by Property Forum | Report

Subsequent to NEPI Rockcastle’s previous updates concerning the impact of the COVID-19 on its operations, there have been significant developments around the COVID-19 situation. As governments, national authorities and companies continue to implement rigorous measures, there is a high degree of uncertainty about the impact of this on the Group’s operations. As a result, NEPI Rockcastle withdraws its earnings guidance for 2020 and expects to provide an update when the Group will be in a position to estimate the effects of the current situation reliably.

NEPI Rockcastle is committed to maintaining its conservative gearing level and a robust liquidity. At this stage, NEPI Rockcastle is actively implementing various measures focused on achieving the most suitable allocation of capital, including reducing non-critical operating expenses, deferring non-committed development projects and non-essential capital expenditure and utilising any relevant facilities provided by national authorities to assist companies in the current context.

The Group continues to assess the situation and will provide further updates when appropriate.