WHA Wereldhave N.V.

Wereldhave updates on potential impact of the Dutch Government's Tax Plan 2023

Wereldhave updates on potential impact of the Dutch Government's Tax Plan 2023

Following the recently published intention of the Dutch Government to exclude direct investments in real estate from the Fiscal Investment Institutions (in Dutch ‘FBI’) regime as from 1 January 2024, Wereldhave has reviewed the potential impact of this proposed new measure on the Company and its business.

Although details around the newly proposed measures are still unclear, we indicatively assess the potential annual impact on the Company’s corporate income tax charge currently between € 3 and € 4 million. Using our 2022 direct result outlook, this would have an effect of approximately -5% on EPRA EPS. The ancillary measures announced by the Dutch Government, to allow real estate FBI's to restructure their businesses, may bring this percentage down.

The primary track for Wereldhave however remains to participate in a constructive discussion with the Dutch Government, to better understand their intentions and avoid adverse implications for portfolio investors in the Dutch listed real estate sector.



EN
28/09/2022

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Wereldhave N.V.

Lynn Hautekeete
  • Lynn Hautekeete

Wereldhave Initiation note: Daily Life, Lifetime Returns

Over a 1-year period Wereldhave had a total return of 49.0%, a 34.3% outperformance vs. the EPRA index. The timing of this initiation comes after the stock already re-rated. We expect Wereldhave to outperform the midpoint of its FY26 guidance by 3.7% and see the premium to peers as justified given the growth rate. We initiate with an Accumulate rating and €23.0 TP.

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

AEGON: Launch of Aegon Insurance Asset Management Company in China (tidying up). Basic-Fit: Solid final FY25; strong membership ingrowth in 1Q26 comfort on energy prices. CVC Capital Partners: Steady delivery. D'Ieteren: 2H25 beat on Auto, Belron delivering, PBT group guidance 7% below. UCB: Bimzelx demonstrates superiority to Skyrizi. Wereldhave: c.€5.6m acquisition of supermarket in Ville2, full ownership of the centre

 PRESS RELEASE

Wereldhave, through Wereldhave Belgium, acquires supermarket unit and ...

Wereldhave, through Wereldhave Belgium, acquires supermarket unit and completes ownership of shopping center Ville2 in Charleroi Wereldhave Belgium has reached an agreement with Equilis, acting on behalf of Fidagh SA, to acquire a supermarket anchor unit in shopping center Ville2 in Charleroi with a total gross lettable area of 2.712 m². Following the acquisition, the Wereldhave group will own 100% of the shopping center. The acquisition by Wereldhave Belgium is financed in cooperation with Wereldhave N.V. through a contribution in kind, whereby the seller will receive 263,061 in newly iss...

Francesca Ferragina ... (+2)
  • Francesca Ferragina
  • Michiel Vereycken

Behind the bricks/ING Real Estate Monthly – February roundup

This edition marks the launch of the ING Real Estate Monthly, your one-stop snapshot of what is moving in European real estate, with a focus on the Benelux.

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Allfunds Group plc: Business as usual. Basic-Fit: Good news - senior unsecured convertible bonds due 2028 put option waiver. D'Ieteren: Belgian February new car registrations down 7.7%, VW down 13.1% EVS: Analyst meeting feedback. Sif Group: Preview - order intake window rapidly closing. Wereldhave: €250m refinanced

ResearchPool Subscriptions

Get the most out of your insights

Get in touch