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Wereldhave Belgium (WEHB) investor relations material
Wereldhave Belgium H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered a solid first half of 2026, with net rental income up 18.9% to €43.6M year-over-year, and a 1.7% uplift in investment property value.
Successfully integrated Shopping Ville2 in Charleroi, including the acquisition of its supermarket unit, and continued strong operational momentum across the portfolio.
Signed 43 leases/renewals at rents averaging 10% above market and 4% above previous levels, with footfall outperforming the Belgian market.
Maintained a healthy EPRA debt ratio of 34.0% and confirmed full-year guidance for net result from core activities of €5.20–€5.30 per share.
Financial highlights
Net rental income rose 18.9% to €43.6M (H1 2025: €36.7M); net result increased to €34.4M (H1 2025: €25.4M).
Net result from core activities: €28.6M (H1 2025: €24.6M); non-core activities: €5.8M (H1 2025: €0.8M).
Net result per share: €3.01 (H1 2025: €2.70); net asset value per share: €71.86 (Dec 2025: €73.00).
EPRA occupancy rate: 96.7% (Dec 2025: 97.3%); retail portfolio occupancy: 97.9%.
Shareholders’ equity: €821.6M; total investment properties: €1,242.5M.
Outlook and guidance
Full-year 2026 guidance for net result from core activities maintained at €5.20–€5.30 per share.
Guidance subject to caution due to macroeconomic uncertainties (geopolitical tensions, interest rates, inflation).
- Net result surged to €62.5M on strong property revaluations, with guidance for 2024 maintained.WEHB
H1 2024 - Q3 2024 delivered strong rental growth and high occupancy, with guidance reaffirmed.WEHB
Q3 2024 TU - Net result from core activities rose 3.8%, with occupancy and dividend both increasing.WEHB
H2 2024 - Strong Q1 growth driven by portfolio expansion and higher rental income, with guidance raised.WEHB
Q1 2025 TU - Net rental income up 15.2% and core net result per share up 16.2%, guidance maintained.WEHB
H1 2025 - Strong Q3 performance with 16.3% rental income growth and robust retail occupancy at 98.1%.WEHB
Q3 2025 TU - Net rental income up 23% and net asset value per share rises, with 2026 guidance maintained.WEHB
Q1 2026 TU - Core net result up 17.4% and portfolio value up 22.8% on strong acquisitions and leasing.WEHB
H2 2025
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Next Wereldhave Belgium earnings date
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