How to Become a Successful REIT Manager: Top 10 Strategies

Size: px
Start display at page:

Download "How to Become a Successful REIT Manager: Top 10 Strategies"

Transcription

1 2011 Full Year Results 21 February

2 Headlines Strong operating results due to portfolio quality and operational focus Further momentum to come from mainly pre-let development programme Reduction in NAV impacted by write-down of non-core assets A clear strategy to become a leading income-focused REIT Early progress with portfolio reshaping 1

3 FinancialReview Justin Read, Finance Director 2

4 Key financial highlights Change % EPRA PBT ( m) EPRA EPS (pence) Dividend per share (pence) Change % EPRA NAV per share¹ (pence) (9.6) Net borrowings ( m) 2, , LTV (%) EPRA NAV per share and excluding fair value of interest rate derivatives but including trading property uplifts 3

5 Strong operating performance driving 8.8% EPRA PBT growth Gross rental income Property operating expenses Net rental income Joint venture management fee Share of joint ventures EPRA profit after tax 1 Administration expenses EPRA operating profit Net finance costs (excluding fair value movements on derivatives) EPRA profit before tax 2011 m (54.9) (32.1) (123.1) m (62.5) (39.2) (128.3) Net property rental income less administrative expenses, net interest expenses and taxation. 4

6 Net rental income bridge ( m) (5.1) (9.3) (6.5) Net rental income 2010 Development (lettings net of takebacks) Like-for-like rent Currency translation Acquisitions Other income Disposals to APP Disposals (excluding to APP) Lease surrenders (premium net of rent lost) Net rental income

7 Good progress with cost reduction 35 Total cost ratio* (%) % 29.9% 28.1% 24.3% ( m) 2010 ( m) Movement (%) Property operating costs (12.2) Administration expenses (18.1) *Total costs as a percentage of gross rental income. Total costs include property operating expenses (net of service charge income and management fees) and recurring administration expenses. 6

8 EPRA PBT bridge ( m) (10.9) EPRA PBT 2010 Net rental income JV management fee Share of JV EPRA PBT Administrative expenses Net finance cost EPRA PBT

9 Cash flow summary Cash flow from operations Net finance costs Dividends received (net) Tax paid Free cash flow Capital expenditure (excluding trading properties) Investment property sales (including joint ventures) Investment in joint ventures Net settlement of derivatives Dividends paid Other items Net funds flow 2011 m (120.3) 10.4 (4.9) (187.1) 79.9 (15.9) (8.1) (107.4) 7.9 (106.5) 2010 m (141.1) 8.8 (6.0) (61.1) (193.5) 23.4 (82.8)

10 EPRA NAV per share bridge (pence) 19 (1) (1) (3) (15) 376 (35) 340 EPRA NAV per share as 31 Dec 2010 EPRA PBT Exchange rate movement Other Unrecognised valuation movement on trading properties Dividends Realised and unrealised valuation movement (including JVs) EPRA NAV per share as 31 Dec

11 Solid balance sheet No significant debt maturities before m of funds available from cash balances and undrawn facilities Weighted average cost of debt now 4.8% 74% of net borrowings at fixed rates Net borrowings of 2.3bn; adjusted gearing of 89% and LTV of 50% SEGRO bonds rated A minus; reaffirmed by Fitch in December SEGRO debt maturity profile Average duration of debt 8.8 years m Year Bonds and Notes Bank Debt drawn Cash Undrawn facilities 10

12 954m of new Group and JV debt facilities arranged SEGRO and Aviva Investors APP JV refinancing September m five-year debt refinancing package Refinanced maturing facility, due March 2012 c4.0% p.a. all-in funding cost on drawn debt SEGRO Group refinancing November m of revolving, multi-currency, five-year bank facilities Refinanced 270m syndicated facility, due to mature Jan 2013 c2.75% p.a. funding cost on drawn debt under the facilities SEGRO and Moorfield financing for UKLF JV January m five-year facility Acquisition completed January 2012 <4.25% p.a. all-in funding cost; 80% fixed for 5 years 11

13 Currency management and hedging Balance sheet as at 31 December 2011 million 2,004 1, ,030 Euro gross assets Euro debt Euro currency swaps Other Euro liabilities 1.20: 1 as at 31 December 2011 assets 85% hedged by liabilities 303m ( 252m) of residual exposure 10% of Group NAV Annualised NAV sensitivity versus 1.20: 566 +/- 10% ( 1.32/ 1.08) = +/- c 25m (c3.4p per share) Income statement year to 31 December 2011 Euro net income Euro costs (incl 67m interest) Average rate for year to 31 December : 1 income 70% hedged by expenditure (including interest) Net income for the period 34m ( 30m) 22% of Group million Annualised net income sensitivity versus /- 10% ( 1.27/ 1.03) = +/- c 3m (c0.4p per share) 12

14 Financial summary Strong operational performance driving earnings growth EPRA EPS + 7.6% to 18.4p 3.5% dividend growth to 14.8p EPRA NAV 340p Non-core portfolio valuation decline in H2 Capital values more resilient for core portfolio Solid balance sheet No significant debt maturities before

15 Business Review David Sleath, Chief Executive 14

16 A clear strategy to create a successful income-focused REIT GOAL: High quality, progressive, sustainable dividends and NAV growth STRATEGY TO CREATE VALUE FOR SHAREHOLDERS: Disciplined Capital Allocation Right Portfolio Shape Active Portfolio Management Right Capital Structure Operational Excellence Leasing, Customer & Asset nmanagement Development Operational Efficiency A STRONG PLATFORM FOR SUCCESS: Industrial and logistics focus Strong market positions Diversified customer base Experienced operational team 15

17 Four key strategic priorities to deliver our vision 1. Re-shape the existing portfolio Divest assets which do not fit our strategic priorities Reduce land holdings and other non-income producing assets as a proportion of the total portfolio 2. Grow AUM in target areas through development and acquisition Light industrial in the largest and most vibrant conurbations Logistics in and around major ports, airports and distribution corridors Exploit opportunities to create higher value uses on industrial land 3. Reduce financial leverage over time and introduce third-party capital 4. Continue to focus on operational excellence and drive further improvement 16

18 Early progress with strategic priorities New organisation structure announced and implemented COO and CIO roles created Non-core disposals 111m smaller, secondary estates sold in m divestment of five estates to Ignis in February 2012 Acquisition of UK Logistics Fund in partnership with Moorfield 17

