Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Belgium
  4. Euronext Bruxelles
  5. VGP NV
  6. News
  7. Summary
    VGP   BE0003878957

VGP NV

(VGP)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

VGP : H1 2021 Resultaten Presentatie

08/31/2021 | 02:22am EST

VGP

1H21 Results Presentation

31 August 2021

1

Fully integrated pure-play logistics real-estate company

Company at a glance

  • Pan-European operator, owner and developer of prime logistics and light industrial parks
  • Fully integrated business model with expertise across value chain: >300 employees in 13 countries
  • High quality standardised logistic and semi-industrial real estate asset base
  • All new buildings delivered at least certified BREEAM
    Very Good or equivalent4
  • Fully let standing portfolio and significantly pre-letdevelopment pipeline: Completed portfolio is 99.4% let and Portfolio under construction is 81.3% pre-let as of June 2021
  • VGP well financed and strongly capitalized: shares listed on Euronext Brussels since 2007
  • Successful and long-termpartnership with Allianz Real Estate since 2016: 3 joint ventures since inception

Portfolio KPI's as of 30-Jun-21

€4.48bn1

85

324

Total GAV

Parks

Tenants

3.9 years

99.4%2

8.2 years3

Average

Occupancy

WAULT

Building Age

Financial KPI's as of 30-Jun-21

€184.3mm5

30.4%

€1.4bn

Shareholders'

EBITDA

Gearing ratio

Equity

130

Number of completed buildings

€205.7mm

Committed annualised rental income

:

BBB-

  1. Gross Asset Value of VGP, including own portfolio and joint ventures at 100% as of 30 June 2021
  2. Including JV portfolio at 100%
  3. Refers to WAULT of JV and Own portfolio combined.
  4. Started-upafter 1 January 2020.
  5. Operating EBITDA (Incl. JV at share) and is calculated as investment EBITDA, property development EBITDA and property management and asset management EBITDA

2

1. Highlights H1 2021

H1 2021 results - Highlights
n Record net profit for the period of €203.8 million n Strong operating performance across regions
n Record 42 buildings with 1,127,000 m² under construction (81.3% pre-let)
n 17 buildings with 426,000 m2 have been started up in H2 2021 (currently 1,559,000 m2 under construction)
  • 8.56 million m2 land bank owned or committed (+11.9% YTD)
  • Our total signed and renewed rental income grew with 21.9% over the first 8 months of 2021 to € 225.7 million1
  • Strong delivery pipeline of >550,000m2 for H2 2021 expected2
  • Anticipated capex roll-forward is expected to be fully covered by net cash proceeds from joint venture closings
  • Advanced discussions with Allianz regarding expansion of partnership through launch of fourth joint venture ongoing
  • Strong cash position with €469 million available on balance sheet and gearing ratio at 30.4% as of 30 June 2021
  • Successful €600 million green bond issue earlier in the year

1 inclusive of Joint Ventures at 100%. Additional signed and renewed rental income of €22.7 mm with total of €205.7mm as of 30th June 2021

2 Delivered 5 projects with 81,000 m² of lettable area during 1H 2021

4

Resilient financial performance

  • Strong growth of total portfolio value1
    Driven by portfolio growth and yield compression across regions
  • Continued growth in committed annualised rental income1
    Several iconic parks being brought to market
  • Record net profit
    Despite one-off forward sale of VGP Park München positively affected 1H 2020
  • Earnings per share impacted by last year's share issuance

1 Including JVs portfolio at 100%

€4,480m

€3,231m

+39%

1H20 1H21

€205.7m

€165.2m

+25%

1H20 1H21

€196.9m€203.8m

+3.3%

1H20 1H21

€10.19 €9.90

-2.8%

1H20 1H21

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

VGP NV published this content on 31 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2021 06:21:05 UTC.


ę Publicnow 2021
All news about VGP NV
01/11VGP : Company Presentation Jan 2022
PU
01/10VGP Sells $1.1 Billion Green Bonds in Two-Tranche Deal
MT
01/10VGP NV : Successfully Issues Ç 1.0 Billion Senior Unsecured Green Bonds Across Two Tranche..
AQ
01/05Belgium's VGP Forecasts Higher Levels of Development in 2022
MT
01/05VGP NV : Pan European Expansion and Stronghold Germany Lead to an Absolute Record in Leasi..
AQ
01/04Allianz, VGP Take On European Logistics Sector With New Joint Venture
MT
01/04VGP, Allianz Real Estate Form $3.2 Billion Logistics Joint Venture
MT
01/04VGP NV : Allianz and VGP expand relationship with new European logistics joint venture
AQ
01/04Allianz Real Estate and VGP Expand Relationship with New European Logistics Joint Ventu..
CI
01/03VGP NV : Crossing thresholds
CO
More news
Financials
Sales 2021 41,0 M 46,4 M 46,4 M
Net income 2021 422 M 477 M 477 M
Net Debt 2021 1 139 M 1 288 M 1 288 M
P/E ratio 2021 12,1x
Yield 2021 1,60%
Capitalization 5 404 M 6 127 M 6 110 M
EV / Sales 2021 160x
EV / Sales 2022 75,4x
Nbr of Employees 300
Free-Float 34,9%
Chart VGP NV
Duration : Period :
VGP NV Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VGP NV
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 247,50 €
Average target price 245,00 €
Spread / Average Target -1,01%
EPS Revisions
Managers and Directors
Jan van Geet Chief Executive Officer & Executive Director
Dirk Stoop Chief Financial Officer
Bart van Malderen Chairman
Miquel-David Martinez Chief Technical Officer
Ann Gaeremynck Independent Director