CTP has announced a robust performance for the first half of 2024, with adjusted EPRA earnings per share (EPS) rising 11.2% to €0.40. The increase reflects a strong like-for-like rental growth of 4.8%, driven by indexation and lease renegotiations.
The company reported rental income of €320.9 million, up 14.4% year-on-year, supported by a 4.8% growth in rental income on a like-for-like basis. The portfolio’s gross asset value (GAV) reached €14.8 billion, an 8.5% increase, while the EPRA net tangible assets (NTA) per share climbed 7.1% to €17.05.
CTP’s CEO, Remon Vos, highlighted the group’s success in leasing 918,000 sqm of space in H1-2024, an 8% increase from the previous year. The company’s developments are on track, with 2 million sqm under construction expected to generate €148 million in rental income.
The company also confirmed its adjusted EPRA EPS guidance for 2024 at €0.80 – €0.82. CTP announced an interim dividend of €0.29 per share, up 16% from the previous year, aligning with its dividend policy of 70%-80% payout ratio.
Key highlights from the financial report include:
• Gross Rental Income: €320.9 million (+14.4% YoY)
• Net Rental Income: €313.8 million (+17.0% YoY)
• Profit for the Period: €533.7 million (+13.6% YoY)
• EPRA NTA per Share: €17.05 (+7.1% YoY)
CTP’s strong financial performance is bolstered by a solid liquidity position and strategic investments in its pipeline, positioning the company for continued growth in the industrial and logistics real estate market.
