Sponda Financial Results Q November 2015
|
|
- Horace Gibson
- 7 years ago
- Views:
Transcription
1 Sponda Financial Results Q November 2015
2 1. Highlights for the Period Kari Inkinen 2. Strategy Implementation Pia Arrhenius 3. Business environment and Business Update Kari Inkinen 4. Financials Kari Inkinen 2
3 1. Highlights for the period
4 Sponda s Q in brief Core portfolio performance is strong. - Confirms the company s transformation strategy. The decline in NOI is due to the realized property disposals. Like-for-like rents are positive except in Russia. Occupancy rate at 86.2% (Q3 2014: 86.5%). - Disposal of assets in Russia at the end of June had a slightly negative impact on the occupancy rate (40 bps). 4
5 Sponda s Q in brief Keskuskatu 1 renovation completed at the end of September. Divestment of Certeum s shares agreed in October. - Transaction price EUR 190 million including EUR 7 million profit. - Transaction set to close by 16 December Income from Certeum will cease at the end of September. 5
6 Development and modernization investments For the two greenfield projects Sponda expects 15% development gain. Leasable area m² Estimated completion Total investment M Investment by the end of September 2015 Pre-let % Estimated market rent Eur/m²/month Greenfield developments Ratina shopping centre, Tampere 53,000 Summer N/A Ilmala office property, Helsinki 18,500 End of Modernization investments Keskuskatu 1b, Helsinki 2,048 September Total 73,
7 Sponda Q3 2015: Performance highlights 7-9/15 Change, % 7-9/14 1-9/15 Change, % 1-9/ /14 Total revenue, M 56.7 (10.3) (8.5) Net Operating Income, M 42.2 (8.7) (8.3) Operating profit, M 38.3 (9.2) Cash flow from operations/share, 0.10 (9.0) Earnings/share, 0.06 (14.2) NAV/share, EPRA NAV/share, Economic occupancy rate, % 86.2 (0.3)
8 Risk allocation of Sponda s portfolio Total of the office and shopping centres properties portfolio, EUR 2.6 billion (excl. Russia, Property Development, Logistics) Vantaa total 0.5% Rest of HMA 14% Oulu 3.0% Tampere 9.5% Espoo total 7.0% 22% 44% 8
9 9
10 Sponda s priorities in 2015 Occupancy rate development Our target is to keep occupancy rate at the end-of-2014 level at minimum. At the end of Sep 2015, our occupancy rate was 86.2%. Implementing our strategy We will continue the non-core property divestments. To-date we have sold properties for EUR 57.8 m. Stable cash flow from operations per share Focus in property development We aim to maintain our ability to pay stable dividend. During 2015, four large property development projects will be completed. Our target is to start at least one large development project in Dividend paid for fy 2014 was EUR In March we announced a start of Ratina shopping centre. 10
11 2. Strategy Implementation
12 What we set out to do in 2013 The main goals are to simplify the business structure, more focused property ownership and profitable growth. The timeline for these goals was originally set to 3-5 years. After two years this is where we are: - 50% of the targeted sales has been completed. - We have made total profit from the sales for EUR 10 million. Sell our Property Funds business Sell our logistics property portfolio We sold the Funds business and the properties in the Fund to new logistics company Certeum. Our shares in Certeum will be sold by the end of We have sold logistics properties for EUR 220 million to-date. Sell our properties in Russia We have sold properties for EUR 49 million. Sell our properties in Turku We have sold all but one small office property. 12
13 What we set out to do in 2013 The capital received from the disposals will be invested in Sponda s main markets in Helsinki and Tampere. Investments include both property development projects and office and shopping centre properties. The investments we have made and will make are: Property development business We have active development projects ongoing in Helsinki and Tampere for about EUR 300 million. Property acquisitions We have acquired an office property in Tampere for EUR 63.7 million. 13
14 3. Business Environment and Business Update
15 Finnish Market Growth in Finland is still limited with an estimated 0.2% GDP growth for However, MofF estimates a slightly positive turn for the second half of the year. Property transaction volume has remained record-high at EUR 4.1 billion during the nine months of the year. - International investors accounted for 30% of the deals. Sources: KTI, Mof F 15
