Report
Roy Külter ...
  • Steven Boumans

Wereldhave : H1 2024 results: Strong revaluations, weaker operational metrics and an unchanged outlook

>Outlook reiterated, weaker occupancy and lfl growth, positive revaluations - FY2024 outlook of direct result per/sh (DRSP) reiterated at € 1.75.Fair values continue to rise in H1 2024, being +1.4% for the Netherlands and +4.9% for Belgium (Q1 Belgium: +4.1%). Wereldhave continues to sign leases materially ahead of market rental levels (ERV), implying valuations could be too conservative.Like-for-like rental growth of +1.4% (Q1: 2.2% and 5% expected for FY20...
Underlying
Wereldhave N.V.

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.

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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