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The Earnings Report — Europe

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The Earnings Report — Europe

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

* Altarea Cogedim logged a recurring net result, or funds from operations, of €256.3 million for the 2017 full year, marking a 33.5% year-over-year increase from €192.0 million. The figure translates to a per-share figure of €16.42, a 20.7% uptick from €13.60 in 2016.

The French real estate developer and investor aims to generate FFO in the region of €300 million by 2020.

* For the year ended Dec. 31, 2017, Harworth Group PLC's profit amounted to roughly £49.7 million, versus £39.9 million in 2016. The developer noted a 15.4% incline in EPS to 15.8 pence as at Dec. 31, 2017, from 13.7 pence a year earlier.

* Société de la Tour Eiffel reported recurring net profit of €17.3 million for 2017, up from €16.5 million in 2016. EPS, as defined by the European Public Real Estate Association, or EPRA, slipped 1.8% year over year to €3.58 from €3.64.

* Tritax Big Box REIT PLC's profit before tax climbed 169.6% to £247.8 million in 2017 from £91.9 million in 2016. The U.K.-based industrial real estate investment trust logged adjusted EPS of 6.37 pence for the year, a 2.2% decline from 6.51 pence a year earlier.

* For 2017, Capital & Regional PLC made £22.4 million in profit, based on International Financial Reporting Standards, compared to a loss of £4.4 million in 2016. The company's adjusted EPS grew 7.3% to 4.10 pence, from 3.82 pence as at Dec. 31, 2016.

Additional coverage

LEG Immobilien's FY'17 FFO l climbs 10% YOY

Vonovia logs 21% YOY jump in FY'17 funds from operations 1, ups dividend