News & Reports

News

12. 04. 2016

The shareholders are hereby invited to attend the annual shareholders’ meeting of the Company which shall take place at the offices of Argo bcvba, at City Link – fifth floor, Posthofbrug 12, 2600 Antwerp, on Friday 13 May 2016 at 10:00 am, with following agenda and proposed resolutions:

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01. 03. 2016

VGP enters into 50/50 joint venture with Allianz Real Estate at the end of February 2016

  • The new joint venture will act as an exclusive take-out vehicle of the income generating assets developed by VGP and located in Germany, the Czech Republic, Slovakia and Hungary
  • The initial seed portfolio is being acquired by the joint venture at current market prices
  • Initial transaction value is in excess of € 500 million
  • The joint venture partners target to grow the joint venture exponentially (> € 1.5 billion) by exclusively acquiring income generating assets developed by VGP in the aforementioned geographic areas
  • This transaction ends a 24 month strategic exercise of VGP and will have a significant impact on the structure and evolution of the VGP Group for the future
  • VGP will continue to service the joint venture as asset-, property- and development manager
  • With Allianz Real Estate, VGP attracts a long term investor who thinks real estate throughout the economic cycles and which has the necessary financial resources to co-invest in the expansion of the logistic and semi-industrial real estate portfolio
  • The transaction allows VGP to further concentrate on its core development activities aimed at optimising shareholder value, without having to tap the capital markets

VGP’s Annual Results 2015 – A record year

  • Net profit for the year of € 86.6 million (+ € 37.2 million against 2014)
  • 68.2% increase of committed annualised rent income to € 38.0 million as at the end of December 2015 (compared to € 22.6 million as at 31 December 2014), with an additional € 2.0 million lease contracts being signed during the first weeks of 2015
  • The signed committed lease agreements at year end represent a total of 709,124 m² of lettable area with the weighted average term of the committed leases standing at 7.5 years at the end of December 2015 (7.8 years as at 31 December 2014)
  • 77.9% growth in gross rental income (+ € 7.5 million) to € 17.1 million
  • 18 projects delivered during the year representing 279,861 m² of future lettable area
  • 14 projects under construction representing 272,334 m² of future lettable area
  • 704,000 m² of new development land acquired during the year with another 1,042,000 m² land plots targeted and already partially committed to expand land bank and support development pipeline
  • Establishment of presence in Spain with the opening of a new office in Barcelona and with first substantial (223,000 m²) land plot secured and to be acquired subject to permits, allowing to potentially develop circa 179,000 m² of lettable area
  • Net valuation gain on the investment portfolio reaches € 104.0 million (against € 53.9 million at the end of 2014) The fair value of the investment property and the investment property under construction (the “property portfolio”) as at 31 December 2015 increased with 62.7% to € 677.1 million (compared to € 416.1 million as at 31 December 2014)
Download this file (VGP Annual Results 2015 EN - 01 03 16.pdf)Press Release_Annual Results 2015_EN (pdf)[Press Release_Annual Results 2015_EN (pdf)]150 kB
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31. 08. 2015

  • Profit for the period of € 32.2 million (compared to 30.0 million on a like for like basis[1] as at 30 June 2014)
  • 46.5% increase of committed annualised rent income to € 33.1 million (+ € 10.5 million compared to 31 December 2014)
  • 71.6% growth in gross rental income (+ € 2.9 million) to € 7.0 million
  • The signed committed lease agreements at year end represent a total of 614,477 m² of lettable area with the weighted average term of the committed leases standing at 7.9 years at the end of June 2015 (7.8 years as at 31 December 2014)
  • 8 projects delivered during the first half of 2015 representing 98,567 m² of lettable area
  • 19 projects under construction representing 322,014 m² of future lettable area
  • 954,000 m² of new development land plots committed to expand land bank and support development pipeline and which are expected to be acquired during the second half of 2015
  • Net valuation gain on the investment portfolio reaches € 48.1 million (against € 40.9 million at the end of June 2014)
  • The fair value of the investment property and the investment property under construction (the “property portfolio”) as at 30 June 2015 increased with 21.0% (+ € 87.4 million) to a record level of € 503.5 million compared to € 416.1 million as at 31 December 2014
  • Establishment of presence in Spain with the opening of a new office in Barcelona and with first offers on land initiated

[1] The net profit as at 30 June 2014 included the estimated € 13.4 million profit on the sale of the associates’ portfolio (VGP CZ I & IV and II). The sale of these portfolios was completed in October 2014.

