SOURCE: Wereldhave NV

March 03, 2011 04:25 ET

Results 2010 Wereldhave N.V.

THE HAGUE, NETHERLANDS--(Marketwire - March 3, 2011) -

  • Profit EUR 95.1 mln (2009: EUR -102.3 mln)
  • Direct result EUR 115.9 mln (+4%)
  • Direct result per share EUR 5.10 (+3.5%)
  • Net asset value per share EUR 75.12 (+2%)
  • Optional dividend EUR 4.70 (2009: EUR 4.65)
  • Solvency 60%
  • Issue USD 300 mln private placement

Profit
The profit for 2010 amounted to EUR 95.1 mln, or EUR 4.15 per share (2009: EUR -102.3 mln or EUR -5.07 per share). The improved result is primarily caused by improved valuation results. The revaluation totalled EUR - 15.1 mln, mainly caused by acquisition costs that were deducted for the valuation (2009: EUR - 245.8 mln). Exchange rate differences had a negative effect on profit of EUR 2.6 mln (2009: + EUR 6.0 mln).

Direct result
The direct result over 2010 amounted to EUR 115.9 mln, which was EUR 4.8 mln higher than the figure for 2009. Due to the purchases and the letting of two offices in Washington DC and Paris, net rental income rose by EUR 17.0 mln. As these acquisitions were financed with debt, interest charges rose by EUR 8.6 mln. The average interest rate as per December 31, 2010 remained stable at 2.6%.

The results will be explained during a conference call, to be held today at
14.00 h CET. The conference call can be followed by audiocast on www.wereldhave.com. Questions can be put by e-mail via this webcast.

Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/2530C_-2011-3-3.pdf

The Hague, March 3, 2011
Board of Management Wereldhave N.V.

Contact Information

  • For further information:
    Wereldhave N.V.
    Richard W. Beentjes
    Tel. + 31 70 346 93 25
    Wereldhave. Value for tomorrow.
    www.wereldhave.com

    Information for analysts:
    Wereldhave N.V.
    Charles F. Bloema
    Tel. + 31 70 346 93 25