Report
Inna Maslova

VGP - 4M trading update

VGP posted reassuring figures, reflecting a solid letting activity and an acceleration in developments. Total development pipeline increases to 861,000 sqm, with 188,000 sqm added in the first 4 months of 2024. Following several JV closings as well as the sale of the Moerdijk land plot stake, the company boasts good financial position.‘Buy' reiterated.
Underlying
VGP NV

VGP NV is a Belgium-based real estate development company that constructs and develops industrial real estate and ancillary offices, which are rented out to clients on long term lease contracts. The Company operates in three business segments: the Development activities segment is focused on the identification and acquisition of the land and development of the infrastructure, the design of buildings, the coordination of architectural and engineering aspects, the administration to obtain the necessary permits, the tendering and coordination of the construction works, including site management, and the facility management of the real estate portfolio; the Property Management and Leasing services segment is responsible for managing the operation of the buildings, and the Facilities Management services segment is responsible for managing the operation of the buildings and performs all actions, such as maintenance services, waste management services and maintenance greenery, among others.

Provider
Degroof Petercam
Degroof Petercam

​We are an investment house with Belgian roots founded on more than 150 years of trust.

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Analysts
Inna Maslova

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