VGP NV - Half-year financial results

RECORD AMOUNT OF NEW LEASE CONTRACTS SOLIDIFIES PATH OF CONTINUED FUTURE GROWTH

VGP NV (‘VGP’ or ‘the Group’), a leading European provider of high-quality logistics and semi-industrial real estate, today announces the results for half-year ended 30 June 2019:

• Solid operating performance resulting in a net profit of € 75.0 million
  • Signed and renewed lease agreements corresponding to € 27.0 million of annualised rent income bringing the total annualised rental income to € 129.3 million (+24% YTD)[1]
  • Delivered 175,000 m² of lettable area in first half of 2019
  • 480,000 m² under construction as of 30 June 2019
  • After the reporting period end a milestone project near Munich was announced with the development of a new park which is completely pre-let with 250,000 m² of lettable space
• Significant strengthening of platform for future growth
  • VGP invested in its future pipeline with 1.7 million m² of new land bought
  • A further 2.24 million m² committed subject to permits
• Announced broadened partnership with Allianz through the launch of second 50:50 Joint Venture on 1 July 2019
  • VGP European Logistics 2 is an investment vehicle targeting core logistics assets in Austria, Italy, the Netherlands, Portugal, Romania and Spain[2]

Full press release (ENG)