubs@ubs.com\n Further information can be found on the Company's website www.aere.com or for Analysts: Molly Katz: mkatz@aere.com
Press & Shareholders: FTI Consulting Inc.: +44 (0)20 3727 1000 Richard Sunderland/Claire Turvey: atrium@fticonsulting.com
About Atrium European Real Estate Atrium is a leading owner, operator and redeveloper of shopping centres and retail real estate in Central Europe. Atrium specializes in locally dominant food, fashion and entertainment shopping centres in the best urban locations. Atrium owns 32 properties with a total gross leasable area of over 870,000 sqm and with a total market value of approximately EUR2.7 billion. These properties are located in Poland, the Czech Republic, Slovakia and Russia, and with the exception of one, are all managed by Atrium's internal team of retail real estate professionals.
The Company is established as a closed-end investment company incorporated and domiciled in Jersey and regulated by the Jersey Financial Services Commission as a certified Jersey listed fund, and is listed on both the Vienna Stock Exchange and the Euronext Amsterdam Stock Exchange. Appropriate professional advice should be sought in the case of any uncertainty as to the scope of the regulatory requirements that apply by reason of the above regulation and listings. All investments are subject to risk. Past performance is no guarantee of future returns. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results.
end of announcement euro adhoc
issuer: Atrium European Real Estate Limited Seaton Place 11-15 UK-JE4 0QH St Helier Jersey / Channel Islands phone: +44 (0)20 7831 3113 FAX: mail: richard.sunderland@fticonsulting.com WWW: http://www.aere.com ISIN: JE00B3DCF752 indexes: stockmarkets: Luxembourg Stock Exchange, Wien language: English
Digital press kit: http://www.ots.at/pressemappe/2915/aom

Christian Drastil: Wiener Börse Plausch

SportWoche Podcast #117: Floorball, vorgestellt von FBC Dragons Gründer Harry Steinbichler

Atrium

Bildnachweis

1. HIGH END 2016 - Atrium / Die HIGH END® als weltweite Leitmesse der Audiobranche findet vom 05.-08. Mai im MOC in München statt : Fotocredit: High End Society Service GmbH   >> Öffnen auf photaq.com

Aktien auf dem Radar:Amag, Agrana, RHI Magnesita, Austriacard Holdings AG, Flughafen Wien, Addiko Bank, Rosgix, ATX, ATX Prime, ATX TR, Wienerberger, Bawag, AT&S, Österreichische Post, Palfinger, Semperit, Cleen Energy, Pierer Mobility, UBM, Wiener Privatbank, Oberbank AG Stamm, CA Immo, Erste Group, EVN, Immofinanz, Telekom Austria, Uniqa, VIG, Symrise, Siemens Healthineers, BMW.

---

Mehr aktuelle OTS-Meldungen HIER