Waalre (pta036/11.05.2022/15:31) - NAVSTONE SE, quoted in the m:access segment of the Munich stock exchange (ISIN NL0009538008 / WKN A1CUJD) reports about current developments in Q1, 2022 and provides guidance for the fiscal year 2022.
The total value of the real estate portfolio at year end 2021 was approximately EUR 6.5 million and was fully rented. In addition to the existing portfolio, reservations for five additional properties with a total value of EUR 6.9 million were made at the end of the first quarter 2022. A first property was successfully acquired in May 2022, bringing the value of the property portfolio to around EUR 7.8 million. The completion of the acquisition of the other properties is expected in the coming months after successful due diligence. In total, this would increase the portfolio to around EUR 13.4 million and the annualized rental income to over EUR 1.1 million. The company has also invested EUR 2.5 million in two real estate projects in Germany with a term of up to 12 months.
The management has set itself the goal of fully investing the company's equity in the real estate market by the end of the 2022 financial year. The company is currently in evaluation talks with banks regarding the refinancing of the real estate portfolio in Dublin. In the event of a successful refinancing, the management aims to build up the property portfolio to around 20 million by the end of 2022 and around EUR 30 million by the end of the 2023.
Depending on the capital markets environment, the management expects a result of more than € 1.0 million for the 2022 financial year. The dividend of EUR 0.10 per share will therefore be earned operationally both in 2022 and in subsequent years. The net asset value per share at the end of the first quarter of 2022 was approximately EUR 4.00 per share. Please note that the above numbers are preliminary and unaudited.
Our website www.navstone.eu has been updated to include the "Irish Property Research" section under the Company heading. Current information on the Dublin property market is published here.
Please contact our investor relations team directly for any further questions:
t.: +49 89-30659216