19 UKLF acquisition significantly increases our presence in logistics 50/50 JV partnership with Moorfield Real Estate Fund Royal Mail, Birmingham 14 prime logistics warehouses, located predominantly in the Midlands and South Excellent customer base, including Tesco, Sainsbury s, Royal Mail, DHL, GKN, Booker High-quality income stream c 18m in 2011; average 13 years to lease expiry Sainsbury s, Hoddesdon 9.4% cash running yield on SEGRO share of equity investment, rising to 12.8%; 6.3% ungeared net initial yield rising to 7.7% Potential to add further value through active asset management Booker, Hatfield In line with strategy to grow logistics with third-party capital 18

20 Operational excellence has created strong earnings momentum Leasing, Customer and Asset Management 38.4m of new annualised rental income from existing space and pre-lets Transactional rental values 1.7% above December 2010 ERVs Lease incentives of 11% Retention rate up to 74%, takebacks down 28% to 21.0m Vacancy rate 9.1% Development 14 developments completed; 9m annualised rental income 20 developments under construction or contracted 78% pre-let Current pipeline 117m capex and 19m annualised rental income Operational Efficiency Total costs down by 15% year on year ( 15m) Cost ratio reduced to 24.3% New management and operating structure to drive further efficiencies in 2012 and beyond 19

21 Operational excellence has created strong earnings momentum Leasing, Customer and Asset Management 38.4m of new annualised rental income from existing space and pre-lets Transactional rental values 1.7% above December 2010 ERVs Lease incentives of 11% Retention rate up to 74%, takebacks down 28% to 21.0m Vacancy rate 9.1% Development 14 developments completed; 9m annualised rental income 20 developments under construction or contracted 78% pre-let Current pipeline 117m capex and 19m annualised rental income Operational Efficiency Total costs down by 15% year on year ( 15m) Cost ratio reduced to 24.3% New management and operating structure to drive further efficiencies in 2012 and beyond 20

22 Significant improvement in retention reflects benefits of working closely with customers % of customers retained year on year* 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 87% 75% 74% 69% 63% 55% UK Continental Europe Group Focus on customer satisfaction Proactive and commercial approach to upcoming lease events Reduced availability of modern space in most markets 21 *Leases renegotiated ahead of break or expiry

23 Increased retention levels have contributed to the significant reduction in takebacks 35 m annualised rental income lost m 9.1m 20.2m Down 28% in m 4.8m 16.2m UK Continental Europe Low level of insolvencies ( 4.0m versus 7.2m in 2010) 41m of income at risk from potential break or expiry in 2012, down from 50m at June

24 Significant further improvement in Group vacancy from 12% to 9.1% the lowest level since % 14% 13.5% 14.0% % vacant by rental value 12% 10% 8% 6% 4% 12.0% 11.4% 9.1% 2% 0% FY 2009 H FY 2010 H FY 2011 UK 10.2%, Continental Europe 6.4% (2011) Target for Brixton portfolio of 15% by end of 2012 already delivered (2011: 13.4%) 23

25 Operational excellence has created strong earnings momentum Leasing, Customer and Asset Management 38.4m of new annualised rental income from existing space and pre-lets Transactional rental values 1.7% above December 2010 ERVs Lease incentives of 11% Retention rate up to 74%, takebacks down 28% to 21.0m Vacancy rate 9.1% Development 14 developments completed; 9m annualised rental income 20 developments under construction or contracted 78% pre-let Current pipeline 117m capex and 19m annualised rental income Operational Efficiency Total costs down by 15% year on year ( 15m) Cost ratio reduced to 24.3% New management and operating structure to drive further efficiencies in 2012 and beyond 24

26 14 developments completed in m of rent p.a Gliwice, Poland Tychy, Poland 2 projects for logistics customers across 35,600 sq m completed January & December ,900 sq m for logistics customer completed September 2011 Geopost, Enfield Selig UK, Slough 3,500 sq m completed September ,000 sq m completed December

27 Significant earnings momentum from current development programme DB Schenker Data centre operator 9,900 sq m at APP Portal, expected completion September ,600 sq m at Slough, expected completion February 2012 Alcatel Lonza 33,400 sq m at Vimercate, expected completion December ,500 sq m at Slough, expected completion May active projects, 78% pre-let 19m of annualised rental income and 117m of remaining capex 26

28 Land bank provides an attractive source of future developments Current land holdings by value ( m) 82m Under construction 49 hectares Estimated development costs 600m Estimated rental value 78m Indicative yield on TDC* 9-10% Largest development sites 171m Residual land bank 363 hectares 170m Potential projects 229 hectares UK Germany Park Royal Slough Düsseldorf Berlin Hectares Current BV ( m) Netherlands Amsterdam (Schipol) Poland & Czech Rep Warsaw Poznan Prague *Total development cost 27

29 Operational excellence has created strong earnings momentum Leasing, Customer and Asset Management 38.4m of new annualised rental income from existing space and pre-lets Transactional rental values 1.7% above December 2010 ERVs Lease incentives of 11% Retention rate up to 74%, takebacks down 28% to 21.0m Vacancy rate 9.1% Development 14 developments completed; 9m annualised rental income 20 developments under construction or contracted 78% pre-let Current pipeline 117m capex and 19m annualised rental income Operational Efficiency Total costs down by 15% year on year ( 15m) Cost ratio reduced to 24.3% New management and operating structure to drive further efficiencies in 2012 and beyond 28

30 Performance of core versus non-core UK Continental Europe Group Core Non-core Core Non-core Core Non-core Portfolio value ( m) (completed properties) 2, , ,283.0 Net initial yield (%) True equivalent yield (%) Valuation movement (%) (0.8) (10.5) 0.9 (16.3) (0.4) (13.0) Net absorption ( m) Vacancy (%) Pre-lets signed ( m)

31 Outlook Expect unsettled macro conditions to continue across UK and Continental Europe Good earnings momentum Strong pipeline of existing pre-let developments Good activity at start of 2012 Solid balance sheet Well-positioned to make further progress with portfolio reshaping 30

32 Summary Strong operating results due to portfolio quality and operational focus Further momentum to come from mainly pre-let development programme Reduction in NAV impacted by write-down of non-core assets A clear strategy to become a leading income-focused REIT Early progress with portfolio reshaping 31

33 2011 Full Year Results 21 February

34 APPENDICES 33

35 EPRA pro forma profit before tax: JVs proportionally consolidated Gross rental income Property operating expenses Net rental income Joint venture management fee Administration expenses EPRA operating profit Net finance costs (excluding fair value movements on derivatives) Joint venture tax EPRA profit before tax 2011 m (57.7) (32.1) (133.6) m (65.2) (39.2) (137.9)

