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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.

* Inmobiliaria Colonial SOCIMI SA's first-half recurring net profit was €41.0 million, an increase of 10.8% from €37.0 million in the prior-year period. Adjusted funds from operations per share rose 13% year over year to 11 cents from 10 cents.

* Intu Properties PLC registered a loss attributable to owners for the half of £486.2 million, compared to a profit of £127.1 million in the prior-year period. Underlying EPS held steady year over year at 7.3 pence.

* Unite Group PLC's first-half pretax profit amounted to £142.5 million, a gain of 69.8% from £83.9 million in the prior-year period. European Public Real Estate Association-defined earnings grew 30.9% from the prior-year period to £52.9 million, or 20.7 pence per share, from £40.4 million, or 18.0 pence per share.

* Mercialys' FFO for the first half of the year remained steady year over year to 65 euro cents per share. FFO totaled €59.8 million, up 0.3% from €59.6 million in the prior-year period. EBITDA totaled €78.6 million, down 0.8% year over year from €79.3 million.

* Wereldhave NV's EPRA EPS for the first half came to €1.70 per share, down from €1.72 per share in the year-earlier period. The direct result attributable to shareholders totaled €68.5 million as at June 30, down from €69.1 million a year earlier.

The company expects to generate a full-year direct result per share of between €3.33 and €3.38, compared to its previous guidance of €3.30 to €3.40.

* Lar España Real Estate SOCIMI SA's recurring result from operations was at €29.5 million in the first half, rising 12% annually. Recurrent profit was 5% higher year over year at €22.1 million.

* DIC Asset AG's six-month FFO came to 46 euro cents per share, an increase of 7.0% from 43 cents per share in the prior-year period. FFO totaled €32.0 million, a gain of 7.4% from €29.8 million in the year-earlier period.

* CeGeREAL's first-half EPS stood at 79 euro cents per share, a decrease of 61.3% from €2.04 per share in the year-earlier period. Consolidated net income attributable to owners totaled €11.2 million, down from €29.7 million a year earlier. EPRA earnings totaled €14.7 million, down 1.6% year over year from €14.9 million.

Additional coverage

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Segro's H1 adjusted pretax profit up 21.3% YOY