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Intervest Offices & Warehouses NV publishes Half-yearly Financial Report 2022

Intervest Offices & Warehouses NV
Intervest Offices & Warehouses NV

Intervest Offices & Warehouses NV publishes Half-yearly Financial Report 2022

EPRA earnings per share: € 0,92 for H1 2022, an increase of 11% year-on-year

Successful #connect2022 strategy in H1 2022:

  • € 92 million sustainable logistics acquisitions in Zeebrugge, Waalwijk (NL), Breda (NL) and Herstal creating clusters on strategic (maritime) axes

  • € 47 million sustainable investments in own (re)developments

  • start of the sale of non-strategic buildings (mainly offices) as part of a well-considered asset rotation

  • significant lease transactions increasing the WALB to 4,9 years (logistics 5,6 years; offices 3,1 years) and keeping the total occupancy rate stable at 94% (logistics 100%; offices 83%)

ESG in H1 2022: KPIs on track with #connect2022 strategy, ESG roadmap created and Green Finance Framework implemented

Future value creation: 405.000 m² of (potential) projects with a property value of approximately € 485 million

Share price: Intervest share significantly outperforms EPRA Eurozone

Solid basis through strategic presence in two real estate segments (logistics and offices), through sectoral distribution of tenants, sufficient investment space and strong financial results

Guidance:

  • expected EPRA earnings per share for 2022 between € 1,71 and € 1,74

  • target gross dividend of at least € 1,53 per share, this represents a gross dividend yield of 6,1% based on the closing price as at 30 June 2022

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