Wereldhave Belgium - Decent 1H23 results and Deputy CEO appointment
Net rents landed at EUR 31.8m (up 12% YoY).Occupancy is stable at 94.9% despite a drop in retail occupancy from 97.7% in December 2022 to 96.4% in June 2023, thanks to an improvement in office occupancy (86.2% vs 81.5% as of the end of 2022).Direct EPS is up 2.5% to EUR 2.40 per due to the higher cost of financing.Portfolio valuation is slightly up at EUR 937.7m (+0.3%).IFRS NAVPS is down -3% to EUR 76.62 (vs. EUR 78.99 as of 2022).Wereldhave Belgium is a real estate investment fund engaged in the investment in and the development and management of commercial property. Co. invests primarily in offices and shopping centers, as well as developmental projects for the future. As of Dec. 31, 2011, Co. owned 16 properties comprising 152,140 square meters of rentable area throughout Belgium.
We are an investment house with Belgian roots founded on more than 150 years of trust.
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