PRESS RELEASE

REGULATED INFORMATION 9 March 2021 - after trading hours under embargo until 17h45

CARE PROPERTY INVEST

Public limited liability company (société anonyme/naamloze vennootschap), Public Regulated Real Estate Company (Société Immobilière Réglementée (SIR) /

Gereglementeerde Vastgoedvennootschap (GVV)) under Belgian Law

Registered Office: 3 Horstebaan, 2900 Schoten Companies Registration No. 0456.378.070 (LPR Antwerp)

(the 'Company')

PRESS RELEASE ANNUAL RESULTS FINANCIAL YEAR 2020

31 DECEMBER 2020

MILESTONES 2020

  • • Property portfolio has been expanded with a record amount of €250 million

  • • Entry onto the Spanish healthcare real estate market

  • • A capital increase through a contribution in kind of the residential care centres with assisted living apartments 'La Reposée' and 'New Beaugency' located in Mons and Bernissart respectively led to a reinforcement of the equity capital by €33,594,044 in exchange for 1,250,376 new Care Property Invest shares

  • • Successful optional dividend in June led to a reinforcement of equity by €6,970,784 in exchange for 273,091 new shares

  • • A capital increase by means of an accelerated private placement with international institutional investors (accelerated bookbuild offering), which strengthened shareholders' equity by approximately €60 million gross in exchange for the issue of 2,191,821 new shares

  • • Start sustainability reporting

Key figure

FINANCIAL HIGHLIGHTS

31 December 2020

FAIR VALUE PROPERTY PORTFOLIO

MARKET CAPITALISATION

OCCUPANCY RATE

€648,559,915

€822 m

100%

100%

DEBT RATIO

COST OF BORROWED FUNDS

ADJUSTED EPRA EARNINGS

ADJUSTED EPRA EARNINGS PER SHARE

DIVIDEND PER SHARE (PROPOSITION)

31 December 2019

Evolution

=

€23.0 m

46.31%

2.22%

€18.7 m +23%

€0.9937

€0.80

€0.9173 +8%

€0.77 +4%

SHAREHOLDERS

Proposal to distribute a gross dividend of €0.80 per share (€0.32 for coupon 12 and €0.48 for coupon 13) for the full 2020 financial year, i.e. an increase of 3.90% compared to the 2019 financial year. After deduction of the 15% withholding tax, the proposed net dividend amounts to €0.68 per share

(€0.27 for coupon 12 and €0.41 for coupon 13).

The annual general meeting of the Company will be held on 26 May 2021, 11 a.m. (digital only / from the registered office, Horstebaan 3, 2900 Schoten).

Care Property Invest NV Horstebaan 3

2900 Schoten BE 0456 378 070 RPR Antwerpen

Openbare GVV naar Belgisch rechtT +32 3 222 94 94 F +32 3 222 94 95 Einfo@carepropertyinvest.bewww.carepropertyinvest.be

1. Summary of activities during the 2020 financial year

Strategy

Care Property Invest was founded on 30 October 1995. As the first listed property investor in Belgium in 1996, it strongly focused on growing the Company and its property portfolio in 2020.

As a result, ambitions and expectations for the financial year 2020 were sky-high. Care Property Invest was fully committed to realising its targets, making a giant step in terms of reinforcing its portfolio, visibility and naturally also in terms of its results.

Real estate

The Company was able to announce approximately €250 million in additional investments to its portfolio. This, combined with the completion of the current developments and the occurrence of an overall increase in the fair value of its portfolio, resulted in a total fair value of the property portfolio as at 31 December 2020 of approximately €822 million(1).

With its entry onto the Spanish market in 2020, Care Property Invest has continued to work on its geographical distribution. Within Europe, Spain is one of the countries where ageing has the greatest impact. Also in The Netherlands, 8 new projects were acquired in the course of 2020, bringing the total number of projects in this country to 18.

