VGP NV (VGPBF)
OTHER OTC:VGPBF
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Earnings Data
Report Date
Aug 20, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
7.22Same Quarter Last Year
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operational and financial positives: solid EBITDA growth (+28%), recurring rental income expansion (+13.5% to EUR 468.3m), improved NAV/EPRA metrics, high occupancy (~98%), an active and sizeable development pipeline and strategic JV/fund initiatives (Saga and East Capital). These strengths were tempered by material JV valuation headwinds that reduced JV profit contribution, higher financing costs, and valuation adjustments in the German JV portfolio driven by external appraisals. Management highlighted clear execution plans, a robust pipeline and conversion prospects for LOIs, but some items (JV valuation timing, data center plans and conversion of pipeline LOIs) introduce execution and market risk. Overall, the positive operational momentum and balance-sheet initiatives outweigh the noted challenges.Company Guidance
Pre-tax profit and NAV growth
Pre-tax profit of EUR 338 million, up EUR 19 million or +6% vs FY2024; net asset value grew 8.3% to EUR 2.6 billion and EPRA NTA up 9%.
Strong EBITDA expansion
EBITDA increased 28% to EUR 454.7 million (from EUR 354.4 million), described as the group's second strongest EBITDA, with a higher share of cash-generative recurring income (EUR 249 million cash component).
Record new and renewed leases / Committed rental income growth
Historic record of EUR 106.7 million of new and renewed leases in 2025; annualized committed rental income rose 13.5% year-on-year to EUR 468.3 million (from EUR 412.6 million).
High occupancy, long lease tenor and diversified tenant base
Combined portfolio occupancy ~98%; weighted average lease term (WALT) 7.8 years (own portfolio WALT 9.6 years); top 10 tenants represent 29.7% of committed leases across 28 agreements — indicating diversification and long-term cash visibility.
Robust development pipeline and landbank
1,052,000 sqm under construction (43 buildings, ~75% pre-let) with development potential from a secured land bank of 10.25 million sqm (owned + committed), representing at least ~4.3–4.5 million sqm developable space; delivered ~500,000 sqm in 2025 (99% let).
Joint-venture model and capital recycling
Net cash recycling of EUR 389 million via Saga JV generating EUR 60.5 million realized profit in 2025; ongoing JV activity with planned material Saga closing (~EUR 1 billion+) in H2 2026 and new partnership with East Capital targeting at least EUR 1.5 billion gross asset value (pan-European fund).
Renewable energy growth and new battery focus
Renewable energy gross revenues rose from EUR 8.3 million to ~EUR 12 million (photovoltaic production up ~47% from 90 GWh to 132 GWh); photovoltaic yields exceeded 10%; photovoltaic revenues up ~50% year-on-year and battery projects being developed with strong expected returns and further EBITDA contribution from 2026–2027 onward.
Portfolio value & balance sheet highlights
Total portfolio value (100% view) rose ~11% to EUR 8.7 billion; group assets under construction increased to ~EUR 1.93 billion; consolidated gearing ~35% with proportional LTV ~50%; investment-grade ratings (S&P & Fitch BBB- stable) and average cost of debt reported at 2.7%.
Dividend growth
Board proposes ordinary dividend of EUR 92.8 million (EUR 3.4 per share), a +3% increase vs 2024.
VGPBF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
VGPBF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | $129.13 | $125.80 | -2.58% |
Aug 21, 2025 | $110.53 | $110.08 | -0.41% |
Feb 20, 2025 | $78.75 | $81.17 | +3.07% |
Aug 23, 2024 | $105.03 | $104.94 | -0.08% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does VGP NV (VGPBF) report earnings?
VGP NV (VGPBF) is schdueled to report earning on Aug 20, 2026, Before Open (Confirmed).
What is VGP NV (VGPBF) earnings time?
VGP NV (VGPBF) earnings time is at Aug 20, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VGPBF EPS forecast?
Currently, no data Available