VGP NV: Expected to Post Substantial Higher Net Profit for First Half 2020
05 Agosto 2020 - 1:00PM
VGP NV: Expected to Post Substantial Higher Net Profit for First
Half 2020
PRESS RELEASE Regulated Information
05 August 2020 (06.00 p.m. CET), Antwerp
(Belgium): 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
condensed consolidated financial statements which are still subject
to its auditor’s limited review, the Group expects a net profit for
the half year ended 30 June 2020 of between €180 million and €200
million. This compares to a net profit of €75 million for the
half year ended 30 June 2019.
VGP’s Chief Executive Officer, Jan Van
Geet, said: “We are very pleased with the performance and
the expected net profit for the first half of 2020, which results
from the very strong letting performance over the last 18 months.
During the first half we have focused on our project management
with 795,000 m² of new projects under construction at the end of
June 2020, of which the bulk will be delivered during the next 12
months.”
Jan Van Geet concluded: “Overall, the impact of
the coronavirus pandemic on our operational activities has
remained limited so far but we will remain vigilant as COVID-19 is
not yet behind us.”
All figures reported herein are preliminary and
subject to auditor’s limited review. VGP will report its
financial figures for the half year ended 30 June 2020 on 24 August
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 an development land bank (owned or committed) of 6.2
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 circa 220
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
December 2019, the Gross Asset Value of VGP, including the joint
ventures at 100%, amounted to €2.77 billion and the company had a
Net Asset Value (EPRA NAV) of €741 million. VGP is listed on
Euronext Brussels and on the Prague Stock Exchange (ISIN:
BE0003878957).For more information, please
visit: http://www.vgpparks.eu
- 2020.08.05_VGP - Net Profit Expectation Half Year Results
2020_EN
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