WDP - In-line results, new growth plan announced
WDP posted an update in line with expectations, with EPRA EPS up 12% YoY partly driven by the strong +6% rental growth.Portfolio value declines remained highly contained (-0.5% in Q4), with portfolio EPRA NIY remaining at 5.3% (unch vs Q3, +26bps YoY). New growth plan #BLEND2027 announced, targeting EUR 1.5bn of investments through developments, acquisitions, internal growth and energy solutions. 2027 EPRA EPS stands at EUR 1.70 (+6% CAGR vs 2023). 2024 EPRA EPS guidance set at EUR 1.47 (+5% YoY, +8.9% YoY excl. FBI one-off), fully in line with our expectations (DPe EUR 1.47). Dividend at EUR 1.18 (+5%Warehouses De Pauw and its subsidiaries are engaged in investment in the Belgian semi-industrial property market. Co. is a closed-end property investment company which specializes in: development of storage and distribution premises; customized projects in line with the user's request; acquiring premises for customers who wish to engage in sale and leaseback transactions.
We are an investment house with Belgian roots founded on more than 150 years of trust.
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