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Warehouses De Pauw - Warehouses with Brains

 

Warehouses De Pauw (WDP) is currently the leading operator in the Belgian semi-industrial property market. The WDP cepic focuses its activities on developing a high-quality logistics and semi-industrial property portfolio.

 

Consolidated key figures

 

Key figures

 

Consolidated result (EUR x 1.000)

31-12-2009

31-12-2008

31-12-2007
       

NET CURRENT RESULT

      
       

Net rental result

54.126,90

46.644,87

38.348,13

Other operating income/expenses

3.645,89

235,46

-71,44

Property result

57.772,79

46.880,33

37.276,69

Property charges

-1.082,89

-1.194,63

-1.389,44

Corporate management costs

-3.325,17

-3.453,60

-2.675,48

Net property result

53.364,73

42.232,10

34.211,77

Financial result excl. IAS 39 result

-18.086,19

-12.751,73

-7.691,24

Taxes on net current result

-220,45

-396,41

-114,88

Deferred taxes on net current result

-1.022,67

-360,90

-161,33

Net current result

34.035,42

28.723,06

26.244,32
       

Net current result/share

3,14

3,34

3,05

Gross dividend/share

2,94

2,94

2,72

NAV/share

29,27

30,41

36,10

Gearing

55,25%

63,04%

50,47%

Fair value of the portfolio (solar panels included)

869,47

773,20

614,10

 

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Chairman’s statement

Economic conditions in 2009 were again very challenging throughout the world. I am therefore all the more pleased to report that WDP, your cepic, performed well in an environment dominated by negative developments. Operating profit rose by over 18%, owing to the satisfactory occupancy rate, the pre-let projects completed in 2009 and the start-up of solar panel plants. This is WDP’s fourthconsecutive year of double digit growth in operating profit. The higher profit was in line with the outlook announced earlier.

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Click here to download the Annual Financial Report 2009

 

WDP shares

 

Comparison of return on WDP shares with GPR 250 Belgium and GPR 250 Europe
 

 

 

 

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