Highlights H1 2020:

  • Montea expands activities to Germany through cooperation with German IMPEC Group
  • EPRA earnings of €27.3 million for H1 2020 (+ 13% compared with H1 2019)
  • EPRA earnings per share of €1.72 for H1 2020 (+ 5% compared with H1 2019)
  • With a debt ratio of 39.6%, 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 7.7 years as well as a qualitative and diversified customer portfolio, constitute a valuable winning asset to tackle the current crisis.
  • Also on 30 July 2020, Montea received 99% of the overdue rent invoices for the second quarter 2020 and 98% of the overdue rent invoices for the third quarter 2020.

Outlook for 2020 and update 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. 70% of this growth (€209 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:
    • EPRA earnings per share to grow to €3.44 (+5% compared with 2019)
    • The dividend per share to increase 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%.

Jo De Wolf about a challenging first half of 2020