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Published: 17:40 07.11.2006 GMT+1 /HUGIN /Source: Wereldhave Belgium /BXS: WEHB /ISIN: BE0003724383
Wereldhave Belgium: Results to September 30, 2006
| Key figures | (amounts x EUR 1,000) | to September 2006 | to September 2005 | |||
| | | | | | | |
| | Direct result | 15,280 | | 15,175 | | |
| | Indirect result | 4,930 | | 6,381 | | |
| | Profit | 20,210 | | 21,556 | | |
| | | | | | | |
| | Direct result per share | 2.87 | EUR | 2.85 | EUR | |
| | | | | | | |
| | Profit per share | 3.79 | EUR | 4.05 | EUR | |
| | | | | | | |
| | | | | | | |
| | Equity | 30-09-2006 | 31-12-2005 | |||
| | | | | | | |
| | Investment properties | 327,845 | | 319,894 | | |
| | Shareholders' Equity | 334,901 | 1) | 333,824 | 2) | |
| | | | | | | |
| | Net asset value per share | 62.81 | EUR1) | 62.61 | EUR 2) | |
| | | | | | | |
| | Debt ratio on total of assets | 3.54 | % | 0.79 | % | |
| | | | | | | |
| | Number of shares | 5,331,947 | | 5,331,947 | | |
| | | | | | | |
| | | | | | | |
| | | | ||||
| | | | ||||
| | 1) including current earnings 2) before profit distribution | | ||||
Profit
Compared to 2005, the profit, consisting of the direct and indirect result, decreased from EUR 21.6 mln to EUR 20.2 mln. This is the result of a higher net rental income (EUR 0.8 mln), higher service costs (EUR 0.7 mln) and a lower revaluation of the property investment portfolio (EUR 1.5 mln). The profit per share decreased from EUR 4.05 to EUR 3.79.
Direct result
During the first nine months, the direct result of Comm. VA Wereldhave Belgium SCA amounts to EUR 15.3 mln (2005: EUR 15.2 mln). This is the result of EUR 0.8 mln higher net rental income and EUR 0.7 mln higher service costs (release of provisions in 2005 amounting to EUR 0.7 mln). The direct result per share amounts to EUR 2.87 (2005: EUR 2.85).
The occupancy rate, expressed in a percentage of market rent, amounts to 84% (30/09/2005: 82%). The vacancy concerns only the office portfolio.
Shareholders' equity and net asset value
Shareholders' equity at September 30, 2006 amounts to EUR 334.9 mln (December 31, 2005: EUR 333.8 mln). The net asset value per share at September 30, 2006, including the profit of the current year, amounts to EUR 62.81 (December 31, 2005: EUR 62.61).
Property portfolio
At September 30, 2006 the fair value of the property portfolio amounted to EUR 327.8 mln (December 31, 2005: EUR 319.9 mln). ). In order to comply with the IAS 40 regulation, fair value has been computed after deduction of the transaction costs (10% - 12.5 %) incurred at the sales process.
In October 2006, Wereldhave Belgium purchased 2 plots of land (total 42,000m²) alongside the shopping centre in Nivelles.
Prospects
For 2006, Wereldhave Belgium expects a direct result of about EUR 3.75.
Vilvoorde, November 7, 2006
N.V. Wereldhave Belgium S.A.
Statutory Management Company
For further information:
Wereldhave Belgium
Eddy De Landtsheer
Tel. + 32 2 732 19 00
Eddy De Landtsheer
Tel. + 32 2 732 19 00
http://www.wereldhavebelgium.com/" class="hugin">www.wereldhavebelgium.com
For the full pdf version, please click on the link below:
Wereldhave">http://hugin.info/135513/R/1086788/190113.pdf">Wereldhave Belgium: Results to September 30, 2006
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