Statement of financial position

Total assets

1,318,103

1,336,368

1,252,079

1,168,142

782,645

Total shareholders’ equity

1,198,693

1,238,539

1,154,720

1,077,155

771,241

Total debt from credit institutions

-

-

-

-

-

Performance per share

Dividends (in €)

109.97

80.38

65.77

49.65335

52.98

Net earnings (in €)

(104.46)

219.23

140.45

514.04

266.98

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

2,964.33

3,172.38

3,034.73

2,959.53

2,506.33

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

2,968.82

3,172.38

3,034.73

2,959.53

2,511.10

Result

Net result

(41,334)

84,976

51,844

172,585

75,962

Total Global Expense Ratio after tax (TGER)

0.51%

0.53%

0.52%

0.53%

0.56%

Real Estate Expense Ratio (REER)

1.32%

1.23%

1.36%

1.70%

2.50%

Distributable result

35,397

30,782

27,389

20,060

15,074

Pay-out ratio

100%

100%

100%

100%

100%

Fund return

Income return

2.8%

2.6%

2.4%

2.3%

2.1%

Capital growth

-5.9%

4.6%

2.3%

17.7%

9.2%

Total Fund return

-3.2%

7.3%

4.8%

20.3%

11.5%

Portfolio figures

Investment property

1,299,146

1,315,856

1,105,935

826,323

536,054

Investment property under construction

-

-

115,763

263,180

210,857

Gross initial yield

5.1%

4.6%

5.0%

5.8%

6.8%

Total number of properties

19

18

18

18

18

Average monthly rent per square metre (in €)

229

225

216

195

177

Financial occupancy rate (average)

90.4%

90.4%

92.8%

90.0%

89.2%

Sustainability (A, B or C label)

99.6%

99.6%

80.1%

75.5%

73.0%

Property performance (all properties)

Income return

3.4%

3.3%

2.7%

2.3%

3.0%

Capital growth

(6.0)%

4.5%

2.8%

19.80%

10.00%

Total property return

(2.8)%

8.0%

5.5%

22.5%

13.3%

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

Income return

3.1%

3.3%

3.5%

3.9%

4.2%

Capital growth

(6.2)%

5.0%

1.2%

12.7%

10.60%