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13.02.2025 17:45:00
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Nextensa: Annual Results 2024 - Bold Choices for future-proof real estate
REGULATED INFORMATION
INSIDE INFORMATION
Brussels, 13 February 2025, 5:45 PM
NEXTENSA: ANNUAL RESULTS 2024
BOLD CHOICES FOR FUTURE-PROOF REAL ESTATE
2024 marks the beginning of the realisation of Nextensa’s sustainable investment strategy
Proximus
This translates into Proximus choosing to establish its headquarters on the Tour & Taxis site (37,000 sqm), where the mix of functions and innovative building projects with high-quality, high-end architecture meets the current sustainability requirements of amodern company.
Proximus’ decision to relocate its "Campus Brussels” to Tour & Taxis is part of the "request for proposal” process launched in late summer 2024 in search for a new Brussels headquarters. The signing is expected by the end of the first quarter of 2025.
The Bel Towers
Nextensa will also continue its sustainability journey by acquiring a prime location next to Brussels North railway station. The transaction is expected to be finalized by the end of the first quarter of 2025.
The iconic Proximus towers, soon to be renamed The Bel Towers, will be given a new, mixed-use destination. Maximizing reuse and recycling, this outstanding new project will play an important role in shaping Nextensa’s growth.
Sales of Knauf Shoppingcenters Luxemburg
On 13 February 2025, both Knauf Shopping Centers (Knauf Pommerloch & Knauf Schmiede) were sold to the Wereldhave group for a total amount of € 165.75 M. As Nextensa increasingly seeks to position itself as a mixed developer/investor of innercity, sustainable projects, these shopping centers became less and less strategic for the group. In addition, this transaction significantly reduces Nextensa’s net debt position so that full deployment can be made on new projects. Part of the sales price will be paid in shares of Wereldhave N.V., which will, however, be placed with third-party investors. Nextensa is selling these Shopping Centers at an average sales yield of 7.60%, which is in line with the market but which means a minus value compared to fair value of € 29 M and therefore also has a direct negative impact on the net result (included in the line "revaluation of investment properties”)
Divestment programme
During 2024, a profit of € 3.5 M was realised on the sale of the retail building in Foetz (€ 9 M sales value), office building Hygge (Luxembourg CBD) (€ 23 M sales value) and the retail park Brixton Business Park (Zaventem, Belgium) (€ 43 M sales value) which was sold to 5 different investors at a yield of approximately 6.15%
Financial management
Nextensa achieves higher rental turnover (€ +1.7 M) in 2024 compared to 2023, representing a like-for-like rental growth of +4.7%, despite several significant sales of investment properties. Property costs decrease by € 1.5 M due to higher occupancy rates.
"The choice made 3.5 years ago to radically change to a mixed model of forward-looking developer/investor focusing on mixed-use projects in predominantly urban environments is proving to be the right one.” (Michel Van Geyte, CEO Nextensa)
For more information
Tim Rens | Chief Financial Officer
Nextensa NV/SA | 0436.323.915 (RLE Brussels, Dutch-speaking division)
Gare Maritime, Rue Picard 11, B505, 1000 Brussels
+32 2 882 10 08 | investor.relations@nextensa.eu
www.nextensa.eu
About Nextensa
Nextensa NV is a mixed property investor and developer.
The company’s investment portfolio is divided between the Grand Duchy of Luxembourg (43%), Belgium (42%) and Austria (15%); its total value as at 31/12/2024 was approximately € 1.2 billion.
As a developer, Nextensa is primarily active in shaping large urban developments. At Tour & Taxis (development of over 350,000 sqm) in Brussels, Nextensa is building a mixed real estate portfolio consisting of a revaluation of iconic buildings and new constructions. In Luxembourg (Cloche d’Or), it is working in partnership on a major urban extension of more than 400,000 sqm consisting of offices, retail and residential buildings.
The company is listed on Euronext Brussels and has a market capitalisation of € 428.5 M (value 31/12/2024)
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