Highlights Q3 2020:
- EPRA earnings of €42.2 million over 9 months in 2020 (+ 13% compared with 9 months in 2019)
- EPRA earnings per share of € 2.66 (+ 9% compared with 9 months in 2019)
- Fair value of the property portfolio was up by €126 million (or 11%) compared with the end of 2019 to € 1,285 million
- With a debt ratio of 40,0%, 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
- On 3 November 2020, Montea had received 99% of the total rent due.
Outlook for 2020 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. 75% of this growth (€225 million) has already been identified
- The COVID-19 outbreak 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 at least € 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. at least by 5% compared with 2019 from € 2.54 to € 2,66, based on a pay-out ratio of 80%
