on WAREHOUSE ESTATES BELGIUM S.A. (EBR:WEB)
WEB SA announces its annual results for the 2023 financial year
WAREHOUSES ESTATES BELGIUM SA (WEB SA) has published its financial results for the year 2023, marking significant growth in different operational areas. Rental income increased by 10.37% to reach €22,574 thousand. Operating profit and operating profit before portfolio result increased by 11.7% and 13.9% respectively. The company has also optimized its financial management in the face of rising interest rates by applying an effective hedging policy.
The real estate portfolio evolved slightly, with an increase of 5.47% in fair value, reaching €317,234 thousand. Despite a difficult economic context, characterized by geopolitical tensions and a rise in interest rates, WEB SA closed the financial year with reassuring operational performances. However, the financial result suffered a negative impact.
In terms of distribution, a dividend of €3.35 per share is proposed, reflecting 88.76% of the adjusted result. Regarding the outlook, the company remains cautious but confident, planning to continue its economic development despite macroeconomic uncertainties. WEB SA was also awarded two EPRA Gold Awards, highlighting its continuous improvement strategy.
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