Nextensa: NOTES OF THE BOARD OF DIRECTORS ON Q1 2023
15 Mai 2023 - 7:30AM
Nextensa: NOTES OF THE BOARD OF DIRECTORS ON Q1 2023
NOTES OF THE BOARD OF DIRECTORS ON Q1 2023
REGULATORY INFORMATIONBrussels, 15 May 202307.30
AM
HIGHLIGHTS• Result: net result
was €9.8 M or €0.98 per share.• Strong investment
portfolio: rental income increased by € 0.4 M in the first
quarter of 2023 compared to the first quarter of 2022, despite the
sales of several buildings in 2022. In particular, rental income in
Belgium increased significantly and primarily due to the
resumption of events at the Tour & Taxis site. The
like-for-like rental growth of +10% (+ €1.7 M) is also realized by
the indexation that is being felt in Belgium, Luxembourg and
Austria. This increase is expected to continue during 2023, with
the signing of several new leases in Belgium and Luxembourg.•
Active financial management: the rising interest
rates are largely tempered by the hedging strategy (hedge ratio of
70% at 31/03/2023) and by the continued implementation of the
strategy to reduce the debt position through well-targeted sales.
By reducing the debt ratio, rising interest rates have less
negative impact on results.• Successful portfolio rotation
with nice capital gains: The Treesquare building located
on the de Meeûssquare in the European district of Brussels was sold
in early Q2 to the German KGAL Investment Management for a net
price of €43.7 million, representing a capital gain of €2M and
a yield of 4.23%. This gain will be recognized in Q2 2023.•
Innovative developments: The operating result of
the development projects amounts to €5.6 M, being €1.1 M higher
compared to Q1 2022. Nearly half of the second phase of Park Lane,
comprising 346 apartments, has been reserved or sold. Nextensa has
also announced its intention to start the Lake Side project,
the final phase of the urban transformation on the Tour & Taxis
site, from 2025. Nextensa submitted the permit at the end of Q1 for
the development of some 140,000 square meters, with a largely
residential program. The new district will be completely free of
fossil fuels while also striving to minimize its ecological
footprint through a well-founded choice of building materials.•
Nextensa share: The accounting net asset value was
€84.9 per share at the end of Q1 while the share price has
fluctuated between €40 and €50 per share in recent
weeks.ABOUT NEXTENSANextensa NV is a mixed-use
real estate investor and developer.
The company’s investment portfolio is divided between the Grand
Duchy of Luxembourg (41%), Belgium (44%) and Austria (15%); its
total value as of 31/03/2023 was approximately € 1.29 billion.As a
developer, Nextensa is primarily active in shaping large urban
developments. At Tour & Taxis (development of over 350,000 sqm)
in Brussels, Nextensa is building a mixed real estate portfolio
consisting of a revaluation of iconic buildings and new
constructions. In Luxembourg (Cloche d’Or), it is working in
partnership on a major urban extension of more than 400,000 sqm
consisting of offices, retail and residential buildings. The
company is listed on Euronext Brussels and has a market
capitalization of €519.1 million (value 31/12/2022).FOR
MORE INFORMATIONMichel Van Geyte | Chief Executive
Officer Gare Maritime, Picardstraat 11, B505, 1000 Brussels+32
2 882 10 08 | investor.relations@nextensa.euwww.nextensa.eu
- EN_INTERIM STATEMENT Q1 RESULTS
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