Distribution of company announcements to the professional platforms, finance portals and syndication of important corporate news to a wide variety of news aggregators and financial news systems.
Corio NV (AMS:COR) * * Net rental income from continuing operations increased by 18.1% to € 220.1 m (€ 186.4 m). 'Like-for-like' net rental growth was 4.9% for the total continuing portfolio and for the retail portfolio 4.5% (6.4%). * Corio received € 622 m in cash from the sold Dutch offices and industrial portfolio on 30 September 2008. * EBIT increased by € 32.8 m to € 253.4 m (€ 220.6 m) which outweighs the increase in net financing expenses of € 26.3 m to € 96.4 m (€ 70.1 m). * Direct result increased by 4.5% to € 155.9 m (€ 149.2 m) or € 2.36 per share (€ 2.25). * The average occupancy rate for the first nine months of the total property portfolio increased by 0.2% point to 96.6% (96.4%), average occupancy rate of retail remained the same at 97.7%. * Value of the property portfolio (including discontinued portfolio[1] and share of associates) decreased to € 6,415 m (year-end 2007: € 6,460 m); 92% of the portfolio is invested in retail. * Share of profit of associates increased by € 0.8 m to € 11.7 m (€ 10.9 m). * Operating income from discontinued operations increased by 5.8% to € 43.7 m (€ 41.3 m). * Fixed pipeline decreased by € 526 m, mainly due to the transfer of Grand'Littoral in Marseille and Pieter Vreedeplein in Tilburg to the investment portfolio. Total FVP-pipeline (fixed, variable and prospect pipeline) decreased to € 3,045 m (year-end 2007: € 3,485 m). * Leverage was 39.2%[2] at 30 September 2008, average interest rate in Q3 2008 was 5.1%, debt with a fixed interest rate increased to 65% (year-end 2007: 56%). * Indirect result from continuing operations was € 81.9 m negative (€ 238.7 m) and the indirect result of discontinued operations was € 41.8 m negative (€ 38.5 m). * Triple NAV (NNNAV) per share decreased by 1.6% to € 60.77 (year-end 2007: € 61.77).
[1] Excluding the bookvalue of part of office building Jacobsweerd that is occupied by Corio [2] Leverage at 30-09-2008 is calculated in compliance with the covenants of the financial institutions, comparable leverage at 31-12-2007 is: 36.9%
36,9%.
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
