Results (€ million) 2020 2019 2018 2017 2016
Gross rental income 64.9 69.3 77.1 77.5 89.5
Direct result 31.7 35.0 40.4 41.1 46.2
Indirect result (73.1) (12.6) 0.7 53.5 (19.7)
Result (41.3) 22.4 41.1 94.6 26.4
Balance sheet (€ million)
Property 1.479,3 1,571.4 1,579.6 1,591.6 1,614.8
Equity 818.3 882.9 923.0 933.4 891.5
Equity Vastned Retail shareholders 737.2 793.7 830.4 838.7 804.4
Long-term liabilities 654.0 612.1 505.4 633.9 636.9
Average number of shares in issue 17,151,976 17,270,106 18,151,962 18,505,783 19,036,646
Number of share in issue (at year-end) 17,151,976 17,151,976 17,894,592 18,186,800 19,036,646
Per share (€)
Equity Vastned Retail shareholders
Vastned Retail primo (incl dividend) 46.28 46.4 46.12 42.26 42.90
Adjustment related to IFRS 9 - - (0.07) - -
Final dividend previous financial year 0.85 (1.34) (1.41) (1.32) (1.31)
Equity Vastned Retail shareholder
at the beginning of the year (excl. dividend) 45.43 45.06 44.64 40.94 41.59
Direct result 1.85 2.03 2.22 2.22 2.42
Indirect result (4.26) (0.73) 0.04 2.89 (1.03)
Result (2.41) 1.30 2.26 5.11 1.39
Other movements - 0.57 0.21 0.71 0.01
Interim dividend - (0.58) (0.71) (0.64) (0.73)
Equity Vastned Retail shareholder
at year-end 42.98 46.28 46.40 46.12 42.26
EPRA NNNAV 42.36 46.20 46.46 45.66 41.68
Share price (at year-end) 23.15 26.70 31.30 41.30 36.86
Dividend in cash 2.05 2.05 2.05 2.05 2.05
Shareholder return (%) (10.3) (8.6) (19.7) 17.1 (8.1)
Other
Solvency ratio (%) 55.2 56.6 59.0 59.2 56.1
Loan-to-value ratio (%) 43.0 41.6 39.0 38.8 41.8
Capital expenses (€ million) 2.3 2.4 3.9 3.8 5.8
Number of employees (FTEs, average) 38 39 41 45 49