Wereldhave nv (PK) (USOTC:WRDEF)
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Real estate company Wereldhave N.V.(WHA.AE) Tuesday said it swung to a net loss in the first quarter of 2009, hit by a sharply decreased occupancy rate and write-downs on real estate, and gave no outlook for the rest of the year.

It reported a net loss of EUR1.5 million, or net loss per share of EUR0.16, after a net profit of EUR38.2, or net profit per share of EUR1.73, a year ago.

Direct operational result for the quarter amounted to EUR28.1 million from EUR27.4 million in the first quarter of 2008. Analysts had predicted an average direct result of EUR25.8 million.

The indirect loss, including property revaluations and results on disposals, was EUR29.6 million from an indirect profit of EUR10.8 million a year earlier.

The occupancy rate decreased in the first quarter from 2009 to 89.6% from 94.7% end-2008, mainly due to vacancies at two office buildings in Paris and Washington DC.

Wereldshave's investment portfolio amounted to EUR2,657.6 million from EUR 2,646 million in the first quarter of 2008. Wereldhave shares closed Monday at EUR55.59. In the year to date, they have lost 11.75%.

Company Web site: www.wereldhave.com

-By Bart Koster; Dow Jones Newswires; +31 20 571 5201; bart.koster@dowjones.com