Triodos Vastgoedfonds N.V., Triodos Investment Management’s sustainable real estate fund, has published its quarterly report for the second quarter of 2019.
During the second quarter of 2019, the net result of Triodos Vastgoedfonds including the estimated costs to sell1 increased to EUR 2.7 million (H1 2018 EUR 2.3 million). Including the costs to sell, the direct result per share was EUR 0.05 (H1 2018: EUR 0.09) and the indirect result rose to EUR 0.11 per share (H1 2018: EUR 0.05).
The fair value of the investment portfolio, including the estimated costs to sell, amounted to EUR 111.4 million as at 30 June 2019 (31 December 2018: EUR 98.9 million), an increase of EUR 12.5 million. Of this increase, EUR 15.1 million was due to investments including acquisition costs, EUR -5.3 million was related to divestments and EUR 2.7 million was a result of revaluations of the portfolio.
The gross rental income rose from EUR 2.8 million (first half 2018) to EUR 3.9 million (first half 2019). This increase was due to the investments and divestments of the portfolio.
More detailed figures and developments can be found in the full quarterly report.
1) Following the decision made during the Extraordinary General Meeting of 17 December 2018 to end the fund’s activities, the fund’s focus is currently on selling its real estate portfolio. In line with the IFRS accounting principles, all expected costs to be made in the course of 2019 related to selling the assets of Triodos Vastgoedfonds, should already be incorporated in the fund’s financial results.