Press releases

The result after tax in the first half of 2019 amounted to € 195,000. The result after tax disregarding real estate and derivative valuation adjustments amounted to € 605,000 in the first half of 2019, against € 588,000 in the same period last year. The operating result in the first half year amounted to € 1.1 million. For the whole of 2019, management maintains the previously-stated forecast of an operating result of € 2.4 million.

Net rental income increased by 20.1% in the second quarter compared to the first quarter, from € 1.09 million to € 1.32 million. The occupancy rate of the portfolio amounted to 86.9% at the end of the second quarter. The loan-to-value ratio increased to 51.3% at the end of the first half year, compared to 50.5% at the end of 2018.

The net asset value of the Arcona Property Fund based on EPRA NNNAV amounted to € 13.30 per share on 30 June 2019. The decrease is mainly due to a tax latency effect related to the planned sale of buildings in Kosice. Without putting these buildings up for sale, the EPRA NNNAV would have amounted to € 13.49 per share. The EPRA NNNAV for dividend payments amounted to EUR 14.17 per share on 30 June 2019, against € 14.29 per share on 31 December 2018.

Based on the results for the first half of 2019, Arcona Property Fund intends to pay an interim dividend of € 0.10 per share. The final decision will be taken in the course of September 2019 and will be announced in a press release.

The 2019 semi-annual report of Arcona Property Fund can be found on the website www.arconapropertyfund.nl.