Investor relations

FAQ

What’s the impact of the EUR/PLN rate fluctuation on the company’s results? Is the company hedged against currency risk. If so, how?

The company has a natural hedge against currency risk. Lease agreements are Euro-denominated similar to investment loans. Thus, the currency risk exposure is insignificant and the Euro-denominated funds from operations (FFO) should be stable. Exchange rate fluctuations have an impact on property valuation as well as on the Euro-denominated loans but do not have any real influence on the company’s cash flow.

How is the company hedged against inflation and changes in market interest rates?

The company is well hedged against both inflation and market interest rate fluctuations. Every year most lease agreements are adjusted by the inflation index. In addition the company has launched investment loan-related hedging strategy against interest rate fluctuations which, by using derivative instruments, will protect the company relevantly against potential increases in financial costs.

How does the company comment on its share price fluctuations; do they influence a promised dividend?

Griffin Premium RE.., due to its REIT-type operation, is focused on paying its shareholders a stable and regular dividend. The company reiterates its 2017 dividend forecast. The share price has no influence on its dividend payout ability because the dividend depends on the rental income generated from our properties.

Currently, there are legislative works going on aimed at defining the form of Polish REITs. Provided the new law is in place, will Griffin Premium RE.. become a company operating according to these new regulations?

The Company monitors all activities related to the above-mentioned draft law. It takes part in market consultations by presenting its views in public conferences and debates. All depends on the details. Griffin Premium RE.. keeps declaring that, if the new regulations are in force and its internal analyses show that such a solution would be beneficial to its shareholders, then it will likely transform itself into a REIT defined by the law. However, the Company would like to emphasize that everything depends on the final version of the law and the results of internal analyses and its advisors’ opinions.

Globalworth Poland

Globalworth Poland Real Estate N.V. (GPRE) is a pure-play Polish real estate platform listed since April 2017 on the Warsaw Stock Exchange. GPRE is majority owned by Globalworth, the leading CEE office landlord focused on Poland and Romania.

Registered office

Claude Debussylaan 15
1082MC Amsterdam, The Netherlands

+31(0)20 238 4000

Contact

Management
ul. Marszałkowska 142
00-061 Warsaw

phone:
+48 22 27 80 600

e-mail:
contact@globalworth.pl