March 17, 2020 / 3:53 PM / 19 days ago

BRIEF-Retail Estates Does Not Expect Coronavirus To Have Significant Impact On FY Results

March 17 (Reuters) - RETAIL ESTATES NV:

* THE ACCELERATED SPREAD OF COVID-19 (“CORONAVIRUS”) HAS COMPELLED THE BELGIAN AND DUTCH AUTHORITIES TO TAKE MEASURES IN ORDER TO LIMIT AND/OR SLOW DOWN THIS SPREAD BY INTERVENING IN THE PUBLIC LIFE OF THEIR CITIZENS

* DOES NOT EXPECT THESE EVENTS TO HAVE A SIGNIFICANT IMPACT ON THE RESULTS OF THE CURRENT FINANCIAL YEAR 2019-2020, WHICH ENDS ON 31 MARCH 2020

* ON CORONAVIRUS: MEASURES WILL PROBABLY HAVE A TEMPORARY NEGATIVE INFLUENCE ON THE BUYING BEHAVIOUR OF OUR TENANTS’ CUSTOMERS

* BELGIAN GOVERNMENT MEASURES AFFECT ABOUT 90% OF THE RETAIL ACTIVITIES OPERATED IN THE BELGIAN RETAIL UNITS OF RETAIL ESTATES

* THANKS TO HEALTHY BALANCE SHEET AND OPERATIONAL RESULTS, RETAIL ESTATES MOREOVER HAS ACCESS TO SUFFICIENT UNUSED CREDIT FACILITIES, SHOULD THE NEED ARISE

* OWNS SMALL CATERING ESTABLISHMENTS IN A FEW RETAIL PARKS, WHICH ARE SEVERELY AFFECTED BY THESE MEASURES Source text: bit.ly/2Udlmfr Further company coverage: (Gdansk Newsroom)

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