REGULATED INFORMATION
Brussels, 19 May 2025, 7:30 AM
RESULTS ON Q1 2025
HIGHLIGHTS
STRONG START TO 2025
Nextensa has started 2025 with momentum, completing three strategic transactions that decisively implement its sustainable investment strategy and position the company for a new phase of growth, greater value creation potential, and strengthened market position.
• The sale of the Knauf Shopping Centers, on 13 February 2025, marked an important step in the reorientation of the portfolio towards assets with greater growth potential. This transaction reinforces Nextensa's financial strength and creates room for targeted investments. The two Knauf Shopping Centers (Knauf Pommerloch & Knauf Schmiede) were sold to the Wereldhave group for a total amount of € 165.75 M.
• On 2 April, the outcome of Proximus' RfP process for a new Brussels campus was officially announced. Proximus' decision to establish its headquarters at Tour & Taxis confirms the attractiveness and strategic importance of this site, as a sustainable and innovative urban development. The arrival of Proximus ensures long-term rental income with a full pre-letting of the office section of Lake Side, the final phase of the Tour & Taxis urban development.
• With the acquisition of the Proximus Towers in Brussels' North district, Nextensa is strengthening its position in the segment of high-quality office buildings and landmark assets. These iconic towers, known for their architectural and commercial value, fit perfectly with Nextensa's long-term vision of investing in premium locations with strong sustainable value. The transaction was signed on 2 April for an amount of € 62.5 M.
INVESTMENTS PROPERTIES
• Like-for-like rental income increased by 9% in the first quarter of 2025, supported by the continued strong performance of the Tour & Taxis site and the contribution of major renovations such as Moonar (Luxembourg) and Vösendorf 16 (Austria). However, nominal rental income for Q1 2025 is lower (-10.2%) compared to the same period in 2024 due to asset disposals carried out in 2024 and early 2025.
• Property operating costs decreased by 3% compared to the same period last year.
DEVELOPMENT PROJECTS
• Cloche d'Or:
On 18 March, the foundation stone of the office building "The Stairs" was laid. The delivery of the building and the completion of the sale to State Street are expected by the end of Q1 2026.
Despite a slowdown in residential sales in Luxembourg, only 17 apartments remain unsold at the Cloche d'Or site.
• Tour & Taxis:
With an average sales rate of 2 apartments per week during the first quarter of 2025, 322 out of 346 apartments in Park Lane Phase II had been sold by the end of the quarter.
NET RESULT
The net result (Group share) amounts to € 7.8 M, or € 0.77 per dividend-entitled share, compared to € 7.0 M or € 0.70 per share at the end of the first quarter of 2024.
ACTIVE FINANCIAL MANAGEMENT
• The average cost of financing decreased from 2.86% to 2.79%, supported by the interest rate hedging strategy and the reduction in financial debt.
• The sale of the Knauf shopping centers brought the net LTV ratio below 40%, thereby strengthening the balance sheet to support future development projects.
About Nextensa
Nextensa is a mixed-use real estate investor and developer.
The company's investment portfolio is spread across the Grand Duchy of Luxembourg (43%), Belgium (42%) and Austria (15%); its total value of approximately € 1.1 billion as at 31/03/2025.
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 € 414M (value 31/03/2025).
For more information
Tim Rens | Chief Financial Officer
Nextensa NV | 0436.323.915 (RLE Brussels, Dutch-speaking division)
Gare Maritime, Picardstraat 11, B505, 1000 Brussels
+32 2 882 10 08 | investor.relations@nextensa.eu
www.nextensa.eu
