PRESS RELEASE
REGULATED INFORMATION
Brussels, 13 August 2025, 5:40 PM
Solid half-year results confirm Nextensa's strategic course
In the first half of 2025, Nextensa achieved a clear increase in profitability despite a challenging economic context. Net profit increased significantly, driven by a higher contribution from development activities, lower financing costs, and a further strengthening of the balance sheet. Underlying rental income recorded positive like-for-like growth, mainly thanks to improved occupancy at Moonar and Tour & Taxis. The decrease in total rental income is mainly due to divestments, including the Knauf shopping centres, the Brixton retail park, and Hygge, representing a total volume of approximately €230 million.
These solid financial and operational results are the outcome of a clear long-term strategy, which materialised in three notable transactions in the first half of the year. The sale of the Knauf shopping centres to Wereldhave for €165.75 million reinforced the group's financial strength. In addition, Proximus's decision to choose Tour & Taxis as its new headquarters - with full pre-leasing of the Lake Side office project - confirmed the appeal of Nextensa's sustainable urban developments. Lastly, Nextensa reinforced its sustainability ambitions by acquiring the iconic Proximus Towers (BEL Towers) and obtaining the permit to redevelop them into a mixed-use sustainable project located in a prime area next to Brussels North Station.
Thanks to these targeted strategic decisions and a solid foundation of results, Nextensa remains well positioned to create sustainable value for all its stakeholders.
NET RESULT
Het nettoresultaat (aandeel van de groep) over de eerste jaarhelft van 2025 bedroeg € 19,9 M, of € 1,96 per dividendgerechtigd aandeel, wat een stijging van 41% betekent ten opzichte van € 14,1 M of € 1,39 per aandeel in dezelfde periode vorig jaar
INVESTMENT PROPERTIES
• Rental income (like-for-like) increased by 5.45% in the first half of 2025 driven by the continued strong performance of the Tour & Taxis site combined with the contribution from major renovations such as Moonar (Luxembourg) and Vösendorf 16 (Austria). Net rental income in H1 2025 was lower (-19.6%) than in the same period last year, due to sales completed in 2024 and H1 2025.
• A limited positive revaluation of € 0,2 M on the existing portfolio compared with a negative revaluation of €6.6 M in the first half of 2024.
• A further 10% reduction in property costs was achieved compared with the same period last year.
DEVELOPMENT PROJECTS
Cloche d'Or
• Construction of the Stairs office building (9.000 m²) is progressing well, with delivery scheduled for the end of March 2026.
• At the end of June, a lease was signed with PwC Luxembourg for approximately 9,500 m² of office space in the new office building Eosys of 12.000 m², with delivery scheduled for September 2027.
• Commercialisation of the final phase of D5-D10 is progressing successfully: as at 30 June 2025, 153 apartments were sold or reserved, corresponding to an occupancy rate of 83%.
Tour & Taxis
• The Tour & Taxis site continues to strengthen its appeal thanks to a wide range of activities and facilities. The increase in both the number of events and permanent leases has translated into a 2% rise in rental income compared with the same period last year.
• The residential development is also progressing successfully: as at 30 June 2025, 327 out of 346 apartments had been sold or reserved. At present, only 15 apartments remain available for sale - a result that can be considered a major success.
ACTIVE FINANCIAL MANAGEMENT
• The average financing cost of the investment portfolio has decreased from 2.86% to 2.71%, thanks to the hedging policy and a reduction in financial debt.
• The sale of both Knauf shopping centres reduced the financial debt ratio to 43.41%, compared with 45.39% on 31 December 2024.
• Most of the investment portfolio maturing in 2025 have been extended for several years, so that the average maturity of the credit lines is now 2.85 years, with available headroom of € 135 M
"The real estate sector remains under pressure, but for Nextensa, the first half of 2025 was an exceptional period. Proximus's decision to establish its new headquarters at Tour & Taxis confirms Nextensa's visionary strategy to focus on inner-city, mixed-use, and above all, sustainable developments.
The redevelopment of the BEL Towers (formerly the Proximus Towers) will be undertaken with the same mission in place. The sale of the Knauf shopping centres, the largest transaction on the Luxembourg market in the last five years, has significantly strengthened our balance sheet. I can only express my sincere thanks to our clients, tenants, banks and the entire Nextensa team for their continued commitment and trust despite the turbulent market conditions."Michel Van Geyte - CEO Nextensa
For more information
Tim Rens | Chief Financial Officer
Nextensa NV | 0436.323.915 (RPM Brussel, Nederlandstalige afdeling)
Gare Maritime, Picardstraat 11, B505, 1000 Brussel
+32 2 882 10 08 | investor.relations@nextensa.eu
www.nextensa.eu
About Nextensa
Nextensa is a mixed-use real estate investor and developer.
The company's investment portfolio is divided between the Grand Duchy of Luxembourg (32%), Belgium (51%) and Austria (17%); its total value as at 30/06/2025 was approximately € 1.1 billion.
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 € 426 M (value 30/06/2025).
