Nextensa : RESULTS ON Q1 2024
REGULATED INFORMATION
Brussels, 21 May 2024, 07h30
NEXTENSA: RESULTS ON Q1 2024
HIGHLIGHTS
INVESTMENT PROPERTIES
• Despite some property sales in 2023 and 2024, rental income in Q1 is higher than in the same quarter last year.
• Realisation of like-for-like rental growth of +4.5% in the first quarter of 2024 compared to 2023.
• New lease agreement for the Moonar park with Regus (about 1,500 sqm), bringing the park’s lettings to about 80%.
• In early February 2024, the retail property of approximately 4,200 m² on rue du Brill in Foetz, Luxembourg was sold to a local investor at a price in line with the valuation, as recorded on 31/12/2023
DEVELOPMENT PROJECTS
• Tour & Taxis: of the apartments of the second phase of the Park Lane residential project, 60% have already been sold and 7% reserved.
• Cloche d’Or: the Emerald and White House office buildings have been completed and 100% let, thanks to a new lease agreement with PwC Luxembourg. A letter of intent was signed with a tenant for the new Stairs office project (9,200 m²), which has already started. The B&B hotel will be completed in June 2025. Residential sales at Cloche d’Or continue to be delayed.
ACTIVE FINANCIAL MANAGEMENT
The average cost of funding falls slightly from 2.67% to 2.64%, thanks to the hedging policy.
NET RESULT
Net result (group share) amounts to €7.0M or €0.70 per share entitled to dividends.
REALISATION OF SALE HYGGE OFFICE BUILDING
Realisation of sale in mid-May of the shares in the company owning the ‘Hygge’ office building in Luxembourg City to a Luxembourg investor.
FOR MORE INFORMATION
Tim Rens | Chief Financial Officer
Gare Maritime, Rue Picard 11, B505, 1000 Brussels
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ABOUT NEXTENSA
Nextensa is a mixed-use real estate investor and developer.
The company’s investment portfolio is divided between the Grand Duchy of Luxembourg (43%), Belgium (42%) and Austria (15%); its total value as at 31/03/2024 was approximately € 1.3 billion.
As a developer, Nextensa is mainly active in shaping large urban developments. At Tour & Taxis (development of more than 350,000 m²) in Brussels, Nextensa is building a mixed use district consisting of a revaluation of iconic buildings and new construction. In Luxembourg (Cloche d’Or), it is working in partnership on a major urban extension of more than 400,000 m² consisting of offices, retail and residential.
The company is listed on Euronext Brussels and has a market capitalisation of €445M (value 31/03/2024).
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