VGP NV Income Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	98.64	73.7	69	51.23	18.27
Property Management Fees	52.06	32.67	26.93	21.54	21.3
Other Revenue	41.29	38.27	50.46	60.19	0.03
Total Revenue	191.99	144.64	146.39	132.96	39.61
Revenue Growth (YoY	32.74%	-1.20%	10.11%	235.67%	-5.79%
Property Expenses	9.94	6.02	5.53	8.22	2.88
Selling, General & Administrative	63.33	61.26	48.86	33.96	52.11
Other Operating Expenses	-	1.75	-	3	5
Total Operating Expenses	73.27	69.03	54.4	45.18	59.99
Operating Income	118.72	75.6	92	87.78	-20.38
Interest Expense	-52.82	-42.84	-34.5	-37.7	-20.86
Interest & Investment Income	31.66	50.17	33.99	17.31	12.32
Currency Exchange Gain (Loss)	-0.36	-0.24	0.07	-1.43	-0.79
Other Non-Operating Income	-2.37	-4.68	-5.6	-5.18	-3.32
EBT Excluding Unusual Items	94.82	78.01	85.96	60.77	-33.03
Gain (Loss) on Sale of Investments	-	54.48	-61.18	-106.12	186.67
Gain (Loss) on Sale of Assets	60.5	92.87	59.02	87.22	11.54
Asset Writedown	183.12	94.19	28.94	-184.45	598.73
Pretax Income	338.44	319.54	112.74	-142.58	763.9
Income Tax Expense	48	32.56	25.45	-20.04	113.85
Net Income	290.44	286.99	87.29	-122.54	650.06
Net Income to Common	290.44	286.99	87.29	-122.54	650.06
Net Income Growth	1.20%	228.77%	-	-	75.25%
Basic Shares Outstanding	27	27	27	22	21
Diluted Shares Outstanding	27	27	27	22	21
Shares Change (YoY)	-	-	22.32%	7.81%	3.69%
EPS (Basic)	10.64	10.52	3.20	-5.49	31.41
EPS (Diluted)	10.64	10.52	3.20	-5.49	31.41
EPS Growth	1.18%	228.77%	-	-	69.05%
Dividend Per Share	3.400	3.300	2.950	2.750	6.850
Dividend Growth	3.03%	11.86%	7.27%	-59.85%	87.67%
Operating Margin	61.84%	52.27%	62.84%	66.02%	-51.44%
Profit Margin	151.28%	198.42%	59.63%	-92.17%	1641.14%
EBITDA	129.45	84.21	97.92	92.26	-17.95
EBITDA Margin	67.43%	58.22%	66.88%	69.39%	-45.31%
D&A For Ebitda	10.73	8.61	5.92	4.48	2.43
EBIT	118.72	75.6	92	87.78	-20.38
EBIT Margin	61.84%	52.27%	62.84%	66.02%	-51.44%
Effective Tax Rate	14.18%	10.19%	22.57%	-	14.90%

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.