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In This List

The Earnings Report — Europe


Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective


Real Estate News & Analysis: May Edition


Corporate Credit Risk Trends in Developing Markets: A Probability of Default Perspective

The Earnings Report — Europe

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

* InterContinental Hotels Group Plc reported a pretax profit of US$326 million during the period, up 9.4% from US$298 million in the year-ago period. Adjusted EPS amounted to US$1.13 in the first half; a 27.3% boost from the 89 cents recorded in the 2016 first half.

* alstria office REIT-AG's funds from operations during the first half of 2017 slid 1.3% year over year to 56.6 million, from €57.4 million in the first half of 2016. FFO per share is unchanged from last year at 37 cents.

FFO for the full year is predicted to amount to €113 million, up from the previous estimate of €108 million.

* PATRIZIA Immobilien AG recorded a first-half operating income of €35.1 million, up from €24.1 million in the year-ago period.

For 2017, the company expects its operating income for the full year to reach between €60 million and €75 million.

* Hamborner REIT AG's FFO came in at 22.1 million for the first six months of 2017, surpassing the €17.3 million it achieved in the comparable 2016 period by 28.1%.

The company is expecting its full-year 2017 FFO to grow to between €44 million and €45 million, or 55 cents to 56 cents on a per-share basis.

* VIB Vermögen AG logged a 13.4% year-over-year improvement in consolidated net income to €21.8 million in the first half. EPS also inched up by 13.4% to 76 cents from 67 cents.

FFO rose 14.4% during the period to €20.0 million, from €17.5 million a year earlier.

The company affirmed its full-year FFO guidance at between €37.0 million and €39.5 million.

Middle East

* Emaar Malls PJSC's net profit came in at 1.02 billion United Arab Emirates dirhams in the 2017 first half, reflecting a 3% increase from 987 million United Arab Emirates dirhams recorded in the year-ago period.

As of Aug. 8, US$1 was equivalent to 3.67 United Arab Emirates dirhams.