Banimmo: Results of the first half-year of the financial year 2019

    Banimmo: Results of the first half-year of the financial year 2019 

Highlights first half-year 2019

• Preparation of the start of 3 new projects: North Plaza 9 in North district of Brussels, the new activity center of ING in Louvain-La-Neuve and new offices on the ‘The Loop’ site in Ghent
• Stable rental income of € 1,8 million
• The consolidated net result (IFRS) shows a loss of € 3.14 million
• Expected 2019 result: loss of € 3.30 million, taking into account potential divestments
• The value of the property portfolio amounts to € 129.42 million on a balance sheet total of € 140.1 million
• By the conclusion of 2 financings (a credit line and a subordinated loan) with reference shareholder Patronale Life (total € 27.5 million) the company disposes of the necessary means to fund its construction and development projects
• Laurent Calonne was appointed as new CEO in May 2019

Contact

BanimmoBischoffsheimlaan 33BE-1000 BrusselsTel.: [phone] www.banimmo.be

Laurent [e-mail]

Werner Van WalleChairman of the board of [e-mail]

On Banimmo

Banimmo is a listed property developer ‘pur sang’ that focuses on the development of office buildings in Belgium, through the redevelopment of sites with potential and the construction of ‘built-to-suit’ projects for its customers. The current property portfolio comprises ca. 65,000 m2 of buildings and ca. 275,000 m2 of land and building reserves. The company differentiates itself through focusing on sustainability and city centres and their environment.Banimmo is listed on the regulated market of Euronext Brussels (BANI).

Attachment

• Banimmo_HJR_2019_ENG_web_PB