Yesterday, WDP published the report of Q3 of 2017.
Here is a quick summary of this report:
▪ The EPRA Earnings for the first nine months of 2017 amount to 90.0 million euros, marking an increase of 19.3% over the first nine months of 2016 (75.5 million euros). The EPRA Earnings
per share for the first nine months of 2017 amount to 4.17 euros, an increase of 3.5% compared to the figure of 4.03 euros in the first nine months of 2016, including an increase of 15% in outstanding shares and a far lower gearing ratio (namely -6% year-on-year to around 53%) .
▪ The net result (IFRS) for the first nine months of 2017 amounts to 184.8 million euros, compared to 71.4 million euros in the first nine months of 2016, partially driven by an increase of the underlying value of the property portfolio in the first nine months of 2017 of 79 million euros (namely 4%). The net result (IFRS) per share for the first nine months of 2017 amounts to 8.56 euros, compared to 3.81 euros in the first nine months of 2016.
▪ The occupancy rate3 was 97.3% on 30 September 2017, compared to 97.0% on 31 December 2016. The average lease term (until the first termination date) in the WDP portfolio is 6.3 years
(including solar panels).
▪ On 30 September 2017, the gearing ratio amounted to 51.1%/52.5%, a decrease of around 6% compared to 57.1%/58.4% on 30 September 2016.
▪ The EPRA NAV5 was 55.9 euros on 30 September 2017, compared to 46.5 euros on 30 September 2016. The IFRS NAV was 53.9 euros on 30 September 2017, compared to 42.2 euros
on 30 September 2016.
▪ The total identified investment volume under the 2016-20 growth plan comes to approx. 550 million euros, which is over half of the planned investment volume of 1 billion euros. Half of
this package is complementary acquisitions and the other half is pre-leased new construction projects for new and existing clients, thanks to a strong commercial platform in the Benelux
region and Romania and WDP’s position as both a developer and long-term investor.
▪ WDP reaffirms its EPRA Earnings forecast of 5.50 euros per share for 2017. Based on this outlook, WDP intends to set a gross dividend of 4.50 euros for 2017, an increase of 6%.
▪ On 17 October 2017, WDP brought home the Entrepreneur of the Year® 2017 award. WDP views this recognition not only as a distinction for the company, but also for the entire sector
of listed real estate companies. Property companies like WDP are commercial enterprises adding value to the economy, not merely passive funds.
Read the full report here: WDP