Q1 2022 Trading Update
Strong operational performance and current market conditions allow for providing a full-year outlook
Highlights
- Vastned delivered a strong operational performance in Q1 2022
- Occupancy rate of portfolio increased to 98.1% as at 31 March 2022 (31 December 2021: 97.9%)
- Strong collection rate of 96.1% in Q1 2022, despite the negative Covid-19 impact at the start of this year, underpins the quality of Vastned’s real estate portfolio
- 10 new leases and lease renewals signed in Q1 2022 for € 0.9 million in annual rent
- 2 non-strategic assets divested for € 0.8 million, 18.6% above book value
- Expected full-year direct result per share in the range of € 1.95 to € 2.05
Hoofddorp, 4 May 2022 – Vastned delivered a strong operational performance in the first three months of 2022, continuing the trend of the end of last year. Given the positive results over the first quarter, an improvement in high street footfall numbers, eased uncertainty with respect to Covid-19 in recent months and the war in the Ukraine so far only having a limited impact on consumer retail spending, Vastned expects to be on track for a full-year direct result per share range of € 1.95 to € 2.05, barring unforeseen circumstances.
Thanks to the quality of our portfolio, our business and our people, Vastned again delivered a strong operational performance. The occupancy rate is high at 98.1% and the collection rate of 96.1% remains strong, despite the negative Covid-19 impact at the start of this year. In 2022 we will continue to optimise our rental income and control our costs.
Given that high street footfall numbers in the cities where Vastned is active have improved, the uncertainty around the impact of Covid-19 has eased in recent months and the war in the Ukraine so far has had only a limited impact on consumer retail spending, Vastned now expects to be on track for a full-year direct result per share of €1.95 to €2.05.