Financial

In 2020, Care Property Invest reached the threshold of approximately €36.2 million in rental income, an increase of approximately 22.8% compared to the previous financial year. As a result of this increase in rental income, the adjusted EPRA earnings increased from €18.7 million for FY 2019 to €23.0 million for FY 2020, an increase of almost 22.8%. Care Property Invest was therefore able to more than meet its targets and realised adjusted EPRA earnings of €0.9937 per share which will lead to the proposal to increase the dividend by 3.9% (from €0.77 per share for the 2019 financial year to € 0.80 per share of the 2020 financial year), and this despite the increase in the number of shares entitled to dividend as a result of the 3 capital increases that took place in 2020.

(1)

(i) The investment properties are included at fair value in the balance sheet in accordance with IAS 40, the finance lease receivables are included at cost in the balance sheet in accordance with IFRS 16.

(ii) The share in % compared to the total property portfolio of the finance lease receivables (IFRS 16) according to the balance sheet values is 28% as at 31 December 2020, the share in % compared to the total property portfolio (IAS 40) according to the balance sheet values is 72% as at 31 December 2020.

(iii) The value of the finance lease receivables included in the balance sheet as at 31 December 2020 amounts to €203,022,336. The fair value of the finance lease receivables amounts to €287,828,166 as at 31 December 2020.

The fair value of the finance lease receivables is a mandatory clarification (IFRS 16)

Improved transparency of financial reporting

In September 2020, Care Property Invest's reporting efforts have been rewarded for the fourth time in a row with an EPRA BPR Gold Award.

Outlook

The Company aims to continue this growth process in 2021, and aims for a further increase of its results, looking at existing and new markets.

For example, the Company expects rental income to increase to at least €43 million by the end of 2021.

An increase in adjusted EPRA earnings to €1.00 per share and an increase in the dividend to be paid from €0.80 per share to a minimum of €0.82 for financial year 2021 are also expected.

Care Property Invest's ambitions for 2021 and beyond are therefore high.

This year, Care Property Invest is celebrating a quarter century of listing on Euronext Brussels and we would like to thank our shareholders once again for their confidence, our customers for their belief in the added value Care Property Invest brings to their project and, of course, our employees for their dynamic commitment to achieving the Company's objectives.

Care Property Invest's ambition is to become the ultimate reference in the health care property market and to realise accelerated growth.

2. Care building in complete confidence

REAL ESTATE STRATEGY

A growing market

Its current strategy for residential healthcare real estate for senior citizens is based on the progressive ageing of the population which, according to the Federal Planning Bureau, will peak by 2070. Now and in the coming decades, this will lead to an increasing demand for healthcare real estate with social added value. A similar trend also applies to The Netherlands and Spain in terms of population ageing figures.

For more details, we refer to the graphs below, which show the demographic evolution in Belgium, The Netherlands and Spain.

The guaranteed demographic evolution in combination with its growth strategy, the implementation of its corporate purpose and the fact that as a RREC it invests for 100% in health care real estate, ensures that its share always provides a stable return for its shareholders, and this at a reduced withholding tax rate of 15% (instead of the general rate of 30%).

Care Property Invest spreads its risks by ensuring a good geographic market distribution of its real estate, diversifying between the operators of its real estate and by creating a good balance between public-private and private partnerships. This was, among other things, also a major motivator for the Company to make its move onto the Dutch healthcare property market in 2018 and also onto the Spanish healthcare property market in 2020.

DEMOGRAPHIC EVOLUTIONBELGIAN POPULATION(1)

EXPECTED GROWTH total Belgian population of +15%

+125% in age category. 85+ +19% in age category 67-84+

DEMOGRAPHIC EVOLUTION DUTCH POPULATION(2)

EXPECTED GROWTH total Dutch population of +7%

+206% in age category 85+ +38% in age category. 67-84+

  • (1) Based on data from the Federal Planning Bureau - Report on demographic projections 2017-2070.

  • (2) Based on the following data source: 'Projections of population intervals; age group, 2018-2060', CBS - 19 December 2017

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Care Property Invest NV published this content on 09 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 March 2021 16:48:02 UTC.