Retail Estates : Annual financial report 2021-2022

Annual report

#21/22

IN RETAIL WE TRUST

In retail we

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2		124
21/22		RETAIL ESTATES ON
IN BRIEF	THE STOCK EXCHANGE

trust

The Belgian public real estate investment trust Retail Estates nv is a niche player specialised in making in out-of-town retail properties located on the periphery of residential areas or along main access roads to urban centres available to users. Retail Estates nv acquires these real properties from third parties or builds and commercialises retail buildings for its own account. The buildings have useful areas ranging between 500m² and 3,000m². A typical retail building has an average area of 1,000 m².

The most important long-term goal for Retail Estates nv is to assemble, manage and expand

• portfolio of out-of-town retail real estate which ensures steady, long-term growth due to its location and the quality and diversification of its tenants. The projected growth results both from the value of the assets and the income generated from leasing.

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REMARKABLE	170
REAL ESTATE FACTS
	FINANCIAL
	REPORT

10

LETTER TO THE

SHAREHOLDERS

14

MANAGEMENT

REPORT

254

PERMANENT DOCUMENT

240

RISK FACTORS

134

REAL ESTATE REPORT

276

MISCELLANEOUS

CONTENTS

CONTENTS

2| ANNUAL REPORT 21-22RETAIL ESTATES

21/22 In brief

Geographical distribution	Type of building	Commercial activities of
					tenants
			11,89% Individual	1,95% Horeca	6,48% Other
32,19% The Netherlands	37,09% Flanders	1,45% Other	peripheral
			retailproperties	1,57% Leisure
			12,44% Retail-	15,56%
			clusters	Commodities
				+ Food
		74,22% Retail parks		16,77% Fashion	57,67% Home
	30,71% Wallonia				improvement

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Stable occupancy rateGeographical spread clusters

97,83%	Groningen
The current outlet renting	Friesland
market in the suburban
areas shows great stability	Drenthe
with respect to both

Noord-Holland

investors and lessees.

742	245	987
Retail properties	Retail properties in		24
in Belgium	The Netherlands	Retail properties	15

The real estate portfolio of
Retail Estates nv consists
of retail properties located	"We strive to create the right work-
outside the largest cities of	life balance for our compact and
Belgium and	dynamic team with attention to
everyone's personal needs."
the Netherlands

Flevoland

Gelderland

Utrecht

Zuid-Holland

Noord-Brabant

Zeeland1

1 Essen

Overijssel

Expansion in Belgium

Growth portfolio Retail Estates nv between 1998 and 2022

Area m2

Fair value (in thousands EUR)

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Retail area

1 177 577m²

Retail Estates invests in acquisitions, investments in project developments and investments in the optimisation of its real estate portfolio.

Fair value

1 759 879 000€

Retail Estates nv has concentrated on continuously improving the quality of its properties and

the expansion of its real estate portfolio.

1		Aartselaar	1	1		Limburg
			1
		Ant1	werpen
Brugge		Balen
1	Lier	Bree
	Mechelen
West-Vlaanderen	1
Oost-Vlaanderen		1	2	Limburg
	Lokeren 1 Dendermonde
		Vlaams-Brabantt
		Aarschot	Tielt-Winge
	Denderleeuw Brussel

	Waals-Brabant
Henegouwen	Luik

1

Namen

Jemeppe-Sur-Sambre

2

Luxemburg

• Contribution in kind "De Vleterbeek"
  35,86 mio EUR investment
  27 units - 17 locaties Aarschot, Aartselaar, Balen, Bree, Brugge, Denderleeuw, Dendermonde, Essen, Jemeppe-Sur-Sambre,Lier, Lokeren, Mechelen

2	Purchase cluster locations

Awards

"Retail Estates was again included in the EPRA

annual report survey and received a Gold award for its financial reporting and a Silver award for its sustainability reporting."

Libramont

• The most important long-term objective for RetailEstatess nv is to compose, manage and expand aportfolio of peripheral retail properties that ensuressteady growth through the choice of location and the quality and diversification of the tenants."

9,72 mio EUR

6 units

21/22 IN BRIEF

21/22 IN BRIEF

4| ANNUAL REPORT 21-22RETAIL ESTATES	| 5

Remarkable

real estate facts

REMARKABLE REAL ESTATE FACTS

REMARKABLE REAL ESTATE FACTS

6| ANNUAL REPORT 21-22RETAIL ESTATES

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Remarkable facts

1998-2022

Independant

Retail Estates becomes an

independently managed

investment company

with fixed capital

1998

1999

2002

2003

Retail Estates on

Strengthening

Strengthening

the stock exchange

of the capital

of the capital

IPO and first listing on

1st public capital

2nd public capital

Euronext Brussels

increase

increase

Value real estate portfolio

Real estate portfolio reaches the milestone of EUR 250 million

2008

		Optional stock
		dividend
		offered to the
		shareholders
		for the first time
2011		2012	2013
Value real estate				Strengthening
portfolio				of the capital
Real estate portfolio				3rd public capital
reaches the milestone				increase
of EUR 500 million

Value real estate	20 years Retail
portfolio	Estates on the stock
Real estate portfolio	exchange
reaches the milestone	Additional listing on
of EUR 1,5 billion	Euronext Amsterdam

2018
2019			2017
	Strengthening		Inclusion in
	of the capital		EPRA index
	5th public capital		The inclusion in
	increase		the EPRA index
	Expansion to the		contributes to the
	Netherlands		share's visibility

Diversification of financing sources bond issue - private placement of EUR 75 million

2020 2021

Stable portfolio valuations and increasing dividend, despite months of mandatory shop closures due to Corona crisis

Value real estate	Diversification of
portfolio	financing sources
Real estate portfolio	bond issue - private
reaches the milestone	placement
of EUR 1 billion

		2014
2016			2015
Diversification of	Strengthening		Sicaf becomes
financing sources	of the capital		Belgian Reit
bond issue - private	4th public capital		(regulated real
placement	increase		estate company)

Full recovery of operating results to pre-corona level

2022

REMARKABLE REAL ESTATE FACTS

REMARKABLE REAL ESTATE FACTS