Increase by 10% in the fair value of the investment properties: € 727 million as at 30 June 2018 (€ 663 million as at 31 December 2017) due to acquisitions in line with the strategy. 

Expansion of logistics real estate portfolio in the Netherlands: acquisition of 4 logistics sites in Roosendaal, Vuren, Eindhoven and Raamsdonksveer, representing 81.000 m². 

Development potential of over 250.000 m² of logistics real estate on the Ford site in Genk with the selection of 'Genk Green Logistics': signed private purchase agreement with the Flemish Authorities. 

Active semester regarding rental transactions in the office portfolio: 20.300 m² or 11% of the annual rental income of the office segment. 13.100 m² concerns new leases. Herewith WALL offices (average remaining duration of the lease agreements until the next expiry date) increased to 3,6 years (3,1 years as at 31 December 2017). For surface areas larger than 2.000 m², it was 4,3 years (3,4 years as at 31 December 2017).

Construction works Greenhouse BXL with third Greenhouse Flex (co-working lounge) in final phase. 42% already leased as at 30 June 2018 and commercialisation fully under way.

Increase in the occupancy rate of the total real estate portfolio by 4% to 90% as at 30 June 2018 (86% as at 31 December 2017); office portfolio occupancy rate 82% and logistics portfolio 97%.

Increase in fair value of the current real estate portfolio in the first semester of 2018 met 1%, by 1%, both in the office and in the logistics portfolio.

Ratio of real estate segments as at 30 June 2018: 57% logistics real estate and 43% office buildings.

Increase of the EPRA earnings by 10% in the first semester of 2018 as a result of higher rental income from 5 acquisitions in the logistics real estate portfolio in 2017. 

Stable EPRA earnings per share: € 0,77 in the first semester of 2018 (€ 0,77 in the first semester of 2017).

Full press release:

Average interest rate of the financing: 2,5% in the first semester of 2018 (2,6% in the first semester of 2017).

Strengthening of the equity in the first semester of 2018 with € 10 million through the optional dividend, with 57,5% of the shareholders opting for shares.

Debt ratio: 48,4% as at 30 June 2018 (44,6% as at 31 December 2017).

Half-yearly results 2018


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Source: Intervest Offices & Warehouses NV via Globenewswire