This roundup collects recently reported earnings and guidance from European real estate companies.
* Fabege AB logged an after-tax profit of 5.63 billion Swedish kronor for 2017, lower than the roughly 7.11 billion kronor recorded the previous year. On a per-share basis, after-tax profit fell to 34.05 kronor per share from 42.97 kronor per share.
* Wallenstam AB's profit after tax decreased to 2.42 billion kronor, or 7.4 kronor per share, in 2017, from roughly 3.35 billion kronor, or 10.1 kronor per share, in 2016.
* Cofinimmo SA reported a net result — group share of €6.45 per share for 2017, up from €4.64 per share in 2016. The net result from core activities — group share was €6.53 per share, up from €6.40 per share in 2016. European Public Real Estate Association net asset value for the year came in at €93.26 per share, compared to €92.76 as at 2016-end.
The company expects a 2018 net result from core activities — group share of €6.54 per share.
* Entra ASA reported EPRA NAV per share of 127 Norwegian kroner for both the 2017 fourth quarter and full year, compared to 101 kroner per share in the year-ago periods. Fourth-quarter cash EPS was at 1.70 kroner, up from 1.46 kroner a year earlier. Full-year EPS increased to 6.81 kroner from 5.80 kroner.
* Millennium & Copthorne Hotels Plc reported EPS of 9.8 pence and 38.1 pence for the 2017 fourth quarter and full year, respectively. The company's EPS stood at 5.8 pence and 24.0 pence for the respective year-ago periods.
* Citycon Oyj reported 2017 EPRA EPS of 17.1 euro cents, compared with 17.0 cents in 2016. EPRA NAV per share fell 3.9% year over year to €2.71 from €2.82.
For 2018, the company expects to achieve EPRA EPS of between 15.5 cents and 17.5 cents.
* St. Modwen Properties Plc achieved EPRA NAV per share and adjusted EPRA EPS of £4.71 and 13.3 pence, respectively, for the year ended Nov. 30, 2017. In the corresponding period of 2016, EPRA NAV per share came to roughly £4.61, while adjusted EPRA EPS totaled 9.7 pence.
* Hamborner REIT AG's 2017 funds from operations reached €44.7 million, a 24.0% increase from €36.1 million in 2016. FFO per share rose to 56 cents from 45 cents.
* DIC Asset AG reported a 28% year over year gain in FFO for the 2017 financial year to €60.2 million, up from €47.0 million in 2016. FFO per share was recorded at 88 cents for the period, up from 69 cents.
The S&P Capital IQ consensus estimate for 2017 FFO per share was 88 cents.
* Platzer Fastigheter Holding AB reported 2017 EPRA NAV per share of 58.39 kronor, compared to 45.72 kronor in 2016. EPS increased to 11.54 kronor, up significantly from 4.92 kronor in 2016.
* Including revaluation, Mobimo Holding AG reported profit attributable to shareholders of CHF91.6 million and EPS of CHF14.74 for 2017, down from CHF158.7 million and CHF25.52, respectively, a year earlier.
Excluding valuation, profit attributable to shareholders came to CHF71.9 million, while EPS totaled CHF11.56 in 2017, compared to CHF99.4 million and CHF15.99, respectively, in 2016.
* Befimmo SA reported EPRA EPS of €3.74 for 2017, compared to €3.68 as of Dec. 31, 2016.
The S&P Capital IQ consensus estimate for normalized EPS in 2017 was €3.93, based on three analyst estimates.
* Intervest Offices & Warehouses' EPRA EPS slipped to €1.58 in 2017 from €1.73 in 2016.
Additional coverage
Klépierre logs YOY revenue growth of 1.6% for FY'17
As of Feb. 8, US$1 was equivalent to 8.14 Swedish kronor and 7.95 Norwegian kroner.
