Key performance over five years
All amounts in € thousands, unless otherwise stated | 2022 | 2021 | 2020 | 2019 | 2018 |
Statement of financial position | |||||
Total assets | 1,073,286 | 994,754 | 961,989 | 996,404 | 981,296 |
Total shareholders’ equity | 1,055,026 | 975,551 | 945,699 | 979,393 | 969,680 |
Total debt from credit institutions | - | - | - | - | - |
Performance per share | |||||
Dividends (in €) | 106.99 | 104.20 | 105.74 | 129.60 | 118.16 |
Net earnings (in €) | 281.09 | 112.14 | 10.78 | 123.15 | 147.75 |
Net asset value IFRS (in €, at year-end) | 2,847.73 | 2,673.69 | 2,665.07 | 2,760.03 | 2,766.60 |
Net asset value INREV (in €, at year-end) | 2,861.09 | 2,690.41 | 2,680.09 | 2,777.17 | 2,789.93 |
Result | |||||
Net result | 104,095 | 40,293 | 3,826 | 43,659 | 48,675 |
Total Global Expense Ratio (TGER) | 0.51% | 0.54% | 0.54% | 0.52% | 1.16% |
Real Estate Expense Ratio (REER) | 0.70% | 1.14% | 1.09% | 0.86% | 0.86% |
Distributable result | 42,134 | 36,269 | 36,414 | 40,439 | 38,926 |
Pay-out ratio | 100% | 100% | 100% | 100% | 100% |
Fund return | |||||
Income return | 4.2% | 3.9% | 3.8% | 4.2% | 3.5% |
Capital growth | 6.1% | 0.5% | (3.4)% | 0.1% | 2.0% |
Total Fund return | 10.5% | 4.4% | 0.3% | 4.3% | 5.6% |
Portfolio figures | |||||
Investment property | 1,020,257 | 971,612 | 951,258 | 965,495 | 945,586 |
Investment property under construction | - | - | - | - | 12,898 |
Gross initial yield | 5.5% | 5.9% | 5.9% | 5.4% | 5.5% |
Total number of properties | 60 | 59 | 59 | 59 | 63 |
Average monthly rent per square metre (in €) | 280 | 246 | 237 | 236 | 229 |
Financial occupancy rate (average) | 97.1% | 96.6% | 95.8% | 96.5% | 95.2% |
Sustainability (A, B or C label) | 97.2% | 98.6% | 98.5% | 98.4% | 95.6% |
Property performance (all properties) | |||||
Income return | 4.7% | 4.7% | 4.6% | 4.9% | 5.0% |
Capital growth | 6.5% | 0.3% | (3.5)% | 0.4% | 1.9% |
Total property return | 11.5% | 5.0% | 1.0% | 5.3% | 7.0% |
MSCI (Netherlands Property Index) retail real estate (all properties) | |||||
Income return | 5.0% | 4.5% | 4.8% | 4.8% | 4.9% |
Capital growth | (0.7)% | (3.3)% | (8.7)% | (2.9)% | 0.1% |
Total return MSCI (NPI) | 4.3% | 1.1% | (4.3)% | 1.8% | 5.0% |