WDP Annual Results 2024 – Key Highlights

2024 was a milestone year for WDP, marked by exceptional financial and operational results and significant expansion across Europe. The company invested €1 billion at an optimal time in the capital market cycle, doubling its portfolio in France and strengthening its European platform. The company remains well-positioned for sustained growth through 2027, supported by its real estate portfolio, energy investments, and European expansion.

Financial Performance and Key Metrics

✔ EPRA Earnings Growth:

- €333.7 million (+15% YoY)

- €1.50 per share (+7% YoY, outperforming the €1.47 target)

- Dividend increased by +7% YoY to €1.20 per share

✔ High Investment Volume:

- €1 billion secured across all regions

- €700 million portfolio in France, supported by a new Country Manager

- 85% of investments in Western Europe

✔ Portfolio Expansion & Valuation:

- Occupancy rate: 98% as of December 31, 2024

- Rental growth: +12% uplift on 500,000m² GLA

- Portfolio value: €8 billion (up from €7.9 billion)

- EPRA Net Initial Yield (NIY): 5.4%

- Net reversionary yield: 6.2%

✔ Financial Strength & Outlook:

- Loan-to-value: 38.3%

- Net Debt/EBITDA: 7.2x

- €1.7 billion in unused credit lines

- Expected 2025 EPRA EPS: €1.53 (+7%)

- Projected dividend for 2025: €1.23 per share (payable in 2026)

✔ #BLEND2027 Plan – Executing Towards 2027 Target
WDP confirms its 2027 EPRA EPS target of €1.70, backed by:

-  €1.1 billion investment pipeline

- €600 million in retained earnings & optional dividends (2025-27)

- Fully funded growth plan with low debt levels

✔ Future Growth Drivers

- France & Germany expansion

- New warehouse and logistics developments

- Rental reversion opportunities

- €350 million+ investment in renewable energy & battery storage

✔ WDP in Romania

- €1.5 billion portfolio across 1.95 million m²

- WDP acquired its local partner’s 15% stake, consolidating full ownership

- IFC & BEI financing: (€300 million green loan for logistics development and  €250 million for renewable energy projects)

✔ Solar Energy Expansion

- Current capacity: 234 MWp

- Target for 2027: 350 MWp

- Projected annual solar revenue: €40 million

✔ Battery Storage & Energy Hubs

- €65 million investment in a 60MW battery park in Belgium

- Additional €25 million for smaller battery projects

- Expansion of e-mobility & EV charging infrastructure

✔ Green Financing & ESG Commitments

- €2.1 billion in green financing

- Green certified assets: 56% (target 75% by 2025)

✔ Strengthened European Management

- New Country Manager in France

- New COO appointed to drive European expansion

✔ WDP Certified as a "Great Place to Work"- Employee engagement and workplace excellence recognized

✔ Governance & Financial Strategy

- €103 million capital increase via optional dividend

- €39.7 million capital increase via a sale-leaseback deal in Belgium

- EPRA EPS: €1.53 (+7%)

- Dividend per share: €1.23 (payable in 2026)

- Minimum occupancy rate: 97%

- Loan-to-value: <40%

- EPRA EPS Target: €1.70

-  Continued European expansion

-  Further investment in sustainable energy