VGP NV : 10M 2024 trading update: a minor slowdown in leasing; a small increase in developments and pre-lets: that is a relief given the weak share price
>Leasing decelerated slightly, projects U/C and pre-letting up slightly - New and renewed leases: € 64.9m (H1 2024: €45.6m) for 10M24, of which €39.6 new leases, €8.1m indexation, €1.1m amendments and 5.4m in termination, bringing the annualised committed leases to €394.3m (H1 2024: € 384.7m), up +12.4% YoY (H1 2024: up +17.3%). In addition, VGP agreed for >€16m in rental income on new leases since 31 October 2024, increasing annualised leases to >€410m to date (+16.8...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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