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The Fund at a glance

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Key performance over five years

All amounts in € thousands, unless otherwise stated

2021

2020

2019

2018

2017

Statement of financial position

     

Total assets

994,754

961,989

996,404

981,296

898,815

Total shareholders’ equity

975,551

945,699

979,393

969,680

888,896

Total debt from credit institutions

-

-

-

-

-

      

Performance per share

     

Dividends (in €)

104.20

105.74

129.60

118.16

117.77

Net earnings (in €)

112.14

10.78

123.15

147.75

190.59

Net asset value IFRS (in €, at year-end)

2,673.69

2,665.07

2,760.03

2,766.60

2,717.59

Net asset value INREV (in €, at year-end)

2,690.41

2,680.09

2,777.17

2,789.93

2,739.67

      

Result

     

Net result

40,293

3,826

43,659

48,675

61,059

Total Global Expense Ratio (TGER)

0.54%

0.54%

0.52%

1.16%

0.54%

Real Estate Expense Ratio (REER)

1.14%

1.09%

0.86%

0.86%

0.79%

Distributable result

36,269

36,414

40,439

38,926

37,731

Pay-out ratio

100%

100%

100%

100%

100%

      

Fund return

     

Income return

3.9%

3.8%

4.2%

3.5%

4.5%

Capital growth

0.5%

(3.4)%

0.1%

2.0%

3.2%

Total Fund return

4.4%

0.3%

4.3%

5.6%

7.8%

      

Portfolio figures

     

Investment property

971,612

951,258

965,495

945,586

864,868

Investment property under construction

-

-

-

12,898

11,941

Gross initial yield

5.9%

5.9%

5.4%

5.5%

5.7%

Total number of properties

59

59

59

63

49

Average monthly rent per square metre (in €)

246

237

236

229

234

Financial occupancy rate (average)

96.6%

95.8%

96.5%

95.2%

95.6%

Sustainability (A, B or C label)

98.6%

98.5%

98.4%

95.6%

98.8%

      

Property performance (all properties)

     

Income return

4.7%

4.6%

4.9%

5.0%

5.2%

Capital growth

0.3%

(3.5)%

0.4%

1.9%

2.8%

Total property return

5.0%

1.0%

5.3%

7.0%

8.0%

      

MSCI (Netherlands Property Index) retail real estate (all properties)

     

Income return

4.5%

4.8%

4.8%

4.9%

5.3%

Capital growth

(3.3)%

(8.7)%

(2.9)%

0.1%

0.4%

Total return MSCI (NPI)

1.1%

(4.3)%

1.8%

5.0%

5.7%