Orava Asuntorahasto Oyj
FIGURES ANNOUNCED IN THE FINANCIAL STATEMENT BULLETIN SPECIFIED FURTHER IN THE FINANCIAL STATEMENTS
Orava Asuinkiinteistörahasto Oyj 05.03.2015 21:30 Dissemination of a Adhoc News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Orava Residential Real Estate Investment Trust plc STOCK EXCHANGE RELEASE 5 MARCH 2015 AT 10.30 p.m. FIGURES ANNOUNCED IN THE FINANCIAL STATEMENT BULLETIN SPECIFIED FURTHER IN THE FINANCIAL STATEMENTS The figures published by Orava Residential Real Estate Investment Trust plc (Orava Residential REIT) in its financial statements bulletin on 11 February 2015 were specified further in the financial statements published on 26 February 2015. This was mainly due to the further specification of the reported shares in company loans allocated to housing company shares owned by the company. The total impact of the changes was approximately EUR 200,000, and it was reflected in the income statement, statement of financial position and some financial key figures. The statement of comprehensive income, statement of financial position and financial key figures in accordance with the consolidated financial statements are presented below. Consolidated statement of comprehensive income 1 January -31 December 2014 (figures published in the financial statement bulletin on 11 February 2015 in brackets) EUR 1,000 1 Jan - 31 Dec 1 Jan - 31 Dec 2014 2013 Revenue Income from ordinary operations 6,532 (6,532) 3,153 Gains frm disposals and changes in the fair value of apartments 8,794 (9,050) 6,529 Total revenue 15,327 (15,583) 9,682 Maintenance expenses -2,831 (-2,836) -1,452 Expenses from rental operations -350 (-349) -97 Administrative expenses -1,379 (-1,379) -696 Other operating income and expenses -862 (-862) 2 Total expenses -5,422 (-5,426) -2,243 Operating Profit 9,905 (10,157) 7,439 Finance expenses (net) -1,361 (-1,401) -639 Profit before taxes 8,545 (8,757) 6,801 Direct taxes -94 (-94) -48 Profit/loss for the period 8,451 (8,663) 6,753 Profit/loss for the period attributable to the owners of the parent company 8,451 (8,663) 6,753 Earnings per share calculated from the profit attributable to the owners of the parent company Earnings per share, EUR 1.83 (1.87) 3.19 Other comprehensive income items Items that may in the future be reclassified to profit or loss Derivatives - interest rate swaps -270 (-270) 183 Items that are not reclassified to profit or loss 0 (0) 0 Comprehensive profit/loss for the period 8,181 (8,393) 6,936 Comprehensive profit/loss for the period attributable to the owners of the parent company 8,181 (8,393) 6,936 non-controlling interests 0 (0) 0 Consolidated statement of financial position 31 December 2014 (figures published in the financial statement bulletin on 11 February 2015 in brackets) EUR 1,000 31 Dec 2014 31 Dec 2013 ASSETS Non-current assets Fair value of investment properties 130,668 (130,556) 79,190 Current assets Trade and other receivables 4,070 (4,214) 203 Cash and cash equivalents 1,990 (1,990) 9,134 6,059 (6,203) 9,336 TOTAL ASSETS 136,728 (136,760) 88,526 Equity attributable to the owners of the parent company Share capital 50,337 (50,337) 43,144 Share issue 7,526 (7,526) 0 Share premium account 2,260 (2,260) 0 Hedge reserve -493 (-493) -224 Retained earnings 1,780 (1,819) 106 Profit for the period 8,451 (8,663) 6,753 Total equity 69,860 (70,113) 49,780 Liabilities Non-current liabilities Interest bearing liabilities 58,059 (57,697) 35,592 Other non-current liabilities 478 (478) 205 Total non-current liabilities 58,538 (58,176) 35,797 Current liabilities Interest-bearing liabilities, borrowings 1,931 (1,664) 1,730 Trade payables and other current liabilities 5,906 (6,314) 995 Derivaties 493 (493) 224 Total current liabilities 8,330 (8,471) 2,949 Total liabilities 66,868 (66,647) 38,746 TOTAL EQUITY AND LIABILITIES 136,728 (136,760) 88,526 Financial indicators for the Group (figures published in the financial statement bulletin on 11 February 2015 in brackets) 1 Jan - 31 Dec 2014 1 Jan - 31 Dec 2013 Revenue, EUR 1,000 15,327 (15,583) 9,682 Operating profit, EUR 1,000 9,905 (10,157) 7,439 Financial result for the period, EUR 1,000 8,451 (8,663) 6,753 Comprehensive profit for the perid, EUR 1,000 8,181 (8,393) 6,936 Earnings per share, EUR 1.83 (1.87) 3.19 Maximum divideds to be paid during the financial period per share, EUR 1.20 (1.20) 1.12 Dividends/Comprehensive profit ratio, % 87.8% (85.6%) 69.6% Return on equity, % p.a.(ROE) 14.7% (15.1%) 33.4% Total return per share, % p.a. 13.9% (14.3%) 14.9% Weighted average number of shares adjusted for share issues 4,622,183 (4,913,570) 2,117,600 31 Dec 2014 31 Dec 2013 Balance sheet total, EUR 1, 136,728 (136,760) 88,526 Equity/assets ratio, % 51.1% (51.3%) 56.3% Loan to Value ratio, % 43.9% (43.5%) 42.2% Net asset value per share, EUR, NAV 13.52 (13.57) 11.54 Adjusted net asset per share, EUR, NAV 12.02 (12.07) - Net gearing, % 83.0% (81.8%) 56.6% Number of shares 31 Dec 5,206,123 (5,206,123) 4,314,394 Adjuste number of shares 31 Dec 5,810,611 (5,810,611) - Market capitalisation 31 Dec, EUR 1,000 53,362 (53,362) 44,345 1 Jan - 31 Dec 2014 1 Jan - 31 Dec 2013 Economic occupancy rate, %, (EUR) 89.4% (89.4%) 93.8% Operational occupancy rate, %, (m2) 88.7% (-) 92.5% Tenant turnover/month 2.1% (2.1%) 2.3% Gross rental yield for fair value, % 6.7% (6.7%) 8.0% Net rental yield for fair value, % 4.0% (4.0%) 4.5% EPRA Earnings, EUR 1,000 1,972 (1,968) 908 EPRA Earnings per share, EUR 0.43 (0.40) 0.43 EPRA Net Asset Value, EUR 1,000 70,353 (70,606) 50,004 EPRA Net Asset Value per share, EUR 12.11 (12.15) 11.59 EPRA Net Initial Yield (NIY), % 4.0% (4.0%) 3.9% EPRA Vacancy Rate 10.6% (10.6%) 6.2% The consolidated financial statements are available in their entirety in the 2014 annual report included as an appendix. Orava Residential Real Estate Investment Trust plc Pekka Peiponen CEO Additional information Pekka Peiponen, CEO, tel. +358 10 420 3104 Veli Matti Salmenkylä, CFO, tel. +358 10 420 3102 News Source: NASDAQ OMX 05.03.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Orava Asuinkiinteistörahasto Oyj Finland Phone: Fax: E-mail: Internet: ISIN: FI4000068614 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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