Immobel Announces Management Changes
Aug 26 15
Immobel announced that in order to accelerate the company's development, Board of Directors considered a number of scenarios for bringing Allfin and IMMOBEL closer together, including a merger between the two entities. It was decided by mutual consent that Gaëtan Piret, in his capacity as representative of GAËTAN PIRET SPRL, will tender his resignation to the Board by December 15, 2015 at the latest. His successor is to be appointed at a next Board of Directors Meeting. In the interim, Gaëtan Piret will ensure handover of the files in collaboration with his successor. Having strengthened the Belgian component of IMMOBEL's shareholder composition and ensuring its development for the past eight years as Chairman of the Board of Directors, Count Buysse has tendered his resignation as Chairman and Director, which was to expire in 2016. The company's Board of Directors took note of this decision and offered the Chairmanship of the Board to Marnix Galle, Director at IMMOBEL since 2014. Count Buysse's decision is to take effect on August 26. Count Buysse will carry the title of Honorary Chairman.
IMMOBEL Announces Consolidated Preliminary Earnings Results for the Full Year Ended December 31, 2014
Mar 27 15
IMMOBEL announced consolidated preliminary earnings results for the full year ended December 31, 2014. For the year, the company reported turnover of EUR 31.61 million against EUR 27.85 million a year ago, a sharp rise due to amongst others to the results of the offices sector. Operating profit was EUR 27.95 million against EUR 7.99 million a year ago. Profit before taxes was EUR 20.65 million against EUR 1.08 million a year ago. Profit from continuing operations was EUR 20.04 million against EUR 1.47 million a year ago. Profit was EUR 20.04 million against EUR 1.47 million a year ago. Net cash flow from operating activities was EUR 22.38 million against net cash flow used in operations of EUR 0.18 million a year ago. Basic earnings per share were EUR 4.86 against EUR 0.36 a year ago. Before application of IFRS11, the turnover has reached EUR 173.05 million against EUR 53.85 million a year ago. Return on average equity of 10.5%.
Immobel Announces Consolidated Earnings Results for the Six Months Ended June 30, 2014; Announces Interim Dividend, Payable on September 4, 2014
Aug 28 14
Immobel announced consolidated earnings results for the six months ended June 30, 2014. For the period, the company reported operating income of EUR 21,890,000 against EUR 17,813,000 a year ago. Operating result was EUR 26,087,000 against EUR 3,022,000 a year ago. Result from continuing operating before taxes was EUR 22,387,000 against EUR 168,000 a year ago. Result from continuing operations was EUR 22,303,000 against EUR 120,000 a year ago. Result of the year was EUR 22,303,000 against EUR 120,000 a year ago. Net income per share basic and diluted was EUR 5.41 against EUR 0.03 a year ago. Cash from operating activities were EUR 10,042,000 against cash used in operating activities of EUR 38,694,000 for the same period a year ago. Acquisitions of intangible, tangible and other non-current assets were EUR 60,000 against EUR 48,000 for the same period a year ago. Turnover was EUR 15,768,000 against EUR 11,565,000 for the same period a year ago. Net debt as on June 30, 2014 was EUR 166,662,000.
Taking into account the achievements of the first half year, as well as the outlook for the results for the whole of 2014, the Board of Directors has decided to distribute an interim dividend for 2014 of EUR 1.60 gross per share, or a net sum of EUR 1.20, on submission of coupon n°25, payable as of September 4, 2014. Based on the full year results a final dividend will be proposed to the Annual Shareholders Meeting of May 2015, in line with the company's dividend policy, aiming at a pay-out of maximum 50% of profits. The ex-date is September 1, 2014. Record data is September 3, 2014 and payment date is September 4, 2014.