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COVID-19 Update: Recent restrictions adopted in some of the group’s CEE countries
NEPI Rockcastle plc
Incorporated and registered in the Isle of Man
Registered number 014178V
Share code: NRP
ISIN: IM00BDD7WV31
(“NEPI Rockcastle” or the “Group”)
COVID-19 UPDATE: RECENT RESTRICTIONS ADOPTED IN SOME OF THE GROUP’S CEE COUNTRIES
Subsequent to the updates concerning the impact of the COVID-19 on the Group’s operations, the most recent
dated 17 September 2020, the Group provides herewith further news on its portfolio.
New measures have been recently adopted by the governments of the CEE countries to contain the spread of
the virus. These measures include temporarily limiting the operations of some of our shopping centres’
tenants:
- In Czech Republic, the Government ordered all non-essential shops to close and tightened other social-
distancing rules starting 22 October. In the past two weeks, the country registered the highest number of
COVID-19 new infections since the beginning of the pandemic, and the highest in the CEE. While all other
countries where the Group is present reported between 0.3 and 3.5 new cases / 1,000 inhabitants for the 14-
day period ended 22 October, Czech Republic reported 10.6 new cases.
The introduction of the new restrictions in Czech Republic affects approximately 2% of the Group’s total
GLA. In addition, restaurants in Czech malls, corresponding to 0.2% of the Group’s GLA, operate only for
take away orders and deliveries. The Government communicated its support for all affected retailers and
provides a subsidy of 50% of the rent and related charges, with no subsidy requested from landlords. In
addition, the government covers 100% of payroll costs for companies affected by the restrictions.
- In Romania, restrictions relate to temporary closing entertainment tenants in the cities/regions where the
number of infections has exceeded 3 cases/1,000 inhabitants, while indoor restaurants in such regions can
only operate for take away orders and deliveries. As of today, these restrictions affect 1.7% of the Group’s
GLA.
- In Poland, temporary restrictions have been implemented for fitness clubs and swimming pools, accounting
for less than 1% of the Group’s GLA. In addition, from 24 October onwards, indoor restaurants will operate
only for take away orders and deliveries.
- In Slovakia, indoor restaurants only operate for take away orders and deliveries, while entertainment tenants
temporarily suspended their activities. The restrictions affect 1% of the Group’s GLA.
These new measures currently impact approximately 6% of the Group’s total GLA, including indoor restaurants which operate
for take away orders and deliveries. All restrictions are imposed for only two weeks, at the end of which the situation
will be reassessed.
Considering the dynamic of the new COVID-19 cases, other CEE governments where the Group operates
adjusted the safety restrictions in place, without prohibiting activities in any sectors. Wearing masks became
mandatory in the crowded outdoor spaces in most countries, while gatherings allow a limited number of
people, schools are functioning online only or in a hybrid model, and restaurants are allowed to trade at limited
capacity. The CEE governments’ approach is balanced, aiming to control the pressure on the health system
but also to limit the negative impact on economy.
At Group level, the footfall reached 75%-80% of the same period last year. The negotiations with tenants
progressed, increasing the collection rate for the first six months of the year to over 97% of the reported
revenues (adjusted for concessions granted).
Further details on the Group’s operational performance and financial position will be included in the quarterly
Business update, which will be released on 19 November 2020.
For further information please contact:
NEPI Rockcastle plc
Mirela Covasa +40 21 232 1398
JSE sponsor
Java Capital +27 11 722 3050
Euronext Listing Agent
ING Bank +31 20 563 6685
Media Relations mediarelations@nepirockcastle.com
23 October 2020
Date: 23-10-2020 05:40:00
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