06/09/2023 5.40 pm

Regulated information

06/09/2023 5.40 pm

Regulated information

    • Qualitative residential real estate portfolio
  • The fair value of the real estate portfolio is € 771,36 million on 30 June 2023.
  • The investment properties available for rent consist of 90,3% residential real estate.
  • More than 50% of the investment properties available for rent are younger than 10 years; more than 80% are younger than 20 years.
  • Completion of the total renovation of L'Angelot in Namur with 51 high-quality and sustainable residential units.
  • Completion of the Niefhout residential project in Turnhout consisting of 92 newly built flats.
    • Strong letting market results in a record occupancy rate
  • Strong residential letting market with high demand for qualitative housing.
  • Increase of the average occupancy rate to 98,4% in the first half of 2023 (compared to 98,3 % in the first half of 2022).
  • Lfl (like-for-like) rental growth of 8.2% in the first half of 2023 (compared to the first half of 2022).
    • Further strong increase of the EPRA earnings
  • 11,7 % increase in the EPRA earnings to € 8,67 million in the first half of 2023 (compared to € 7,75 million in the first half of 2022).
  • 3 % increase in the EPRA earnings per share to € 0,49 in the first half of 2023 (compared to € 0,47 in the first half of 2022).
    • Net Asset Value per share (NAV)
  • The EPRA NTA per share is € 20,49 on 30 June 2023 (-3,8% compared to € 21,40 on 31 December 2022).
    • ABB - Strengthening of shareholders' equity by € 26,70 million
  • On 3 July 2023, the company issued 1 791 706 new shares in the context of a capital increase through accelerated bookbuilding (ABB). The gross proceeds of the transaction amounted to € 26,70 million.
    • Well balanced capital structure and strong liquidity position
  • The debt ratio amounts to 51,01% (RREC Royal Decree) taking into account the capital increase realised on 3rd July 2023.
  • The average cost of debt amounts to 1,96% in the first half year of 2023.
  • 86,5% of the financial debts have a fixed interest rate with a weighted average remaining duration of 4,8 years.
  • Home Invest Belgium has € 45,00 million available credit lines taking into account the capital increase realised on 3rd July 2023.
  • The company has no credit lines or bonds maturing in 2023. The first coming maturity date is in 2024.

1

HALF YEAR FINANCIAL REPORT 2023

06/09/2023 5.40 pm

Regulated information

    • Outlook 2023 and distribution to shareholders
  • For 2023, Home Invest Belgium expects an increase of the EPRA earnings per share to € 1,10 (compared to € 1,08 in 2022) despite the issuance of 8,6% new shares in June 2022 (capital increase 2022) and 10,0% new shares in July 2023 (capital increase 2023).
  • The Ordinary General Meeting and the Extraordinary General Meeting approved on 2 May 2023 a total distribution to shareholders of € 1,10 per share, an increase for the 23rd consecutive year. The distribution consists of the combination of a gross dividend of € 1,00 per share on the one hand and a reduction of equity by € 0,10 per share on the other.
  • For the coming years the board of directors foresees a distribution policy based on a yearly increase equal to or higher than the long-term inflation.

2

HALF YEAR FINANCIAL REPORT 2023

06/09/2023 5.40 pm

Regulated information

1.

Real estate portfolio

3

2.

Consolidated key figures

5

3.

Notes to the consolidated key figures

7

4.

Activity Report

10

5.

Stock market activity

15

6.

Distribution to shareholders

18

7.

Outlook

19

8. Short consolidated financial statements of the first half of 2023……………………………………………………..…20

9.

APM - Alternative performance measures

39

10.

Shareholders' calendar

43

3

HALF YEAR FINANCIAL REPORT 2023

06/09/2023 5.40 pm

Regulated information

On 30 June 2023, Home Invest Belgium holds a real estate portfolio1 of € 771,36 million (compared to € 772,01 million on 31 December 2022).

REAL ESTATE PORTFOLIO

30/06/2023

31/12/2022

Fair value of investment properties

€ 745,75 m

€ 772,01 m

Investment properties available for rent

€ 698,75 m

€ 693,97 m

Development projects

€ 47,00 m

€ 51,99 m

Investments in associated companies and joint ventures

€ 25,61 m

€ 26,05 m

TOTAL

€ 771,36 m

€ 772,01 m

The fair value of the investment properties available for rent amounts to € 698,75 million across 48 sites.

The total contractual annual rents and the estimated rental value of vacant space is € 36,10 million as of 30 June 2023.

The investment properties available for rent are valued by independent real estate experts at an average gross rental yield2 of 5,2%.

Residential properties accounted for 90,3% of the investment properties available for rent on 30 June 2023. On 30 June 2023, 66,9% of the investment properties available for rent are located in the Brussels Capital Region, 10,7% in the Walloon region, 13,0% in the Flemish Region and 9,4% in The Netherlands.

Investment properties available for rent By type of property

Investment properties available for rent Geographical distribution

The Nethelands

9,4%

Flemish Region 13,0%

Walloon Region

10,7%

Brussels

Capital

Region

66,9%

  1. The real estate portfolio includes (i) investment properties and (ii) investments in associated companies and joint ventures equity method.
  2. Gross rental yield = (contractual gross rents on a yearly basis + estimated rental value on vacant spaces) / (fair value of the investment properties available for rent).

4

HALF YEAR FINANCIAL REPORT 2023

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Home Invest Belgium NV published this content on 04 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 September 2023 15:53:03 UTC.