Wereldhave Belgium (WEHB) Q1 2026 TU earnings summary

Executive summary

• Achieved solid portfolio growth and a 23% year-over-year increase in net rental income to €21.9M, with net asset value per share rising to €74.23 despite challenging macroeconomic conditions.

• Fully acquired the last unit in Ville2, gaining complete control and enabling further optimization of the tenant mix.

• Operational performance remained strong, with a high occupancy rate and increased footfall in shopping centers.

Financial highlights

• Net rental income rose 23% year-over-year to €21.9M, driven by acquisitions and organic growth.

• Net result from core activities increased 18.1% to €14.3M compared to Q1 2025.

• Net asset value per share increased 1.7% to €74.23 from €73.00 at year-end 2025.

• Shareholders' equity reached €848.8M, up from €834.7M at year-end 2025.

Outlook and guidance

• Maintains net result from core activities guidance for 2026 at €5.20–€5.30 per share.

• Guidance is subject to caution due to ongoing geopolitical tensions, interest rate fluctuations, and inflation.