Strong demand for premium European logistic assets drives annual results

28 February 2020, 7:00am, Antwerp (Berchem), Belgium: VGP NV (‘VGP’ or ‘the Group’), a leading European provider of high-quality logistics and semi-industrial real estate, today announces the results for financial year ended 31 December 2019: 

• Record net profit of €205.6 million, a 69.8% YoY increase
• Solid business growth across European portfolio
  • Record signed and renewed rental income of €54.9 million, bringing total signed rental income to € 155.0 million, a 48.9% YoY increase
  • 34 buildings with 706,000 m² under construction at year-end
  • Owned and secured land bank of 6.21 million m² – a 39.6% YoY increase
  • Delivered 19 projects with 287,000 m² of lettable area, representing €15.8 million of annualised committed leases
  • Start of construction of landmark VGP Park Munich project with several other iconic projects in the pipeline, including Laatzen and Magdeburg
• Launched second joint venture with Allianz Real Estate and completed three successful joint venture transactions for a total transaction value of €610 million
• Successfully completed a € 150 million bond offering and arranged several multi-year bilateral credit facilities
• Intention to propose to the Annual Meeting of Shareholders a distribution of a gross dividend of
  € 60 million which equates to € 3.25 per share – a 47.7% YoY increase