U.S. Markets open in 6 hrs 40 mins

Gazit Globe Reports Fourth Quarter and 2018 Annual Results

Improvement in All Operational Parameters in the Period

  • Increase in the proportionate NOI of approx. 5.8% and 8.8% in the period and in the quarter, respectively;
  • Same property NOI growth of 3.1%;
  • Increase of approx. 9.5% in FFO per share and of approx. 35.3% in the FFO per share excluding Regency in the quarter compared with the same quarter in 2017;
  • Increase of approx. 21.1% in the operating cash flow on expanded solo level to NIS 545 million (approx. NIS 2.83 per share);
  • Occupancy increased by 1.0% to 96.6%;
  • Fair value gain of NIS 481 million in 2018 in investment properties of our private portfolio due to increase in NOI;
  • Dividend increase by approx. 6.6% to NIS 1.62 per share from NIS 1.52 per share.

TEL-AVIV, Israel, March 18, 2019 (GLOBE NEWSWIRE) -- Gazit Globe (GZT.TA), a leading global real estate company focused on the ownership, management and development of retail and mixed use properties in urban markets, announced today its financial results for the fourth quarter and year ended December 31, 2018 ("Period").

A PDF including full results is available at: http://ml.globenewswire.com/Resource/Download/d32e4324-2fc6-4e08-b7e3-c215ecc7992b

CONFERENCE CALL/WEB CAST INFORMATION

Gazit Globe will host a conference call and webcast in English on Monday, March 18th, 2019 09:00 am US EST/ 3:00 pm Israel Time, to review the fourth quarter and year ended December 31, 2018 financial results. Shareholders, analysts and other interested parties can access the conference call by dialing: United States 1 888 668 9141, Canada 1 888 604 5839, United Kingdom 0 800 917 5108, Brazil (Landline only)   0 800 764 6063, International / Israel +972 3 9180687

A presentation and replay of the call will be available on the company’s website under "Investor Relations" at: www.gazitglobe.com

Webcast link: http://veidan-stream.com/gazitglobeq4-2018.html

About Gazit Globe

Gazit Globe is a leading global real estate company focused on the ownership, management and development of retail and mixed use properties in North America, Brazil, Israel, northern, central and Eastern Europe, located in urban growth markets. Gazit Globe is listed on the Tel Aviv Stock Exchange (GZT.TA) and is included in the TA-35 index in Israel. As of December 31, 2018 Gazit-Globe owns and operates 103 properties, with a gross leasable area of approximately 2.5 million square meters and a total value of approximately NIS 41 billion. In addition, the Company owns 31.3% of First Capital Realty Inc and as of December 31, 2018. On February 28, 2019 Gazit Globe announced that the Company and its wholly-owned subsidiary entered into agreements related to its stake in First Capital Realty which are subject to certain conditions including the approval of the majority of FCR’s shareholders excluding Gazit, to sell most of its stake in FCR for aggregate consideration of approximately CAD $1.2 billion (approximately NIS 3.3 billion). If completed, Gazit’s ownership interest in FCR would be reduced from approximately 31.3% currently to approximately 9.9%.

FOR ADDITIONAL INFORMATION

A comprehensive copy of the Company’s financial report is available on Gazit-Globe website at www.gazitglobe.com

Investors Contact: IR@gazitgroup.com, Media Contact: PR@gazitgroup.com

Gazit Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000

FORWARD LOOKING STATEMENTS

This release may contain forward-looking statements within the meaning of applicable securities laws. In the United States, these statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of known and unknown risks and uncertainties, many of which are outside our control that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks detailed in our public filings with the SEC and the Canadian Securities Administrators. Except as required by applicable law, we undertake no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events or otherwise.