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EURONEXT BRUSSELS
Wereldhave
Belgium est une sicaf immobilière depuis le 15 janvier 1998. Cette
sicaf immobilière est régie par l'Arrêté Royal
du 10 avril 1995 et est reconnue par la Commission Bancaire et Financière.
La
société a le statut fiscal de sicaf immobilière et
n'est par conséquent pas taxée à l'impôt des
sociétés, sauf sur les éventuels avantages anormaux
et bénévoles reçus et sur des dépenses non
admises à titre de frais et charges professionnelles.
La
gestion est exercée par la S.A. Wereldhave Belgium N.V., désignée
comme l'unique gérant. Monsieur J. Puttemans sést retiré
en tant qu'administrateur de la société en mai 2002 et a
été remplacé pa monsieur B. Graulich. Las gestion
du gérant remercie monsieur J. Puttemans pour la manière
remarquable de laquelle il a accompli ses tâches
Les
actions Wereldhave Belgium sont cotées au marché continu
d'Euronext à Bruxelles et sont incluses dans le segment "NextPrime".
Consolidée,
Wereldhave N.V., La Haye, possède 68,2% des actions au 31 décembre
2002.
Fortis
Banque agit en tant que banque dépositaire et Vermeulen-Raemdock
en tant qu'apporteur de liquidité.
Wereldhave
Belgium: Results first quarter 2007
Key
figures (amounts x € 1,000) To March 2007 To March 2006
Direct result 5,497 5,413 +1.6%
Indirect result 353 37
Profit 5,850 5,450 +7.3%
Direct result per share 1.03 1.01 +1.6%
Profit per share 1.10 1.02 +7.3%
Equity
31-03-2007 31-12-2006
Investment
properties 349,903 348,959
+0.3%
Project developments 6,884 6,847 +0.5%
Shareholders' Equity 364,270 ¹ 358,428 ¹ +1.6%
Net asset value per share 68.32 €¹ 67.22 €¹ +1.6%
Debt ratio on total of assets 2.0 % 2.6 %
Number of shares 5,331,947 5,331,947
1) before profit distribution and before payment of dividend of the financial
year 2006
Profit
The
profit for the first quarter of 2007 rose to € 5.9 mln (2006: €
5.5 mln). This is the result of a higher positive revaluation (€ 0.3
mln) of the investment properties portfolio and a slightly higher direct
result (€ 0.1 mln).
Direct
result
During
the first quarter, the direct result of Comm. VA Wereldhave Belgium SCA
increased to € 5.5 mln (2006: € 5.4 mln). This slight increase
is the result of higher net rental income (€ 0.2 mln) and higher property
charges and general expenses (€ 0.1 mln).
Shareholders'
equity and net asset value
Shareholders'
equity at March 31, 2007 amounts to € 364.3 mln (December 31, 2006:
€ 358.4 mln). The net asset value per share at March 31, 2007, including
the profit of the current year and the dividend over the financial year
2006, amounts to € 68.32 (December 31, 2006: € 67.22).
Property
portfolio
At
March 31, 2007 the fair value of the property portfolio amounts to €
349.9 mln (December 31, 2006: € 349.0 mln). The net increase of €
0.9 mln can be attributed to investments on buildings in the portfolio
of € 0.6 mln and to a positive net revaluation of the portfolio of
€ 0.3 mln. At March 31, 2007 the debt ratio on the total of assets
amounts to 2.0%. The average occupancy rate, expressed in a percentage
of rental income, amounts to 85.2% (2006: 84.0%). The vacancy concerns
only the office portfolio.
Dividend
In
accordance with the proposition of the Management Company, the Annual General
Meeting of Shareholders decided on April 11, 2007, to attribute a dividend
of € 3.75 gross (€ 3.19 net). As from April 20, 2007, the share
quotes ex-dividend.
Dispute
During
the session of April 27, 2007, the Raadkamer / Chambre du Conseil in Brussels
decided to put before a private sitting of the court the case regarding
the matter of a penal dispute arising from the sale of a company in 1993,
later reclassified as a cash company. The decision of the Raadkamer / Chambre
du Conseil concerning the proceedings is expected on May 31, 2007.
