Wereldhave Belgium (WEHB) Q3 2026 TU earnings summary

Executive summary

• 9M 2026 performance remained resilient amid geopolitical uncertainty and cautious consumer sentiment, supported by acquisitions, growth in the existing portfolio, high occupancy and disciplined capital allocation.

• The 2026 outlook was maintained at net result from core activities of €5.20–€5.30 per share.

Financial highlights

• Net rental income rose 17.9% to €65.8M from €55.8M in 9M 2025; excluding the 2025 acquisitions, existing-portfolio income grew 3.4%.

• Net result increased to €56.5M from €29.8M; core net result rose to €43.7M from €37.5M, while non-core result was €12.8M versus -€7.7M.

• Investment property fair value increased 1.9% to €1,245.0M from 31 December 2025; excluding portfolio investment, values rose 1.0%.

Outlook and guidance

• 2026 net result from core activities guidance confirmed at €5.20–€5.30 per share, considering 9M results.

• Guidance warrants caution given geopolitical tensions, energy prices, inflation, rising interest rates and more cautious consumer sentiment.