At the 10m25 update, VGP gave optimistic guidance on its pipeline and JV closings as it completes projects over 2H25 and 1H26. VGP differs from most REITS due to its JV-structure. Initially it develops for its own portfolio and recycles the capital afterwards by selling into a JV. Hence, VGP realises valuation gains in 2 stages. First, at the start of the asset construction as an unrealised gain estimated by experts (not included in EPRA EPS). Secondly, as the asset is transferred to a JV on the...
Automation and Energy investments increase the value per sqm of landbank. Tenants are inclined to sign longer lease contracts to protect their significant investments. We expect to see more large warehouse automation projects over the next 12-18 months as the ROI increases thanks to technological innovations. The decision process seems to take longer due to the size of the investments. We believe the logistic segment offers an interesting investment opportunity. WDP trades at only 3% premium...
Coty: Q1 earnings down sharply as expected, slightly more optimistic guidance for Q2|NIH attempts risky return to primary market|Sappi: EBITDA plummets in Q4 and the situation is unlikely to improve in the short term|Worldline presents its transformation plan and plans a capital increase of € 500m|Air Baltic: a new liquidity injection seems unavoidable|
Coty : Résultats T1 en net repli comme attendu, guidance légèrement plus optimiste pour le T2|NIH tente un retour risqué sur le marché primaire|Sappi : l’EBITDA s’effondre au T4 et la situation ne devrait pas s’arranger à court-terme|Worldline présente son plan de transformation et compte réaliser une augmentation de capital de 500 m EUR|Air Baltic: a new liquidity injection seems unavoidable|
Adecco: 3Q25 strong beat; outlook 4Q25 seems in line. Air France-KLM: Bit light but outlook unchanged. ArcelorMittal: In line 3Q25, supportive medium-term outlook. AMG: 3Q25 EBITDA beats by 5%, ‘only' modest FY guidance increase might disappoint. BAM Group: Maintains outlook as expected. CTP: Guidance at the lower end due to a missed deal in Romania. Strong operational trends continued. IMCD: 3Q showed pressure on gross margin. Kinepolis: US peer AMC; better revenues and EBITDA in ...
VGP reported strong leasing activity with €89.0m in new and extended leases for an annual contracted rental income of €461.3m, up 11.8% ytd. A total of €32.9m was signed during the last 4 months. The statement mentions a good spread of smaller new leases over different regions. Completions amounted to 409k sqm, on track for our 650k FY estimate. The current pipeline of 1,123k sqm shows an acceleration with 747k sqm new starts, already ahead of our FY estimate. The important data point of pre-let...
VGP Trading Update PRESS RELEASE Regulated Information 6 November 2025, 7:00 am, Antwerp, Belgium: VGP NV (‘VGP’ or ‘the Group’) today published its trading update for the first ten months of ‘25: A record of € 89.0 million new and renewed leases has been signed during the first ten months of ‘25 (of which € 32.9 million was signed during the past 4 months) bringing the annualised committed leases for the first ten months to € 461.3 million1 (+ € 48.7 million compared to 31 December 2024, which is +11.8% YTD). 47 projects under construction representing 1,123,000 sqm (of which 2...
VGP Trading Update PERSBERICHT Gereguleerde Informatie 6 november 2025, 7:00 uur, Antwerpen, België: VGP NV ('VGP' of 'de Groep') heeft vandaag haar handelsupdate voor de eerste tien maanden van 2025 gepubliceerd: In de eerste 10 maanden werd voor een record € 89,0 miljoen aan nieuwe en vernieuwde huurovereenkomsten ondertekend (waarvan € 32,9 miljoen in de afgelopen 4 maanden werd getekend), waardoor het jaarlijkse gecontracteerde huurinkomen op € 461,3 miljoen1 komt (+ € 48,7 miljoen vergeleken met 31 december 2024, ofwel +11,8% YTD). 47...
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