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Vastned Retail Belgium: Half-yearly financial report of the Board of Directors for the period 01.01.2020 to 30.06.2020

Written by Customer Service on . Posted in Public Companies.

Final agreements concerning rent due during the lockdown have been made with 85% of our lessees, which were obliged to close, who represent 87% of our total gross rental income.Strong liquidity position as at 30 June 2020, €16 million of unused credit facilities available.Limited debt ratio of 31.6% as at 30 June 2020.Decrease in EPRA earnings in the first semester of 2020, €1.09 per share (€1.45 for the first semester of 2019) due to the COVID-19 crisis.Occupancy rate has increased with 1.7% during the second quarter to 97.5% compared to 31 March 2020 (98.8% as at 31 December 2019).Management’s focus in 2020 primarily on timely collection of rents and maintaining the high occupancy rate for the portfolio.Decrease in the fair value of the existing real estate portfolio by 3.9% in the first semester of 2020 mainly because of the outbreak of COVID-19.Full press release:AttachmentVRB-Halfjaarverslag-2020-ENG

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