Befimmo: Update of valuation at 30 june 2007 of the real-estate
Successful capital increase
* Book value of ¤70.45 per share * Return on shareholders' equity of 16.5% over 12 months * Cash flow for the fiscal year in line with forecasts * Dividend forecast confirmed
At 30 June 2007, the "fair value" of the consolidated portfolio was ¤1 803.7 million. The occupancy rate of the whole portfolio was 95.1% compared to 93.6% one year previously and 94.7% at the start of the fiscal year.
In nine months, since the start of the fiscal year, the value of the portfolio - excluding investments and disposals - grew substantially (over ¤36 million). This increase relates essentially to buildings in the Befimmo portfolio before the acquisition of Fedimmo, the value of which grew over that period from ¤1 078.4 million to ¤1 119.2 million, an increase of 3.3%. The value of the Fedimmo portfolio has remained stable since it was acquired in December 2006.
For any further information, please contact the registered office:
Benoît De Blieck Managing Director Befimmo S.A. Statutory Manager of the Befimmo SCA Sicafi Chaussée de Wavre 1945 1160 Brussels. Tel.: 02/679.38.60 Fax: 02/679.38.66 www.befimmo.be E-mail: email@example.com
 These values are established in accordance with standard IAS 40 which requires investment property to be booked at "fair value". "Fair value" is obtained by deducting from the "investment value" the average costs for transactions recorded over the past three years, corresponding to 2.5% for property worth more than ¤2.5 million and 10% (Flanders) or 12.5% (Wallonia) for property worth less than ¤2.5 million.
The full press release can be downloaded from the following link: