Vastned’s high street portfolio provides solid basis

Key points H1 2012 (in brackets: H1 2011)

  • Direct investment result € 31.6 million (€ 33.6 million)
  • Indirect investment result € 44.0 million negative (€ 29.5 million positive), mainly due to value movements in Spanish portfolio
  • Value movements high street portfolio 1.5% positive; value movements other investment properties 6.6% negative
  • Average occupancy rate stable at 95.3% (95.2%)
  • Rental income increased to € 67.1 million (€ 65.6 million), driven by France, Belgium and the Netherlands
  • Rental income from Spanish portfolio (17% of total portfolio) virtually stable at € 14.4 million (€ 14.9 million) in spite of challenging market
  • Like-for-like rent growth of 0.7% (high street shops 3.1%, other investment properties 1.0% negative)
  • Alternative tax structure in Spain limits tax burden by approx. 40%
  • Interim dividend per share: € 1.01 (€ 1.09)

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 € 2.1 billion.