Financial results

Key figures

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

Operational key figures31.03.201831.12.201731.12.201631.12.201531.12.2014
Fair value of investment properties (000 €)666.869662.539610.944634.416609.476
Leasable space (m²)794.896794.896705.068717.073674.156
Yield* (%) 7,3%7,6%7,9%7,6%
Yield if fully let* (%) 8,4%8,3%8,8%8,8%
Average duration of lease agreements (up to first expiry date) (year) 3,93,93,74,0
Occupancy rate (%)86%**86%**91%90%87%
Office to logistics real estate ratio46/5446/5449/5151/4955/45

* 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 91%.

Financial results

Q1 2018

2017

201620152014
EPRA earnings (000 €)6.69627.43029.04430.85923.038

Result on portfolio 

(000 €)

2.230-7.363-10.009-5.465-6.404

Changes in fair value of financial assets and liabilities

(ineffective hedges) (000 €)

2431.1191.547558-344

Net result

(000 €)

9.16921.18620.58225.95216.290
Weighted average number of shares18.405.62417.409.85016.784.52116.200.91114.672.873
Net result per share (€)0,501,221,231,601,11
EPRA earnings per share (€)0,361,581,751,901,57
Gross dividend per share (€)0,351,401,401,711,40
Balance sheet data31.03.201831.12.201731.12.201631.12.201531.12.2014
Shareholders’ equity (000 €)368.535359.366326.085321.736314.168
Liabilities (000 €)326.051320.052299.078326.663304.423
Debt ratio (%)43,7%44,6%45,7%48,2%46,6%
Number of shares at year-end18.405.62418.405.62416.784.52116.239.35016.143.906
Net value (fair value) per share (€)20,0219,5219,4319,8119,46
Share price (€)23,0522,4923,9024,3722,50
Premium (+) / discount (-) to net value (fair Value) (%)15%15%23%23%16%