16 Market Vacancy Rate in HMA, office properties Source: Catella Property 16
17 Segment performance Office Shopping Centres Logistics Russia 1-9/15 1-9/14 1-9/15 1-9/14 1-9/15 1-9/14 1-9/15 1-9/14 Net Operating Income, M Fair Value of Properties, M 1, Change in Fair Value of Properties, m (6.6) (2.6) (21.9) (9.9) Economic Occupancy Rate, % Divestments, M Acquisitions, M
18 Like-for-like development in Q Like-for-like net rental growth has been calculated from a portfolio that Sponda has held for 2 years excluding acquisitions, disposals and property development. Like-for-like net rental growth, % 20,0 % 15,0 % 16,2 % 10,0 % 5,0 % 0,0 % 3,7 % 1,7 % -6,9 % -5,0 % -10,0 % Office Retail Logistics Russia 4,0 3,4 Like-for-like net rental growth, M 3,0 2,7 2,0 1,0 0,0 0,7 0,9 0,9 0,6 0,5 0,2 0,0-1,5-0,9-0,6-1,0-2,0 Office Retail Logistics Russia Change in turnover Change in maintenance Net change 18
19 Economic vacancy rate 2009 Q Q4/2009 Q4/2010 Q4/2011 Q4/12 Q4/13 Q4/14 Q3/15 Office 12.0% Shopping Centres 9.4 % Logistics 32.2 % Russia 17.7 % Total property portfolio 13.8 % HMA market office vacancy 13.4 % 19
20 Lease agreements in Q Pcs M² /m²/month (avg)* New agreements that came into force during the period Agreements that ended during the period Agreements that were extended during the period *) Agreements that came into force and ended do not necessarily correlate with same sector or space. All lease agreements in Finland are linked to CPI. Ten largest tenants account for 31 % of rental income. 20
21 Investment portfolio development We are creating value by property development and active portfolio management. Our aim is to sell non-core assets classified as such either by location or development potential. M Q Property development investments Maintenance investments/ Tenant improvements Acquisitions Divestments
22 4. Financials
23 Profit & loss statement M 7-9/ / / / /2014 Total revenue Expenses (14.5) (17.1) (48.9) (53.7) (70.6) Net operating income Profit on sale of inv. properties (1.5) Valuation gain / loss (1.8) (0.2) Amortisation of goodwill (2.6) 0.0. (2.6) Profit on sale of trading properties SGA expenses (5.2) (5.5) (16.1) (16.5) (22.1) Share of profit from associated companies (3.5) Other operating income/expenses 0.0 (0.5) 0.3 (1.1) (1.2) Operating profit Financial income and expenses (13.0) (14.4) (36.8) (44.3) (55.9) Profit before taxes Taxes from previous and current fin. years (0.3) (0.5) (1.7) (1.7) (1.8) Deferred taxes (7.1) (5.4) (22.5) (12.5) (20.4) Profit for the period
24 Valuation gains/losses M 7-9/ / / / /2014 Changes in yield requirements (Finland) Changes in yield requirements (Russia) (7.4) 0.0 (10.0) Profit/loss from property development projects Modernization investments (6.8) (11.5) (27.5) (27.7) (42.0) Change in market rents and maintenance costs (Finland) Change in market rents and maintenance costs (Russia) (8.2) (14.3) (15.1) (19.3) Change in exchange rates (2.4) 4.1 (0.2) Investment properties, total 0.5 (2.6) 12.9 (5.3) (3.9) Real estate funds (1.9) (1.8) Realised gains/losses in re funds Group, total (1.8) (0.2) 24
25 Financing Q3/2015 Q2/2015 Q1/2015 Q4/2014 Q3/2014 Equity ratio, % Average interest rate, % Hedging, % Average loan maturity, yrs Average fixed interest rate period, yrs Interest cover ratio 3.4x 3.4x 3.5x 3.3x 3.3x Loan to Value, % Covenants at: Equity ratio, 28% (long-term ER target: 40% ICR 1.75x 25
26 M Loan maturities, 30 September 2015 Interest-bearing debt EUR 1,724.7million Unused financing limits EUR 510 million Bank loans Syndicated loans Bonds Commercial papers
27 Syndicated credit limit On 2 November, Sponda signed a syndicated credit limit with three Nordic banks. Limit is for EUR 80 million and maturity is for 5 years. Replaces a maturing EUR 150 million credit limit. 27
28 Prospects and financial targets Net operating income Sponda estimates that the net operating income for 2015 will amount to EUR (previously ) million. The estimate is based on the company s view of property sales to be completed and the development of rental operations during the year. EPRA Earnings Sponda estimates that company adjusted EPRA Earnings in 2015 will amount to EUR (previously ) million. This outlook is based on the development of net operating income and the company s estimate of the development of financial expenses. Financial targets Long-term equity ratio target is 40 %. Dividend policy is to pay approx. 50 % of the operational cash earnings per share, taking into account of the economic situation and company s development needs. 28
