Annual results 2012

Strategy roll-out well on track

Key points 2012 (in brackets: 2011)

  • Direct investment result € 62.5 million (€ 67.0 million)
  • Value movements high street shops 1.3% positive, value movements other investment properties 13.5% negative
  • Stable occupancy rate at year-end 2012 of 95.0% (95.1%), high street shops 97.4% (97.1%)
  • Like-for-like rental growth high street shops 2.0%
  • Strategy roll-out well on schedule: 
  • High street shop ratio increased from 49% to 55%
  • Non-core property disposals of € 145 million well above € 90 million target and on average above book value
  • Further diversification of financing by US private placement and loan of BNP Paribas
  • Loan-to-value remains with 43.9% within desired target range
  • Dividend 2012 of € 2.55 per share in cash confirmed
  • € 200 million additional non-core disposals over next three years

About Vastned

Vastned is a European listed (NYSE Euronext Amsterdam) retail property fund focusing on venues for premium shopping. It invests in selected geographical markets in Europe and Turkey, concentrating on the best retail property in the most popular shopping streets in the bigger cities (high streets). Vastned also owns attractive shopping centres and retail warehouses. Its tenants are strong and leading international and national retail brands. The property portfolio has a size of approximately € 1.5billion.