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La
sicafi Leasinvest Real Estate SCA investit dans des immeubles de qualité
bien situés: bureaux (Bruxelles / Gand / Anvers), bâtiments
logistiques et magasins.
La
valeur de placement au 31 mars 2004 s’établit à 264,3 millions
EUR. Le portefeuille représente une superficie de plus de 180.000
m2 répartis entre 14 sites différents et 35 bâtiments.
La
sicafi est notée à la bourse Euronext et est membre du segment
NextPrime depuis janvier 2002. Leasinvest Real Estate SCA affiche une capitalisation
boursière de 156,9 millions EUR (valeur au 14 juillet 2004).
Leasinvest
Real Estate a été fondée par Leasinvest, une entreprise
immobilière privée qui offre à ses clients, partenaires
et investisseurs des solutions sur le plan de l'immobilier d'entreprise
et résidentiel. Leasinvest est également l'actionnaire principal
(avec 40,77% des actions) et le gestionnaire de fonds de Leasinvest Real
Estate. Leasinvest gère directement ou indirectement un actif immobilier
de plus de 500 millions d’EUR et est active dans l’investissement et le
développement immobiliers. L'entreprise est une filiale du groupe
d'investissement Ackermans & van Haaren qui est coté sur Euronext.
Leasinvest
Real Estate Interim statement first 9 months of the financial year 2007/2008
(01/07/07-31/03/08)
During
the third quarter of the financial year 2007/2008 Leasinvest Real Estate
has increased the fair value of its real estate portfolio from 441.1 million
euros (31/12/07) to 468.9 million euros (+6%) by the acquisition of 4 buildings
(logistics and retail) in the Antwerp region. Furthermore an agreement
has been concluded for the acquisition of a strategically situated logistics
site of 50.000 m² near Brussels (Canal Logistics). Both transactions
fit within the diversification and growth strategy of the company.
Further
diversification in logistics and storage[1]
On
29/02/08 Leasinvest Real Estate has acquired, directly and indirectly,
100% of two companies, owners of the following buildings:
-
a storage and distribution site in Wommelgem of nearly 28,000 m² (including
4,200 m² of offices),
-
two storage spaces of respectively 5,000 and 8,000 m² situated in
the 'transportzone Meer', and
-
a retail building of 4,800 m² which will be contributed in kind for
a value of 3.5 million euros, through a partial splitting-up, into real
estate fund Retail Estates in exchange for new shares (before the end of
June 2008).
Furthermore,
Leasinvest Real Estate has concluded an agreement for the acquisition,
subject to the realisation of a number of conditions precedent, of 100%
of the company Canal Logistics Brussels in the second half of 2009. With
this take over, Leasinvest Real Estate will acquire an important future
storage and distribution site of more than 50,000 m2 of storage space and
2,500 m2 of offices in Neder-over-Heembeek, of which the completion is
foreseen for mid-2009.
Key
figures on 31/03/08[2]
The
fair value of the real estate portfolio in operation amounts to 468.9 million
euros on 31/03/08 compared to 441.1 million euros on 31/12/07. The acquisitions
in the Antwerp region, mentioned above, explain to a large extent the increase
by 6%. If the acquisition of Canal Logistics is realised, the real estate
portfolio will increase to over 500 million euros.
The
shareholders' equity, share of the group (based on the fair value of the
real estate portfolio), amounts to 263.5 million euros on 31/03/08 (31/12/07:
260.7 million euros), which corresponds to a net asset value per share
of 65.94 euros (31/12/07: 65.21 euros).
The
debt ratio, calculated according to the RD of 21/06/06, amounts to 43.38%
and has increased compared to 31/12/07 (40.34%).
The
occupancy rate[3] amounts to 96.46% on 31/03/08 (31/12/07: 97.74%).
The
rental yield based on the fair value is 7.14% on 31/03/08 (31/12/07: 7.21%);
based on the investment value, this amounts to 6.96% (31/12/07: 7.03%).
Outlook
for the period ending on 30/06/08 (12 months)
Also
thanks to the expected revaluation gain, in the 4th quarter, on the completion
of the renovation and extension of the 'CFM' buildings in Luxembourg, the
net result on 30/06/08 (12 months) will be in line with the net result
of the previous financial year (34.9 million euros); this is not taken
into account further changes in the value of the portfolio during the 4th
quarter of this financial year.
Extension
of the financial year of Leasinvest Real Estate by 6 months till 31/12/08
The
change[4] of the financial year end of Leasinvest Real Estate from 30 June
into 31 December will be proposed to the general meeting of shareholders
in order to make the financial year correspond, as from now on, to the
calendar year. Consequently, the current financial year will be extended
by 6 months, to end on 31/12/08. An extraordinary general meeting of shareholders
of Leasinvest Real Estate will be convened to approve this amendment to
the articles of association.