29
30 Strategy Main goals of Sponda s strategy are to simplify the business as a whole, to have more focused property portfolio, and to grow profitably. To achieve the strategic goals, Sponda is: - Selling the logistics portfolio; - Selling the Russian portfolio; and - Investing in prime properties in Helsinki and Tampere. 30
31 Largest Shareholders 30 September 2015 Major shareholders No. of shares Holding % 1. Oy PALSK Ab 42,163, Varma Mutual Pension Insurance Company 29,083, HC Fastigheter Holding Oy Ab 28,484, The State Pension Fund 3,200, Tiiviste-Group Oy 1,000, OP-Finland Value Fund 980, Norvestia plc 718, Danske Bank AS Helsinki Branch 689, I.A. von Julins STB 570, Odin Eiendom 569, Nominee-registered shareholders 50.0% of the total 31
32 Overview of the current reporting segments Fair value 1 Valuation yield 2 Net initial yield 3 % of portfolio 4 60% Office M 6.2% 5.8% Shopping Centres M 5.7% 4.8% 23% Logistics M 8.3% 4.4% 7% Property Development M n/m n/m 5% Russia M 10.4% 4.81% 5% Property Investment Companies 21.4 M (Equity invested) Notes: 1) Fair value of investment properties as at 30 September ) Average valuation yield requirement as at 30 September ) Net initial yield of the segment as at 30 September ) Share of total fair value of properties as 30 September
33 Office market statistics and Sponda s holdings Source: Catella Property, Sponda Vacancy 11.2% Rental level avg /m²/yr Yield avg % 3% Vacancy 11.0% Rental levels /m²/yr Yield avg % 8% 85% Vacancy avg 17% Rental levels $ /m²/yr Yield 10-15% Vacancy avg 13.0% Rental levels /m²/yr Yield % <1% 4% 33
34 Lease agreement composition Q Lease maturity profile, % of rental income Tenant breakdown by sector¹ Average lease maturity Office Shopping centres Logistics Russia Q Q Note 1: Based on rental income Total 0,0 2,0 4,0 6,0 34
35 Balance sheet M ASSETS Investment properties 3, , ,142.1 Other non-current assets Fixed assets & other non-current assets, total , ,393.0 Current assets, total Assets, total 3, , ,449.2 SHAREHOLDERS EQUITY AND LIABILITIES Shareholders equity, total 1, , ,411.5 Non-current liabilities, total 1, , ,413.6 Current liabilities, total Shareholders equity and liabilities, total 3, , ,
36 NAV/share and EPRA NAV/share 6 5,5 5 4,5 4 3,5 5,58 5,07 5,12 5,22 5,29 5,18 5,31 5,39 5,30 4,83 4,77 4,82 4,88 4,84 4,64 4,50 4,45 4,38 4,43 4,49 4,56 4,63 4,71 4,59 4,56 4,66 4,68 4,50 4,27 4,12 4,19 4,17 4,10 4,01 4,01 4,06 4,03 3,99 3,88 3,92 3,93 3,90 3,82 3,82 3,60 3,63 3,68 3,56 3,62 3,55 3,58 3,46 3,42 3,45 3,49 Closing price NAV EPRANAV 3 3,09 3,19 3,12 3,09 2,95 2,82 2,5 2,
37 EPRA NAV calculation 5.58 /share ,1 17,4 0, , , Equity attributable to equity holders of parent company Other equity reserve Fair value of financial instruments Goodwill relating to deferred tax liability on properties Deferred tax from investment properties*) Deferred tax from shares in associated companies*) Capitalized borrowing cost Total *) Deferred tax relating to fair valuation of property and interest rate derivatives 37
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 informationSponda 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 informationFirst Quarter Financial Results. 7 May 2009 Kari Inkinen, President and CEO Erik Hjelt, CFO Pia Arrhenius, SVP, IR
First Quarter Financial Results 7 May 2009 Kari Inkinen, President and CEO Erik Hjelt, CFO Pia Arrhenius, SVP, IR Q1 2009 highlights Financial position Market review Operational review Prospects for 2009
More informationInterim report 1 Jan -31 Mar 2007. Kari Inkinen CEO
Interim report 1 Jan -31 Mar 2007 Kari Inkinen CEO 1 2 Market review GDP growth % Finland Euro Area USA Japan 7 6 5 4 3 2 1 0-1 -2-3 1997 1998 1999 2000 2001 2002 2003 2004 2005* 2006* 2007** ** Estimated
More informationStock Exchange Release 8 May 2003, at 9 am
Sponda Plc Stock Exchange Release 8 May 2003, at 9 am Interim Report January-March 2003 SPONDA S FIRST QUARTER RESULT AS EXPECTED Sponda Group recorded a first-quarter net profit of EUR 6.9 (79.5) million.
