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    PSDL   JE00B248KJ21

PHOENIX SPREE DEUTSCHLAND LIMITED

(PSDL)
  Report
Real-time Estimate Cboe Europe  -  03:30:07 2023-05-30 am EDT
200.25 GBX   -0.87%
03/29Phoenix Spree Deutschland suspends dividend as swings to loss
AN
03/29Phoenix Spree reports fall in assets
AN
03/29Earnings Flash (PSDL.L) PHOENIX SPREE DEUTSCHLAND Reports FY22 Revenue EUR25.9M
MT
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Phoenix Spree Deutschland : Investment Property Valuation

07/19/2017 | 02:13am EDT

19 July 2017

Phoenix Spree Deutschland

Investment Property Valuation

Phoenix Spree Deutschland (LSE: PSDL.LN), the UK listed investment company specialising in German residential real estate, announces the interim valuation for the portfolio of investment properties held by the Company and its subsidiaries (the 'Portfolio').

The Portfolio was valued at €519.7 million (31 December 2016: €423.8 million) by Jones Lang LaSalle GmbH, the Company's external valuers, as at 30 June 2017. This represents a headline increase of 22.6 per cent over the six-month period and equates to a 17.4 per cent increase in value per square metre to €2,307 (31 December 2016: €1,965).

On a like-for-like basis, after adjusting for the impact of acquisitions net of disposals, the Portfolio valuation increased by 15.6 per cent in the six months ended 30 June 2017. This increase in valuation reflects a combination of yield compression and growth in Portfolio rents.

By geographic segment, Berlin posted the largest like-for-like increase at 18.2 per cent over the six-month period. In line with the Company's investment strategy, the Portfolio continues to focus on traditional, individual multi-family properties located in Berlin.

The Company expects to report its interim results for the six-month period ended 30 June 2017 before the end of September 2017.

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

For further information please contact:

PMM Partners (Property Advisor)

Mike Hilton +44 (0)20 3937 8760

Paul Ruddle
Mathew Northover
Stuart Young

Liberum Capital Limited (Corporate Broker)

Richard Crawley +44 (0)20 3100 2222

Christopher Britton

Bell Pottinger (Financial PR)

Elizabeth Snow +44 (0)20 3772 2500

Phoenix Spree Deutschland Ltd. published this content on 19 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 July 2017 06:13:06 UTC.


ę Publicnow 2017
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Financials
Sales 2023 28,2 M 30,2 M 30,2 M
Net income 2023 1,40 M 1,50 M 1,50 M
Net cash 2023 304 M 325 M 325 M
P/E ratio 2023 145x
Yield 2023 3,22%
Capitalization 214 M 229 M 229 M
EV / Sales 2023 -3,21x
EV / Sales 2024
Nbr of Employees -
Free-Float 87,0%
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Number of Analysts 0
Last Close Price 2,02
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Managers and Directors
Robert Charles Anthony Hingley Non-Executive Chairman
Jonathan Hugo Eccles Thompson Independent Non-Executive Director
Monique O'Keefe Senior Independent Non-Executive Director
Antonia Burgess Independent Non-Executive Director
Isabel Ann Robins Independent Non-Executive Director
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