VGP confirms continued strong growth

Committed annualised rent income up by 25% to EUR 18.7 million

The group continued its strong growth in committed annual rent income which increased from EUR 15.0 million as at 31 December 2007 to EUR 18.7 million as at 31 March 2008. The committed annual rent income represents the annualised rent income generated or to be generated by executed lease – and future lease agreements. 

Gross rental income

In the first quarter of 2008 VGP achieved gross rental income of EUR 2.1 million, an increase of 190%.

The increase is due to the continued impact of completed projects delivered during the financial year 2007 and the start up of new lease contracts for completed projects during the first quarter of 2008.

First quarter ending 31 March (In EUR million)     2008       2007          Variance
Gross rental income                                                 2.1          0.7              190%


Start-up of construction of new buildings

VGP has started up a construction of 5 new buildings in the VGP Park Horni Pocernice and has also started up with the construction of an additional 5 new buildings in its other business Parks , VGP Park Hradec Králové, VGP Park Olomouc, VGP Park Liberec, VGP Park Nýřany (all locations in the Czech Republic), and in VGP Park Malacky (Slovakia).

The above construction represents a total size of more than 120,000m² of future lettable area and the major part of the new constructions are pre-let.

0utlook
VGP remains very confident for 2008.

  Trading release1Q 2008 EN

  Trading release 1Q 2008 NL

  Trading release 1Q 2008 FR