Results 2013

After the completion of the first strategic or “Derisk” phase by mid-2013, Wereldhave is well on track with the Regroup phase of its strategy. For the year 2013, Wereldhave posted a net profit of € 50.0m (2012: € -87.1m). The disposal of properties caused a decrease of the direct result to € 81.3m (2012: € 93.8m), but general costs decreased significantly and overall like-for-like rental growth from continued operations was 2.7% positive. The indirect result was € -31.3m, but € -20.9m of this amount did not impact NAV. EPRA NAV slightly decreased to € 64.99 per share at year-end 2013 (2012: € 66.33) and the LTV as per December 31, 2013 decreased to 27.4% (2012: 43.6%).

Wereldhave’s operational performance was above target. Like-for-like rental growth of the core retail portfolio for the year 2013 is 160 bps above indexation, 35 bps above target. At 98.4%, occupancy of the core retail portfolio was 40 bps above the targeted 98% and general costs dropped to € 14.5m (target 2013: < € 16m).

At the Annual General Meeting of Shareholders, to be held on April 25, 2014, a cash dividend will be proposed of € 3.30 per share.

For full press release, download the pdf below.

Press Release: FY 2013