More information2015 A N N U A L R E V I E W
2015 ANNUAL REVIEW TABLE OF CONTENTS We are Sponda Sponda 5 Chief Executive s review 5 Strategy 6 Vision and strengths 8 Sponda s value chain 9 Sponda in 2016 10 Future trends 11 Working life of the future
More informationTECHNOPOLIS GROUP Q1/2010
TECHNOPOLIS GROUP Q1/2010 Technopolis Group A profitable growth company A real estate-service hybrid Business environments for knowledge-intensive companies Our specialty is the creation, management and
More informationINTERIM REPORT JAN-JUN 2016
Isabella and Grandma, Lifestyle Princesses 99 m 2 2 br + kit + sauna Kalasatama SATO Corporation/Saku Sipola INTERIM REPORT JAN-JUN 2016 28 July 2016 INTERIM REPORT JAN-JUN 2016 1 CONTENT SATO in brief
More informationTECHNOPOLIS GROUP Q2/2011
TECHNOPOLIS GROUP Q2/2011 Technopolis Group A profitable growth company A real estate-service hybrid Business environments for knowledge-intensive companies Our specialty is the creation, management and
More informationEquity per share (NOK) 147 123 131 Equity ratio 39 % 38 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 184 152 165
REPORT FOR Q2 AND THE FIRST 6 MONTHS OF 2015 KEY FIGURES Amounts in NOK million Q2 2015 Q2 2014 30.06.15 30.06.14 2014 Net rental income 501 450 1 005 904 1 883 Fair value adjustments in investment properties
More informationCondensed consolidated income statement
RESTATED AND PREVIOUSLY COMMUNICATED (OLD) QUARTERLY INFORMATION FOR Fortum signed the agreement to sell its Swedish distribution business on 13 March 2015, which concludes Fortum s divestment of its electricity
More informationvaluation of Finland - 2012
TECHNOPOLIS GROUP Q1/2012 Technopolis Group Value-added real estate & services Focus on smart business centers Scalable for international growth Geographic focus on Nordic-Baltic 1,400 customers employing
More information2008 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 informationPRESS RELEASE 2015-12-15
PRESS RELEASE 2015-12-15 Balder acquires an additional 22.9 per cent of SATO mandates Carnegie and SEB to evaluate the possibility to implement a directed issue in order to partially finance the acquisition
More informationEquity per share (NOK) 135 123 131 Equity ratio 37 % 39 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 170 153 165
REPORT Q1/2015 KEY FIGURES Amounts in NOK million Q1 2015 Q1 2014 31.12.14 Net rental income 503 454 1 883 Fair value adjustments in investment properties and interest rate derivatives 1 294-9 281 Profit
More informationA 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 informationTLG 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 information2014 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 informationGood growth and profitability
Good growth and profitability Year-end 2015 report Stockholm, 18 February 2016 Anders Nissen, CEO Liia Nõu, CFO Agenda Introduction Financial review Market and business Q&A Anders Nissen Liia Nõu Anders
More informationKungsleden AB (publ) Chief Executive Thomas Erséus Deputy Chief Executive Johan Risberg. 20 February 2009
Kungsleden AB (publ) Chief Executive Thomas Erséus Deputy Chief Executive Johan Risberg 20 February 2009 Kungsleden in brief Kungsleden owns and manages properties generating high and stable long-term
More informationTECHNOPOLIS PLC INTERIM REPORT May 7, 2015 at 8:00 a.m.
TECHNOPOLIS PLC INTERIM REPORT May 7, 2015 at 8:00 a.m. Technopolis Group Interim Report January 1 - March 31, 2015 Strong EBITDA Growth Driven by Cost Control and Scale Advantages - Net sales rose to
More informationPress 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 informationPress 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 informationYEAR-END REPORT 2013. 2013 fiscal year. Fourth quarter 2013. Forecast for 2014
Year-end report AB Sagax is a property company whose business concept is to invest in commercial properties, primarily in the warehouse and light industry segment. YEAR-END REPORT fiscal year Rental revenue
More informationDeutsche 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 informationInterim report 1 Jan -30 June 2007. Kari Inkinen CEO
Interim report 1 Jan -30 June 2007 Kari Inkinen CEO 1 2 Market review GDP growth % Finland Euro Area United States Japan 7 6 5 4 3 2 1 0-1 -2-3 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006* 2007**
More information1st 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 informationInterim Report For the period January September 2009
Interim Report For the period January September 2009 October 26, 2009 The report period in brief Consolidated net operating profit increased by 89 per cent to 30.9 million euros (January September 2008:
More informationFinancing and capital structure
Financing and capital structure Hannu Linnoinen Executive Vice President, CFO 1 3 Dec. 2013 Capital Markets Day Project type s effect on return, risk and financing Project margin % ~ 20% ~ 15% ~ 10% Construction
More informationAnalyst 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 informationGazit-Globe Reports Year-End and Fourth Quarter 2015 Financial Results
