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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Globalworth Real Estate Investments Limited | LSE:GWI | London | Ordinary Share | GG00B979FD04 | ORD NPV |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.11 | -4.38% | 2.40 | 2.42 | 2.60 | 2.46 | 2.40 | 2.46 | 6,138 | 09:38:44 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Real Estate Agents & Mgrs | 242.49M | -54.15M | -0.2148 | -11.17 | 605.17M |
From Apr 2019 to Apr 2024
TIDMGWI
RNS Number : 0521Z
Globalworth Real Estate Inv Ltd
28 August 2018
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.
28 August 2018
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Notice of Interim Results & Preliminary Interim Financial Information
Globalworth announces that it intends to publish its Interim Report and Financial Statements for the six-month period ended 30 June 2018 during the week commencing 17 September 2018. Ahead of this publication, the Company is today providing a preliminary release of its unaudited Consolidated Statement of Comprehensive Income and unaudited Consolidated Statement of Financial Position to 30 June 2018.
In addition, the Company is pleased to report its preliminary EPRA Net Asset Value as at 30 June 2018 to be EUR1,200.6 million or EUR9.06 per share.
For further information visit www.globalworth.com or contact:
Enquiries
Andrew Cox Tel: +44 20 3026 4027
Head of Investor Relations & Corporate Development
Jefferies (Joint Broker) Tel: +44 20 7029 8000
Stuart Klein
Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20 7886 2500
Andrew Potts
Milbourne (Public Relations) Tel: +44 7903 802545
Tim Draper
About Globalworth / Note to Editors:
Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Romania and in Poland, where the Company has a majority shareholding in Globalworth Poland, a pure-play Polish real estate platform listed on the Warsaw Stock Exchange. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by approximately 110 professionals across Romania and Poland, the combined value of its portfolio is currently approximately EUR2 billion. Over 90% of this is in income-producing assets, predominately in the office sector, and leased to some 440 national and multinational corporates from 28 countries and 37 different sectors. In Romania, Globalworth is present in Bucharest, Timisoara and Pitesti, while in Poland its assets span Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice. For more information, please visit www.globalworth.com and follow us on Facebook, Instagram and LinkedIn.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHSED 30 JUNE 2018
Hot Features
Premium
30 June 2018 30 June
(unaudited) 2017
(unaudited)
EUR'000 EUR'000
--------------------------------------------------- ------------- --- -------------
Revenue 78,097 34,938
Operating expenses (26,398) (12,957)
Net operating income 51,699 21,981
---------------------------------------------------- ------------- --- -------------
Administrative expenses (6,456) (3,224)
Acquisition costs (952) (303)
Fair value gain on investment property 38,558 682
Gain on acquisition of subsidiaries 251 2,639
Share based payment expense (97) (3)
Depreciation on other long-term assets (179) (76)
Other operating expenses (1,494) (1,493)
Other operating income 215 5
Foreign exchange loss (883) (229)
---------------------------------------------------- ------------- --- -------------
28,963 (2,002)
--------------------------------------------------- ------------- --- -------------
Profit before net financing cost 80,662 19,979
---------------------------------------------------- ------------- --- -------------
Finance cost (20,505) (27,330)
Finance income 1,425 583
Share of profit / (loss) of joint ventures 717 (23)
Gain from fair value of financial instrument 1,653 -
---------------------------------------------- ---- ------------- --- -------------
Profit / (loss) before tax 63,952 (6,791)
---------------------------------------------------- ------------- --- -------------
Income tax expense (7,573) 195
---------------------------------------------------- ------------- --- -------------
Profit / (loss) for the period 56,379 (6,596)
---------------------------------------------------- ------------- --- -------------
Other comprehensive income - -
---------------------------------------------- ---- ------------- --- -------------
Attributable to: 56,379 (6,596)
---------------------------------------------------- ------------- --- -------------
Equity holders of the Company 49,766 (6,596)
Non - controlling interests 6,613 -
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2018
30 June
31 December
2018 2017
(unaudited) (audited)
EUR'000 EUR'000
---------------------------------------------------- ------------- --------------------
ASSETS
Non-current assets
Investment property 2,088,545 1,792,414
Goodwill 12,349 12,349
Advances for investment property 2,443 3,355
Investments in joint-ventures 38,422 21,939
Equity investments at fair value through
other comprehensive income 8,639 -
Other long-term assets 834 689
Other receivables - 416
Prepayments 1,515 1,578
Available for sale financial assets - 5,897
Financial assets at fair value through
profit or loss 5,921 -
Long-term restricted cash - 2,958
------------------------------------------------------ ------------- --------------------
Non-current assets 2,158,668 1,841,595
------------------------------------------------------ ------------- --------------------
Current assets
Debentures - 18,389
Available for sale financial assets - 4,346
Financial assets at fair value through
profit or loss 5,976 -
Trade and other receivables 29,477 22,419
Guarantees retained by tenants 107 304
Income tax receivable 315 295
Prepayments 6,257 325
Cash and cash equivalents 512,822 273,272
------------------------------------------------------ ------------- --------------------
554,954 319,350
---------------------------------------------------- ------------- --------------------
Total assets 2,713,622 2,160,945
------------------------------------------------------ ------------- --------------------
EQUITY AND LIABILITIES
Equity
Issued share capital 896,354 894,509
Treasury shares (1,088) (270)
Share based payment reserve 1,783 2,240
Retained earnings 191,395 172,405
------------------------------------------------------ ------------- --------------------
Equity attributable to ordinary equity
holders of the parent 1,088,444 1,068,884
Non-controlling interests 219,451 67,572
------------------------------------------------------ ------------- --------------------
Total equity 1,307,895 1,136,456
====================================================== ============= ====================
Non-current liabilities
Interest-bearing loans and borrowings 1,232,376 834,044
Deferred tax liability 106,680 99,574
Guarantees retained from contractors 625 2,616
Deposits from tenants 9,894 8,931
Trade and other payables 1,765 1,509
------------------------------------------------------ ------------- --------------------
1,351,340 946,674
---------------------------------------------------- ------------- --------------------
Current liabilities
Interest-bearing loans and borrowings 11,152 36,360
Guarantees retained from contractors 3,725 1,057
Trade and other payables 34,388 35,635
Other current financial liabilities 2,369 2,638
Deposits from tenants 1,352 1,256
Income tax payable 1,401 869
------------------------------------------------------ ------------- --------------------
54,387 77,815
---------------------------------------------------- ------------- --------------------
Total equity and liabilities 2,713,622 2,160,945
------------------------------------------------------ ------------- --------------------
IMPORTANT NOTICE: This announcement has been prepared for the purposes of complying with the applicable laws and regulations of the United Kingdom and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside of the United Kingdom. This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "targets", "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward looking statements include all matters that are not historical facts and involve predictions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth or strategies and the industry in which it operates. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. Save as required by law or regulation, the Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
DOCBLGDILBDBGII
(END) Dow Jones Newswires
August 28, 2018 13:00 ET (17:00 GMT)
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