Report
Roy Külter ...
  • Steven Boumans

VGP NV : H1 2024 results: many levers to grow

>Operationally as expected, values bottomed - New and renewed leases: € 45.6m, of which €28.7 new leases, €7.7m indexation and -€3.1m in terminations (4M 2024: € 31.9m), bringing the annualised committed leases to €384.7m (4M 2024: € 376.2m), up +17.3% YoY (4M 2024: up +17.3%).Projects delivered: 264,000 sqm (4M 2024: 101,000 sqm).Projects under construction: 835,000 sqm, representing €56.8m in additional annual rent once fully built and let, being 70.1% pre...
Underlying
VGP NV

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Roy Külter

Steven Boumans

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