Statement of financial position

Total assets

7,770,061

7,838,349

7,080,958

6,699,661

5,793,075

Total shareholders’ equity

7,612,690

7,681,103

6,931,287

6,529,288

5,761,761

Total debt from credit institutions

-

-

-

-

-

Performance per share

Dividends (in €)

100.91

102.56

110.50

97.29

94.99

Net earnings (in €)

25.29

532.49

314.40

489.06

665.23

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

5,226.26

5,301.91

4,875.16

4,671.54

4,280.93

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

5,236.61

5,311.69

4,879.63

4,675.53

4,286.07

Result

Net result

37,144

766,056

442,538

671,208

878,013

Total Global Expense Ratio after tax (TGER)

0.51%

0.53%

0.52%

0.53%

0.54%

Real Estate Expense Ratio (REER)

0.99%

0.89%

0.92%

0.99%

1.00%

Distributable result

149,502

147,007

157,361

135,413

125,372

Pay-out ratio

100%

100%

100%

100%

100%

Fund return

Income return

1.9%

2.1%

2.4%

2.3%

2.5%

Capital growth

-1.3%

8.9%

4.4%

9.1%

15.4%

Total Fund return

0.6%

11.1%

6.8%

11.5%

18.2%

Portfolio figures

Investment property

7,340,522

7,098,313

6,369,668

6,209,139

5,185,923

Investment property under construction

373,173

639,153

453,085

388,303

558,704

Gross initial yield

3.9%

3.7%

3.9%

3.9%

4.1%

Total number of residential units

18,820

18,134

17,760

18,227

17,174

Average monthly rent per unit (in €)

1,203

1,160

1,130

1,104

1,055

Financial occupancy rate (average)

98.4%

97.8%

98.4%

97.9%

97.5%

Sustainability (A, B or C label)

100.0%

100.0%

100.0%

100.0%

98.0%

Property performance (all properties)

Income return

2.4%

2.7%

2.8%

2.8%

3.1%

Capital growth

-1.4%

8.9%

4.4%

9.3%

15.6%

Total property return

1.0%

11.8%

7.3%

12.4%

19.1%

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

Income return

2.6%

2.9%

2.9%

3.2%

3.4%

Capital growth

-1.0%

12.2%

5.3%

10.1%

14.7%