Corio's H1 2012 direct result increased by 1.8%

* Net rental income up 4.3% at EUR 204.4 m (EUR 195.9 m). * Like-for-like net rental growth retail portfolio: 0.8% (3.0%). * Footfall and turnover stable on a like-for-like basis. * Positive reletting and renewals: 3.7% up. * Financial occupancy rate for the retail portfolio increased: 96.6% (95.9%). * Net average interest % in Q2 2012 down to 3.9% (Q1 2012: 4.1%). * Net direct financing expense up EUR 2.4 m to EUR 53.2 m (EUR 50.8 m). * Direct result up 1...

• Net rental income up 4.3% at EUR 204.4 m (EUR 195.9 m).
• Like-for-like net rental growth retail portfolio: 0.8% (3.0%). 
• Footfall and turnover stable on a like-for-like basis.
• Positive reletting and renewals: 3.7% up. 
• Financial occupancy rate for the retail portfolio increased: 96.6% (95.9%).
• Net average interest % in Q2 2012 down to 3.9% (Q1 2012: 4.1%).
• Net direct financing expense up EUR 2.4 m to EUR 53.2 m (EUR 50.8 m).
• Direct result up 1.8% to EUR 136.2 m (EUR 133.8 m).
• Direct result per share stable at EUR 1.46.
• Valuation portfolio down with 1.5%, revaluations EUR 104.3 m negative (EUR 8.7 m).
• Value of the property portfolio: EUR 7,279.4 m at 30 June 2012 (year-end 2011: EUR 7,426.5 m).
• Percentage invested in retail: 98% (year-end 2011: 97%).
• Leverage: 41.7% at 30 June 2012 (year-end 2011: 41.0%); fixed interest debt 71% (year-end 2011: 64%).
• Corio closed EUR 500 m under a Euro Commercial Paper program.
• Committed pipeline (excluding already paid of EUR 137.7 m) decreased EUR 63 m to EUR 612 m.
• Net Asset Value (NAV) per share at EUR 43.95 (year-end 2011 EUR 45.57), NNNAV per share at EUR 44.92 (year-end 2011: EUR 47.15).

(Comparative figures for H1 2011 results in brackets, unless stated otherwise)

Conference call and webcast H1 2012 results
On Wednesday 8 August 2012, Gerard Groener (CEO) and Ben van der Klift (CFO) will present the H1 2012 results via a webcast and conference call at 10.00 CET at Corio's offices at Hoog Catharijne. The presentation can be downloaded from Corio's website http://www.corio-eu.com/presentations.html. The direct link to the website is: http://corio.dutchview.nl/corio20120808pe-utr/. You can listen to the analyst meeting and ask questions by dialing: +31 (0)20 7965 008 or +44 (0)20 7162 0077 (access code: 919526). More details about the webcast and call can be found on Corio's website http://www.corio-eu.com/other-news-reader/items/publication-and-presentation-h1-results-2012.html.

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