EANS-News: Atrium European Real Estate Limited / First quarter 2017 trading update

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Quaterly Report

St Helier Jersey / Channel Islands - Atrium European Real Estate Limited

First quarter 2017 trading update

Jersey, 17 May 2017. Atrium European Real Estate Limited (VSE/Euronext: ATRS),
("Atrium" or the "Company" and together with its subsidiaries, the "Group"), a
leading owner, operator and redeveloper of shopping centres and retail real
estate in Central and Eastern Europe, provides an update on trading for the
first quarter ended 31 March 2017.

Liad Barzilai, Chief Executive Officer of the Group, commented: "It has been an
encouraging start to the year for Atrium, with improvements across all key
metrics and like-for-like net rental income growth across all our countries
during the first quarter of 2017, as the benefits of our ongoing portfolio
repositioning and improvement strategies continue to bear fruit. We were also
very pleased with the turnaround we saw in Russia in Q1 2017, following a
bottoming out in Q4 2016, which led to a 31% increase in like-for-like income
from our assets in that region. This, combined with the strong performances
elsewhere across our portfolio, has allowed us to start the year with a
positive earnings momentum. We will now look to build on this positive dynamic,
particularly as we implement our cost savings and efficiency plan, whilst
continuing to invest in our redevelopment and extensions programme."

KEY FINANCIAL FIGURES FOR THE PERIOD

3M 2017              3M 2016               CHANGE
                                  EURm                 EURm                    %
Net rental income                 47.6                 47.3                 0.7%
EPRA Like-for-Like                38.9                 35.8                 8.5%
net rental income
EBITDA excl.
revaluation,                      39.8                 35.1                13.5%
disposals and
impairments
Company adjusted                  30.5                 28.7                 6.3%
EPRA earnings
Profit after                      31.5                 26.2                19.9%
taxation

KEY HIGHLIGHTS

* 8.5% increase in like-for-like net rental income driven by growth in all
  countries and a 31% increase in Russia (+6% compared to Q4 2016)
* At an operating level the Group performed very well with a 13.5% improvement
  in EBITDA, a 6.3% increase in Company adjusted EPRA earnings and 19.9% growth
  in profit after taxation
* Balance sheet well positioned to support growth with EUR135m in cash and
  marketable securities and EUR175m unutilized revolving credit facility as
  well as continued low gearing
* On going redevelopments projects - EUR300m pipeline, 70,000 sqm of GLA
* Major milestone reached on Austrian legacy legal claims with a framework
  agreement as a basis to resolve a significant majority of these claims
* Cost efficiency programme announced in March 2017 - EUR10m savings per annum
  from 2018 onwards (EUR5m - EUR6m in 2017) in administrative costs as a result
  of the signing of the legacy legal framework agreement and identified
  operational efficiencies. Further information can be found on the Company's
  website www.aere.com or for Analysts: lpopova@aere.com Press & Shareholders:
  FTI Consulting Inc +44 (0)20 3727 1000 Richard Sunderland Claire Turvey Ellie
  Sweeney atrium@fticonsulting.com

The Company is established as a closed-end investment company incorporated and
domiciled in Jersey and regulated by the Jersey Financial Services Commission
as a certified Jersey listed fund, and is listed on both the Vienna Stock
Exchange and the Euronext Amsterdam Stock Exchange. Appropriate professional
advice should be sought in the case of any uncertainty as to the scope of the
regulatory requirements that apply by reason of the above regulation and
listings. All investments are subject to risk. Past performance is no guarantee
of future returns. The value of investments may fluctuate. Results achieved in
the past are no guarantee of future results.

Further inquiry note:
For further information:
FTI Consulting Inc.:
+44 (0)20 3727 1000
Richard Sunderland
Claire Turvey
Richard.sunderland@fticonsulting.com

end of announcement euro adhoc
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issuer: Atrium European Real Estate Limited Seaton Place 11-15 UK-JE4 0QH St
Helier Jersey / Channel Islands

phone:        +44 (0)20 7831 3113
FAX:

mail: richard.sunderland@fticonsulting.com

WWW:          http://www.aere.com
ISIN:         JE00B3DCF752
indexes:

stockmarkets: Wien, Luxembourg Stock Exchange language: English

ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | CNE

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