Vastned Retail N.V. Reports Earnings Results for the Half Year Ended June 30, 2022
July 27, 2022
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Vastned Retail N.V. reported earnings results for the half year ended June 30, 2022. For the half year, the company reported sales was EUR 32.77 million compared to EUR 31.03 million a year ago. Net income was EUR 39.46 million compared to net loss of EUR 8.63 million a year ago. Basic earnings per share from continuing operations was EUR 2.3 compared to basic loss per share from continuing operations of EUR 0.5 a year ago. Diluted earnings per share from continuing operations was EUR 2.3 compared to diluted loss per share from continuing operations of EUR 0.5 a year ago.
Vastned Retail N.V. is a European listed property company focusing on the best retail property on the popular high streets of selected European cities with a historic city centre, also referred to as « core city assets ». The tenants of VastNed Retail N.V. include international and national department stores that are leading in their sector; major luxury, fashion and sports brands; supermarkets; and a wide range of other retailers.
By investing in historic city centres Vastned Retail N.V. contributes to the preservation of the cultural heritage in these city centres. Vastned Retail N.V. also provides a positive contribution to the liveability and safety in city centres by creating and renovating residential space above retail units. In this way, the company endeavours to create long-term value for its shareholders, tenants, employees and society as a whole.
At year-end 2023, the group's real estate portfolio amounted to EUR 1,373 million. Over 80% of the portfolio is comprised of property located in the historic centres of selected European cities. The remainder of the portfolio is mostly made up of Belgian retail parks, supermarkets and high-quality retail property in smaller cities in the Netherlands and Belgium.