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08. 05. 2015

Notice of annual shareholders' meeting

The shareholders are hereby invited to attend the annual shareholders' meeting of the Company which shall take place at the offices of Argo bcvba, at De Keyserlei 5/15, 2018 Antwerp, on Friday 8 May 2015 at 10:00 am, with following agenda and proposed resolutions:

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02. 03. 2015

  • Profit for the year of € 49.4 million (+ € 25.1 million against 2013)
  • 117.4% increase of committed annualised rent income to € 22.6 million as at the end of December 2014 (compared to € 10.4 million as at 31 December 2013), with an additional
  • € 1.3 million lease contracts being signed during the first weeks of 2015 and a further € 6.8 million lease agreements being under final negotiations
  • 108.0% growth in gross rental income (+ € 5.0 million) to € 9.6 million
  • The signed committed lease agreements at year end represent a total of 404,732 m² of lettable area with the weighted average term of the committed leases standing at 7.8 years at the end of December 2014 (7.6 years as at 31 December 2013)
  • 14 projects under construction representing 171,455 m² of future lettable area, with 3 additional projects (45,950 m²) being started-up during Q1-2015
  • 943,000 m² of new development land acquired of which 842,000 m² located in Germany with another 863,000 m² land plots targeted and already partially committed to expand land bank and support development pipeline
  • Net valuation gain on the investment portfolio reaches € 53.9 million (against € 27.9 million at the end of 2013)
  • The fair value of the investment property and the investment property under construction (the "property portfolio") as at 31 December 2014 increased with 84.3% to € 416.1 million (compared to € 225.8 million as at 31 December 2013
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17. 11. 2014

VGP continues its strong growth 

  • During 2014 VGP has now acquired circa 1 million m² of new development land
  • 117.1 % increase of committed annualised rent income since 31 Dec-13 to EUR 22.5 million (+ € 12.1 million)
  • Strong demand recorded from manufacturing companies

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During the third quarter of 2014 VGP continued to record strong growth in all the markets where the Group is active, with Germany growing
exponentially.

Since the beginning of 2014 VGP has expanded its land bank by securing 2.1 million m² of additional new development land of which 1.0 million
m² was already acquired during the year. These new land plots allow VGP to develop a further 450,000 m² of future lettable area.

The development activities and leasing activities are continuing to grow strongly, supported by the strong demand for new lettable space from manufacturing and logistic companies recorded especially in Germany and Estonia. Also in VGP's other markets a sound demand for lettable space is noticed.

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26. 08. 2014

  • Profit for the period of € 43.4 million (+ € 34.3 million against 1H 2013)
  • Sale of the remaining 20% stake of the VGP CZ I and VGP CZ II portfolios during the month of August 2014 creating substantial additional shareholder value
  • 105.3% growth in gross rental income (+ € 2.1 million) to € 4.1 million
  • 25.0 % increase of committed annualised rent income to € 13.0 million (+ € 2.6 million compared to 31 December 2013) The signed committed lease agreements represent a total of 252,288 m² of lettable area with the weighted average term of the committed leases standing at 7.1 years at the end of June 2014 (7.6 years as at 31 December 2013)
  • 8 projects under construction representing 121,148 m² of future lettable area
  • 584,000 m² of new development land acquired in Germany with another 238,000 m² land plots (152,000 m² located in Germany) targeted and already partially committed to expand land bank and support development pipeline
  • Net valuation gain on the investment portfolio reaches € 40.9 million (+ € 33.6 million against 1H 2013)
  • The fair value of the investment properties as at 30 June 2014 increased with 46.2% to € 330.2 million (+ € 104.3 million compared to 31 December 2013) 
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