WEB SA Reports Robust Half-Year Results for 2024

Warehouse Estates Belgium S.A. (WEB) announced its statutory half-year results as of June 30, 2024, reflecting significant growth in its portfolio and occupancy rate. Despite the challenging geopolitical and macroeconomic conditions, the company has posted strong economic performance.

The occupancy rate reached 97.64%, with rental income increasing by 10.6% to €12,186k. Additionally, the portfolio's fair value rose by 5.05% to €333,256k, and operating income from property surged by 21.8% to €9,477k.

WEB successfully signed 32 new leases and renewed 3 during this period. The extraordinary general meeting approved mergers, resulting in the issuance of 336,545 new shares. Commitment to ESG initiatives led to a 23.5% reduction in scope 1 and 2 emissions.

The company invested €1,841k in property improvements and maintained a debt ratio of 47.9%. The financial outlook remains stable, with plans to sustain high occupancy rates and cautious economic development strategies.