Wereldhave - Solid results supported by resilient portfolio valuation
Rental income emerged at EUR 158m, up +12.1% YoY. On an LfL basis,net rents are up +7.9% YoY, driven by inflation but also impacted by higher bankruptcies and defaulting tenants.Occupancy is stable at 95.8%.Direct results landed at EUR 84.2m, up +5.6% YoY (+6.1% on a per-share basis at EUR 1.73), in line with the guidance (EUR 1.70-1.75).EPRA NTA is stable at EUR 21.90 per share (+0.8% YoY).The dividend proposal is at EUR 1.20 per share, up +3.4% YoY.The company will host a webcast at 10:00 CET today.Wereldhave is an independent international property investment company. Co. is principally involved in leasing out investment property under operating leases. Co.'s activities are spread over four property sectors and across six European countries - the Netherlands, Belgium, Finland, France, Spain and the United Kingdom - and three regions in the United States. Co. creates value by actively managing shopping centres, through sound timing in the purchase and sale of offices and residential property, and by developing its own property at cost. Co. is a closed-end investment company with variable capital.
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
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