April 28, 2020 / 5:32 PM / a month ago

BRIEF-Cofinimmo Q1 Net Result From Core Activities - Group Share Up At EUR 41 Million

April 28 (Reuters) - Cofinimmo SA:

* INTERIM REPORT Q1 2020

* Q1 NET RESULT FROM CORE ACTIVITIES - GROUP SHARE: 41 MILLION EUR (30 MILLION EUR AS AT 31.03.2019), I.E. +34%

* Q1 2020 GROSS RENTAL REVENUES UP 10.7% (OR 1.6% ON A LIKE-FOR-LIKE BASIS)

* END-Q1 HIGH OCCUPANCY RATE: 97.0% (97.0% AS AT 31.12.2019)

* ALL CREDIT LINES MATURING IN 2020 HAVE ALREADY BEEN REFINANCED, COMPANY NO LONGER HAS ANY SIGNIFICANT MATURITIES PRIOR TO SEPT 2021

* CONCLUSION OF NEW LONG-TERM CREDITS TOTALLING 239 MILLION EUR SINCE BEGINNING OF 2020

* AVAILABILITIES ON COMMITTED CREDIT LINES OF MORE THAN 420 MILLION EUR AS AT 31.03.2020 (AFTER DEDUCTION OF BACKUP OF COMMERCIAL PAPER PROGRAMME)

* EXTENSION OF LONG-TERM COMMERCIAL PAPER PROGRAMME TO 950 MILLION EUR (800 MILLION EUR BEFORE)

* DELIVERY OF EXTENSION OF AN ORTHOPAEDIC CLINIC IN NETHERLANDS (11 MILLION EUR) AND A PSYCHIATRIC CLINIC IN GERMANY (22 MILLION EUR)

* DESPITE OUTBREAK OF CORONAVIRUS, 2020 FINANCIAL YEAR STARTED WITH GOOD RESULTS, IN LINE WITH BUDGET-CEO

* WITH A DEBT RATIO OF LESS THAN 41%, CONSOLIDATED BALANCE SHEET OF COFINIMMO SHOWS A STRONG SOLVENCY-CEO

* BUDGETED GROSS DIVIDEND FOR FINANCIAL YEAR 2020, PAYABLE IN 2021, CAN BE CONFIRMED AT EUR 5.80 PER SHARE

* END-MARCH OPERATING RESULT BEFORE RESULT ON THE PORTFOLIO EUR 48.1 MILLION VERSUS EUR 38.7 MILLION YEAR AGO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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