Intervest Offices & Warehouses NV: Interim statement for the first quarter of 2023

• Appointment of Joël Gorsele as chief executive officer, who will lead an accelerated execution of the 2023 - 2025 strategy with a continued focus on the logistics segment and intensified asset rotation, within the framework of the ESG ambitions
• In this strategic transformation of the portfolio, a solid plan is currently being developed that aims to sustainably improve operating margin through rationalization and optimisations, with an organisation aligned to the strategy
• Confirmation of expected EPRA earnings per share for 2023: € 1,48
• Acquisition of a strategic logistics production site of 22.200 m² with ancillary land in the Ghent seaport through a sale-and-lease-back transaction with an investment value of € 14,25 million
• Acquisition of sustainable logistics development potential, 5-hectare site in Saint-Georges-sur-Meuse, near Liège airport, on E42 and Namur-Liège axis 
• Signing of lease agreement with Nippon Express for new unit of approximately 13.000 m² to be built at Genk Green Logistics; nearly 52% of total site under development or already developed
• Limited average yield expansion of 23 bp in logistics compensated by higher ERV and constant yield (cap rate) in offices
• Increase in overall occupancy rate by 2%-points to 92%, as a result of a 3%-point increase in the occupancy rate of the logistics portfolio in Belgium to 99%

Attachment

• PR_Q1 2023_FIN