May 6, 2020 / 5:03 PM / a month ago

BRIEF-Intervest Q1 Consolidated Operating Result Up At EUR 16.4 Mln

May 6 (Reuters) - INTERVEST OFFICES & WAREHOUSES NV :

* END-MARCH CONSOLIDATED RENTAL INCOME EUR 14.7 MILLION VERSUS EUR 15.1 MILLION YEAR AGO

* END-MARCH EPRA EARNINGS EUR 8.9 MILLION VERSUS EUR 9.2 MILLION YEAR AGO

* END-MARCH CONSOLIDATED NET RESULT EUR 13.3 MILLION VERSUS EUR 8.6 MILLION YEAR AGO

* END-MARCH CONSOLIDATED OPERATING RESULT EUR 16.4 MILLION VERSUS EUR 13.0 MILLION YEAR AGO

* AS OF MAY 6, BOARD OF DIRECTORS DECIDES TO OFFER SHAREHOLDERS DIVIDEND IN CASH OR SHARES

* AS OF MARCH 31, LIMITED DEBT RATIO OF 40% AS GIVES COMPANY SUFFICIENT ROOM TO INVEST WITH BORROWED CAPITAL BEFORE REACHING TOP OF STRATEGIC RANGE OF 45%-50%

* AS OF MARCH 31, TOTAL PORTFOLIO OCCUPANCY RATE OF 91% VERSUS 93% AS OF END-DEC

* AS OF MARCH 31, FAIR VALUE OF INVESTMENT PROPERTIES EUR 932.2 MILLION VERSUS EUR 892.8 MILLION AS OF END-DECEMBER

* INTENDED GROSS DIVIDEND PER SHARE FOR 2020 EUR 1.53 AT SAME LEVEL AS FOR 2019

* AS OF MARCH 31, INTERVEST HAS APPROXIMATELY EUR 119 MILLION OF NON-WITHDRAWN CREDIT LINES

* EXPECTED EPRA EARNINGS PER SHARE FOR 2020 BETWEEN EUR 1.60 AND EUR 1.65 BASED ON CURRENT FORECASTS

* IN 2020, WILL FOCUS ON DEVELOPING GENK GREENLOGISTICS PROJECT, TO BE COMPLETED DURING 2020

* HAS SUFFICIENT FINANCING CAPACITY TO ABSORB POSSIBLE FUTURE LIQUIDITY TENSIONS SHOULD DELAY IN RENTAL INCOME PAYMENTS ARISE

* IN 2020, NO MORE FINANCING AT MATURITY AND COMMERCIAL PAPER PROGRAMME IS FULLY HEDGED WITH ADDITIONAL BACK-UP LINES Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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