Press Information

09. 05. 2014

 

Committed annualised rent income reaching € 11.9 million

During the first quarter of 2014, VGP continued to record a healthy growth in the signing of new lease agreements which resulted in an increase of the committed annualised rent income to € 11.9 million (compared to € 10.4 million as at the end of 2013).

The committed annualised rent income represents the annualised rent income generated or to be generated by executed lease – and future lease agreements.

The Group's property portfolio improved slightly and reached an occupancy rate of 97.2% at the end of March 2014 (excluding the associates) compared to 96.9% as at 31 December 2013. The occupancy rate of the associate's portfolio fell slightly to 94.0% at the end of March 2014 (compared to 96.0% at the end of 2013).

The signed committed lease agreements represent a total of 231,934 m² of lettable area with the weighted average term of the committed leases standing at 7.7 years at the end of March 2014 compared to 7.6 years as at 31 December 2013.

Expansion of land bank

During the first quarter of 2014 VGP continued to expand its land bank in Germany and acquired a 537,000 m² land plot in München to create a new VGP Park and a 47,000 m² land plot in Höchstadt (near Nürnberg) where a 10 year pre-let with a blue chip company has been signed.

A number of additional land plots in Germany, Czech Republic and Estonia are currently under negotiation and it is expected that additional land plots will be secured and acquired during the following months.

At the end of March 2014 the total secured land bank amounts to 2,817,771 m² of which 2,633,186 m² is in full ownership. This brings the balance of owned / total secured land to 93%. The land bank allows VGP to develop besides the current completed projects and projects under construction (in total 329,730 m²) a further 888,000 m² of lettable area of which 582,000 m² in Germany, 106,000 m² in the Czech Republic, and 200,000 m² in the other countries.

Evolution of the property portfolio

Completed projects

During the first quarter VGP delivered 3 buildings i.e. one building of 5,200 m² at VGP Park Usti nad Labem (Czech Republic) which is partially let; one building of 21,806 m² at VGP Park Nehatu (Estonia) which is fully let and one building of 6,400 m² at VGP Park Bingen (Germany) which is also fully let.

This brings the total investment property portfolio of completed buildings to 12 buildings representing 167,532 m² of lettable area.

Projects under construction

During the first quarter the construction of 4 new buildings was initiated representing a total future lettable area of 42,919 m². This brings the total buildings under construction to 12 buildings which are located as follows: In the Czech Republic: 1 building in VGP Park Hradek nad Nisou, 2 buildings in VGP Park Brno, 2 buildings in VGP Park Plzen and 1 building in VGP Park Tuchomerice, In the other countries: 1 building in VGP Park Malacky (Slovakia), 1 building in VGP Park Timisoara (Romania), 1 building in VGP Park Györ (Hungary), 1 building in VGP Park Nehatu (Estonia), and finally in Germany: 1 building in VGP Park Rodgau and 1 building in VGP Park Hamburg. The buildings under construction on which several pre-leases have already been signed, represent a total future lettable area of 162,199 m².

Buildings partially owned and managed through and on behalf of the associates

VGP partially owns through its associates another 58 buildings which represent 627,240 m² of lettable area and for which property and facility management services are provided by the VGP Group. At the end of March 2014 there were no buildings under construction on behalf of the associates.


For more information

Mr Jan Van Geet
CEO
Tel. +420 602 404 790
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.


Mr Dirk Stoop
CFO
Tel.+32 52 45 43 86
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.


21. 03. 2014

  • Profit for the year of € 24.3 million (+ € 12.7 million against 2012)
  • 50.2% growth in gross rental income (+ € 1.5 million) to € 4.6 million
  • 106.5% increase of committed annualised rent income to € 10.4 million as at the end of December 2013 (compared to € 5.0 million as at 31 December 2012)
  • The signed committed lease agreements represent a total of 206,572 m² of lettable area with the weighted average term of the committed leases standing at 7.6 years at the end of December 2013 (9.8 years as at 31 December 2012)
  • 11 projects under construction representing 152,514 m² of future lettable area, with 3 additional projects (32,210 m²) started-up after the end of December 2013
  • 958,000 m² of new development land acquired of which 803,000 m² located in Germany with another 769,000 m² land plots (705,000 m² located in Germany) targeted and already partially committed to expand land bank and support development pipeline
  • Net valuation gain on the investment portfolio reaches € 27.9 million (against € 12.3 million at the end of 2012)
  • The fair value of the investment property and the investment property under construction (the "property portfolio") as at 31
  • December 2013 increased with 122.2% to € 225.8 million (compared to € 101.6 million as at 31 December 2012)
  • Acquisition of the Czech facility manager SUTA s.ro.
  • Successful placement of 2 bonds i.e. on 12 July 2013 of 75 million bond
  • Distribution of a € 7.6 million capital reduction (€ 0,41 per share) to the shareholders on 16 January 2014
Read more

25. 11. 2013

VGP NV raises € 75 million with bond issue after first day

VGP announces that the public offer in Belgium for a retail bond has been closed, in consultation with the Lead Manager, KBC Bank NV, after
the first day of the subscription period because the maximum amount of € 75 million was largely achieved.

The Lead Manager received a total amount of subscriptions that is circa 3 times higher than the maximum issue amount expected of € 75 million.
For this reason, subscriptions will be reduced accordingly. The investors will receive more information in this regard via their financial intermediary.

The bonds will be issued on 6 December 2013 and will be admitted to trading on the regulated market of NYSE Euronext Brussels.

More information on this public offer is set forth in the prospectus dated 19 November 2013 approved by the Financial Services and
Markets Authority ("FSMA") and available at www.vgpparks.eu and www.kbc.be

 


20. 11. 2013

VGP NV announces that it makes a public offer in Belgium of retail bonds due 6 December 2018 for an expected amount of minimum € 40 million
and maximum € 75 million.

The fixed rate of the bonds is 5.10% (gross) per year.

The bonds will be issued in denomination of € 1,000. The subscription period runs from 22 November 2013 until and including 29 November
2013, subject to early closing. The issue date is planned on 6 December 2013. Application has been made for the bonds to be listed on the regulated market NYSE Euronext Brussels and to be admitted to trading on the regulated market of NYSE Euronext Brussels.

KBC Bank NV will act as sole manager and bookrunner for this issuance.

A full prospectus detailing the transaction and its terms, drawn up in English, as well as a Dutch and French translation of the summary of such prospectus, can be obtained free of charge as from 20 November 2013 (before opening of the stock exchange) from VGP NV's head office, and may be consulted as from 20 November 2013 on the VGP NV website (www.vgpparks.eu) and at KBC Bank NV in each KBC Bank office, with your KBC Private Banking relationship manager, through the KBC Telecenter (which can be reached at its phone number 078 152 153) and
on the website (www.kbc.be/vgp).

The proceeds of the bonds will be primarily used for investing in the land bank and the development pipeline in Germany.

more information

 


14. 11. 2013

The encouraging increase in demand for new lettable space observed during the first half of 2013 gained momentum during the third quarter of 2013. VGP recorded a significant increase in demand, not only in Germany where we are now firmly established, but also in most of our other parks i.e. especially in VGP's home market Czech Republic, in Estonia and in Romania. - read more

 


Press Contact

Petra Vanclová

VGP - industriální stavby s.r.o.


Červený dvůr
Jenišovice 59 CZ-468 33,
Czech Republic

+420 226 212 001