VGP NV: Expected to Post Substantial Higher Net Profit for Full Year 2019
28 Gennaio 2020 - 05:45PM
VGP NV: Expected to Post Substantial Higher Net Profit for Full
Year 2019
PRESS RELEASE
Regulated Information
Antwerp, Belgium, 28 January 2020 (5.45
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 2019 of between €190 million and €210
million. This compares to a net profit of €121 million for
full year 2018.
VGP’s Chief Executive Officer, Jan Van
Geet, said: “We are very pleased with the performance and
expected net profit for full year 2019. During the year we have
signed a record €53.3 million of annualized new lease agreements
which is propelling new development activities across the
portfolio. Further we are very confident for the outlook for 2020
as we continue the implementation of our pan-European
roll-out.”
All figures reported herein are preliminary and
unaudited. VGP will report its financial figures for the full
year 2019 on 28 February 2020 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 leading 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 well-advanced development land bank of 7.0 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 200 employees today owns
and operates assets in 12 European countries directly and through
VGP European Logistics and VGP European Logistics 2, both joint
ventures with Allianz Real Estate. As of June 2019, the Gross Asset
Value of VGP, including the joint venture at 100%, amounted to €2.2
billion and the company had a Net Asset Value (EPRA NAV) of €604
million. VGP is listed on Euronext Brussels and on the Prague Stock
Exchange (ISIN: BE0003878957).
For more information, please
visit: http://www.vgpparks.eu
- VGP - Net Profit Expectation press release - 280120 - EN
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