Gazit-Globe Ltd. For additional information: 1 HaShalom Rd. Adi Jemini Tel Aviv, Israel 67892 CFO, Gazit-Globe +972 3 694 8000 FOR IMMEDIATE RELEASE: Gazit-Globe Reports Year-End and Fourth Quarter 2015
More informationCGI 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 informationTechnopolis Plc. Q3 Review
Technopolis Plc Q3 Review Technopolis Group OULU KUOPIO JYVÄSKYLÄ LAPPEENRANTA TAMPERE PIETARI CAPITAL CITY AREA Specializing in business environments for high-tech companies The only STP chain in Europe
More informationInterim Report, H1 2015/16. Illustration: BROEN, shopping centre Esbjerg, Denmark
Interim Report, H1 2015/16 Illustration: BROEN, shopping centre Esbjerg, Denmark Contents 1. The Group s results Financial highlights and key ratios H1 2015/16 at a glance 2. Market conditions 3. Project
More informationConsolidated balance sheet
83 Consolidated balance sheet December 31 Non-current assets Goodwill 14 675.1 978.4 Other intangible assets 14 317.4 303.8 Property, plant, and equipment 15 530.7 492.0 Investment in associates 16 2.5
More informationHelsinki Metropolitan Area (HMA) Office MarketView
Helsinki Metropolitan Area (HMA) Office MarketView Q3 2014 CBRE Global Research and Consulting GDP -0.6% (Y-o-Y) CPI 1,3% (Y-o-Y) UNEMPLOYMENT RATE 8,2% (Sep) HELSINKI OFFICE MARKET - SALES VOLUME IS IMPROVING
More informationINTERIM REPORT JANUARY 1 SEPTEMBER 30, 2011
Q3 INTERIM REPORT JANUARY 1 SEPTEMBER 30, 2011 Helsinki, October 27, 2011 Fiskars Corporation Interim Report January 1 - September 30, 2011 October 27, 2011 Third quarter: Net sales and operating profit
More informationExtraordinary 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 informationIn addition, Outokumpu has adopted the following amended standards as of January 1, 2009:
1. Corporate information Outokumpu Oyj is a Finnish public limited liability company organised under the laws of Finland and domiciled in Espoo. The parent company, Outokumpu Oyj, has been listed on the
More informationSOLTEQ PLC S INTERIM REPORT 1.1.-30.6.2013
Stock Exchange Bulletin 1 (13) SOLTEQ PLC S INTERIM REPORT 1.1.-30.6.2013 Solteq Plc Stock Exchange Bulletin - Solteq Plc s turnover increased 2.2 per cent and totalled 19.7 million euros (19.3 million
More informationIncome statement, 5-year summary Q1, 2013
00B 0B, 5-year summary Financial information, Group, Group FY FY FY FY FY SEKm 2012 2) 2011 2010 1) 2009 2008 Net interest income 1) 20 361 19 014 16 228 20 765 21 702 Net commission income 1) 9 614 9
More informationPONSSE PLC, STOCK EXCHANGE RELEASE, 26 OCTOBER 2010, 9:00 a.m. PONSSE S INTERIM REPORT FOR 1 JANUARY 30 SEPTEMBER 2010
PONSSE PLC, STOCK EXCHANGE RELEASE, 26 OCTOBER 2010, 9:00 a.m. PONSSE S INTERIM REPORT FOR 1 JANUARY 30 SEPTEMBER 2010 - Net sales were EUR 171.8 (Q1-Q3/2009 EUR 98.9) million. - Q3 net sales were EUR
More informationTrading update Q1 2016
Trading update Q1 2016 NSI N.V. Highlights Strategie NSI further increased its portfolio focus on the Dutch office market in the 1st quarter of 2016: Sale of almost entire industrial buildings portfolio
More informationFinancial statements. Income statement of Oma Säästöpankki Ltd 1.1. - 31.12.2011 1.1. - 31.12.2010. Interest income (1.1) 9 770 764,72 7 731 142,63
1 Financial statements Income statement of Oma Säästöpankki Ltd 1.1. - 31.12.2011 1.1. - 31.12.2010 eur eur Interest income (1.1) 9 770 764,72 7 731 142,63 Interest expenses (1.1) -4 202 398,43-3 177 373,78
More informationWelcome to Kungsleden
Welcome to Kungsleden Chief Executive Thomas Erséus Deputy Chief Executive Johan Risberg 21 October 2010 Kungsleden in brief Owns and manages properties generating high and stable long-term returns Returns
More informationFinancial Statements and Board of Directors Report for 2013
Financial Statements and Board of Directors Report for 2013 get the world Contents Key indicators...4 Definitions of key indicators...5 Net sales by business...6 Operating profit excluding non-recurring
More informationANNEX I INDIVIDUAL PUBLIC FINANCIAL STATEMENTS OF CREDIT INSTITUTIONS
ANNEX I INDIVIDUAL PUBLIC FINANCIAL STATEMENTS OF CREDIT INSTITUTIONS ANNEX I.1 PUBLIC BALANCE SHEET ASSETS 1. Cash and balances with central banks 2. Financial assets held for trading 2.1. Loans and advances
More informationTECHNOPOLIS PLC INTERIM REPORT October 29, 2015. Technopolis Group Interim Report January 1 September 30, 2015. Q3 Occupancy and Fair Values Improving
TECHNOPOLIS PLC INTERIM REPORT October 29, 2015 Technopolis Group Interim Report January 1 September 30, 2015 Q3 Occupancy and Fair Values Improving - Net sales rose to EUR 128.9 (120.3) million, up 7.1%
More informationInterim Report January 1 September 30, 2014: Active investor sales boosted cash flow and revenue
Interim Report January 1 September 30, 2014: Active investor sales boosted cash flow and revenue Unless otherwise noted, the figures in brackets refer to the corresponding period in the previous year.