Leasinvest
Real Estate - Half-year results financial year 2007/2008 (period
01/07/07-31/12/07)
Steady
occupancy rate of 97.74% (30/06/07: 97.01%)
Promising
redevelopment in the Grand Duchy of Luxembourg
Net
result for 2007/2008 expected to be at least comparable to the net result
of the previous financial year[1]
The
real estate fund Leasinvest Real Estate reached, for the first half-year,
a net result (part of the group) of 15.5 million euros, compared to 18
million euros for the same period of the previous financial year, which
is fully in line with our estimated result.
Steady
portfolio value of 441.1 million euros on 31/12/07
The
value of the real estate portfolio in operation (excluding the development
projects), or 441.1 million euros (30/06/07: 445.9 million euros), has
slightly decreased due to the sale of the building 'Aubépines' in
Luxembourg on 04/07/07.
The
value of the real estate, including the development projects, remained
practically equal and amounted to 459.2 million euros on 31/12/07, compared
to 459.3 million euros on 30/06/07.
The
real estate portfolio in operation consists of 49 buildings, of which 38
buildings situated in Belgium and 11 in the Grand Duchy of Luxembourg.
Promising
redevelopment in Luxembourg
In
the Cloche d'Or region situated in the city of Luxembourg, the real estate
fund has, through its subsidiary Leasinvest Immo Lux, two important ongoing
redevelopment projects, namely the projects 'CFM' and 'Bian'.
The
'CFM' project to be completed consists of a renovation of the current site
with an extension of 4,000 m² of storage and 1,200 m² of offices,
on demand of the current tenant. Both extensions were already pre-let on
a long term basis.
The
'Bian' project is an office building which is entirely stripped and being
extended to 5,500 m². During the current financial year no rental
income will be generated. The completion of the renovated office building
is expected by the end of 2008. Marketing of the building has already started
and offers good perspectives.
Occupancy
rate stable at 97.74% on 31/12/07
The
occupancy rate amounted to 97.74% compared to 97.01% (30/06/07) thanks
to the renewal of current and the conclusion of new leases.
Outlook
for the entire financial year 2007/2008
Leasinvest
Real Estate will keep on focusing on a further extension of its real estate
portfolio in Belgium and the Grand Duchy of Luxembourg, as well in office,
logistics as in retail buildings
Also
thanks to the realised gains of 3.6 million euros on the sale of the building
'Aubépines' in Luxembourg during the first half-year and the expected
revaluation gains during the second half-year, on the completion of the
renovation with extension of the 'CFM' buildings in Luxembourg, a net result,
at least comparable to the net result of the previous financial year (34.9
million euros) is expected for the entire financial year, this is, not
taking into account further changes in the value of the portfolio in the
2nd half-year of this financial year.
Leasinvest
Real Estate - Half-year results financial year 2006/2007 (period of 01/07/06
- 31/12/06)
Further
increase of the occupancy rate to 96.97%
(31/12/05:
92.67%)
Net
current result per share, share of the group of 2.25 EUR
(+
34.9% compared to 1.67 EUR on 31/12/05)
Net
profit, share of the group, per share increase of 69%: 4.48 EUR
(2.65
EUR the previous year)
IFRS
key figures
31/12/06 31/12/05
Real
estate portfolio in fair value (1) (3) (in 1,000 EUR) 476,302 272,238
Real
estate portfolio in investment value (2) (3) (in 1,000 EUR) 488,510 279,210
Occupancy
rate (4) 96.97% 92.97%
Rental
yield based on fair value 7.45% 7.32%
Rental
yield based on investment value 7.27% 7.14%
Number
of issued shares 4,012,832 3,249,221
Number
of shares participating in the result 4,012,832 3,249,221
Number
of listed shares 4,012,628 3,249,221
Rental
income (in 1,000 EUR) 17,014 9,375
Rental
income per share 4.24 2.89
Net
current result, share of the group (in 1,000 EUR) (5) 9,043 5,429
Net
current result per share, share of the group 2.25 1.67
Net
result, share of the group (in 1,000 EUR) 17,959 8,619
Net
result per share, share of the group 4.48 2.65
(1)
fair value: the investment value as defined by an independent real estate
expert and of which the transaction costs, as defined on p. 75 of the annual
brochure 2005/2006, are deducted; the fair value is the accounting value
under IFRS
(2)
the investment value corresponds to the previously used term "investment
value" and is the value as defined by an independent real estate expert
and of which the transaction costs, as defined on p. 75 of the annual brochure
2005/2006, have not yet been deducted
(3)
takes into account the headings "investment properties" under the non-current
assets and "assets available for sale" (4) the occupancy rate takes into
account all buildings and is calculated based on the estimated rental value
as follows: (estimated rental value - estimated rental value on vacancy)
/ estimated rental value
(5)
net result minus portfolio result
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