VGP SA

VGP

Equity

ISIN BE0003878957 / Valor 3576558

Euronext - Euronext Brussels (2024-12-24)

EUR 71.10+2.16%

VGP SA
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About company

VGP SA is a real estate company focused on developing and managing high-quality logistics and semi-industrial real estate. The company is dedicated to implementing sustainable measures as part of its sustainability strategy, with the goal of achieving carbon neutrality by 2025. VGP SA has set new and ambitious targets to further advance its commitment to sustainability in the coming years.

Summarized from source with an LLMView SourceSector: Finance

Annualized Rental Income

VGP SA expects to activate another €41.3 million of annualized rental income in 2024, supporting substantial growth in net rental income. This projection is part of their strategic plan to enhance revenue streams and ensure sustainable financial growth.

Joint Ventures and Cash Proceeds

The two new Joint Ventures will ensure continuous cash recycling to finance the development pipeline and will grow VGP SA's joint venture asset management services further. A minimum of €525 million of gross cash proceeds are expected based on commitments from their new Joint Venture partners in the Fifth and Sixth Joint Venture.

Debt Repayment

In 2023, VGP SA repaid €375 million of debts, leaving only one bond of €75 million that comes to maturity in 2024. This strategic debt management highlights the company's focus on maintaining a healthy balance sheet and reducing financial liabilities.

Divestment and Cash Proceeds

VGP SA has come to an agreement in February 2024 to divest its LPM Joint Venture, which generated approximately €170 million of cash proceeds. This divestment is part of their strategy to optimize their portfolio and generate liquidity for future investments.

Total Expected Gross Cash Proceeds

The total minimum expected gross cash proceeds for 2024 already amount to €830 million, including the €135 million drawdown on the new credit facility of the European Investment Bank. This substantial cash inflow covers all outstanding commitments in VGP SA's property and renewable energy developments, land acquisitions, debt repayments, and dividend for 2024.

Summarized from source with an LLMView Source

Key figures

-32.2%1Y

-68.6%3Y

-14.0%5Y

Performance

28.0%1Y

39.5%3Y

36.9%5Y

Volatility