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Eastnine AB publishes Year-end Report 2018

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Key events during January - December:

  • Rental income¹ increased by 60.1% to EUR 9,130k (12M 2017: 5,703k) primarily due to acquisitions and completion of the third tower in 3Burės. Comparable rental income¹ increased by 1.2%
  • Occupancy was 88.8% (97.0%)
  • Net operating income¹ increased by 90.6% to EUR 7,690k (4,035k)
  • Profit from property management¹ increased to EUR 3,180k (-1,344k)
  • Unrealised value changes in properties amounted to EUR 5,483k (4,546), of which EUR 3,675k in Q3 following a revaluation of the completed third tower of 3Burės
  • Other unrealized value changes amounted to EUR 2,903k (10,354k), of which EUR 299k (5,729k) refers to Melon Fashion Group, EUR 3,471k (4,140k) refers to property funds and EUR -782k (780k) refers to derivatives
  • Net profit amounted to EUR 15,641k (17,085k), corresponding to EUR 0.71 (0.70) per share

¹ Pro-forma

Key events during the fourth quarter:

  • The Board will propose to the AGM an ordinary dividend for 2018 of SEK 2.30 per share, with semi-annual payments. The dividend corresponds to 2.0% of NAV/share and a year-on-year dividend growth of 10%, and translates into EUR 0.22 per share
  • The two original towers of 3Burės in Vilnius were awarded LEED Platinum certification for green buildings
  • Dividends received in Q4 amounted to EUR 2,928k (2,368k)
  • 294,037 shares were repurchased at an average price of SEK 90.22, totalling EUR 2,576k and the buyback program was extended until 31 March 2019

Key events after the fourth quarter:

  • Britt-Marie Nyman has been appointed as CFO and deputy CEO, assuming position no later than 1 August
  • 3Burės third tower was awarded LEED Platinum certification in February
  • Acquisition of S7 office park in Vilnius comprising 42,500 sqm for a total consideration of EUR 128m

For more information contact:

Kestutis Sasnauskas, CEO, +46 8 505 97 700

Mattias Lundgren, Interim CFO, +46 70 228 88 81

Visit www.eastnine.com

Eastnine AB (publ) is a Swedish investment company with a net asset value of EUR 240.8m. The company is currently transitioning into a focused Baltic real estate company, with an aim to generate predictable cash flows by being a long-term provider of sustainable prime office space in the Baltic capitals. Eastnine is listed on Nasdaq Stockholm, Mid Cap, sector Real Estate.

This information is information that Eastnine AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 a.m. CET on 15 February 2019.

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