Financial results

Key figures

For a detailed calculation of the key figures see the lexicon and APM terminology document.

Operational key figures30.06.201831.12.201731.12.201631.12.201531.12.2014
Fair value of investment properties (000 €)726.655662.539610.944634.416609.476
Leasable space (m²)877.279794.896705.068717.073674.156
Yield* (%)7,4%7,3%7,6%7,9%7,6%
Yield if fully let* (%)8,2%8,4%8,3%8,8%8,8%
Average duration of lease agreements (up to first expiry date) (year)4,13,93,93,74,0
Occupancy rate (%)90%**86%91%90%87%
Office to logistics real estate ratio43/5746/5449/5151/4955/45

* 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.

** Without the Greenhouse BXL redevelopment project the occupancy rate amounts to 93%.

Financial results

Q2 2018


EPRA earnings (000 €)14.33127.43029.04430.85923.038

Result on portfolio 

(000 €)


Changes in fair value of financial assets and liabilities

(ineffective hedges) (000 €)


Net result

(000 €)

Weighted average number of shares18.510.30317.409.85016.784.52116.200.91114.672.873
Net result per share (€)1,151,221,231,601,11
EPRA earnings per share (€)0,771,581,751,901,57
Gross dividend per share (€)0,701,401,401,711,40
Balance sheet data30.06.201831.12.201731.12.201631.12.201531.12.2014
Shareholders’ equity (000 €)365.826359.366326.085321.736314.168
Liabilities (000 €)387.476320.052299.078326.663304.423
Debt ratio (%)48,4%44,6%45,7%48,2%46,6%
Number of shares at year-end18.891.44318.405.62416.784.52116.239.35016.143.906
Net value (fair value) per share (€)19,3619,5219,4319,8119,46
Share price (€)21,6522,4923,9024,3722,50
Premium (+) / discount (-) to net value (fair Value) (%)12%15%23%23%16%