Highlights Q3 2023
Montea brings 1 million m² of its land bank into development in the next 2 years
- Montea brings more than 40% of its existing land bank into development by end 2025
- The roll-out will lead to ca. 600,000 m² of additional lettable warehouses
- 63% of the lettable area has been already permitted, of the remaining 37% lettable area, the permit is expected shortly
- Almost half pre-let, Concrete negotiations with potential tenants are at a final stage as regards the area non-pre-let.
- Value creation
- Total investment volume of € 550 million, of which € 150 million is already invested, thus € 400 million planned investments
- Average net initial yield of 7.0%
- € 200 million in development margins or more than € 10 per share at EPRA NTA level
- Eye for the future:
- With the remaining land bank of 1,437,000 m², Montea retains significant future development potential, which also provides flexibility beyond 2025 to plan and execute investments which will again add additional value for all stakeholders
Increase 2023 & 2024 earnings guidance
- 2023 – Growth of the EPRA result to € 4,90 per share including € 0,45 exceptional EPRA result per share. The EPRA recurring result increases from € 4,40 previously to € 4,45 per share.
- 2024 – Growth of the EPRA result of € 4,50 previously to € 4,55 per share
2025 guidance
- By bringing 1 million m² of the landbank into development, Montea expects a sustainable increase in the EPRA result from € 4.55 per share in 2024 to € 4.65 per share in 2025
