NEXTA Nextensa SA

REGULATED INFORMATIONBrussels, 21 February 2024, 5:40 PM

NEXTENSA: ANNUAL RESULTS 2023

Highlights 

INVESTMENT PROPERTIES• Nextensa realises a higher rental income (+€ 3.1 M) in 2023 compared to 2022, i.e. a like-for-like rental growth of +12%.• Property costs decrease by € 0.9 M due to higher occupancy rate.• The revaluation of the investment properties at the end of 2023 has a limited negative impact of -0.9%.• A profit of € 2.1 M was realised on the sale in early April 2023 of the Treesquare office building in Brussels.DEVELOPMENT PROJECTS• Tour & Taxis: Higher development result (€ 4.4 M margin recognised) in Belgium due to successful sales at Tour & Taxis. Of the 346 apartments of Park Lane phase II 64% have already been sold or reserved. • Cloche d’Or: 100% letting of the delivered office buildings Emerald and White House. Slower sales of apartments and office buildings lead to a lower contribution in the 2023 result (contribution of € 13.8 M in 2023 vs contribution of € 19,8 M in 2022).

OPERATIONAL EFFICIENCYDecrease in overhead costs compared to the same period last year (€ -2.1 M), despite the inflationary environment.

ACTIVE FINANCIAL MANAGEMENTThe average cost of funding increases slightly from 2.18% to 2.67%, thanks to the hedging policy. At the end of 2023, the hedge ratio was 79% and a headroom existed of € 88 M on the existing credit lines.NET RESULTNet result (group share) amounts to € 24.49M or € 2.45 per share.The lower result compared to the exceptional year 2022 (net result of € 71.3 M) is mainly due to:• Limited activity in the institutional real estate market in 2023, where in 2022 profits were realised on sales of the Monnet and Titanium buildings (€ 28.3 M vs € 2.1 M in 2023).• The negative revaluation of the financial assets and liabilities in 2023 (€ -7.3 M) versus the positive revaluation in 2022 (€ +15.6 M).SALE OF THE RETAIL PROPERTY IN FOETZSale in early February 2024 at fair value as at 31/12/2023 (€ 9.23 M). DIVIDENDProposal to pay a gross dividend of €1.50 per share, which will be offered as an optional dividend if appropriate.  CLEAR CHOICE FOR A FOSSIL-FREE PORTFOLIOIn 2023, the decision was taken to align all new developments with the criteria of the EU taxonomy (within the climate mitigation objective) and an action plan was drawn up to move towards a fossil-free portfolio.For more informationTim Rens | Chief Financial OfficerGare Maritime, Picardstraat 11, B505, 1000 Brussels+32 2 882 10 08 | investor.relations@nextensa.euwww.nextensa.euAbout Nextensa Nextensa is a mixed-use real estate investor and developer.The company’s investment portfolio is divided between the Grand Duchy of Luxembourg (43%), Belgium (42%) and Austria (15%); its total value as at 31/12/2023 was approximately € 1.3 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 € 488.6 M (value 31/12/2023).

Attachment

• NEX_Annual Results_ENG_final

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