Statement of financial position

Total assets

1,237,860

1,318,103

1,336,368

1,252,079

1,168,142

Total investors’ equity

1,139,590

1,198,693

1,238,539

1,154,720

1,077,155

Total debt from credit institutions

-

-

-

-

-

Performance per unit

Dividends (in €)

77.66

109.97

80.38

65.77

49.65

Net earnings (in €)

(256.48)

(104.46)

219.23

140.45

514.04

Net asset value IFRS (in €, at year-end)

2,634.41

2,964.33

3,172.38

3,034.73

2,959.53

Net asset value INREV (in €, at year-end)

2,648.94

2,968.82

3,172.38

3,034.73

2,959.53

Result

Net result

(106,774)

(41,334)

84,976

51,844

172,585

Total Global Expense Ratio after tax (TGER)

0.6%

0.5%

0.5%

0.5%

0.5%

Real Estate Expense Ratio (REER)

1.5%

1.3%

1.2%

1.4%

1.7%

Distributable result

40,963

35,397

30,782

27,389

20,060

Pay-out ratio

100%

100%

100%

100%

100%

Fund return

Income return

3.7%

2.8%

2.6%

2.4%

2.3%

Capital growth

(11.7)%

(5.9)%

4.6%

2.3%

17.7%

Total Fund return

(8.3)%

(3.2)%

7.3%

4.8%

20.3%

Portfolio figures

Investment property

1,215,969

1,299,146

1,315,856

1,105,935

826,323

Investment property under construction

-

-

-

115,763

263,180

Gross initial yield

6.4%

5.1%

4.6%

5.0%

5.8%

Total number of properties

20

19

18

18

18

Average monthly rent per square metre (in €)

253

229

225

216

195

Financial occupancy rate (average)

93.2%

90.4%

90.4%

92.8%

90.0%

Sustainability (A, B or C label)

98.4%

99.6%

99.6%

80.1%

75.5%

Property performance (all properties)

Income return

4.3%

3.4%

3.3%

2.7%

2.3%

Capital growth

(12.0)%

(6.0)%

4.5%

2.8%

19.8%

Total property return

(8.2)%

(2.8)%

8.0%

5.5%

22.5%

MSCI (Netherlands Property Index) office real estate (all properties)

Income return

4.1%

3.1%

3.3%

3.5%

3.9%

Capital growth

(14.7)%

(6.2)%

5.0%

1.2%

12.7%