Vastned Retail Belgium: Annual results 2020

Strong operating results and a high occupancy rate

• Final agreements were concluded with over 98% of the lessees affected by the first lockdown. For the second lockdown, final agreements were concluded with more than 97% of the lessees.

• Limited debt ratio of 28.5% as at 31 December 2020 (27.9% previous financial year).

• € 32.9 million of unused credit facilities available.

• EPRA earnings of € 2.44 per share for financial year 2020.

• Gross dividend proposal of € 2.05 per share for the financial year 2020. This corresponds to a gross dividend yield of 8.5% based on the closing price on 31 December 2020, being € 24.00.

• Divestment of a non-strategic retail park in Schaarbeek and a solitary retail unit in Balen with a capital gain of € 1.5 million.

• Limited decrease in the fair value of the existing real estate portfolio (-2,4%) compared to the first semester of 2020.

• The focus of management in 2021 remains on the timely collection of rents and maintaining a stable occupancy rate for the portfolio.

Full press release:

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Attachment

• VRB_Annual results 2020