Intervest Offices & Warehouses NV: Interim Statement Third Quarter 2021
Realization of important milestones in strategic growth plan #connect2022
through focus on active rental policy and sustainable value creation via
in-house (re)developments, resulting in a solid foundation for the future
Solid financial results
EPRA earnings per share of € 1,30 for 9M 2021, +10% compared to 9M 2020
Increase of previously communicated expected EPRA earnings per share for 2021 from € 1,65 - € 1,68
to € 1,70 - € 1,72Confirmation of target gross dividend of € 1,53 for 2021, at the same level as in 2020
Focus on active rental policy results in strong key figures
Occupancy rate of total real estate portfolio: + 1% to 94%
Organic growth of rental income: 5%
Major rental transactions in logistics portfolio in Genk, Herentals, Herstal, Oevel and Eindhoven
Investments as foundation for future value creation
Focus on future development potential and futureproof modernization of the existing portfolio
Increase in fair value of investment properties with € 97 million or 9,5%
Solid basis for the future
Two real estate segments, diversified tenants, strong balance sheet and sufficient investment capacity due to € 120 million unused credit lines
Realization of 25% growth in real estate portfolio since 2019
Future potential increase in value over a period Q4 2021 – 2025 between € 238 – € 281 million through (re)development projects
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