Results Waddinxveen approved by Jo 1
  • Results

Financial results

We delivered on our financial ambitions for 2023 with EPRA earnings per share up 9% to €4.45. On a one-off basis, we were able to add a further €0.45 cents in 2023. A successful capital increase reduced the EPRA debt ratio to 33.5%, strategically positioning us for future growth, not least through the roll-out of 1 million m² of our land bank. We therefore reaffirm our outlook for 2024-2025 and aspire to invest €200 million annually and as much as €260 million in 2024. 

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“A low debt ratio, a large land bank and an extremely strong team. We have everything we need to continue Montea's growth.”
Image profile picture Els Vervaecke
– Els Vervaecke
Chief Financial Officer Montea

Total area — property portfolio: 2023 - 2.0 mio m²

2022 - 1.9 mio m²

  • 2.0 mio m²

Fair value of our property portfolio: 2023 - € 2.3 billion

2022 - € 2.2 billion

  • € 2.3 billion

Average lease term: 2023 - 6.5 years

  • 6.5 years

Average lease term projects under construction: 2023 - 14 years

  • 14 years

EPS growth

€  3.75 2021
€  4.10 2022
one-off €0.45 €  4.45 2023

Land bank

Total 2,226,000 m²
Future development potential
1437000.00  m²
Projects in the pipeline
789000.00  m²
Already in progress/delivered
208000.00  m²

EPRA debt ratio

39.70 % 2022
33.50 % 2023

Average cost of debt: 2023 - 2.3%

2022 - 1.9%

  • 2.3%

EPRA NTA per share: 2023 - €74.38

2022 - €71.72

  • €74.38

Hedge ratio: 2023 - 97%

2022 - 96%

  • 97%

DPS growth

€  3.03 2021
€  3.30 2022
one-off €0.36 €  3.38 2023