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In This List

The Earnings Report — Europe

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


The Earnings Report — Europe

This roundup collects recently reported earnings and guidance from European real estate companies.

* First-half funds from operations 1 at Vonovia SE rose 18% year over year to €457.7 million.

The company affirmed its full-year guidance in 2017, with projected FFO 1 in a range of between €900 million and €920 million.

* Vastned Retail NV achieved a result attributable to shareholders of €64.2 million in the first half of 2017, up from the €12.6 million recorded a year earlier. The company's direct result for the first half fell to €20.2 million, or €1.07 per share, from €23.0 million, or 1.21 per share. The company attributed the decline to the sale of its Turkish portfolio and other divestments.

The company confirmed its full-year direct result guidance in the range of €2.10 to €2.20 per share.

* DIC Asset AG's FFO saw an 8% boost year over year to 29.8 million in the first six months of 2017, from €27.7 million in the year-ago period. The climb was attributed mainly to improved funding terms for the company's commercial portfolio.

The company raised its FFO estimate for the 2017 financial year to between €59 million and €61 million.

* Eurocastle Investment Ltd. logged normalized FFO of €35.1 million, or 58 cents per share, for the first half of 2017, an increase from 2016's €21.5 million, or 30 cents per share.

* By the end of the first half, Sponda Plc's net operating income had reached €96.5 million, up from €92.3 million for the year-ago period. Company-adjusted European Public Real Estate Association-defined earnings for the period totaled €59.8 million, or 18 cents per share, compared to €54.9 million, or 17 cents per share, a year earlier.

For the full year, net operating income is expected to lie between €182 million and €192 million, while company-adjusted EPRA earnings are projected to be between €106 million and €116 million.

* Warehouses De Pauw's EPRA earnings for the first six months jumped 18% year over year to €57.2 million, or €2.67 per share.

The company lifted its EPRA EPS guidance for 2017 to €5.50 from a minimum of €5.35.

The S&P Capital IQ consensus mean EPS normalized estimate for the year is €5.39.

* Kennedy Wilson Europe Real Estate secured net operating income of £79.7 million for the first half, up 1.3% year over year from £78.7 million. Adjusted EPS came in at 30.8 pence, up 14.9% from 26.8 pence in the 2016 first half.

* Mobimo Holding AG's profit attributable to shareholders stood at CHF62.4 million for the first half, or CHF10.03 per share, down from CHF89.5 million, or CHF14.39 per share, a year earlier. Excluding revaluation, profit totaled CHF40.1 million, or CHF6.46 per share, versus CHF 74.2 million, or CHF11.93 per share, in the year-ago period.

Middle East

* Aldar Properties PJSC's net profit for the first half totaled 1.26 billion United Arab Emirates dirhams, down from 1.31 billion dirhams a year earlier.

As of Aug. 3, US$1 was equivalent to 3.67 United Arab Emirates dirhams.