Continuous Improvement in the Operational and Financial Parameters
- Increase of 8.5% in the proportionate NOI in the quarter compared with same quarter in 2018;
- Same property NOI growth in the quarter of 2.7% (excluding Russia), growth of 2.3% including Russia compared with same quarter in 2018;
- Increase of 30.4% in the FFO per share excluding Regency and of 4.6% in FFO per share in the quarter compared with same quarter in 2018;
- Increase of 26.7% in the operating cash flow (expanded solo) in the quarter compared with same quarter in 2018 to approx. NIS 0.57 per share;
- Post FCR transaction, the Company's share of privately held assets is increased to approx. 50% of its asset value, and net debt to total assets (expanded solo) decreased to 45.6%.
TEL-AVIV, Israel, May 22, 2019 (GLOBE NEWSWIRE) -- Gazit Globe (TASE: GZT), a leading global real estate company focused on the ownership, management and development of retail and mixed use properties in urban markets, announced today its financial results for the first quarter of 2019 ended March 31, 2019.
A PDF including full results is available at: http://ml.globenewswire.com/Resource/Download/9e65321b-46d0-41b8-9797-f8d1ee6adf02
CONFERENCE CALL/WEB CAST INFORMATION
Gazit Globe will host a conference call and webcast in English on Wednesday, May 22, 2019 10:00 am US EST/ 5:00 pm Israel Time, to review the first quarter ended March 31, 2019 financial results. Shareholders, analysts and other interested parties can access the conference call by dialing: United States 1 888 668 9141, Canada 1 866 485 2399, United Kingdom 0 800 917 5108, Brazil (Landline only) 0 800 764 6063, International / Israel +972 3 9180687
A presentation and replay of the call will be available on the company’s website under "Investor Relations" at: www.gazitglobe.com
Webcast link: http://veidan-stream.com/gazitglobeq1-2019stream.html
About Gazit Globe
Gazit Globe is a leading global real estate company focused on the ownership, management and development of retail and mixed use properties in North America, Brazil, Israel, northern, central and Eastern Europe, located in urban growth markets. Gazit Globe is listed on the Tel Aviv Stock Exchange (TASE: GZT) and is included in the TA-35 index in Israel. As of March 31, 2019 Gazit Globe owns and operates 103 properties, with a gross leasable area of approximately 2.5 million square meters and a total value of approximately NIS 39.9 billion. In addition, as of May 22, 2019 the Company owns approximately 9.9% of First Capital Realty Inc.
FOR ADDITIONAL INFORMATION
A comprehensive copy of the Company’s financial report is available on Gazit-Globe website at www.gazitglobe.com
Investors Contact: IR@gazitgroup.com, Media Contact: PR@gazitgroup.com
Gazit Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000
FORWARD LOOKING STATEMENTS
This release may contain forward-looking statements within the meaning of applicable securities laws. In the United States, these statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of known and unknown risks and uncertainties, many of which are outside our control that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks detailed in our public filings with the SEC and the Canadian Securities Administrators. Except as required by applicable law, we undertake no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events or otherwise.
