Key figures

  • Geographical distribution

  • Type of building

  • Growth of portfolio between 1999 and 2017

  • Commercial activities of tenants

The financial year of Retail Estates starts on 1 April and ends on 31 March. The key figures below are consolidated figures incorporating the subsidiaries.

Real Estate Portfolio 31/03/2017 31/03/2016 31/03/2015
Total retail properties 668 634 554
Total lettable area in m² 748,136 708,879 611,076
Estimated fair value in EUR 1,071,361,000 1,000,799,000 837,121,000
Estimated investment value in EUR 1,097,917,000 1,025,536,000 857,862,000
Average rent price per m² 95.45 95.86 92.48
Occupancy rate 98.13% 98.22% 98.78%
Balance Sheet Information 31/03/2017 31/03/2016 31/03/2015
Shareholders' equity 514,970,000 474,170,000 381,212,000
Debt ratio (RREC legislation*, max. 65%) 50.26% 49.95% 51.54%
Results 31/03/2017 31/03/2016 31/03/2015
Net rental income 66,024,000 61,680,000 52,706,000
Property result 65,465,000 61,386,000 52,334,000
Property charges -4,940,000 -4,504,000 -3,362,000
General costs and other operating costs and income -2,941,000 -2,841,000 -2,888,000
Operating result before result on the portfolio 57,584,000 54,041,000 46,084,000
Result on portfolio 13,889,000 10,557,000 6,610,000
Operating result 71,473,000 64,598,000 52,694,000
Financial result -19,064,000 -21,774,000 -17,128,000
Net result 52,136,000 42,035,000 35,238,000
EPRA earnings 39,115,000 36,473,000 28,628,000
Information per Share 31/03/2017 31/03/2016 31/03/2015
Number of shares 9,008,208 8,866,320 7,559,473
Number of shares entitled to dividend 9,008,208 8,866,320 7,559,473
Net asset value IFRS 57.17 53.48 50.43
EPRA NAV 59.29 56.66 53.68
Net asset value (investment value) excl. dividend excl. the fair value of authorized hedging instruments 58.96 56.27 53.34
Gross dividend per share 3.30 3.20 3.10
Net dividend per share 2,310 2,336 2,325
Gross dividend yield on closing price (excl. dividend) 4.48% 4.28% 4.22%
Net dividend yield on closing price (excl. dividend) 3.10% 3.09%£ 3.16%
Closing price on closing date 76.90 78.00 76.64
Average share price 77.54 73.53 64.91
Evolution of share price during the financial year -1.28% 5.65% 30.01%
Over-/undervaluation compared to net asset value IFRS 34.51% 45.85% 51.97%

* The Royal Decree of 13 July 2014 (the 'RREC R.D.') in execution of the Law of 12 May 2014 (the 'RREC Law') on regulated real estate companies (Belgian REITs).