Interim report 31-03-2020
14-05-2020

Highlights Q1 2020:

  • EPRA earnings of €12.5 million for Q1 2020 (+16% compared with Q1 2019)
  • EPRA earnings per share of €0.79 (stable compared with 2019, due to a 16% increase in the weighted average number of shares)
  • With a debt ratio of 39%, Montea’s consolidated balance sheet shows a high degree of solvency. Furthermore, the portfolio KPIs such as an occupancy rate of 99.3% and a remaining term of lease until first expiry of 7.8 years as well as a qualitative and diversified customer portfolio, constitute a valuable winning asset to tackle the current crisis. Montea reaffirms its proposal to pay out a gross dividend of €2.54 per share in the second quarter of 2020

Outlook and update on COVID-19:

Montea reaffirms its aspiration to boost its property portfolio by ca. €300 million in 2020 and 2021,  which will result in a total property portfolio of €1,450 million by the end of 2021 -> 65% of this growth (€194 million) has already been identified.

The COVID-19 outbreak in early 2020 and (the results of) the measures taken to contain the virus could have an impact on Montea’s financial performance in 2020. Based on the current knowledge and taking the consequences of the crisis into account, Montea expects for 2020:

  • growth in EPRA earnings per share to €3.44 (+5% compared with 2019)
  • an increase in the dividend per share in line with the growth in the EPRA earnings per share, i.e. by 5% compared with 2019 from €2.54 to € 2.67, based on a pay-out ratio of 80%