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Key Figures

Geographical Distribution

Type of building

Growth of portfolio

Commercial activities

The financial year of Retail Estates starts on 1 April and ends on 31 March, The key figures below are consolidated figures incorporating the subsidiaries.

 

Real state portfolio 31/03/2025 31/03/2024 31/03/2023 31/03/2022 31/03/2021
Number of retail properties 1023 1020 1013 987 992
Total lettable area in m² 1.231.205 1.228.576 1.211.004 1.177.577 1.153.448
Estimated fair value in EUR 2.069.537.304 2.038.317.000 1.888.562.000 1.759.879.000 1.717.245.000
Estimated investment value in EUR 2.179.677.298 2.134.531.000 1.983.204.000 1.833.757.000 1.789.397.000
Average rent price per m² 123,83 119,06 114,89 104,14 102,24
Occupancy rate 97,26% 98,10% 98,47% 97,81% 97,35%

 

Balance sheet information 31/03/2025 31/03/2024 31/03/2023 31/03/2022 31/03/2021
Shareholders' equity 1.230.021.301 1.174.361.000 1.104.064.000 920.980.000 808.223.000
Debt ratio (RREC legislation*, max 65%) 42.52% 44,62% 44,77% 49,15% 52,18%


 

Results (in thousands of €) 31/03/2025 31/03/2024 31/03/2023 31/03/2022 31/03/2021
Net rental income 142.176 138.829 125.401 115.579 100.402
Property result 139.359 136.431 123.482 113.504 98.738
Property charges -15.551 -16.340 -15.332 -10.524 -6.877
General expenses and other operating expenses and income -9.480 -8.473 -7.097 -6.050 -6.123
Operating property result before result on the portfolio 114.328 111.617 101.053 96.930 85.737
Result on the portfolio 29.787 50.425 51.460 22.096 -4.146
Operating result 144.115 162.043 152.513 119.026 81.592
Financial result -33.213 -38.059 22.723 16.158 -17.757
Net result 106.696 122.967 180.621 131.837 61.436
EPRA earnings (Group) 90.859 88.366 88.203 75.265 62.908


 

Information per share 31/03/2025 31/03/2024 31/03/2023 31/03/2022 31/03/2021
Number of shares 14.707.335 14.375.587 14.085.827 13.226.452 12.665.763
Number of shares entitled to dividend 14.707.335 14.375.587 14.085.827 13.226.452 12.665.763
Net asset value IFRS (€) 83,02 81,20 77,90 69,63 63,81
EPRA NAV (€) 80,87 78,15 73,78 68,46 65,84
Net asset value (investment value) excluding dividend excluding the fair value of authorized hedging instruments (€) 83,61 78,55 75,69 69,67 66,43
EPRA earnings per share (attributable to the shareholders of the parent company) (€) 6,21 6,18 6,34 5,84 4,97
Gross dividend per share (€) 5,10 5,00 4,90 4,60 4,50
Net dividend per share (€) 3,57 3,50 3,430 3,220 3,150
Gross dividend yield on closing price (excluding dividend) 8,46% 7,69% 7,53% 6,22% 7,71%
Net dividend yield on closing price (excluding dividend) 5,92% 5,38% 5,27% 4,36% 5,39%
Closing price on closing date (€) 60,30 65,00 65,10 73,90 58,40
Average share price (€) 62,50 60,95 65,02 68,84 57,26
Evolution of share price during the financial year -7,23% -0,15% -11,91% 26,54% 23,21%
Over-/undervaluation relative to net asset value IFRS -27,37% -19,95% -16,43% 6,13% -8,48%
Over-/undervaluation relative to EPRA NTA value -25,44% -16,83% -11,77% 7,95% -10,87%

* The Royal Decree of 13 July 2014 (the 'RREC R.D.'), last modified by the Royal Decree of 23 April 2018 in execution of the Law of 12 May 2014 (the 'RREC Law'), last modified by the Law of 22 October 2017 on regulated real estate companies (Belgian REITs).