More informationSTOCKMANN Interim Report Q2 2015. 12 August 2015
STOCKMANN Interim Report Q2 2015 12 August 2015 New operating structure as of 1 January 2015: Stockmann Retail, Real Estate, Fashion Chains STOCKMANN GROUP GROUP S SHARED FUNCTIONS STOCKMANN RETAIL REAL
More informationReport of the Executive Board. In millions of EUR 2014 2013
Review Results from operating activities Revenue 19,257 19,203 income 93 226 Raw materials, consumables and services (12,053) (12,186) Personnel expenses (3,080) (3,108) Amortisation, depreciation and
More informationRAKENTAJAIN KONEVUOKRAAMO OYJ STOCK EXCHANGE RELEASE 10 MAY 2005, at 10.30 hrs RAKENTAJAIN KONEVUOKRAAMO OYJ S INTERIM REPORT Q1/2005
RAKENTAJAIN KONEVUOKRAAMO OYJ STOCK EXCHANGE RELEASE 10 MAY 2005, at 10.30 hrs RAKENTAJAIN KONEVUOKRAAMO OYJ S INTERIM REPORT Q1/2005 - Turnover, EUR 17.0 million (EUR 15.4 million) - A 10.3 per cent increase
More informationDeutsche 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 informationCONSOLIDATED STATEMENT OF INCOME
CONSOLIDATED STATEMENT OF INCOME 4 th quarter (a) 3 rd quarter 4 th quarter 2009 Sales 40,157 40,180 36,228 Excise taxes (4,397) (4,952) (4,933) Revenues from sales 35,760 35,228 31,295 Purchases, net
More informationCONSOLIDATED PROFIT AND LOSS ACCOUNT For the six months ended June 30, 2002
CONSOLIDATED PROFIT AND LOSS ACCOUNT For the six months ended June 30, 2002 Unaudited Unaudited Note Turnover 2 5,576 5,803 Other net losses (1) (39) 5,575 5,764 Direct costs and operating expenses (1,910)
More informationSCANFIL GROUP S INTERIM REPORT 1 JANUARY 30 SEPTEMBER 2009
SCANFIL PLC INTERIM REPORT 23 OCTOBER 2009 8.30 a.m. SCANFIL GROUP S INTERIM REPORT 1 JANUARY 30 SEPTEMBER 2009 January - September - Turnover for the first nine months of 2009 totalled EUR 149.2 million
More informationYear-end Report JANUARY - DECEMBER 2006, JM GROUP
Year-end Report JANUARY - DECEMBER 2006, JM GROUP 2006 Continued high profitability Income increased by 22 percent to SEK 12,065m (9,887) and number of residential units sold totaled 3,790 (4,240) Earnings
More informationCPI PROPERTY GROUP holds its course set steady growth, successful acquisitions and decreasing cost of capital
CPI PROPERTY GROUP holds its course set steady growth, successful acquisitions and decreasing cost of capital Corporate news Acquisition of 16.7% of own shares On 25 September 2015 the CPI PROPERTY GROUP
More informationCarnegie Investment Bank AB (publ) Year-end report
Carnegie Investment Bank AB (publ) (Corp. reg. no. 516406-0138) Year-end report 1 January 31 December 2009 Carnegie Investment Bank AB (publ) is a leading independent investment bank with Nordic focus.
More informationTechnopolis Group. 2008 Review
Technopolis Group 2008 Review Technopolis Group OULU KUOPIO JYVÄSKYLÄ LAPPEENRANTA TAMPERE PIETARI Capital Area Specializing in business environments for high-tech companies The biggest STP chain in Europe
More informationCONSOLIDATED INTERIM FINANCIAL STATEMENTS
CONSOLIDATED INTERIM FINANCIAL STATEMENTS AND GROUP INTERIM MANAGEMENT REPORT SECOND QUARTER OF 2008 JUNE 30, 2008 FRANCONOFURT AG FRANKFURT AM MAIN FRANCONOFURT AG, FRANKFURT AM MAIN CONSOLIDATED INTERIM
More informationHIGHLIGHTS FIRST QUARTER 2016
Q1-16 EUROPRIS ASA 2 CONTENTS / HIGHLIGHTS FIRST QUARTER 2016 HIGHLIGHTS FIRST QUARTER 2016 (Figures for the corresponding period of last year in brackets. The figures are unaudited.) Group revenues increased
More informationEUROCASTLE 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 information2010 Half-Year Results
1 2010 Half-Year Results 1 1 Summary 2 1 Introduction A promising first half Sharp rise in residential take-up Tenant sales improving Two shopping centres delivered 95% let Acquisition of Cap 3000 Change
More informationTeleste Corporation Interim Report 1.1. 30.9.2002
Teleste Corporation Interim Report 1.1. 30.9.2002 Teleste Corporation Interim Report 1.1. 30.9.2002 The decline in network operators investments in Teleste s core business has not eased off Market outlook
More informationQ1 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 informationNet interest-bearing debt at 30 June 2015 was DKK 560 million (30 June 2014: DKK 595 million).
