Annual Communiqué – Announcement of 2020 annual results
Annual results 01/01/2020 – 31/12/2020
EPRA earnings of 1.70 EUR per share1, an increase of 6.3% compared to 31 December 2019, notwithstanding a 30% increase in the weighted average number of shares.
Proposed dividend of 1.36 EUR per share, i.e. an increase of 4.6% compared to 2019, pay-out ratio drops to the legal minimum of 80%.
The EPRA earnings – group share amounts to 1.70 EUR per share. The EPRA earnings – group share amounts to 33,299 KEUR in 2020, i.e. an increase of 38% compared to 2019.
Net rental result rises to 57,896 KEUR, i.e. a 29% increase compared to 44,932 KEUR in 2019.
EPRA NAV per share2 of 34.87 EUR3, compared to 35.96 EUR as at 31 December 2019.
IFRS NAV per share2 of 31.34 EUR, compared to 32.71 EUR as at 31 December 2019.
Debt ratio of 54.18%, compared to 45.67% as at 31 December 2019. Following the successful completion of the capital increase of 55 MEUR in November 2020, the debt ratio was brought down to approx. 50%. On 31 December 2020, the debt ratio again rose to 54.18% as a result of the acquisition of Zernike Tower in Groningen, the acquisition of Uhub São João and Uhub Benfica and as a result of the decline in the valuation of the property in the Netherlands due to a change in the tax rate for transfer taxes applicable to the sale of property.
Stable occupancy rate of 97.7%. Most rents for Q4 were received and the recovery rate (96.8%) is in line with the same period last year (97.4%).
Xior continues to expand in the Netherlands and Spain with new projects totalling approx. 41.7 MEUR. After the acquisition of Zernike Tower in Groningen, we continue to roll out our growth strategy in 2021 with acquisitions of new projects in Leeuwarden (18.5 MEUR) and Malaga (23.2 MEUR).
Property portfolio rises to 1,556 MEUR, an increase of 31% compared to 31 December 2019, with 11,046 lettable student units. If all acquisitions and redevelopments in the committed pipeline are completed, the portfolio will rise to approx. 2,000 MEUR with more than 16,000 lettable student units. After completion of the pipeline, the annualised rent will be approx. 113 MEUR.
Prospects for 2021: EPRA earnings of 1.80 EUR per share and dividend of 1.44 EUR per share.
Xior foresees an EPS growth of at least 10% for 2022 compared to 2021 if its growth strategy is executed.
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1 Figures per share are calculated on the basis of the weighted average number of shares, unless stated otherwise.
2 Based on the number of shares issued.
3 Decrease mainly due to the negative net result as a result of the decrease in the valuation of the property in the Netherlands due to the change in the transfer tax rate applicable to the sale of property.
Find the full press release with the annual results 2020 in the PDF file added below
For more information, please contact:
Xior Student Housing NV
Mechelsesteenweg 34, box 108
2018 Antwerp
www.xior.be
Christian Teunissen, CEO
Frederik Snauwaert, CFO
Bastiaan Grijpink, CIO
info@xior.be
T +32 3 257 04 89
Xior Investor Relations
Sandra Aznar
Head of Investor Relations
ir@xior.be
T +32 3 257 04 89
Disclaimer
This press release contains forward-looking information, projections, expectations, opinions and estimates produced by Xior in relation to the expected future performance of Xior and of the market in which it operates ("forward-looking statements"). By nature, forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, that appear justified at the time at which they are made but which may or may not turn out to be accurate, and there is a risk that the forward-looking statements will not be realised. Some events are difficult to predict and may depend on factors outside of Xior's control. In addition, the forward-looking statements are only valid on the date of this press release. Statements in this press release relating to past trends or activities may not be interpreted as an indication that such trends or activities will persist in future. Neither Xior nor its representatives, officers or advisers guarantee that the parameters upon which the forward-looking statements are based are free of errors, nor can they indicate, guarantee or predict whether the expected results set out in such a forward-looking statement will ultimately be achieved. Actual profits, the financial situation and Xior's performance or results may therefore differ substantially from the information projected or implied in forward-looking statements. Xior expressly does not accept any obligations or guarantees as to public updates or reviews of forward-looking statements unless required to do so by law. This press release has been prepared in Dutch and has been translated into English and French. In case of discrepancies between the different versions of this press release, the Dutch version will prevail.
This announcement does not constitute an offer to sell, or a solicitation of offers to purchase or subscribe for, securities in the United States. The securities referred to herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or the laws of any state or other jurisdiction, and may not be offered or sold in the United States of America absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or jurisdiction laws.