Montea adjusts growth target to €1.6 billion by the end of 2021.
Highlights Q1 2021:
- Launch of ESG report: our medium-term sustainability strategy with the ambition of making our own operations carbon-neutral by 2021
- Elaboration and implementation of a Green Finance Framework
- Issue of € 235 million in Green Bonds via US Private Placement
- EPRA earnings: € 0.96 per share, an increase of 22% compared with 2020, taking into account a one-off payment received in 2021 whereupon Montea waives its pre-emptive right to the possible sale of a plot of land with buildings in Tilburg. If this one-off payment is not taken into account, the EPRA earnings per share are up by 6.4% compared with the same period in 2020.
- Strong fundamentals:
- Controlled debt ratio of 36.3%
- High occupancy rate of 99.4%
- Long remaining term of the leases up to first expiry date of 7.5 years – exclusive of solar panels
- Qualitative and diversified client portfolio
- Montea is adjusting its growth target - also due to the recent revaluations of the existing portfolio - and boosting its ambition to get the property portfolio to grow by € 450 million compared with 2019, which will result in a property portfolio of € 1,600 million (previously € 1,450 million) by the end of 2021.
- Montea expects the EPRA earnings per share to grow to € 3.68 in 2021 (up 5% compared with 2020) and the dividend per share to increase to € 2.96 (also up 5% compared with 2020). These forecasts are based on current knowledge and an estimate of the COVID-19 crisis, without taking into account the possible negative consequences of a new wave or lockdown.
