Banimmo: Results of the first half-year of the financial year 2020

Highlights first half-year 2020:

• No COVID-19 impact on rental income, limited impact on planning of construction sites in progress;
• Sale to Belfius Insurance of 100% of the shares of MC² Development SA, the company currently building ING’s new activity centre in Louvain-la-Neuve. The transfer of the shares will take place after ING occupies the building and has paid the first rent, foreseen in December 2021.
• Bond loan of € 43.8 million repaid on 19 February 2020, partially with own resources coming from the sale of SAS Golf Hotel de Chantilly, and partially with a financing by Patronale Life; 
• Decrease of debt to € 53.3 million with a LTV-ratio of 43.3%;
• The occupancy rate of the portfolio of buildings on 30 June 2020 amounts to 83.74%, a decrease by 7.8% compared to 31 December 2019. This is a consequence of the departure of Unilever from the building NETWORKS Forest (previously Diamond Building).
• The rental income amounts to € 1.9 million, a slight increase in comparison with € 1.8 million on 30 June 2019;
• The consolidated net result (IFRS) of the first half-year of 2020 records a loss of € 2.18 million, compared to a loss of € 3.14 million on 30 June 2019;
• On 30 June 2020 the value of the real estate portfolio amounted to € 87.49 million, compared to a balance sheet total of € 117.7 million;
• The Net Asset Value per share according to the accounts stands at € 3.87 on 30 June 2020;
• The commercialization of NETWORKS Gent and NETWORKS NØR will continue in the second half-year of 2020.

For more information, contact:

Banimmo NV                 Laurent Calonne                        Werner Van Walle
Bischoffsheim 33            CEO                                          Chairman of the board of directors
B-1000 Brussels              [email protected]    [email protected]
T +32 2 710 53 11
                        

This press release is available on the website of the company www.banimmo.be

On Banimmo
Banimmo is an important player in the transformation of tertiary real estate assets and the development of build-to-suit building that respond to the needs and strict criteria of investors-users and tenants.
The current real estate portfolio comprises approximately 38,500 m² of developed surfaces and a reserve of ca. 281,000 m² of development potential. 

Attachment

• Banimmo PB_Half-year results 2020_ENG