CITYCON ’S - Bene direi. Anche le azioni mostrano di gradire (+3%)
OPERATIONAL FIGURES WERE STRONG IN Q3 – YTD total tenant sales were slightly above prior year (+0.3%) reflecting an increase in average consumer purchase – Rent collection for YTD stands currently at 94%, Q3 currently at 93% and H1 at 95%. – YTD financial performance remained solid: total net rental income adjusted for FX rates was -2.2% – Administrative expenses declined from last year by -5.0% – Valuation decline was modest being -0.6% in Q3 – Leasing activity has continued strong – YTD we have 175,000 sq.m. commencing compared to 113,000 for the corresponding period in 2019 JULY—SEPTEMBER 2020 – Net rental income was EUR 52.9 million (Q3/2019: 54.2). Net rental income was affected by COVID-19 pandemic and discounts granted to tenants in Q2 as well as lower turnover based rents and parking income. The acquisition of SPII in Norway, closed in the beginning of 2020, increased net rental income by EUR 2.6 million. This was offset by impact of weaker currencies that reduced net rental income by EUR 1.1 million. – EPRA Earnings decreased to EUR 33.5 million (35.5) as result of a decrease in net rental income, currency changes, lower share of profit of joint ventures and associated companies. EPRA Earnings per share (basic) was EUR 0.188 (0.199), impact from weaker currencies being EUR -0.005 per share. – Adjusted EPRA earnings decreased to EUR 29.4 million (35.5) due to hybrid bond coupons for the bond issued in late 2019 and lower earnings. – IFRS-based earnings per share was EUR -0.00 (0.08) as a result of higher fair value losses, lower net rental income and hybrid bond coupons and expenses. JANUARY—SEPTEMBER 2020 – Net rental income was EUR 155.5 million (Q1–Q3: 164.0). Acquisitions increased NRI by EUR 6.7 million, while previous year’s divestments and weaker NOK and SEK decreased net rental income by EUR 2.4 million and by EUR 5.0 million respectively. Like-for-like net rental income decreased by EUR 5.9 million mainly due to discounts granted to tenants in Q2 and volume driven income items that were affected by Covid-19 pandemic.