H+H International A/S Interim financial report Company Announcement No. 327, 2015 H+H International A/S Dampfærgevej 3, 3rd Floor 2100 Copenhagen Ø Denmark Tel. +45 35 27 02 00 info@hplush.com www.hplush.com
More informationQ1-Q4. Full Year Results Q1-Q4. Audiocast presentation. CEO, Marcel Kokkeel CFO, Exec. VP Eero Sihvonen
Full Year Results Audiocast presentation CEO, Marcel Kokkeel CFO, Exec. VP Eero Sihvonen : ANOTHER YEAR OF ACTION CITYCON BECOMES A TRULY PAN NORDIC PLAYER AND THE LARGEST LISTED SHOPPING CENTRE SPECIALIST
More informationVattenfall 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 informationInvesteringsselskabet. Nasdaq OMX Copenhagen A/S Announcement No 7 Nikolaj Plads 6 page 1 of 19 PO Box 1040 date 27 August 2015
Investeringsselskabet LUXOR Frederiksborggade 50, 1360 København K Telefon 33 32 50 15 Telefax 33 12 41 70 CVR-nr. 49 63 99 10 Nasdaq OMX Copenhagen A/S Announcement No 7 Nikolaj Plads 6 page 1 of 19 PO
More information1987-88 - 89-90 - 91-92 - 93-94 - 95-96 - 97-98 - 99-00 - 01-02 - 03-04 - 05-06 - 07
1987-88 - 89-90 - 91-92 - 93-94 - 95-96 - 97-98 - 99-00 - 01-02 - 03-04 - 05-06 - 07 ANNUAL REPORT 2007 Julius Tallberg Real Estate Corporation (Julius Tallberg-Kiinteistöt Oyj) Annual Report 2007 2007
More informationconwert Immobilien Buy (unchanged) Target: Euro 14.00 (unchanged)
conwert Immobilien Buy (unchanged) Target: Euro 14.00 (unchanged) 26 Aug 15 Price (Euro) 11.31 52 weeks range 12.45 / 8.54 Key Data ISIN AT0000697750 Reuters CONW.VI Bloomberg CWI AV Reporting standard
More informationPRESS 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 informationCon sis ten cy. Positioned perfectly.
Con sis ten cy Positioned perfectly. 1 Deutsche Wohnen AG group KEY FIGURES 2 Consolidated INTERIM MANAGEMENT REPORT 3 Consolidated INTERIM FINANCIAL STATEMENTS 19 Responsibility statement 32 FINANCIAL
More informationFirst 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 informationCurrent Market Environment. Swiss Finance & Property Investment AG. Portfolio. Finances. Summary 2015. 2016 Outlook. Slide 2
Current Market Environment Swiss Finance & Property Investment AG Portfolio Finances Summary 2015 2016 Outlook Slide 2 Economic situation Private consumption is becoming the driving force of economic growth
More informationSolid Financial Position Improving Efficiency
Solid Financial Position Improving Efficiency Kim Ignatius CFO, Sanoma Group Sanoma Capital Markets Day 12 October 2009 Solid financial performance improving efficiency Cost reductions Reshaping operations
More informationITELLA CORPORATION STOCK EXCHANGE RELEASE JULY 25, 2012, AT 12:00 NOON (EET)
ITELLA CORPORATION STOCK EXCHANGE RELEASE JULY 25, 2012, AT 12:00 NOON (EET) Itella Corporation Interim Report Q2/2012 January June 2012 Itella Group s net sales in January June amounted to EUR 958.5 (932.6)
More informationAcal plc. Accounting policies March 2006
Acal plc Accounting policies March 2006 Basis of preparation The consolidated financial statements of Acal plc and all its subsidiaries have been prepared in accordance with International Financial Reporting
More informationHow 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 informationJT Family Holding Oy
[This is unofficial translation from Finnish original] JT Family Holding Oy ANNUAL REPORT 31.12.2012 ANNUAL REPORT 31.12.2012 page Board of Director s Review 3 Consolidated income statement 7 Consolidated
More informationNote 2 SIGNIFICANT ACCOUNTING
Note 2 SIGNIFICANT ACCOUNTING POLICIES BASIS FOR THE PREPARATION OF THE FINANCIAL STATEMENTS The consolidated financial statements have been prepared in accordance with International Financial Reporting
More informationMetsä Board Financial Statements 1 January 31 December 2014 5 February 2015 at 12:00 noon Page 1/30 METSÄ BOARD CORPORATION FINANCIAL STATEMENTS
Page 1/30 METSÄ BOARD CORPORATION FINANCIAL STATEMENTS 2014 Page 2/30 METSÄ BOARD CORPORATION S OPERATING RESULT EXCLUDING NON-RECURRING ITEMS WAS EUR 136.5 MILLION IN 2014 FULL YEAR RESULT FOR 2014 Sales
