W.E.B. - Q3 2023 results
9M gross rent is up 9.7% YoY at EUR 16.9m, with occupancy increasing to 96.2%.EPRA EPS lands at EUR 2.70 p.s. (-4.2% YoY) due to an EUR 400k provision.Leverage increased slightly to 47.7%, EPRA NYI stands at 6.31%.We reiterate our ‘Hold' rating and EUR 39.00 TP.Warehouses Estates Belgium SCA is a Belgium-based real estate investment trust, mutual fund. It mainly invests in commercial, office, semi-industrial and industrial buildings. The Company has rental agreements with public administrations, international and national companies. Warehouses Estates Belgium SCA has a property portfolio in Anderlues, Berchem, Binche, Charteroi, Couillet, Courcelles, Eupen, Fleurus, Gosselies, Jumet, Leuze, Lodelinsart, Marchienne-au-Pont, Nalinnes and Naninne, Jette and Ypres. The Company's tenants are Media Markt, Cedicora, Rackstore, Tractebel Engineering, Forever Products, Michelin Belux, Intercarrelages, Eupener Karting, Tercel Oilfield Products Belgium and Hainaut Caravaning Center, among others.
We are an investment house with Belgian roots founded on more than 150 years of trust.
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