Financial results
Key figures
For a detailed calculation of the key figures see the lexicon and APM terminology document.
| Operational key figures | 31.12.2023 | | 31.12.2022 | 31.12.2021 | 31.12.2020 | 31.12.2019 |
|---|
| Fair value of investment properties (in millions €) | 1.420 | | 1.333 | 1.209 | 1.018 | 893 |
| Leasable space (in thousands m²) | 1.430 | | 1.259 | 1.111 | 1.046 | 946 |
| Yield on fair value available for lease* (%) | 6,4% | | 6,0% | 6,4% | 6,9% | 7,2% |
| Yield on fair value available for lease including estimated rental value on vacancy* (%) | 6,9% | | 6,7% | 6,8% | 7,4% | 7,7% |
| Average duration of lease agreements (up to first expiry date) (year) | 4,4 | | 4,9 | 4,3 | 4 | 4,3 |
| Occupancy rate entire portfolio (%) | 93% | | 90% | 94% | 93% | 93% |
| Occupancy rate office portfolio (%) | 85% | | 76% | 87% | 88% | 90% |
| Occupancy rate logistics portfolio Belgium (%) | 96% | | 96% | 99% | 95% | 94% |
| Occupancy rate logistics portfolio The Netherlands (%) | 96% | | 100% | 100% | 98% | 100% |
| Logistics to Office real estate ratio | 78/22 | | 27/73 | 32/68 | 37/63 | 39/61 |
* Yield is calculated as the ratio of contractual rents (whether or not increased by the estimated rental value of unoccupied rental premises) and the fair value of investment properties.
| Financial results - Group share | 31.12.2023 | | 2022 | 2021 | 2020 | 2019 |
|---|
| EPRA earnings (000 €) | 37.401 | | 45.467 | 45.176 | 40.355 | 46.820 |
| Result on disposals of investment properties | -4.733 | | 478 | 198 | 198 | 1.670 |
| Changes in fair value of investment properties | -810 | | -26.106 | 66.020 | 66.020 | 15.454 |
| Other result on portfolio | -2.793 | | 3.920 | -11.205 | -11.205 | -9.083 |
| Changes in fair value of financial assets and liabilities | -16.860 | | 32.257 | 4.217 | 4.217 | -2.311 |
| Minority interests regarding the above | -6.286 | | -4.302 | -6.306 | -6.306 | -2.654 |
| Net result - Group Share (000 €) | 5.918 | | 51.714 | 98.100 | 43.431 | 65.765 |
| Weighted average number of shares | 30.825.122 | | 26.664.878 | 25.983.006 | 25.164.126 | 24.516.858 |
| Net result per share (€) | 0,20 | | 1,94 | 3,78 | 1,73 | 2,68 |
| EPRA earnings per share (€) | 1,25 | | 1,71 | 1,74 | 1,6 | 1,91 |
| Gross dividend per share (€) | - | | - | 1,53 | 1,53 | 1,53 |
| Balance sheet data | 31.12.2023 | | 31.12.2022 | 31.12.2021 | 31.12.2020 | 31.12.2019 |
|---|
| Shareholders’ equity (000 €) | 708.039 | | 721.410 | 636.535 | 554.414 | 524.433 |
| Liabilities (000 €) | 766.136 | | 707.370 | 600.422 | 493.579 | 394.430 |
| Debt ratio (%) | 49,7% | | 48% | 45,00% | 42,99% | 39,00% |
| Number of shares at the end of the period | 30.825.122 | | 29.235.067 | 26.300.908 | 25.500.672 | 24.657.003 |
| Net value (fair value) per share (€) | 21,89 | | 23,72 | 23,67 | 21,46 | 21,25 |
| Share price (€) | 20,70 | | 19,24 | 28,20 | 22,55 | 25,60 |
| Premium (+) / discount (-) to net value (fair Value) (%) | -5,4% | | -19% | 19% | 5% | 20% |