More informationInvesco 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 informationGranbero Holdings Ltd Half year results 30.06.2015
Granbero Holdings Ltd Half year results 30.06.2015 Sound results and strong equity base from continued development, construction and commercialisation efforts in core Polish market segments - Net profit
More informationInterim 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 informationINTERIM FINANCIAL STATEMENT AS PER 30 SEPTEMBER 2015
INTERIM FINANCIAL STATEMENT AS PER 30 SEPTEMBER 2015 15 3 Consolidated balance sheet 5 Consolidated income statement 6 Statement of changes in equity 7 Condensed notes INTERIM FINANCIAL STATEMENT AS PER
More informationLudwigshafen, February 25, 2014
Ludwigshafen, February 25, 2014 Analyst Conference FY2013 Cautionary note regarding forward-looking statements This presentation may contain forward-looking statements that are subject to risks and uncertainties,
More informationOslo, 23 February 2010 4th quarter and preliminary annual results 2009
Oslo, 23 February 2010 4th quarter and preliminary annual results 2009 1 4Q 2009 presentation Agenda Highlights and key figures Financial update Markets & operations: Svein Hov Skjelle Office portfolio
More informationTECHNOPOLIS PLC STOCK EXCHANGE RELEASE July 20, 2007 at 11.45 a.m.
TECHNOPOLIS PLC STOCK EXCHANGE RELEASE July 20, 2007 at 11.45 a.m. TECHNOPOLIS GROUP INTERIM REPORT, January 1 - June 30, 2007 Highlights of 1-6/2007 compared with corresponding period of 2006: - Group's
More informationINTERIM REPORT for the period January 1 March 31, 2007
Interim report for ICA AB January 1 - March 31, 2007 INTERIM REPORT for the period January 1 March 31, 2007 Stockholm, May 15, 2007 Strong sales growth but lower operating income during first quarter Net
More informationKARDAN N.V. AMSTERDAM, THE NETHERLANDS. IFRS Financial Statements. For the year ended December 31, 2008
KARDAN N.V. AMSTERDAM, THE NETHERLANDS IFRS Financial Statements For the year ended December 31, 2008 CONTENTS Consolidated IFRS Financial Statements Consolidated balance sheet... 1 Consolidated income
More informationCPI PROPERTY GROUP continues in successful business operations, expansion plans and refinancing of existing projects
CPI PROPERTY GROUP continues in successful business operations, expansion plans and refinancing of existing projects Corporate highlights Annual General Meeting of 28 May 2015 The Annual General Meeting
More informationTen reasons to be invested in European Listed Real Estate
Ten reasons to be invested in European Listed Real Estate Executive Summary At Petercam Institutional Asset, we are convinced that investing part of one s assets in European listed real estate makes sense.
More informationSCANFIL PLC STOCK EXCHANGE RELEASE 27 APRIL 2007 8.30 a.m.
SCANFIL PLC STOCK EXCHANGE RELEASE 27 APRIL 2007 8.30 a.m. SCANFIL PLC'C INTERIM REPORT 1 JANUARY 31 MARCH 2007 - Turnover for the first quarter of 2007 totalled EUR 52,2 million (60,1 in the corresponding
More informationSparkassen Immobilien AG Report on the first half of 2004
Sparkassen Immobilien AG Report on the first half of 2004 Dear Ladies and Gentlemen, Shareholders and Investors, Will we have to work longer in the future? Are our pensions secure, and how long will they
More informationCONFERENCE 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 informationTHREE MONTH REPORT, JANUARY 1 MARCH 31, 2014
THREE MONTH REPORT, JANUARY 1 MARCH 31, 2014-1 - First Quarter, January March 2014 Net sales amounted to 0 Euro (0) Operating profit/loss amounted to -42 007 Euro (-12 094) Net profit/loss for the period
More informationMetsä Board Debt investor presentation Q2/2015. 6 August 2015
Metsä Board Debt investor presentation Q2/2015 Strong financing situation continues EUR million 1000 750 Net debt Gross debt EUR 671 million and net debt EUR 389 million at the end of Q2/2015 (EUR 319
More information