May 20, 2020 / 5:52 AM / 6 days ago

BRIEF-Aedifica Rental Income Up At 117 Million Euros At March 31

May 20 (Reuters) - Aedifica SA:

* RENTAL INCOME INCREASES TO €117 MILLION AS OF 31 MARCH 2020

* REAL ESTATE PORTFOLIO OF €3.3 BILLION AS OF 31 MARCH 2020

* PIPELINE OF €546 MILLION IN ACQUISITIONS, CONSTRUCTION AND RENOVATION PROJECTS

* DEBT-TO-ASSETS RATIO DOWN FROM 55.6% AS OF 31 MARCH 2020 TO 50% AFTER CAPITAL INCREASE

* WEIGHTED AVERAGE UNEXPIRED LEASE TERM OF 20 YEARS AND OCCUPANCY RATE OF 100%

* RESIDENTIAL CARE PROPERTIES REMAIN ALL OPERATIONAL

* ON CORONAVIRUS: SECOND HALF OF 2020 (AND POSSIBLY ALSO A PART OF 2021) WILL BE A CHALLENGING PERIOD FOR OPERATORS

* NO SIGNIFICANT CHANGES ARE EXPECTED IN GUIDANCE FOR EPRA RESULT FOR THE 12-MONTH PERIOD FROM 1 JULY 2019 TO 30 JUNE 2020

* NO INDICATIONS SO FAR THAT THE ‘EXCESS MORTALITY’ WOULD HAVE REACHED LEVELS TO ENDANGER RENT PAYMENT CAPACITY OF OPERATORS IN GENERAL

* RENT PAYMENTS REMAIN STABLE

* AS AT 31 MARCH 2020, GROUP HAS A TOTAL INVESTMENT BUDGET IN DEVELOPMENT PROJECTS OF APPROX. €546 MILLION

* ALTHOUGH INVESTMENT RHYTHM HAS SLOWED DOWN SLIGHTLY, NEW INVESTMENTS MAY FOLLOW IN COMING WEEKS

* PROPOSED GROSS DIVIDEND AMOUNTS TO €3.00 PER SHARE (AN INCREASE OF 7% COMPARED TO THE 2018/2019 DIVIDEND)

* INTENDS TO DISTRIBUTE AN INTERIM DIVIDEND TO SHAREHOLDERS OVER PERIOD FROM 1 JULY 2019 TO 30 JUNE 2020, WITH PAYMENT IN NOVEMBER 2020

* BOARD OF DIRECTORS HAS PROPOSED TO EXTEND THE CURRENT FINANCIAL YEAR (THAT STARTED ON 1 JULY 2019) UNTIL 31 DECEMBER 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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