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Number of ordinary shares 323,030,000
Total Equity (€ thousand)
2,926,431
GAV (€ thousand)
6,052,665
Net Debt (€ thousand)
3,013,436
Net Debt / GAV
49.8%
Capital structure key data
Key aspects of the commercial portfolio
(1)
Commercial portfolio: assets avaialable for lease including rented residential. Portfolio under development includes advanced
payments for forward purchases
(2)
In accordance with Savills and CBRE appraisals as of 31 December 2015
(3)
Gross annualized rents have been calculated as passing rent as of 31 December multiplied by 12
(4)
Net annualized rents have been calculated as net rent as of 31 December multiplied by 12
(5)
Calculated as gross annualized rents divided by GAV of the commercial portfolio
(6)
Calculated as “topped-up” annualized rents divided by GAV of the commercial portfolio
(7)
Calculated as net annualized rent divided by GAV of the commercial portfolio
(8)
Weighted unexpired lease term, calculated as the number of years of unexpired lease term, as from 31 December 2015,
until the first break option of the lease contracts, weighted by the gross rent of each individual lease contract
(€ thousand)
31/12/15
GAV of the commercial portfolio
(1) (2)
5,731,443
GAV of the portfolio under development
(1) (2)
50,524
GAV non-core land
(2)
132,635
GAV equity method stakes
(2)
138,064
Total GAV
6,052,665
Gross annualized rents 2015
301,667
"Topped-up" annualized rents 2015
287,184
Net annualized rents 2015
284,329
EPRA gross yield
(5)
5.3%
EPRA topped-up yield
(6)
5.0%
EPRA net initial yield
(7)
5.0%
Stock G.L.A. (sqm)
1,865,487
Occupancy rate
94.6%
WAULT by rents (years)
(8)
9.4
Development G.L.A. (m
2
)
223,024
EPRA net asset value ("EPRA NAV")
3,181,246
EPRA NAV per share
9.85
Adjusted EPRA NAV (ex-goodwill)
2,981,547
Adjusted EPRA NAV per share
9.23