36 Group vacancy bridge 11.5% 1.9% (0.1)% (0.4)% (0.5)% (2.6)% (12.7)% 12.0% 9.1% Vacancy rate as at 31 December 2010 Space returned Development completions Disposals Space made redundant Other (ERV changes) Development lettings Space let Vacancy rate as at 31 December

37 Our current development pipeline is 78% pre-let UK STE Bath Road, STE Farnham Road, STE Speculative developments Galvin Road, STE Total Project Pre-let projects under construction Ajax Avenue, STE Yeovil Road, STE Contracted projects APP Portal at Heathrow, London APP Portal at Heathrow, London Galvin Road, STE Customer Infinity Data centre operator Lonza Ragus Sugars Family Bargains DB Schenker Rolls-Royce n/a Under offer data centre *Includes APP Portal contracted projects at Group share Space to be built (sq m) 11,400 5,600 5,500 3,300 1,200 9,900 8,500 3,100 2,800 42,100* CONTINENTAL EUROPE Vimercate, Italy Lodz, Poland Krefeld, Germany Speculative developments Paris, France Berlin, Germany Total Project Pre-let projects under construction Vimercate, Italy Gliwice, Poland Tychy, Poland Frankfurt, Germany Poznan, Poland Contracted projects Dusseldorf, Germany Customer Alcatel-Lucent Sports retailer Zabka Pro Tex (30%) /speculative Esprinet (72%) /speculative OPEK Eurocash Wir Packens (80%) /speculative n/a Various 50% let 19m of annualised rental income and 117m of capex n/a Space to be built (sq m) 34,000 31,300 18,900 14,300 11,200 7,600 1,200 11,300 8,200 12,200 12, ,400 36

38 Industrial an attractive asset class IPD Total Returns % by Economic Cycle (annualised to 2010) IPD Income Returns % by Economic Cycle (annualised to 2010) Industrial Office Retail All Property Industrial Office Retail All Property IPD Total Returns % from 1986 to 2010 (annualised to 2010) IPD Income Returns % from 1986 to 2010 (annualised to 2010) Industrial Office Retail All Property 0 Industrial Office Retail All Property

39 Core and non-core valuation movements* Property assets Core Non-Core Total H ( m) 19.9 (33.6) (13.7) H ( m) (54.6) (187.0) (241.6) 50 Valuation movement ( m) Core Non-Core *Valuation movement relates to the total portfolio (completed properties, land and development). Joint ventures shown at share. 38

40 Large non-strategic assets Thales site (Crawley) Neckermann site (Frankfurt) IQ Farnborough (Farnborough) Pegasus Park (Brussels) MPM site (Munich) Total value: 515m Total headline rent: 45m Data as at 31 December 2011 Vimercate (Milan) 39

41 Forward-looking statements This presentation may contain certain forward-looking statements with respect to SEGRO s expectations and plans, strategy, management s objectives, future performance, costs, revenues and other trend information. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements and forecasts. The statements have been made with reference to forecast price changes, economic conditions and the current regulatory environment. Nothing in this presentation should be construed as a profit forecast. Past share performance cannot be relied on as a guide to future performance. 40

2012 Half Year Results. 2 August 2012

2012 Half Year Results. 2 August 2012 2012 Half Year Results 2 August 2012 0 Headlines Further operational progress good underlying earnings momentum Encouraging start to the strategic reshaping of our portfolio NAV impacted by the non-core

More information

Transforming segro s performance. Property analysis 2011

Transforming segro s performance. Property analysis 2011 Transforming segro s performance Property analysis 2011 CONTENTS Overview 02 Combined property portfolio and yield reconciliation 03 Summary analysis 04 Analysis of completed portfolio 05 Supplementary

More information

Real Estate Valuation and Analysis of Group s

Real Estate Valuation and Analysis of Group s Press Release 31 January 2013 Third quarter valuation and business update In today s Interim Management Statement, the Directors of Great Portland Estates plc ( GPE or Group ) announce an update on trading,

More information

5.5 million sq m of lettable space

5.5 million sq m of lettable space WE ARE SEGRO WHO WE ARE > We are Europe s leading provider of flexible business space. OPERATING IN EIGHT KEY COUNTRIES ACROSS EUROPE, WE DELIVER PROPERTY SOLUTIONS TO A BROAD RANGE OF CUSTOMERS AND INDUSTRY

More information

CGI of Longbridge Town Centre, Birmingham INVESTOR PRESENTATION

CGI of Longbridge Town Centre, Birmingham INVESTOR PRESENTATION CGI of Longbridge Town Centre, Birmingham INVESTOR PRESENTATION OCTOBER 2012 Agenda 1. About St. Modwen Properties PLC 2. Portfolio 3. Finances 4. Glossary of defined terms 2 About St. Modwen Properties

More information

EUROCASTLE INVESTMENT LIMITED. 2011 Investor Presentation

EUROCASTLE INVESTMENT LIMITED. 2011 Investor Presentation EUROCASTLE INVESTMENT LIMITED 2011 Investor Presentation Forward Looking Statements This release contains statements that constitute forward-looking statements. Such forward-looking statements may relate

More information

Deutsche Wohnen AG.» Investor Presentation. September 2010

Deutsche Wohnen AG.» Investor Presentation. September 2010 Deutsche Wohnen AG» Investor Presentation September 21 1 » Agenda 1 2 3 4 Introduction to Deutsche Wohnen Portfolio Overview and Operations Financial Highlights Guidance and Strategic Objectives 2 » 1

More information

Analyst meeting Full year results. Rotterdam 15 February 2013

Analyst meeting Full year results. Rotterdam 15 February 2013 Analyst meeting Full year results Rotterdam 15 February 2013 Portfolio & Strategy Focus on Netherlands and Belgium Exit strategy Switzerland; 70% assets sold; sale of 2 remaining assets ongoing High Yield

More information

Deutsche Wohnen AG.» Considerations on Vonovia's offer. 22 October 2015

Deutsche Wohnen AG.» Considerations on Vonovia's offer. 22 October 2015 Deutsche Wohnen AG» Considerations on Vonovia's offer 22 October 2015 1 » Vonovia offer totally inadequate on multiple dimensions 1 Offer represents significant discount to stand-alone intrinsic value

More information

Investor & Analyst Day 7 May 2014

Investor & Analyst Day 7 May 2014 Investor & Analyst Day 7 May 2014 Slough Trading Estate Itinerary Time Topic Speaker 10.45-10.50 Introduction David Sleath, SEGRO 10.50-11.05 Slough Trading Estate: Compelling business Gareth Osborn, SEGRO

