Financial results
Key figures
For a detailed calculation of the key figures see the lexicon and APM terminology document.
| Operational key figures | 31.12.2022 | | 31.12.2021 | 31.12.2020 | 31.12.2019 | 31.12.2018 |
|---|
| Fair value of investment properties (in millions €) | 1.333 | | 1.209 | 1.018 | 893 | 867 |
| Leasable space (in thousands m²) | 1.259 | | 1.111 | 1.046 | 946 | 1.023 |
| Yield on fair value available for lease* (%) | 6,0% | | 6,4% | 6,9% | 7,2% | 7,4% |
| Yield on fair value available for lease including estimated rental value on vacancy* (%) | 6,7% | | 6,8% | 7,4% | 7,7% | 7,9% |
| Average duration of lease agreements (up to first expiry date) (year) | 4,9 | | 4,3 | 4 | 4,3 | 4,6 |
| Occupancy rate entire portfolio (%) | 90% | | 94% | 93% | 93% | 93% |
| Occupancy rate office portfolio (%) | 76% | | 87% | 88% | 90% | 88% |
| Occupancy rate logistics portfolio (%) | 97% | | 100% | 96% | 96% | 98% |
| Office to logistics real estate ratio | 27/73 | | 32/68 | 37/63 | 39/61 | 40/60 |
* 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 | 31.12.2022 | | 2021 | 2020 | 2019 | 2018 |
|---|
| EPRA earnings (000 €) | 45.467 | | 45.176 | 40.355 | 46.820 | 31.168 |
| Result on disposals of investment properties | 478 | | 198 | 198 | 1.670 | 5.364 |
| Changes in fair value of investment properties | -26.106 | | 66.020 | 66.020 | 15.454 | 22.307 |
| Other result on portfolio | 3.920 | | -11.205 | -11.205 | -9.083 | -5.661 |
| Changes in fair value of financial assets and liabilities | 32.257 | | 4.217 | 4.217 | -2.311 | -3.065 |
| Minority interests regarding the above | -4.302 | | -6.306 | -6.306 | -2.654 | 0 |
| Net result - Group Share (000 €) | 51.714 | | 98.100 | 43.431 | 65.765 | 34.114 |
| Weighted average number of shares | 26.664.878 | | 25.983.006 | 25.164.126 | 24.516.858 | 19.176.981 |
| Net result per share (€) | 1,94 | | 3,78 | 1,73 | 2,68 | 1,78 |
| EPRA earnings per share (€) | 1,71 | | 1,74 | 1,6 | 1,91 | 1,63 |
| Gross dividend per share (€) | - | | 1,53 | 1,53 | 1,53 | 1,40 |
| Balance sheet data | 31.12.2022 | | 31.12.2021 | 31.12.2020 | 31.12.2019 | 31.12.2018 |
|---|
| Shareholders’ equity (000 €) | 721.410 | | 636.535 | 554.414 | 524.433 | 477.208 |
| Liabilities (000 €) | 707.370 | | 600.422 | 493.579 | 394.430 | 409.956 |
| Debt ratio (%) | 48% | | 45% | 42,99% | 39,00% | 43,50% |
| Number of shares at the end of the period | 29.235.067 | | 26.300.908 | 25.500.672 | 24.657.003 | 24.288.997 |
| Net value (fair value) per share (€) | 23,72 | | 23,67 | 21,46 | 21,25 | 19,62 |
| Share price (€) | 19,24 | | 28,20 | 22,55 | 25,60 | 20,60 |
| Premium (+) / discount (-) to net value (fair Value) (%) | -18,9% | | 19% | 5% | 20% | 5% |
