EANS-Adhoc: Atrium European Real Estate Limited / FULL YEAR 2013 RESULTS REFLECT STRONG FINANCIAL AND OPERATIONAL PERFORMANCE AND SUCCESSFUL DELIVERY OF OUR GROWTH STRATEGY

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annual result/annual report
12.03.2014

Atrium European Real Estate Limited
("Atrium")

FULL YEAR 2013 RESULTS REFLECT STRONG FINANCIAL AND OPERATIONAL
PERFORMANCE AND SUCCESSFUL DELIVERY OF OUR GROWTH STRATEGY

Ad hoc announcement - Jersey, 12 March 2014. Atrium European Real Estate Limited
(VSE/Euronext:ATRS), a leading owner, operator and developer of retail real
estate and shopping centres in Central and Eastern Europe, announces its results
for the year ended 31 December 2013.

Financial Highlights:

* Gross rental income ("GRI") increased by 5.2% to EUR203.5m (2012:
EUR193.5m), with an increase in EPRA like-for-like GRI of 3.3% to
EUR196.8m (2012: EUR190.6m) Net rental income ("NRI") increased by
5.3% to EUR190.8m (2012: EUR181.3m), with an increase in EPRA
like-for-like NRI of 3.7% to EUR185.3m (2012: EUR178.7m)

* Both our operating margin for the financial year 2013 and our EPRA
occupancy at 31 December 2013 remained solid at 93.8% (2012: 93.7%)
and 98.1% (31.12.2012: 98.0%) respectively

* EBITDA, excluding revaluation, disposals and impairments, increased
by 9.9% to EUR160.4m (2012:EUR146.0m)

* Profit before taxation was EUR90.6m, compared to EUR116.1m in 2012,
with the change primarily due to EUR16.3m higher devaluation
result, EUR13.7m lower result on foreign exchange differences and
higher interest expenses of EUR8.5m, offset by EUR9.6m growth in
NRI and EUR3.8m lower administrative expenses

* Company adjusted EPRA earnings per share increased by 3.4% to 33.5
EURcents (2012: 32.4 EURcents)

* EPRA net asset value ("NAV") per share remained stable at EUR6.43
as at 31 December 2013

* The value of the Group's income producing portfolio increased by
7.8% to EUR2.4 billion, compared to EUR2.2 billion as at 31
December 2012. The increase primarily comprised the acquisition of
Galeria Dominikanska shopping centre in Wroclaw, Poland

* Cash position of EUR305.6m with borrowings of EUR803.6m as at 31
December 2013 representing a gross LTV of 27.3% and a net LTV of
16.9% (31.12.2012: 19.7% and 12.1% respectively)

* A total of EUR0.21 dividend per share was paid in 2013

* For 2014, the Board has approved a 14% increase in the dividend to
at least EUR0.24 per share. The first payment of EUR0.06 per share
will be paid as a capital repayment on 31 March 2014 to
shareholders on the register on 24 March 2014, with an ex-dividend
date of 20 March 2014.

Operational Highlights:

* Completion of the EUR151.7 million acquisition of Galeria
Dominikanska, a prime shopping centre, centrally located in the
dominant shopping area of Wroclaw, the fourth largest city in
Poland

* EUR350 million successfully raised in April through the placing of
a 3.7 times over-subscribed unsecured seven year Eurobond bearing a
4.0% fixed coupon

* The Board authorised the repurchase of any and all of the
outstanding bonds which were issued in 2005 and are due in 2015
(ISIN: AT0000492996, AT0000496641). Purchases are to be made
opportunistically as market conditions or circumstances permit and
on terms that Atrium determines to be financially appropriate

* Continued progress made at our Lublin Felicity development in
Poland, the centre is on target to open in March 2014

* Construction works have continued on the extension of the Group's
shopping centre in Torun, Poland. The extension will add an
additional 17,300 sqm of GLA and a further 640 parking spaces to
the centre upon completion in late 2014.

Commenting on the results, Rachel Lavine, CEO of Atrium European Real
Estate, said:

"2013 was another year of strong performance from Atrium. We grew
like-for-like rental income through the successful management of our
existing assets, completed a major shopping centre acquisition to
expand and enhance our portfolio, made excellent progress on our
development projects and further strengthened our financial position
with a bond issue. As we enter 2014 we are very well positioned and,
as there are some encouraging sentiments in the macroeconomic climate
in our core markets, I am confident that we will continue to deliver
our growth strategy and generate value for our shareholders."

This announcement is a summary of, and should be read in conjunction
with the full version of the Group's 2013 full year results, which
can be found on the Atrium page of the Vienna Stock Exchange website
at http://en.wienerborse.at/ and on the Group's page of the Euronext
Amsterdam website, www.euronext.com or on the Group's website at
www.aere.com.

Further information can be found on Atrium's website www.aere.com or
from:

Analysts:

Ljudmila Popova
lpopova@aere.com

Press & Shareholders:

FTI Consulting Inc
+44 (0)20 7831 3113

Richard Sunderland
Will Henderson
Nick Taylor

atrium@fticonsulting.com

Atrium is established as a closed-end investment company domiciled in
Jersey. Atrium is registered with the Dutch Authority for the
Financial Markets as a collective investment scheme which may offer
participations in The Netherlands pursuant to article 2:66 of the
Financial Supervision Act (Wet op het financieel toezicht). All
investments are subject to risk. Past performance is no guarantee of
future returns. The value of investments may fluctuate. Results
achieved in the past are no guarantee of future results.

Further inquiry note:
FTI Consulting Inc
+44 (0)20 7831 3113
Richard Sunderland
Will Henderson
richard.sunderland@fticonsulting.com

end of announcement euro adhoc
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issuer: Atrium European Real Estate Limited
Seaton Place 11-15
UK-JE4 0QH St Helier Jersey / Channel Islands
phone: +44 (0)20 7831 3113
mail: richard.sunderland@fticonsulting.com
WWW: http://www.aere.com
sector: Real Estate
ISIN: JE00B3DCF752
indexes: Standard Market Continuous
stockmarkets: official market: Wien
language: English