Prospects
Wereldhave
Belgium's profit development will be mainly dependent on the letting of
vacant office space.
Wereldhave
Belgium: Results 2006
Profit
EUR 15.4 mln higher (+53.7%)
Higher
direct result EUR 20.4 mln (+1.1%)
Increase
net asset value to EUR 67.22 (+7.4%)
Proposed
gross dividend EUR 3.75
Key
figures (amounts x EUR 1,000) 2006 2005
Direct result 20,411 20,182 +1.1%
Indirect result 23,677 8,506 +178.4%
Profit 44,088 28,688 +53.7%
Direct result per share 3.83 3.79 +1.1%
Profit per share 8.27 5.38 +53.7%
Equity 31-12-2006 31-12-2005
Investment
properties
348,959
319,894
+9.1%
Project developments 6,847
Shareholders' Equity 358,428 ¹ 333,824 ¹ +7.4%
Net asset value per share 67.22 EUR¹ 62.61 EUR¹ +7.4%
Debt ratio on total of assets 2.6 % 0.79 %
Number of shares 5,331,947 5,331,947
1)
before profit distribution
Profit
The
profit for 2006 rose to EUR 44.1 mln (2005: EUR 28.7 mln). This is the
result of a higher positive revaluation (EUR 15.2 mln) of the investment
properties portfolio and a higher operating result before result on the
portfolio (EUR 0.2 mln).
Direct
result
During
2006, the direct result of Comm. VA Wereldhave Belgium SCA increased to
EUR 20.4 mln (2005: EUR 20.2 mln). This increase is the result of higher
net rental income (EUR 1.1 mln) and higher property charges and general
expenses (EUR 0.9 mln). This increase of the costs is mainly due to a release
of provisions in 2005.
Shareholders'
equity and net asset value
Shareholders'
equity at December 31, 2006 amounts to EUR 358.4 mln (December 31, 2005:
EUR 333.8 mln). The net asset value per share at December 31, 2006, including
the profit of the current year, amounts to EUR 67.22 (December 31, 2005:
EUR 62.61).
Property
portfolio
At
December 31, 2006 the fair value of the property portfolio amounted to
EUR 349.0 mln (December 31, 2005: EUR 319.9 mln). The net increase of EUR
29.1 mln can be attributed to investments on buildings in the portfolio
of EUR 3.3 mln, to the purchase of a plot of land (28,000 m²) for
an amount of EUR 2.1 mln for the expansion of the shopping centre "Les
Bastions" in Tournai and to a positive net revaluation of the portfolio
of EUR 23.7 mln. This substantial increase in the 4th quarter can be attributed
to a number of macro-economical factors, e.g. the stability of the Belgian
property market, the interest of institutional investors in commercial
centres and the pressure on initial rents for top quality real estate.
At
December 31, 2006 the debt ratio on the total of assets amounts to 2.6%.
The
average occupancy rate over 2006, expressed in a percentage of market rent,
amounts to 83.9% (2005: 82.9%). The vacancy concerns only the office portfolio.
Development
projects
During
2006, Wereldhave Belgium the purchased 2 plots of land (42,000m²)
alongside the shopping centre in Nivelles for an amount of EUR 6.8 mln.
These plots have a residential destination
Annual
Report and Dividend
The
Annual General Meeting of Shareholders is to be held on Wednesday April
11, 2007 at 11 a.m. at the company's registered office. A dividend of EUR
3.75 gross (EUR 3.19 net) per share will be proposed to the General Meeting
of Shareholders. The dividend will be payable as from April 20, 2007. The
2007 annual report will be published in March.
Dispute
Wereldhave
Belgium announces that the Raadkamer / Chambre du Conseil decided on February
20, 2007 to postpone the case regarding the matter of a penal dispute arising
from the sale of a company, later reclassified as a cash company, till
March 23, 2007.
Prospects
In
2007 the management expects a positive development of the direct result
and a higher offices portfolio occupancy rate. In this regard, various
rental agreements were already signed by the end of 2006 (e.g. Olieslagerslaan
in Vilvoorde and the offices in Berchem). Substantial rent increases were
agreed during lease renewals in the shopping centres. The start of the
expansion of the shopping centre in Nivelles is planned end 2007.
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