More information

2008 annual results. Presentation on 18 February 2009

2008 annual results. Presentation on 18 February 2009 2008 annual results Presentation on 18 February 2009 1 2008: Continued growth Sustained business activity Lettings up by 9% in a market down 14%, including the pre-letting of two buildings under construction

More information

Deutsche Wohnen AG. Investor Presentation. December 2011

Deutsche Wohnen AG. Investor Presentation. December 2011 Deutsche Wohnen AG Investor Presentation December 2011 1 » Summary of investment highlights German residential: a resilient investment class Quality portfolio focused on attractive German Metropolitan

More information

Page 1. Grainger Trust plc

Page 1. Grainger Trust plc Page 1 Grainger Trust plc Contents Page No Grainger - an introduction 3-7 The market in which we operate 8-11 Grainger s core business regulated 12-14 Other parts of Grainger s business Equity release

More information

We are investors in UK property and our focus is on actively managing, financing and developing prime commercial property to

We are investors in UK property and our focus is on actively managing, financing and developing prime commercial property to We are investors in UK property and our focus is on actively managing, financing and developing prime commercial property to Investor Roadshow create the environment in which modern business can thrive.

More information

MEASURING OUR PERFORMANCE

MEASURING OUR PERFORMANCE MEASURING OUR PERFORMANCE Our objective is to provide above average long-term returns to shareholders through the execution of our strategy. In order to measure the effectiveness of the different strands

More information

First half results presentation. October 2006

First half results presentation. October 2006 First half results presentation October 2006 CONTENTS - Mines de la Lucette Group - First step of the strategy - Assets at 30 June 2006 - Consolidated financial statements at 30 June 2006 - Second step

More information

SCA PROPERTY GROUP ANNOUNCES FIRST HALF FY16 RESULTS

SCA PROPERTY GROUP ANNOUNCES FIRST HALF FY16 RESULTS ASX / MEDIA ANNOUNCEMENT 8 February 2016 SCA PROPERTY GROUP ANNOUNCES FIRST HALF FY16 RESULTS SCA Property Group (ASX: SCP) ( SCP or the Group ) is pleased to announce its results for the six months ended

More information

Assura plc Interim Condensed Consolidated Accounts for the 6 months ended 30 September 2015. Another period of significant growth

Assura plc Interim Condensed Consolidated Accounts for the 6 months ended 30 September 2015. Another period of significant growth Interim Results 2015 Released: 19 November 2015 RNS Number: Assura PLC 19 November 2015 Assura plc Interim Condensed Consolidated Accounts for the 6 months ended 30 September 2015 Another period of significant

More information

Restoring QinetiQ to Strength: Solid progress. QinetiQ Interim Results 2010 Thursday 18 th November 2010

Restoring QinetiQ to Strength: Solid progress. QinetiQ Interim Results 2010 Thursday 18 th November 2010 Restoring QinetiQ to Strength: Solid progress QinetiQ Interim Results 2010 Thursday 18 th November 2010 Leo Quinn Chief Executive Officer Agenda 1. Headlines 2. Financial overview 3. Operational update

More information

2014 Half-year results Start of the acquisition phase

2014 Half-year results Start of the acquisition phase Press release 2014/07/23 2014 Half-year results Start of the acquisition phase The Board of Directors' meeting held on July 23, 2014 under the chairmanship of March Inch approved the half-yearly accounts

More information

Grainger Trust plc. Preliminary Announcement of Results for the year ended 30 September 2005. 6 December 2005

Grainger Trust plc. Preliminary Announcement of Results for the year ended 30 September 2005. 6 December 2005 Grainger Trust plc Preliminary Announcement of Results for the year ended 30 September 2005 6 December 2005 Page 1 Contents Highlights Summary Profit and Loss Account Market Value Balance Sheet NAV Movements

More information

FY RESULTS 27 FEBRUARY 2015. Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer

FY RESULTS 27 FEBRUARY 2015. Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer 1 FY RESULTS 27 FEBRUARY 2015 Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer SAFE HARBOUR STATEMENT 2 Disclaimer This presentation includes forward-looking statements. Words

More information

Invesco Property Income Trust Limited

Invesco Property Income Trust Limited Invesco Property Income Trust Limited Half-Yearly Financial Report for the Six Months to 30 September 2009 KEY FACTS Invesco Property Income Trust Limited ( the Company ) is a closed-ended investment company

More information

QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER 2011

QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER 2011 QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER Media telephone conference 8 November Agenda Overview Financial highlights Jörg Schneider 2 Munich Re (Group) Jörg Schneider 4 Torsten Oletzky 13 Torsten

More information

Financial Review +0.3 % -14 % The Group s adjusted net asset value. The Group s underlying earnings ADJUSTED NAV. HK$39,627m UNDERLYING EARNINGS

Financial Review +0.3 % -14 % The Group s adjusted net asset value. The Group s underlying earnings ADJUSTED NAV. HK$39,627m UNDERLYING EARNINGS Performance and Outlook Financial Review The financial details outlined in this chapter provide an overview of the Group s consolidated results and financial capital as categorised by the International

More information

UniCredit German Investment Conference. September 23 rd, 2008

UniCredit German Investment Conference. September 23 rd, 2008 UniCredit German Investment Conference September 23 rd, 2008 1 » Agenda Deutsche Wohnen at a glance Operational Update Financial Highlights Targets and Outlook 2 » Who we are Deutsche Wohnen AG is an active

More information

Q1 2016 Results Conference Call

Q1 2016 Results Conference Call Q1 2016 Results Conference Call Karim Bohn, CFO 10 May 2016 PATRIZIA Immobilien AG PATRIZIA Bürohaus Fuggerstrasse 26 86150 Augsburg T +49 821 50910-000 F +49 821 50910-999 immobilien@patrizia.ag www.patrizia.ag

More information

Sponda Financial Results Q3 2015. 3 November 2015

Sponda Financial Results Q3 2015. 3 November 2015 Sponda Financial Results Q3 2015 3 November 2015 1. Highlights for the Period Kari Inkinen 2. Strategy Implementation Pia Arrhenius 3. Business environment and Business Update Kari Inkinen 4. Financials

More information

TLG IMMOBILIEN AG H1 2015 Results August 2015

TLG IMMOBILIEN AG H1 2015 Results August 2015 TLG IMMOBILIEN AG H1 2015 Results August 2015 Disclaimer This presentation includes statements, estimates, opinions and projections with respect to anticipated future performance of TLG IMMOBILIEN ("Forward-Looking

More information

Press release first quarter figures 2010

Press release first quarter figures 2010 Press release first quarter figures 2010 VASTNED RETAIL REALISES DIRECT INVESTMENT RESULT OF 17.1 MILLION IN SPITE OF DIFFICULT LETTING MARKET; VALUE MOVEMENTS IN PROPERTY PORTFOLIO BACK INTO BLACK AFTER

More information

Year-end Report 2015. 400 Fairview, Seattle, U.S.

