Key Figures

in thousands of €

Investment Properties1H 2018201720162015201420132012
Own portfolio
TOTAL LETTABLE AREA (m2) 320,122 445,958 416,158 548,838 268,232 761,724 674,595
OCCUPANCY RATE (%) 99.2% 100.0% 97.0% 97.3% 94.0% 96.2% 94.5%
FAIR VALUE PROPERTY PORTFOLIO 515,932 627,737 682,525 677,084 416,089 225,804 101,629
 

VGP European Logistics portfolio (100%)
TOTAL LETTABLE AREA (m2) 1,269,614 830,877 593,454
OCCUPANCY RATE (%) 99.4% 100.0% 100.0%
FAIR VALUE PROPERTY PORTFOLIO 1,291,244 935,435 594,198
balance sheet1H 2018201720162015201420132012
SHAREHOLDERS´ EQUITY 505,711 466,230 390,305 361,978 215,417 166,057 151,260
GEARING
   NET DEBT/SHAREHOLDERS´EQUITY 0.70 0.94 0.87 0.71 0.72 0.55 N.A.
   NET DEBT/TOTAL ASSETS 33.8% 42.3% 39.4% 35.7% 33.2% 24.9% N.A.
INCOME STATEMENT - ANALYTICAL FORM1H 2018201720162015201420132012
GROSS RENTAL INCOME 8,970 17,046 16,806 17,073 9,596 4,613 3,071
PROPERTY OPERATING EXPENSES AND NET SERVICE CHARGE INCOME /(EXPENSES) (981) (1 053) (668) (550) (1,082) (818) (780)
NET RENTAL AND RELATED INCOME  7,989 15,993 16,138 16,523 8,514 3,795  2,291
PROPERTY, FACILITY MANAGEMENT AND PROPERTY DEVELOPMENT INCOME 4,585 8,057 3,825 2,547 3,407 3,875 2,724
NET VALUATION GAINS/(LOSSES) ON INVESTMENT PROPERTY 61,734 94,628 118,900 103,981 53,920 27,872 12,347
OTHER INCOME/(EXPENSES) INCL. ADMINISTRATIVE COSTS (8,025) (20,241) (16,778) (13,998) (7,089) (4,850) (4,418)
SHARE IN THE RESULTS OF JOINT VENTURE AND ASSOCIATES 24,777 29,229 7,897 191 14,473 1,526 (1,615)
OPERATING PROFIT 91,060 127,666 129,982 109,244 73,225 32,218 11,329
NET FINANCIAL RESULT (6,083) (10,466) (16,906) -10,154 -7,675 702 2,902
TAXES  (10,188) (21,205) (21,790) (12,529) (16,191) (8,618) (2,652)
PROFIT OF THE YEAR  74,789 95,995  91,286  86,561  49,359  24,302  11,579 

 

BREAKDOWN OF PORTFOLIO AS AT 30 JUNE 2018 (JV at 100%)

                                                               

No. of parks  
Land area
 (‘000 m²)   
LETTABLE AREA (in thousands m2                                                                                                                                     
Completed
                      

Under
Construction
             

Remaining
Potential  

Total GLA
                       

Total GAV
(€ millions)     
                                                         

Germany 21 3,119 m² 812 m² 168 m² 437 m² 1,416 m² €1,019.8
Czech Republic 15 2,094 m² 334 m² 104 m² 459 m² 896 m² € 343.0
Spain 3 577 m² 204 m² 84 m² 197 m² 485 m² € 248.5
Slovakia 2 640 m² 69 m² 18 m² 215 m² 302 m² € 56.3
Hungary 2 207 m² 74 m² 0 m² 12 m² 86 m² € 57.5
Romania 3 567 m² 86 m² 20 m² 164 m² 280 m² € 57.4
Latvia 1 148 m² 0 m² 62 m² 0 m² 62 m² € 24.6
Total 47  7,352m² 1,589 m² 455 m² 1,484 m² 3,528 m² € 1,807.2

Divided between Own (22 parks) and JV (25  parks). Three parks are owned by both Own and JV namely Berlin (Own: 5.1%/JV: 94.9%), Hamburg (Own: 5.1%/JV: 94.9%), and Olomouc (Own: 94.9%/ JV 5.1%)