fonciere des murs (FMU) Snapshot

Fonciere Des Murs announced that they will report Q1, 2013 sales/trading statement results on Apr 11, 2013

Fonciere Des Murs, Annual General Meeting, Apr 11, 2013., at 10:00 Central European Standard Time. Location: Eurosites George V 28 avenue.

Fonciere Des Murs reported consolidated earnings results for the year ended December 31, 2012. Net income was €99.7 million against €141.3 million last year. Rental income was €184.8 million against €203.6 million last year. Rental income after minority interests was €182.5 million. Rental income decreased by €18.8 million in absolute value terms, which primarily reflects the impact of the 2011 and 2012 disposals, particularly in hotels. On a like-for-like basis, rental income increased by 0.5% for the year, despite the depressed economic environment. Net recurring EPRA income amounted to €112.8 million, down 6.6% from €120.8 million at December 31, 2011. This decrease reflects the impact of the arbitrage and deleveraging strategy (asset sales amounting to €750 million since the beginning of 2011). On a per share basis, net recurring EPRA income amounted to €1.82 against €2.14 last year. Net rental income was €179.4 million. The company reported operating income from continuing operations of €172.2 million and recurring operating income from continuing operations of €174.0 million. Operating income was €215.4 million and recurring operating income was €174.0 million. Net income before tax was €103.9 million and recurring net income before tax was €113.0 million. Net debt was €1,452 million. The company has established the objective of stabilizing net recurring income in 2013. The company will propose during the general meeting a dividend for 2012 of €1.50 per share.