Year-end Report 2015. 400 Fairview, Seattle, U.S. Year-end Report 400 Fairview, Seattle, U.S. Year-end Report Strong result on a group level Improved profitability Strong performance in Project Development Strong cash flow and financial position Operating

More information

Savills plc. Results for the year ended 31 December 2015

Savills plc. Results for the year ended 31 December 2015 Savills plc Results for the year ended 31 December 215 1 March 216 1 Disclaimer: Forward-looking statements These slides contain certain forward-looking statements including the Group s financial condition,

More information

Results 2007. Analyst & Investor Conference / Conference call March 27, 2008

Results 2007. Analyst & Investor Conference / Conference call March 27, 2008 Results 2007 Analyst & Investor Conference / Conference call March 27, 2008 Agenda Highlights 2007 Results 2007 Outlook and guidance 2008 Shareholder structure / Share price 2 2007 a challenging Year Peak

More information

Sponda Financial Results Q1 2016. 4 May 2016

Sponda Financial Results Q1 2016. 4 May 2016 Sponda Financial Results Q1 2016 4 May 2016 1. Highlights for the Period Kari Inkinen 2. Portfolio Development Pia Arrhenius 3. Business Environment and Business Update Kari Inkinen 4. Financials Niklas

More information

Secure Trust Bank PLC. 2015 INTERIM RESULTS 21st July 2015

Secure Trust Bank PLC. 2015 INTERIM RESULTS 21st July 2015 Secure Trust Bank PLC 2015 INTERIM RESULTS 21st July 2015 Introduction & business review PAUL LYNAM Chief Executive Officer Strategy continues to deliver Maximise shareholder value: To maximise shareholder

More information

Best Practices Recommendations Additional Guidance January 2014

Best Practices Recommendations Additional Guidance January 2014 Best Practices Recommendations Additional Guidance January 2014 Best Practices Recommendations Additional Guidance Contents 1. Introduction 2. General Recommendations 3. EPRA Earnings 4. EPRA NAV 5. EPRA

More information

Results Announcement for the half year ending 31 December 2013. Centuria Capital Limited Presentation to Investors and Analysts

Results Announcement for the half year ending 31 December 2013. Centuria Capital Limited Presentation to Investors and Analysts Results Announcement for the half year ending 31 December 2013 Centuria Capital Limited Presentation to Investors and Analysts Half year summary First half year performance in line with expectations Underlying

More information

Société Générale The Premium Review Conference. 02 December 2009

Société Générale The Premium Review Conference. 02 December 2009 Société Générale The Premium Review Conference 02 December 2009 Chris Lucas Group Finance Director Group performance Nine months ended September 2009 m 2008 m % change Income 23,786 18,830 26 Operating

More information

How To Make Money From Property In Austria

How To Make Money From Property In Austria Press Release Regulated Information 2 March 2015 Annual results 2014 Profit for the year of 49.4 million (+ 25.1 million against 2013) 117.4% increase of committed annualised rent income to 22.6 million

More information

Great Portland Estates Trading Update continued strong progress

Great Portland Estates Trading Update continued strong progress Press Release 10 February 2016 Great Portland Estates Trading Update continued strong progress Great Portland Estates plc ( GPE or Group ) today publishes its trading update for the quarter to 31 December

More information

A strong third quarter

A strong third quarter A strong third quarter Interim presentation for the third quarter 2015 Stockholm, 5 November 2015 Anders Nissen, CEO Liia Nõu, CFO Today s agenda Introduction Financial review Business model and value

More information

UBS Global Real Estate Conference. Offices: Bullish Times Ahead?

UBS Global Real Estate Conference. Offices: Bullish Times Ahead? UBS Global Real Estate Conference Stephen Hester, Chief Executive We are real estate investors and create value by actively managing, financing and developing prime commercial property to provide the environment

More information

Press Release Corporate News Vienna, 18 March 2015

Press Release Corporate News Vienna, 18 March 2015 Press Release Corporate News Vienna, 18 March 2015 IMMOFINANZ with stable operating performance in the first three quarters, Net profit reduced New share buyback program resolved KEY FIGURES (in MEUR)

More information

Vattenfall Q2 2013 results

Vattenfall Q2 2013 results Vattenfall Q2 2013 results Øystein Løseth, CEO and Ingrid Bonde, CFO Conference call for analysts and investors, 23 July 2013 Q2 Highlights Impairment charges on thermal assets and goodwill amounting to

More information

Grainger Strategy Update 28 January 2016

Grainger Strategy Update 28 January 2016 Grainger Objective A strategy to deliver improved shareholder returns Grow rents Simplify and focus Build on our heritage 2 Strategy review process The strategy review process Bottom up review of every

More information

Deutsche Wohnen AG.» Where we stand, where we go. October 2011

Deutsche Wohnen AG.» Where we stand, where we go. October 2011 Deutsche Wohnen AG» Where we stand, where we go October 2011 1 » Management team We are committed to combine value and sustainable growth while moving forward Deutsche Wohnen as the leading residential

More information

Derwent London plc ( Derwent London / the Group ) INTERIM MANAGEMENT STATEMENT FOR THE THREE MONTHS ENDED 31 MARCH 2013

Derwent London plc ( Derwent London / the Group ) INTERIM MANAGEMENT STATEMENT FOR THE THREE MONTHS ENDED 31 MARCH 2013 10 May 2013 Derwent London plc ( Derwent London / the Group ) INTERIM MANAGEMENT STATEMENT FOR THE THREE MONTHS ENDED 31 MARCH 2013 DELIVERING AND LETTING PROJECTS 268,000 sq ft (24,900m 2 ) let in Q1

More information

(Incorporated in Bermuda) (Registration number 47031) BSX share code: STP.BH JSE share code: STP ISIN: BMG8465Y1093

(Incorporated in Bermuda) (Registration number 47031) BSX share code: STP.BH JSE share code: STP ISIN: BMG8465Y1093 HALF YEARLY REPORT Stenprop Limited ( Stenprop or the Company or the Group ) is a European property investment group focused on cultivating a diversified portfolio of quality investment properties delivering

