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-
Gross Asset Value of VGP, including own portfolio and joint ventures at 100% as of 30 June 2021
Including JV portfolio at 100%
Refers to WAULT of JV and Own portfolio combined.
Started-upafter 1 January 2020.
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
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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.
VGP NV specializes in owning, developing and managing semi-industrial real estate assets located in Central Europe and Germany.
At the end of 2022, the group's real estate portfolio (including joint-ventures), with a total area of 4,301,000 m2, amounted in market value, to EUR 4,604.6 million (at share).
The geographic breakdown of the portfolio by value is as follows: Germany (54%), Czech Republic (13%), Spain (9%), the Netherlands (7%), Slovakia (4%), Hungary (3%), Romania (3%), Austria (2%), Italy (2%), and other (3%).