PR Newswire
HELSINKI, Feb 09, 2017
HELSINKI, Feb 09, 2017 /PRNewswire/ --
Citycon Oyj - Financial Statements Release - 9 February 2017 at 09:00 hrs
OCTOBER-DECEMBER 2016
-Gross rental income was EUR 64.1 million (Q4/2015: 65.3) and decreased slightly due to the non-core property divestments in Finland and Sweden during 2015 and 2016.
- Net rental income was EUR 55.9 million (57.5). The Norwegian business unit increased net rental income by EUR 0.5 million and the opening of the first part of the Iso Omena extension by EUR 0.6 million, while the divestments decreased net rental income by EUR 1.8 million.
-EPRA Earnings increased by EUR 3.5 million, or 10.2%, to EUR 37.9 million, especially due to lower administrative and financial expenses. EPRA Earnings per share (basic) was EUR 0.043 (EUR 0.039).
-Earnings per share increased to EUR 0.04 (0.03) mainly due to higher gains on sale and other operating income and expenses as well as due to lower administrative expenses.
JANUARY-DECEMBER 2016
- Gross rental income increased to EUR 251.4 million (Q1—Q4/2015: 223.9) mainly due to the acquisition of the Norwegian business unit. Gross rental income of Citycon's Norwegian operations amounted to EUR 85.3 million (43.0). The acquisition also increased net rental income by EUR 37.2 million, which amounted to EUR 224.9 million (199.6).
- EPRA Earnings increased by EUR 20.3 million, or 15.5%, to EUR 151.1 million, especially due to the Norwegian acquisition. EPRA Earnings per share (basic) decreased slightly to EUR 0.170 (0.173) due to the higher number of shares.
- Earnings per share (basic) increased to EUR 0.18 (0.14). The increase was mainly a result of higher fair value gains and gains on sale as well as lower administrative expenses.
- Net cash from operating activities per share stayed at the same level at EUR 0.15 (0.15).
-The Board of Directors proposes that the Board be authorized to decide in its discretion on the distribution of dividend for the financial year 2016, and assets from the invested unrestricted equity fund. Based on this authorization the maximum amount of dividend to be distributed shall not exceed EUR 0.01 per share and the maximum amount of equity repayment distributed from the invested unrestricted equity fund shall not exceed EUR 0.12 per share. The dividend/equity repayment would be paid to shareholders in four instalments.
Key figures
| |
Q4/2016 |
Q4/2015 |
%1) |
2016 |
2015 |
%1) |
Net rental income |
MEUR |
55.9 |
57.5 |
-2.8 |
224.9 |
199.6 |
12.7 |
| | | | | | | |
Direct Operating profit2) | MEUR | 49.9 | 48.2 | 3.6 | 198.5 | 175.4 | 13.2 |
| | | | | | | |
Earnings per share (basic) |
EUR |
0.04 |
0.03 |
17.8 |
0.18 |
0.14 | 25.2 |
Fair value of investment properties |
MEUR |
4,337.6 |
4,091.6 |
6.0 |
4,337.6 |
4,091.6 | 6.0 |
Loan to Value (LTV)2) |
% |
46.6 |
45.7 |
1.9 |
46.6 |
45.7 |
1.9 |
EPRA based key figures2) | |||||||
EPRA Earnings |
MEUR |
37.9 |
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