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Profile’s Stock Exchange Handbook: 2020 – Issue 2 JSE – EPP
CAPITAL STRUCTURE AUTHORISED ISSUED
EPP N.V. EPP Ords of EUR 0.81 ea 2 572 645 659 907 946 792
EPP
DISTRIBUTIONS [EURc]
Ords of EUR 0.81 ea Ldt Pay Amt
Final No 7 TBC TBC 5.82
Interim No 6 1 Oct 19 7 Oct 19 5.80
Final No 5 2 Apr 19 8 Apr 19 5.78
Interim No 4 2 Oct 18 8 Oct 18 5.82
LIQUIDITY: Mar20 Ave 3m shares p.w., R56.1m(16.8% p.a.)
J863 40 Week MA EPP
ISIN: NL0011983374 SHORT: EPP CODE: EPP
REG NO: 64965945 FOUNDED: 2016 LISTED: 2016 2822
2397
NATURE OF BUSINESS:
EPPisarealestateinvestmentcompanyontheJSEandLuxSEand 1973
is one of the leading owners of retail space in Poland. Its quality
1549
retail portfolio is complemented by high quality offices located in
regional across Poland. The company currently operates a 1124
portfolio of 25 retail shopping centres and 6 offices located across
700
the majority of the regional and major cities in Poland. EPP’s goal 2017 | 2018 | 2019 |
is to deliver consistent returns to its shareholders.
Recent Announcements
SECTOR: Fins—Financial Srvcs—Real Estate—Hldgs&Development Monday, 23 March2020: Shareholders are referred to the announce-
MAJOR ORDINARY SHAREHOLDERS as at 31 Dec 2019 mentreleasedonSENSandpublished ontheLuxembourgStock
Redefine Properties Ltd. 45.44%
Tensai Investments Pty) Ltd. 7.68% Exchange (LuxSE) website on 16 March 2020 in response to the
Government Employees Pension Fund 6.00% impact of the COVID-19 pandemic on EPP’s Polish property
FINANCIAL STATISTICS portfolio.
(Amts in EUR’000) Dec 19 Dec 18 Dec 17 Dec 16 In response to the current situation and in order to support the
Final Final Final Final(rst) Polish economy, the Polish Government announced the intro-
NetRent/InvInc 148 100 142 674 103 255 67 302 duction of a financial aid package of approximately EUR 47
Int Recd 6 229 4 865 7 419 7 339
Profit Before Tax 87 780 137 592 160 905 91 752 billion. The package includes employees’ protection support,
Tax 21 615 13 427 32 557 19 424 liquidity support for companies, financial support for the
Attrib Inc 66 165 124 165 128 348 72 328 healthcare system, measures to protect the functioning of the
TotCompIncLoss 76 047 118 356 128 498 71 894 financial system, including protecting deposits and increasing
Hline Erngs-CO 61 120 87 454 46 053 32 045 the liquidity of financial institutions and increased spend on
Ord UntHs Int 1 087 372 1 022 688 833 821 607 438 public investments and infrastructure. The specifics of the aid
TotStockHldInt 1 087 372 1 022 688 833 821 607 438
Investments 2 492 501 2 340 435 1 771 581 1 413 717 package are still being established by the government. EPP
Tot Curr Ass 105 661 111 355 154 569 85 564 continues to actively engage with trade associations and govern-
Total Ass 2 606 715 2 471 715 1 952 114 1 509 398 ment to ensure the financial aid covers the needs of the retail
Tot Curr Liab 75 506 61 815 176 583 83 502 sectorinthatitisimmediatelyavailable,especiallytotenants.
PER SHARE STATISTICS (cents per share) EPP’s lenders have confirmed their continued financial support
EPLU (ZARc) 121.33 240.39 301.02 320.72 of the Company. EPP continues engaging proactively with its
HEPLU-C (ZARc) 111.94 168.90 108.74 141.64 tenants, lenders, contractors and other business partners to
Pct chng p.a. - 33.7 55.3 - 23.2 -
DPLU (ZARc) 202.30 194.51 163.20 42.71 agree on mutually acceptable solutions during this challenging
Pct chng p.a. 4.0 19.2 282.1 - period. Additionally, the Company has immediately imple-
NAV (ZARc) 2 067.20 2 223.45 1 961.52 1 675.04 mentedstrict cost-cuttingmeasures andfurther optimised oper-
Price Prd End 1 715 1 875 1 700 1 950 ations by deferring all non-essential capital expenditure and
Price High 2 100 2 183 2 199 2 450 minimising operational costs.
Price Low 1 631 1 382 1 315 1 900 Shareholders are also referred to the dividend declaration an-
RATIOS
RetOnSH Funds 5.99 12.14 15.39 11.91 nouncement released on SENS and published on the LuxSE
RetOnTotAss 6.05 6.93 5.68 5.00 website on 12 March 2020, wherein shareholders were advised
Oper Pft Mgn 96.39 108.76 73.09 79.26 that the board of directors of EPP (Board) had declared a cash
Debt:Equity 1.26 1.29 1.16 1.34 dividend of 5.82 euro cents per share for the six months ended
OperRetOnInv 5.94 6.10 6.21 4.86 31 December 2019 (dividend).
OpInc:Turnover 90.51 90.58 67.73 69.34
Giventheuncertaintyastothedurationandextentoftheimpact
NUMBER OF EMPLOYEES: 220 that COVID-19 is having and may continue to have on commer-
DIRECTORS: Dean H (CEO),
Baginski J (CFO), Weisz R (Chair, ind ne), cial activity in Poland and, in particular on EPP, and pending
Belka M (ind ne), Dyjas M (ne), certainty on the details of the Polish Government’s support
Ellerine D (ind ne), Steer A (ind ne), plans and conclusion of an arrangement with lenders, the Board
TempletonJWA(ne), Prinsloo P (ne), considers it prudent and in the best interests of the Company
de Groot T (ind ne) and all its stakeholders to preserve the Company’s financial
EMAIL: HQoffice@epp-poland.com liquidity. As such the Board has resolved to postpone the
WEBSITE: www.epp-poland.com Scan the QR code to payment of the dividend to 29 June 2020, provided that the
TELEPHONE: 004822-221-7110 visit our website
FAX: 004822-430-0301 decision remains subject to further review based on a continued
COMPANY SECRETARY: Rafal Kwiatkowski assessment of all relevant considerations. The Board believes
TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd. that the postponement of the dividend, amounting to EUR 53
SPONSOR: Java Capital millionandEPP’s undrawnfacilitiesofEUR95million,position
AUDITORS: Ernst & Young Inc., Ernst & Young LLP EPP to remain well capitalised through these uncertain times.
BANKERS: Cooperative RaboBank U.A. The Board will continue to monitor the impact of COVID-19 on
the Company’s operations and its financial position and will in
CALENDAR Expected Status due course communicate updates as events unfold.
Annual General Meeting Jun 2020 Unconfirmed
Next Interim Results Sep 2020 Unconfirmed
Next Final Results Mar 2021 Unconfirmed
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