Annual report 2025

2025 was a year of successful execution for Montea, despite the challenging market conditions. We achieved all targets under our Track27 growth plan and delivered on our earnings guidance, growing our EPRA earnings per share by 8% in 2025. The year was marked by a number of milestones in our portfolio, from delivering our largest development project to date, a 95,000 m² warehouse in Tiel, The Netherlands as well as entering into a joint venture with Weerts Group for the development of Belgium’s largest single-tenant logistics development spanning 215,000 m² for Skechers.

Another important milestone was our inclusion in the BEL20 index, a recognition of the trust of our customers, the dedication of our teams and the continued support of our shareholders.

We secured more than 81% of the targeted €1.15 billion investment volume under Track27 and are laying foundations for growth beyond Track27 by expecting to secure permits for 500,000 m² of gross lettable area in France.

Strong results that confirm our strategy and provide a solid foundation to continue the rollout of Track27, targeting a portfolio value of more €3.5 billion and 7% annual growth in EPRA earnings per share throughout 2027.