"I am very pleased to report the close of
Second Quarter 2014 Highlights
•FFO(1) per unit was
"It's important to note that our growth to date has been achieved using our internal resources and that we have the capital to execute on more opportunities," added
Key Performance Indicators
Three months ended
US$ thousands, excluding ratios, per unit values
Net operating income ("NOI")(1)
Number of units outstanding
Funds from operations ("FFO")(1)
FFO per unit(1)
Adjusted funds from operations ("AFFO")(1)
AFFO per unit(1)
AFFO payout ratio(1)
Debt / GBV ratio
Interest coverage ratio
See Non-IFRS Measures.
The forecast of the REIT's financial results presented in the Management Information
Circular covered the period beginning
of SUSO 1, SUSO 2 and GAR (the "Forecast"). The Combination Transaction was however
and the actual results for the quarter, the Forecast has been adjusted (the "Adjusted Forecast").
Slate Retail paid distributions of
Conference Call and Supplemental Information
Senior management will host a live conference call at
All interested parties can access Slate Retail's Supplemental Information online at www.slateretailreit.com under the Investors section. These materials are also available on SEDAR or upon request to the REIT at firstname.lastname@example.org or (416) 644-4264.
This news release contains forward-looking information within the meaning of applicable securities laws. These statements include, but are not limited to, statements concerning the REIT's objectives, its strategies to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Readers should not place undue reliance on any such forward-looking statements.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the REIT to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained herein.
Such forward-looking statements are based on a number of assumptions that may prove to be incorrect, including, but not limited to, the continued availability of mortgage financing and current interest rates; the extent of competition for properties; assumptions about the markets in which the REIT and its subsidiaries operate; the global and North American economic environment; and changes in governmental regulations or tax laws.
Although the forward-looking information contained in this news release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Certain statements included in this news release may be considered "financial outlook" for purposes of applicable securities laws, and such financial outlook may not be appropriate for purposes other than this news release. Except as required by applicable law, the REIT undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
This news release contains financial measures that do not have a standardized meaning under International Financial Reporting Standards ("IFRS") as prescribed by the
Use of Estimates
The preparation of the REIT financial statements in conformity with IFRS requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Management's estimates are based on historical experience and other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates under different assumptions.