Interim Management Statement -2-
17 Novembre 2011 - 8:01AM
UK Regulatory
Residence(3) Residential 14,900 - - - 11 5.2 31-May-12
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May House Office - - - 3.5 0.9 31-Dec-12
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Kolben Mixed - - - 34.3 5.8 30-Sep-12
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Ritka Residential - - - 7.0 5.1 31-Mar-12
Total Prague 33,800 2.7 2.7 91% 96 36
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Bucharest
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Mogosaia Residential - - - 10.6 4.6 31-Dec-11
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Sunset Res. Residential - - - 16 16.5 31-Dec-11
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Pipera 3H Mixed - - - 5 - -
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Pipera 4H Mixed - - - 13.4 - -
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Airport city Mixed - - - 10.0 - -
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Vlad Tepes Office - - - 3.5 - -
Total Bucharest - - - 59 21 -
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Poland
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K.B.P. Mixed - - - 27.5
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Gdansk Residential - - - 13.1
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Jerusalemska Office - - - 12.9
Total Poland - - - 54 0
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Total Group 201,150 17.8 18.0 72% 574 226
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Minority share (10)
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Total Group
without minority
shares 564
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(1) Hold project's loan is in the process of being prolonged,
following loan expiry on 30 September 2011.
(2) Own offices are included in the annualised rental income of
BC 30 and Meteor, contributing to a total annualised gross rent of
EUR0.2 million p.a.
(3) The valuation of Viva is at 31 December 2010 when there were
108 apartments not yet handed over. As at 17 November, there are 91
apartments held for sale following further sales.
(4) The valuations are based on the appraisal reports conducted
by GVA Robertson in Budapest, Prague, and Poland, and by King
Sturge in Romania as at 31 December 2010. The values are based on
the residual development approach for the future development sites
with a 5% developers profit assumption (except for Romania where
the market comparable approach was used) and discounted cash flow
method for the yielding properties.
Summary for Completed Expected Annualized Occupancy rate Valuation
yielding rental Area Gross Rent
properties
(EUR million (%) as at (EUR million)
p.a.) as at
(sq. m) 17-Nov-11 30-Jun-11 17-Nov-11 30-Jun-11 31-Dec-10
------------------ ---------- ---------- ---------- ---------- ---------- --------------
Budapest office 94,800 11.3 11.5 72% 74% 166.1
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Budapest retail 40,350 2.9 2.9 69% 57% 60.0
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Budapest storage 19,600 0.9 0.9 61% 57% 22.7
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Prague office 18,900 2.7 2.7 91% 91% 43.3
Total yielding 173,650 17.8 18.0 72% 70% 292.1
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Residential activities
Since 30 June 2011, the number of completed handovers to buyers
of Viva Residence apartments is seven.
Hotel activities
Unaudited results for the three months of operations ended 30
September 2011 show a EUR0.3 million segment profit (EUR0.2 million
loss for same period in 2010). The 2011 period's result has been
influenced by a EUR0.3 million one-off payment received from
Marriott under the terms of the management agreement.
For further information, please contact:
ABLON Group Limited Kristof Skwarek
Tel. +36 1 225 6600
Religare Capital Markets
James Pinner / Derek Crowhurst (Financial Adviser)
Tel. +44 (0)20 7444 0800
Daniel Briggs (Joint Corporate Broker)
Tel. +44 (0)20 7444 0500
ING Wholesale Banking
(Joint Corporate Broker)
Nathalie Bachich de Recina
Tel. +44 (0)20 7767 8362
NOTES TO EDITORS
About ABLON Group Limited
Founded in 1993 in Budapest (Hungary), ABLON and its
subsidiaries (together the "ABLON Group") has properties at 34
locations, of which there are 15 completed projects, one project in
the construction phase and 23 development projects in Budapest,
Prague, Bucharest, Warsaw and Gdansk. Its portfolio comprises a
diversified mix of office, residential, retail, logistics and hotel
developments valued at EUR574 million by external independent
appraisers (GVA and King Sturge), as at 31 December 2010. The ABLON
Group had, as at 31 December 2010, 201,150 square metres of
existing and income generating office, residential, hotel, retail
and logistics assets (at 15 locations) in Budapest and Prague, with
a significant development land bank comprising a further 1,234,800
square metres (at 24 locations) in Budapest, Prague, Bucharest,
Warsaw and Gdansk. ABLON's shares are traded on the Main Market of
the London Stock Exchange under the ticker 'ABL'.
This information is provided by RNS
The company news service from the London Stock Exchange
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