Qrf Comm. VA Reports Consolidated Earnings Results for the Six Months Ended June 30, 2018; Provides Earnings Guidance for 2018
Qrf Comm. VA reported consolidated earnings results for the six months ended June 30, 2018. For the period, the company reported rental income of EUR 7,845,000 against EUR 7,298,000 a year ago. Net rental income was EUR 7,756,000 against EUR 7,205,000 a year ago. This is attributable mainly to the acquisition of additional properties since 30 June 2016. Operating property result was EUR 7,046,000 against EUR 6,539,000 a year ago. Operating result before result on the portfolio was EUR 6,000,000 against EUR 5,473,000 a year ago. Operating result was EUR 770,000 against EUR 3,995,000 a year ago. Pre-tax result was negative EUR 1,473,000 against positive EUR 2,696,000 a year ago. Net result was negative EUR 1,592,000 against positive EUR 2,491,000 a year ago. Net result attributable to the group shareholders was negative EUR 1,586,000 against positive EUR 2,497,000 a year ago. Diluted net result per group share was negative EUR 0.28 against positive EUR 0.49 a year ago. Cash flow from business activities was EUR 3,754,000 against EUR 1,449,000 a year ago. Acquisitions of intangible and other tangible non-current assets was EUR 5,000 against EUR 22,000 a year ago. EPRA EARNINGS was EUR 4,279,000 against EUR 3,896,000 a year ago.
For 2018, the company expects EPRA earnings of EUR 1.45 - EUR 1.55 per share for 2018.