More information

PRESS RELEASE EUROCOMMERCIAL PROPERTIES N.V. NINE MONTHS RESULTS 2015/2016

PRESS RELEASE EUROCOMMERCIAL PROPERTIES N.V. NINE MONTHS RESULTS 2015/2016 Date: 13 May 2016 Release: Before opening of Euronext Amsterdam PRESS RELEASE EUROCOMMERCIAL PROPERTIES N.V. NINE MONTHS RESULTS 2015/2016 Direct investment result and overall annual retail sales turnover

More information

Q1 Trading Update, FY 2011

Q1 Trading Update, FY 2011 ARYZTA AG Q1 Trading Update, FY 2011 29 November 2010 Forward Looking Statement This document contains forward looking statements which reflect management s current views and estimates. The forward looking

More information

Sponda Financial Results 2015. 4 February 2016

Sponda Financial Results 2015. 4 February 2016 Sponda Financial Results 2015 4 February 2016 1. Highlights for the Period Kari Inkinen 2. Forum Acquisition Pia Arrhenius 3. Business environment and Business Update Kari Inkinen 4. Financials Niklas

More information

Great Hall, Bay Campus, Swansea University

Great Hall, Bay Campus, Swansea University Great Hall, Bay Campus, Swansea University Half Year Results Annoucement To 2016 St. Modwen Properties PLC Half Year Results Annoucement Date of issue: 5 th July 2016 ST. MODWEN PROPERTIES PLC ( St. Modwen,

More information

Land Securities Group PLC ( Land Securities / the Group / the Company )

Land Securities Group PLC ( Land Securities / the Group / the Company ) Press Release 19 January 2010 Land Securities Group PLC ( Land Securities / the Group / the Company ) THIRD QUARTER INTERIM MANAGEMENT STATEMENT In the third quarter Land Securities continued to focus

More information

Secure Trust Bank PLC. 2014 YEAR END RESULTS 19th March 2015

Secure Trust Bank PLC. 2014 YEAR END RESULTS 19th March 2015 Secure Trust Bank PLC 2014 YEAR END RESULTS 19th March 2015 Introduction PAUL LYNAM Chief Executive Officer Strategy Continues to Deliver Maximise shareholder value by: To maximise shareholder value through

More information

ING OFFICE FUND Acquisition of Bastion Tower, Brussels and Institutional Placement of $70.0m

ING OFFICE FUND Acquisition of Bastion Tower, Brussels and Institutional Placement of $70.0m ING OFFICE FUND Acquisition of Bastion Tower, Brussels and Institutional Placement of $70.0m 1 November 2007 0 DISCLAIMER NOT FOR DISTRIBUTION OR RELEASE IN THE UNITES STATES OR TO U.S. PERSONS This presentation

More information

FULL YEAR RESULTS PRESENTATION

FULL YEAR RESULTS PRESENTATION FULL YEAR RESULTS PRESENTATION FULL YEAR ENDED 31 MARCH 2012 www.britishland.com CHRIS GRIGG Chief Executive Introduction Good set of results Profits: +5.1% NAV: +4.9% Q4 Valuation: +0.3% Total Returns:

More information

Trinity Mirror plc. 2015 ANNUAL RESULTS 29 February 2016

Trinity Mirror plc. 2015 ANNUAL RESULTS 29 February 2016 2015 ANNUAL RESULTS 29 February 2016 Today s agenda Highlights Financial update Simon Fox Vijay Vaghela Strategic and operational update Simon Fox 1 Highlights Group financial performance (a) Group revenue

More information

Prologis Announces Fourth Quarter and Full Year 2013 Earnings Results

Prologis Announces Fourth Quarter and Full Year 2013 Earnings Results January 30, 2014 Prologis Announces Fourth Quarter and Full Year 2013 Earnings Results - Leased record 43.7 million square feet in Q4 and 152 million square feet in 2013 - - Occupancy increased to 95.1

More information

NN Group N.V. 30 June 2015 Condensed consolidated interim financial information

NN Group N.V. 30 June 2015 Condensed consolidated interim financial information Interim financial information 5 August NN Group N.V. Condensed consolidated interim financial information Condensed consolidated interim financial information contents Condensed consolidated interim

More information

Finance. Peter Van Rossum. Chief Financial Officer September 19, 2014. SBM Offshore 2014. All rights reserved. www.sbmoffshore.com

Finance. Peter Van Rossum. Chief Financial Officer September 19, 2014. SBM Offshore 2014. All rights reserved. www.sbmoffshore.com Finance Peter Van Rossum Chief Financial Officer September 19, 2014 SBM Offshore 2014. All rights reserved. www.sbmoffshore.com Disclaimer Some of the statements contained in this presentation that are

More information

Interim statement of the Board of Directors for the period from 1 January 2015 to 31 March 2015

Interim statement of the Board of Directors for the period from 1 January 2015 to 31 March 2015 Press release Regulated information Embargo 13 May 2015 5.40 PM CREATING VALUE IN REAL ESTATE Interim statement of the Board of Directors for the period from 1 January 2015 to 31 March 2015 Acquisition

More information

2015 Results and Prospects

2015 Results and Prospects PRESS RELEASE Paris, 23 March 2016 2015 Results and Prospects Revenues: 2,579.3 million, up 3.2% EBITDA: 342.0 million, an operating margin of 13.3% 2016 Objectives: revenues close to 3 billion and an

More information

Reed Elsevier Results 2013 Erik Engstrom, CEO Duncan Palmer, CFO

Reed Elsevier Results 2013 Erik Engstrom, CEO Duncan Palmer, CFO Reed Elsevier Results Erik Engstrom, CEO Duncan Palmer, CFO FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 27A of the US Securities Act of

More information

How To Improve Profits At Bmoi

How To Improve Profits At Bmoi Bank of America Merrill Lynch Banking and Insurance CEO Conference London, 29 September 2009 Good morning. I d like to thank Bank of America Merrill Lynch for letting us speak this morning. Before I talk

More information

Cash Drivers and Enterprise Value

Cash Drivers and Enterprise Value Cash Drivers and Enterprise Value Global Investor Forum 2009, Broughton, 1 st & 2 nd April 2009 Gérard Adsuar Corporate Executive Finance & Treasury, EADS 1 1 Safe Harbour Statement Disclaimer This presentation

More information

Deutsche Wohnen AG.» Full Year Results 2009. Conference Call, 26 March 2010

Deutsche Wohnen AG.» Full Year Results 2009. Conference Call, 26 March 2010 Deutsche Wohnen AG» Full Year Results 2009 Conference Call, 26 March 2010 1 » Agenda 1. Results of the financial year 2009 2. Financial highlights 2009 3. Strategic objectives 4. Forecast 2 » 1 Results

