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EPP achieves record results for 2018

11.03.2019 by Marketing Concepts

Poland’s leading retail landlord, EPP, today announced record results for its financial year ended 31 December 2018. The JSE-listed company reported distributable earnings of EUR96m, representing a 26% increase from the prior year. The company also announced a dividend of EUR11.60 cents, up 6.7% from 2017. EPP’s total assets of EUR2.5bn increased by 27% during the year.

EPP is the largest owner of retail property by gross lettable area in Poland. The company introduced several new properties to its portfolio during 2018, adding 54% to its total space, which is now at 684,000m2 with vacancies of less than 1%.

“EPP has experienced three consecutive years of growth. We currently have 100 million people visiting our shopping centres each year, and we look forward to watching that number grow even further in 2019,” said EPP CEO, Hadley Dean. “Our first major project for 2019 will be the opening of Galeria Mlociny, our flagship development in Warsaw.”

Galeria Mlociny will add 84,400m2 of quality retail to the EPP portfolio. It is strategically located in the affluent northern part of Warsaw on the metro line with 24 million passengers annually. The shopping centre is located next to a park-and-ride facility for more than a thousand cars and a hub for buses and trams.

“This property is beautifully designed with eight-metre-high glass facades and a unique food and beverage offering that will really make it stand out in Warsaw,” said Dean. “Mlociny will be the crown jewel of our portfolio and, from a financial standpoint, the project is already a success, having realised EUR100m in value,” Dean said.

/ENDS

EPP is the largest owner of retail real estate in Poland. It operates like a REIT, with a current portfolio of 19 retail properties, six office buildings and two development sites in Warsaw, with one currently under construction, offering a total of over 835,000 m2 in Poland’s 20 biggest cities.

EPP is committed to providing the best possible rates of return as well as great shopping experiences. EPP is listed on the stock exchanges in Johannesburg (JSE) and Luxembourg (Euro MTF). For more information please visit www.EPP-poland.com

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