BCRE.L Regulatory News (BCRE)

BCRE - Brack Capital Real Estate Investments N.V.

("BCRE" or the "Company")

Subsidiary Accounts Filed and Published on the Tel Aviv Stock Exchange (the "TASE")

The Company (LSE: BCRE) announces that Brack Capital Properties N.V ("BCP"), a subsidiary of the Company, whose shares are traded at the TASE, has published today its interim financial reports for the third quarter of 2014 (a period ending 30.09.2014).

The interim financial reports for the second quarter published by BCP includes:

1. Board of Directors' Report for the third quarter of 2014.

2. Interim consolidated financial statement as of 30.09.2014 (unaudited).

3. Presentation of financial data from interim consolidated financial statements attributed to BCP itself as of 30.09.2014 (unaudited).

For ease of reference, we have provided an uncertificated English translation of the above documents along with the Hebrew certified version on the Company website www.brack-capital.com.

Key highlights relating to the principal results of the third quarter of 2014:

1. Profitability - in the third quarter of 2014, the Company's net income attributed to the Company's shareholders amounted to EUR 13.5 million compared to income of EUR 10.1 million in the corresponding quarter last year. The following is the contribution of income producing real estate and entrepreneurship residential activities to the Company's results:

- Income producing real estate - in the reported quarter, the FFO increased by 7% compared to the previous quarter and amounted to EUR 5.2 million.

- Residential development activity- in the reported quarter, the Company recorded net income of EUR 4.8 million (the Company's share) from delivering 83 apartments in Stage A (202 flats) of Grafental project. 

2. Equity and NAV - the equity attributed to the Company's shareholders amounted to approximately EUR 266.8 million and the NAV1 amounts to EUR 322.6 million as of the report date.

3. High financial stability - the net debt ratio to balance sheet is approximately 55 % and the debt ratio to net CAP is 63.5% as of the date of the report. The EBITDA ratio to interest expenses (only from the income producing portfolio, excluding operating income from entrepreneurship activity) is 2.4 in the third quarter of 2014. In addition, cash balances amounted to approximately EUR 63 million as of the report date.

ENQUIRIES:

About BCRE

BCRE is an international real estate development and investment group, headquartered in the Netherlands and listed on the London Stock Exchange. Through its subsidiary and associated undertakings, the Company is interested in, develops and operates an international portfolio of real estate assets, predominantly located in the USA, Germany, Russia, India and the UK.

The Company has established local management team platforms with significant local market expertise in the US, Germany, Russia, India and the UK with exclusive access to over 400 staff. At present, the Company has offices and teams in New York, London, Frankfurt, Düsseldorf, Moscow, Kazan, New Delhi, Amsterdam, Limassol and Budapest.