HomeLatest FeedsTechnology NewsThe logistics and industrial real estate service provider VGP had a successful...

The logistics and industrial real estate service provider VGP had a successful year last year



In Hungary, 59,000 square meters of real estate were handed over last year, and construction is still underway on another 100,000 square meters.

VGP closed a successful year, the company’s net rental income rose to 159.1 million euros last year, and its profit increased to 87.3 million euros, announced the European provider of logistics and light industrial real estate. The net profit of the VGP group was 87.3 million euros, which is an increase of 209.8 million euros compared to the 2022 financial year.

It was announced that the net rental income increased by 48 percent, from 107.4 million euros to 159.1 million euros. The company expects an additional increase of 41.3 million euros in 2024.

According to the information, the total acquired land stock at the end of 2023 was 9.4 million square meters, which means more than 4.3 million square meters of real estate development potential.

Within the group, Eastern Europe – primarily Romania, Slovakia, the Czech Republic and Hungary – accounted for 54 percent of the new leasing contracts, they added.

In Hungary, 59,000 square meters of real estate were handed over last year, and construction is still underway on another 100,000 square meters. For example, 28,000 square meters are under development in the VGP Park Budapest Aerozone, 38,000 square meters in the VGP Park Kecskemét, and 33,000 square meters in the VGP Park Győr.

In the announcement, it was mentioned that the company’s photovoltaic (PV) capacity increased by 79.9 percent on an annual basis, and already exceeds the value of 100 megawatts. A further 69 MW of PV projects are under construction and 99.7 MW are under planning.

The board of directors proposes an ordinary dividend of 80.5 million euros, as well as a proposed extraordinary capital replacement of 20.5 million euros. With this, the total annual gross dividend amounts to EUR 101 million, or EUR 3.70 per share.

VGP is a pan-European company that owns, manages and develops logistics and light industrial real estate, operating in 17 European countries. Last December, VGP’s gross asset value, including 100 percent of the joint ventures’ assets, was 7.19 billion euros, and the company’s net asset value was 2.3 billion euros. VGP’s shares are listed on the Euronext stock exchange in Brussels. VGP was established in 1998 as a Belgian family real estate developer in the Czech Republic.

Mr.Mario
Mr.Mario
I am a tech enthusiast, cinema lover, and news follower. and i loved to be stay updated with the latest tech trends and developments. With a passion for cyber security, I continuously seeks new knowledge and enjoys learning new things.

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