Financial structure

As at 30 Juin 2018, Vastned Retail Belgium has a conservative financial structure allowing it to carry out its activities also in 2018.

The most important characteristics of the financial structure as at 30 Juin 2018 are:

  • Amount of withdrawn financial debts: € 107 million (excluding the market value of financial derivatives).
     
  • 92% of credit lines are long-term financing with an average remaining duration of 4,8 years. 8% of the credit lines are short-term financing of which 100% are credit facilities with an unlimited duration (€ 10 million).

 

Proportion of long-term and short term credit facilities

Proportion of long-term and short term credit facilities

 

 

  • Expiry dates of credit facilities between 2022 and 2024.
  • Spread of credit facilities over 4 European financial institutions.
  • € 17,9 million of available non-withdrawn credit lines to cover the fluctuations of cash needs and for financing future investments.
  • 64% of the credit lines have a fixed interest rate or are fixed by means of interest rate swaps and 36% have a variable interest rate.
  • Fixed interest rates are set for a remaining period of 5 years on average.
  • Average interest rate for the first semester of 2018: 1,72% including bank margins.
  • Value of financial derivatives: € 1,9 million negative.
  • Limited debt ratio of 28,81% (27% as at 31 December 2017) (legal maximum: 65%)
  • There were no changes made to the existing agreements contracted, and the RREC fulfilled these agreements as at 30 Juin 2018.

 

Due dates calendar of credit lines

Due dates calendar of credit lines