More information

Investor conferences Asia, United Kingdom and United States September and October 2015

Investor conferences Asia, United Kingdom and United States September and October 2015 MARKET ANNOUNCEMENT Computershare Limited ABN 71 005 485 825 Yarra Falls, 452 Johnston Street Abbotsford Victoria 3067 Australia PO Box 103 Abbotsford Victoria 3067 Australia Telephone 61 3 9415 5000 Facsimile

More information

ManpowerGroup Second Quarter Results

ManpowerGroup Second Quarter Results ManpowerGroup Second Quarter Results July 21, 2015 FORWARD-LOOKING STATEMENT This presentation contains includes forward-looking statements, including statements financial which projections, are subject

More information

Investor and Analyst Q1 2014 Conference Call

Investor and Analyst Q1 2014 Conference Call Investor and Analyst Q1 2014 Conference Call Essen, 14 May 2014 Bernhard Günther Chief Financial Officer Stephan Lowis Vice President Investor Relations Forward Looking Statement This presentation contains

More information

1st quarter 2015 Oslo, 30 April 2015

1st quarter 2015 Oslo, 30 April 2015 1st quarter 2015 Oslo, 30 April 2015 Agenda Highlights Financial update Markets and operations Closing remarks Olav Line Svein Hov Skjelle Olav Line Olav Line Q&A session 2 Revenue growth and increasing

More information

CONFERENCE CALL. Q1 2012 Results 15.05.2012

CONFERENCE CALL. Q1 2012 Results 15.05.2012 CONFERENCE CALL Q1 2012 Results 15.05.2012 Q1 2012 COMPANY Highlights Q1 2012 Increase of the shareholdings in Rhein-Neckar-Zentrum, Allee-Center Hamm and Rathaus-Center Dessau to 100% Rhein-Neckar-Zentrum

More information

Willis Group Holdings. February 2014 I Bank of America Merrill Lynch Insurance Conference

Willis Group Holdings. February 2014 I Bank of America Merrill Lynch Insurance Conference Willis Group Holdings February 2014 I Bank of America Merrill Lynch Insurance Conference Disclaimer Important disclosures regarding forward-looking statements These presentations contain certain forward-looking

More information

Conference Call on Acquisition of BauBeCon and Expansion in New Europe. 19 July, 2007

Conference Call on Acquisition of BauBeCon and Expansion in New Europe. 19 July, 2007 Conference Call on Acquisition of BauBeCon and Expansion in New Europe 19 July, 2007 Disclaimer 2 This presentation contains forward-looking statements regarding future events and the future results of

More information

INTERIM REPORT TO SHAREHOLDERS JUNE 30, 2002

INTERIM REPORT TO SHAREHOLDERS JUNE 30, 2002 Q2.qxd 8/20/2002 4:22 PM Page 1 INTERIM REPORT TO SHAREHOLDERS JUNE 30, 2002 FINANCIAL HIGHLIGHTS Three months ended June 30 Six months ended June 30 (Millions, except per share amounts) 2002 2001 2002

More information

INVESTOR AND ANALYST PRESENTATION. Six months ended 31 March 2015. INVESTOR AND ANALYST PRESENTATION Six months ended 31 March 2015

INVESTOR AND ANALYST PRESENTATION. Six months ended 31 March 2015. INVESTOR AND ANALYST PRESENTATION Six months ended 31 March 2015 INVESTOR AND ANALYST PRESENTATION Six months ended 31 March 2015 INVESTOR AND ANALYST PRESENTATION Six months ended 31 March 2015 Agenda 2 Introduction Results and finance Portfolio review Summary and

More information

Reliable Performance and Increasing Growth Hans-Peter Ring Chief Financial Officer EADS. North America Investor Forum New York 7 th October 2003

Reliable Performance and Increasing Growth Hans-Peter Ring Chief Financial Officer EADS. North America Investor Forum New York 7 th October 2003 Reliable Performance and Increasing Growth Hans-Peter Ring Chief Financial Officer EADS North America Investor Forum New York 7 th October 2003 1 1 Solid and Resilient Performance Financial Highlights

More information

ING Office Fund Extraordinary Unitholder Meeting

ING Office Fund Extraordinary Unitholder Meeting ING Office Fund Extraordinary Unitholder Meeting 2 April 2009 Times Square, 16-18 Mort Street, Belconnen ACT Agenda Purpose of meeting Market update Results and portfolio review Formal business - Resolution

More information

Extraordinary General Meeting 7 october 2011

Extraordinary General Meeting 7 october 2011 Extraordinary General Meeting 7 october 2011 DISCLAIMER Forward-looking statement (safe harbour) This presentation includes forward-looking statements (drawn up in accordance with the Private Securities

More information

Presentation to Analysts 2009 Preliminary Results. 16 March 2010

Presentation to Analysts 2009 Preliminary Results. 16 March 2010 Presentation to Analysts 2009 Preliminary Results 16 March 2010 Contents Executive Summary Delivering returns 2009 performance overview Business progress Market place Positive outlook The numbers behind

More information

E.ON Debt Investor Update Call. Cleaner & better energy. Dr. Marcus Schenck, CFO September 3, 2012

E.ON Debt Investor Update Call. Cleaner & better energy. Dr. Marcus Schenck, CFO September 3, 2012 E.ON Debt Investor Update Call Cleaner & better energy Dr. Marcus Schenck, CFO September 3, 2012 Agenda Operating update Financial update 1 Cleaner & better energy Europe Investment Performance Outside

More information

CONFERENCE CALL. FY2013 Preliminary Results 21.03.2014

CONFERENCE CALL. FY2013 Preliminary Results 21.03.2014 CONFERENCE CALL FY2013 Preliminary Results 21.03.2014 FY 2013 COMPANY Highlights 2013 May Increase of the shareholdings to 100% in Altmarkt-Galerie Dresden as of 1 May 2013 67% were already owned by DES

More information

Intertrust Sees Solid Performance in Q1

Intertrust Sees Solid Performance in Q1 Intertrust Sees Solid Performance in and expects Full Year Adjusted net income per share of at least 1.30 Intertrust N.V. results Amsterdam, April 21,, Intertrust N.V. ( Intertrust or Company ) [ticker

More information

Good start to 2015 Quarterly financial statements as at 31 March 2015

Good start to 2015 Quarterly financial statements as at 31 March 2015 plainpicture/fstop/ralf Hiemisch Good start to 205 7 May 205 Jörg Schneider Torsten Oletzky Torsten Jeworrek Agenda Munich Re (Group) 2 Munich Health 9 Business field ERGO 3 Reinsurance 9 Outlook 28 2

