Year result in line with the announced operational objectives:
- Signing of new leases or renewals for a total surface of 20,200 sqm.
- Gradual rebalancing of the portfolio in favor of retail assets as well as « built to suit » office rented for a long term period.
- Sale of 5 assets in line with the objective announced generating a significant cash income (€ 75 Mio).
- Finalization of two new "built to suit" development projects with multinational corporations during the current bookyear, building on the established know how of Banimmo in this area.
- 8 % decrease of net rental income due to a large extent to the sale of assets.
Significant negative accounting adjustment on certain assets, in particular, the City Mall participation (€ -14.5 Mio).
The operational result amounts to € 7.2 Mio versus € 10.2 Mio in 2012.
The net current result amounts to € -4.2 Mio versus € 2.2 Mio en 2012.
The intrinsic net value decreases from € 15.08 per share to € 12.31. This decease is attributable to non recurrent adjustments.
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