VGP (VGP) Company presentation summary

Business overview and strategy

• Operates as a fully integrated industrial and logistics real estate company with in-house capabilities across land acquisition, design, construction, leasing, and asset management.

• Listed on Euronext Brussels, with a gross asset value of €8.71 billion and shareholders' equity of €2.6 billion as of April 2026.

• Maintains a diversified portfolio across 18 countries, with 140 parks and over 680 tenant contracts.

• Focuses on sustainability, targeting EU Taxonomy compliance and high-level green certifications for all new developments.

• Strategic partnerships with Allianz, Deka Immobilien, and Areim provide long-term capital support.

Operational performance and portfolio

• Achieved a record committed annualised rental income of €486.4 million, with 98% occupancy and a weighted average lease term of 7.7 years.

• Portfolio leased to a blue-chip tenant base, with logistics (51%), light industrial (29%), and e-commerce (20%) as key segments.

• Delivered 5 new buildings YTD totaling 121,000 sqm GLA, 95% let, with a strong focus on logistics and light industrial tenants.

• 44 buildings under construction representing 1.1 million sqm and €86.8 million in annualized leases, 76% pre-let.

• Land bank of 10 million sqm supports future growth, with over 4.2 million sqm of development potential.

Financial highlights

• Pre-tax profit reached €338 million, with a gearing ratio of 35.3% and a stable BBB- credit rating.

• Net rental and renewable energy income grew 18% year-on-year in 2025, with a 28% CAGR since 2016.

• Cash generative leases totaled €389 million at year-end 2025, with potential to grow to €766 million.

• Accelerated development activity contributed to the second-strongest EBITDA in company history.