More information

Three Month Report 2010. Tampa Museum of Art, Florida

Three Month Report 2010. Tampa Museum of Art, Florida Three Month Report Tampa Museum of Art, Florida 1 JanuaryMarch in brief New accounting standards Revenue for the Group SEK 25.8 bn (3.1) Revenue in Construction SEK 23.3 bn (3.5) Down 17 percent in local

More information

LondonMetric today announces its half yearly results for the six months ended 30 September 2015. Half Year 30 September 2015

LondonMetric today announces its half yearly results for the six months ended 30 September 2015. Half Year 30 September 2015 LONDONMETRIC PROPERTY PLC ( LondonMetric or the Group or the Company ) HALF YEAR RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER DISTRIBUTION STRATEGY DELIVERS NAV AND EARNINGS GROWTH LondonMetric today

More information

NN GROUP FINANCIAL SUPPLEMENT 1Q2016

NN GROUP FINANCIAL SUPPLEMENT 1Q2016 NN GROUP FINANCIAL SUPPLEMENT 1Q2016 NN GROUP FINANCIAL SUPPLEMENT 1Q2016 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Figures are

More information

Deutsche Wohnen AG.» German Jour Fixe 1-1 Conference Merrill Lynch. London, 27 April 2010

Deutsche Wohnen AG.» German Jour Fixe 1-1 Conference Merrill Lynch. London, 27 April 2010 Deutsche Wohnen AG» German Jour Fixe 1-1 Conference Merrill Lynch London, 27 April 2010 1 » Agenda 1. Deutsche Wohnen at a glance 2. Results of the financial year 2009 3. Financial highlights 2009 4. Strategic

More information

TRANSITIONING PCCW David Prince, Group CFO. CLSA Investors Forum Hong Kong - 15 May, 2001

TRANSITIONING PCCW David Prince, Group CFO. CLSA Investors Forum Hong Kong - 15 May, 2001 TRANSITIONING PCCW David Prince, Group CFO CLSA Investors Forum Hong Kong - 15 May, 2001 FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements that involve risks and uncertainties.

More information

Derwent London plc ( Derwent London / the Group )

Derwent London plc ( Derwent London / the Group ) 17 November 2011 Derwent London plc ( Derwent London / the Group ) INTERIM MANAGEMENT STATEMENT FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2011 Continued strong letting progress and further rental growth during

More information

Indian Accounting Standard (Ind AS) 7 Statement of Cash Flows

Indian Accounting Standard (Ind AS) 7 Statement of Cash Flows Contents Indian Accounting Standard (Ind AS) 7 Statement of Cash Flows Paragraphs OBJECTIVE SCOPE 1 3 BENEFITS OF CASH FLOW INFORMATION 4 5 DEFINITIONS 6 9 Cash and cash equivalents 7 9 PRESENTATION OF

More information

Full Year Results year ended 31 December 2015. Investing in the future of integrated healthcare

Full Year Results year ended 31 December 2015. Investing in the future of integrated healthcare Full Year Results year ended 31 December 2015 Investing in the future of integrated healthcare Primary Health Properties PLC (PHP.L) A dedicated healthcare REIT www.phpgroup.co.uk AGENDA - Introduction

More information

Standard Chartered today releases its Interim Management Statement for the third quarter of 2015.

Standard Chartered today releases its Interim Management Statement for the third quarter of 2015. Standard Chartered PLC Interim Management Statement 3 November 2015 Standard Chartered today releases its Interim Management Statement for the third quarter of 2015. Bill Winters, Group Chief Executive,

More information

Preliminary Results Presentation June 2011

Preliminary Results Presentation June 2011 Preliminary Results Presentation June 2011 Michael Knight Chairman Nigel Godefroy Group Chief Executive Natasha Gadsdon Finance Director Year of progress Air South West Disposed reducing overall risk to

More information

Outlook for European Real Estate in 2013. Mark Charlton, Head of Research & Forecasting

Outlook for European Real Estate in 2013. Mark Charlton, Head of Research & Forecasting Outlook for European Real Estate in 2013 Mark Charlton, Head of Research & Forecasting Tuesday 20 th November 2012 Europe - uncertainty continues to buffet sentiment Oct 06 Oct 07 Oct 08 Oct 09 Oct 10

More information

Health Care Worldwide. Citi - European Credit Conference September 24, 2015 - London

Health Care Worldwide. Citi - European Credit Conference September 24, 2015 - London Health Care Worldwide Citi - European Credit Conference September 24, 2015 - London Safe Harbor Statement This presentation contains forward-looking statements that are subject to various risks and uncertainties.

More information

MMS Group FY15 Results Presentation. August 2015

MMS Group FY15 Results Presentation. August 2015 August 2015 Group Overview 2 Overview MMS generated a record financial result in FY15 o EBITDA up 20%, NPAT up 23%, EPS up 18% MMS has entered a new stage in its evolution o Step change in scale, competitiveness

More information

Company Roadshow Presentation HAMBORNER REIT AG. Preliminary figures 2012 February 2013

Company Roadshow Presentation HAMBORNER REIT AG. Preliminary figures 2012 February 2013 Company Roadshow Presentation HAMBORNER REIT AG Preliminary figures 2012 February 2013 HAMBORNER REIT AG key investment highlights Creating sustainable shareholder value Strong asset and portfolio management

More information

NEWS RELEASE 16 July 2008. Wolseley plc Pre-Close Period Trading Statement for the eleven months ended 30 June 2008

NEWS RELEASE 16 July 2008. Wolseley plc Pre-Close Period Trading Statement for the eleven months ended 30 June 2008 NEWS RELEASE 16 July 2008 Wolseley plc Pre-Close Period Trading Statement for the eleven months ended 30 June 2008 Wolseley plc, the world s largest specialist trade distributor of plumbing and heating

More information

Q1 RESULTS 2015 30 APRIL 2015. Harald Wilhelm I Chief Financial Officer

Q1 RESULTS 2015 30 APRIL 2015. Harald Wilhelm I Chief Financial Officer 1 Q1 RESULTS 2015 30 APRIL 2015 Harald Wilhelm I Chief Financial Officer SAFE HARBOUR STATEMENT 2 Disclaimer This presentation includes forward-looking statements. Words such as anticipates, believes,

More information

Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015

Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015 Press release For business desks 7 May 2015 Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015 Revenues before loan loss provisions in the Group increased year-on-year

More information