VastNed Retail NV Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2012; Reaffirms Earnings Guidance for the Full Year 2012
May 08, 2012
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VastNed Retail NV reported consolidated unaudited earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported net rental income of EUR 29,175,000 against EUR 28,574,000 for the same period a year ago. Total net income from investment properties was EUR 12,199,000 against EUR 49,884,000 a year ago. Investment result before taxes was EUR 1,149,000 against EUR 39,797,000 a year ago. Investment result after taxes was EUR 3,906,000 against EUR 38,464,000 a year ago. Investment result attributable to the company's shareholders was EUR 1,773,000 or EUR 0.10 per diluted share against EUR 32,728,000 or EUR 1.77 per diluted share a year ago. Cash flow from operating activities was EUR 14,219,000 against EUR 14,665,000 a year ago. Acquisition of investment properties and investments was EUR 10,805,000 against EUR 43,875,000 a year ago.
The company maintains the outlook for 2012 published at the time of the annual results of 2011.
Vastned Retail N.V. is a European listed property company focusing on the best retail property on the popular high streets of selected European cities with a historic city centre, also referred to as « core city assets ». The tenants of VastNed Retail N.V. include international and national department stores that are leading in their sector; major luxury, fashion and sports brands; supermarkets; and a wide range of other retailers.
By investing in historic city centres Vastned Retail N.V. contributes to the preservation of the cultural heritage in these city centres. Vastned Retail N.V. also provides a positive contribution to the liveability and safety in city centres by creating and renovating residential space above retail units. In this way, the company endeavours to create long-term value for its shareholders, tenants, employees and society as a whole.
At year-end 2023, the group's real estate portfolio amounted to EUR 1,373 million. Over 80% of the portfolio is comprised of property located in the historic centres of selected European cities. The remainder of the portfolio is mostly made up of Belgian retail parks, supermarkets and high-quality retail property in smaller cities in the Netherlands and Belgium.
VastNed Retail NV Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2012; Reaffirms Earnings Guidance for the Full Year 2012
VASTNED RETAIL N.V. 
