VGP NV: Expected to Post Substantial Higher Net Profit for Full Year 2020
01 Februar 2021 - 7:00PM
VGP NV: Expected to Post Substantial Higher Net Profit for Full
Year 2020
PRESS RELEASE
Regulated Information
Antwerp, Belgium, 1 February 2021 (7.00 p.m. CET)
VGP NV (‘VGP’ or ‘the Group’), a leading
European provider of high-quality logistics and semi-industrial
real estate, today announced that, based on current preliminary
unaudited consolidated financials, the Group expects a net profit
for the full year 2020 of between € 355 million and € 375
million. This compares to a net profit of € 205.6 million for
full year 2019.
VGP’s Chief Executive Officer, Jan Van
Geet, said: “Our result is mostly driven by the large
volume of new, mostly pre-let, projects that were started in 2020,
spread across all the countries in which we operate.”
Jan Van Geet continued: “There is significant
market demand for new sustainable projects, both from industrial
and logistics clients, driven by new technological developments and
e-commerce. As a result of our substantial land bank, at top
locations, and with all the necessary permits, we can respond
quickly by offering short delivery times and a high degree of
certainty of execution. In addition, thanks to the good
locations, we see an increasing interest from our tenants for
last-mile logistics in our parks. Furthermore, we have
several prime landplots under purchase and our focus is shifting
more and more towards the development of parks on brownfield sites,
driven by their often strategic location and our desire to
contribute to nature conservation.”
Jan Van Geet concluded: “The year 2021 has
started very dynamically, despite the many uncertainties and
difficulties, we are convinced that 2021 can also be a good
year.”
All figures reported herein are preliminary and
unaudited. VGP will report its financial figures for the full
year 2020 on 26 February 2021 and a management conference call is
planned that same day to review the financial results (dial-in
details will be available on VGP website in due course).
CONTACT DETAILS FOR INVESTORS AND MEDIA
ENQUIRIES
Martijn Vlutters VGP – Investor Relations |
Tel: +32 (0)3 289 1433 |
Petra Vanclova VGP – External Communications |
Tel: +42 0 602 262 107 |
Anette NachbarBrunswick Group |
Tel: +49 152 288 10363 |
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking
statements. Such statements reflect the current views of management
regarding future events, and involve known and unknown risks,
uncertainties and other factors that may cause actual results to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. VGP is providing the information in this press release
as of this date and does not undertake any obligation to update any
forward-looking statements contained in this press release in light
of new information, future events or otherwise. The information in
this announcement does not constitute an offer to sell or an
invitation to buy securities in VGP or an invitation or inducement
to engage in any other investment activities. VGP disclaims
any liability for statements made or published by third parties and
does not undertake any obligation to correct inaccurate data,
information, conclusions or opinions published by third parties in
relation to this or any other press release issued by VGP.
ABOUT VGP
VGP is a pan-European developer, manager and
owner of high-quality logistics and semi-industrial real estate.
VGP operates a fully integrated business model with capabilities
and longstanding expertise across the value chain. The company has
a development land bank (owned or committed) of 7.48 million m² and
the strategic focus is on the development of business parks.
Founded in 1998 as a family-owned real estate developer in the
Czech Republic, VGP with a staff of over 230 employees today owns
and operates assets in 12 European countries directly and through
its joint ventures VGP European Logistics, VGP European Logistics 2
and VGP Park München. As of June 2020, the Gross Asset Value of
VGP, including the joint ventures at 100%, amounted to €3.23
billion and the company had a Net Asset Value (EPRA NAV) of €1,079
million. VGP is listed on Euronext Brussels and on the Prague Stock
Exchange (ISIN: BE0003878957).
For more information, please
visit: http://www.vgpparks.eu
- 2021.02.01_VGP - Net Profit Expectation press release-EN
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