May 14, 2020 / 6:14 AM / 13 days ago

BRIEF-Montea Comm Q1 EPRA Earnings Up At 12.5 Million Euros

May 14 (Reuters) - MONTEA COMM VA:

* INTERIM REPORT 31-03-2020

* Q1 EPRA EARNINGS OF €12.5 MILLION FOR Q1 2020 (+16% COMPARED WITH Q1 2019)

* MONTEA REAFFIRMS ITS ASPIRATION TO BOOST ITS PROPERTY PORTFOLIO BY CA. EUR 300 MILLION IN 2020 AND 2021

* Q1 EPRA EARNINGS PER SHARE OF €0.79 (STABLE COMPARED WITH 2019, DUE TO A 16% INCREASE IN THE WEIGHTED AVERAGE NUMBER OF SHARES)

* COVID-19 OUTBREAK IN EARLY 2020 AND ( RESULTS OF) MEASURES TAKEN TO CONTAIN VIRUS COULD HAVE AN IMPACT ON MONTEA’S FINANCIAL PERFORMANCE IN 2020

* EXPECTS FOR 2020 GROWTH IN EPRA EARNINGS PER SHARE TO EUR 3.44 (+5% COMPARED WITH 2019)

* WITH A DEBT RATIO OF 39%, MONTEA’S CONSOLIDATED BALANCE SHEET SHOWS A HIGH DEGREE OF SOLVENCY

* EXPECTS FOR 2020 AN INCREASE IN DIVIDEND PER SHARE IN LINE WITH GROWTH IN EPRA EARNINGS PER SHARE, I.E. BY 5% COMPARED WITH 2019 FROM EUR 2.54 TO EUR 2.67, BASED ON A PAY-OUT RATIO OF 80%

* PORTFOLIO KPIS SUCH AS OCCUPANCY RATE OF 99.3% AND REMAINING TERM OF LEASE UNTIL FIRST EXPIRY OF 7.8 YEARS AS WELL AS QUALITATIVE AND DIVERSIFIED CUSTOMER PORTFOLIO, CONSTITUTE VALUABLE WINNING ASSET TO TACKLE CURRENT CRISIS

* REAFFIRMS ITS PROPOSAL TO PAY OUT A GROSS DIVIDEND OF €2.54 PER SHARE IN THE SECOND QUARTER OF 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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