Results (€ million) 2021 2020 2019 2018 2017
Gross rental income 62,2 64.9 69.3 77.1 77.5
Direct result 33,1 31.7 35.0 40.4 41.1
Indirect result (18,7) (73.1) (12.6) 0.7 53.5
Result 14,4 (41.3) 22.4 41.1 94.6
Balance sheet (€ million)
Property 1.438,0 1.479,3 1,571.4 1,579.6 1,591.6
Equity 792,0 818.3 882.9 923.0 933.4
Equity Vastned Retail shareholders 713,1 737.2 793.7 830.4 838.7
Long-term liabilities 636,6 654.0 612.1 505.4 633.9
Average number of shares in issue 17,151,976 17,151,976 17,270,106 18,151,962 18,505,783
Number of share in issue (at year-end) 17,151,976 17,151,976 17,151,976 17,894,592 18,186,800
Per share (€)
Equity Vastned Retail shareholders
Vastned Retail primo (incl dividend) 41,57 46.28 46.4 46.28 42.26
Adjustment related to IFRS 9 - - - (0.07) -
Final dividend previous financial year (1,73) 0.85 (1.34) (1.41) (1.32)
Equity Vastned Retail shareholder
at the beginning of the year (excl. dividend) 39,84 45.43 45.06 44.64 40.94
Direct result 1,93 1.85 2.03 2.22 2.22
Indirect result (1,09) (4.26) (0.73) 0.04 2.89
Result 0,84 (2.41) 1.30 2.26 5.11
Other movements 0,01 (0,04) 0.57 0.21 0.71
Interim dividend (0,53) - (0.58) (0.71) (0.64)
Equity Vastned Retail shareholder
at year-end 41,57 42.98 46.28 46.40 46.12
NTA 42,13 43,78 47,25
NRV 47,43 48,60 52,31
Share price (at year-end) 24,00 23.15 26.70 31.30 41.30
Dividend in cash 1,73 2.05 2.05 2.05
Shareholder return (%) 13,2 (10.3) (8.6) (19.7) 17.1
Other
Solvency ratio (%) 55,1 55.2 56.6 59.0 59.2
Loan-to-value ratio (%) 43,0 43.0 41.6 39.0 38.8
Capital expenses (€ million) 3,0 2.3 2.4 3.9 3.8
Number of employees (FTEs, average) 34 38 39 41 45