WDP completed investments of EUR 69 M, projects under way of EUR 92 M in Romania

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The Belgian developer of logistics spaces WDP announced today the financial results for the year 2021. Romania continues to be one of the important poles of the company for investments, according to the group.

The company will develop new projects in Buzau, Deva-Calan, Roman, Slatina, Timisoara, the total investment for the spaces to be developed being estimated at 92 million euros. Beneficiaries of the new projects include Metro, Auchan, Profi, Pirelli. The Slatina warehouse for the Pirelli manufacturer will be expanded by approximately 25,000 sq m, based on a 15-year lease. The investment, with an estimated budget of 15 million euros, is planned to be completed in the first quarter of 2023. In the last quarter of 2021, the company reported new acquisitions in Romania in Bucharest, Ștefăneștii de Jos and Timișoara. At the end of 2021, WDP completed investments of 69 million euros representing 128,553 sq m built in Ștefăneștii de Jos, Cluj, Craiova, Paulești. Beneficiaries include Decathlon, LPP, Eobuwie, Profi, Rosi and Metro – extension.

Acquisitions identified during the fourth quarter of 2021

Bucharest
Saleandleaseback of the Whiteland logistics site, a surface area of approximately 52,000 m². Whiteland is a Romanian logistics service provider specialising in climateconditioned distribution and continues to rent the site on a fiveyear lease.

Bucharest Stefanestii de Jos

The strategic land reserves at this location will be further expanded with a plot of approximately 378,000 m².

Timisoara
Acquisition of land of approximately 86,000 m² for future development.

 

Projects identified during the fourth quarter of 2021


Slatina

The WDP warehouse for car manufacturer Pirelli will be expanded by approximately 25,000 m² based on a fifteenyear lease. Completion is projected in the first quarter of 2023. WDP projects an investment budget of approximately 15 million euros.

 

The result on the portfolio (including the share of joint ventures and after tax)

Group share for 2021 amounts to +730.5 million euros or +4.00 euros per share. For the same period last year, this result amounted to +187.9 million euros or 1.08 euros per share. This breaks down by country as follows: Belgium (+350.8 million euros), the Netherlands (+290.9 million euros), France (+45.4 million euros), Romania (+30.0 million euros), Germany (+7.2 million euros) and Luxembourg (+6.1 million euros).

WDP EPRA Earnings for 2021 amount to 201.2 million euros

This result marks an increase of compared to the result of 174.5 million euros in 2020. The EPRA Earnings per share are up 9.7% year
onyear, to 1.10 euros, including an increase of 5.1% in the weighted average number of outstanding shares. This increase in EPRA Earnings is mainly due to the strong growth of the WDP portfolio in 202021 from prelet projects in the Netherlands and Romania, next to some nonrecurring income.

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