Real estate portfolio growth of 8% or € 52 million in line with the strategic growth plan based on the reorientation of the office portfolio and the expansion of logistics real estate.
As at 31 December 2017, the fair value of the total real estate portfolio amounted to € 663 million.
Acquisition of three logistics sites situated in Belgium: in Oevel, Aarschot and Zellik (53.000 m²).
The first step in the Netherlands: acquisition of a complex in Tilburg and a distribution centre in Raamsdonksveer (34.000 m²).
Development potential of approximately 250.000 m² logistics real estate pursuant to the selection of ‘Genk Green Logistics’ by the Flemish government as preferred bidder to redevelop the Ford site: negotiations for a contractual agreement with the Flemish government are ongoing.
Delivering of the newly-built distribution centre at Herentals Logistics 3.
Reorientation of the office portfolio continued by the redevelopment of Greenhouse BXL with third RE:flex. Construction work on schedule and commercialisation fully under way. First rental agreement for a period of 9 years signed. Purchase of empty building adjacent to Greenhouse BXL for extra parking in park area after demolition of existing building.
Ratio of 54% of logistics real estate and 46% office buildings as at 31 December 2017 (51% and 49%, respectively, at the end of 2016).
Occupancy rate of the real estate portfolio: 86% as at 31 December 2017; 91% without the Greenhouse BXL redevelopment project (91% as at 31 December 2016).
Occupancy rate of the office portfolio: 76% as at 31 December 2017; 85% without the Greenhouse BXL redevelopment project (86% as at 31 December 2016).
Occupancy rate of the logistics portfolio: 98% as at 31 December 2017 (96% as at 31 December 2016).
30 lease agreements were entered into or extended, representing 9% of the rental income, activity mainly in the logistics portfolio.
26 flexible contracts entered into for RE:flex and the managed offices in Mechelen and Berchem.
The fair value of the existing real estate portfolio (excluding acquisitions and divestments) decreased in 2017 by 1%.
EPRA earnings: € 1,58 per share based on a weighted average number of shares (€ 1,73 in 2016).
Gross dividend in accordance with the strategy announced: € 1,40 per share for financial year 2017 (€ 1,40 for 2016); gross dividend yield of 6,2%.
Strengthening of the shareholders’ equity by € 36 million through the acquisition of real estate by the contribution in kind and by the optional dividend with 55% of the shareholders opting for new shares.
Decrease in the financing costs: average interest rate of the financing is 2,6% in 2017 (3,1% in 2016).
Extension of the duration of the long-term financing to 4,6 years as at 31 December 2017 (2,9 years as at year end 2016).
Debt ratio: 44,6% as at 31 December 2017 (45,7% as at 31 December 2016).
Buffer of available credit lines for further growth: € 101 million.