Belgium · Delayed Price · Currency is EUR VGP NV Earnings Call Transcripts
Fiscal Year 2025
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Pre-tax profit rose 6% to EUR 338 million, with EBITDA up 28% and record new leases signed. The portfolio remains 98% let, with a strong pipeline and robust demand from e-commerce and defense sectors. JV expansion and a new Pan-European fund support future growth.
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Pre-tax profit rose 35% to EUR 208.6 million, with strong EBITDA growth and record leasing activity. Occupancy remains high, construction costs are under control, and the land bank expanded significantly. Outlook is positive with robust pre-let ratios and further asset transfers to JVs planned.
Fiscal Year 2024
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Net profit surged 229% to EUR 287 million, driven by strong rental and development activity, with record new leases and robust occupancy. The company expanded into the UK, doubled renewable energy output, and maintained a solid balance sheet with reduced leverage.
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Pre-tax profit surged 218% YoY to EUR 154.6 million, with net profit up 308%. Committed annual rental income exceeded EUR 390 million, occupancy remained above 99%, and liquidity surpassed EUR 1 billion. Management expects continued growth, supported by a robust pipeline and strong demand.