CTP doubles in size only three years after Euronext listing
13 Mayo 2024 - 12:00AM
Business Wire
Regulatory News:
CTP, Europe’s largest listed owner, developer and manager of
logistics and industrial real estate by gross lettable area (GLA)
has marked the third anniversary of its listing on the Euronext
Amsterdam stock exchange, which at the time was the largest real
estate IPO in Europe since 2014, with remarkable success.
The subsequent three years from CTP's listing in March 2021 have
been a time of accelerated growth for the company, highlighted by a
103% increase in GLA from 5.9 million sqm to 12.0 million sqm
across CTP's European portfolio and 162% growth in its landbank,
from 8.8 million sqm to 23.1 million sqm, thereby locking in future
expansion by enabling CTP to develop more space to meet strong
demand.
CTP's rapid growth is only set to accelerate further, given the
116% increase in the next 12 months of contracted revenues (from
€344 million to €742 million) over the same period. This upward
trajectory supports CTP’s ambitious target to reach over 1.2
billion of annualised rental income before the end of the
decade.
CTP's IPO in 2021 enabled the company to enter new markets,
including Germany through the circa €800 million acquisition and
delisting of Deutsche Industrie REIT-AG (“DIR”), which had a
portfolio of 1.6 million sqm of GLA that was under rented and
adjacent land plots for future development. The proceeds raised
through the listing also enabled CTP to enter other markets like
Poland, through the acquisition of a 2.5 million sqm landbank from
7R in 2022.
Having established this strong platform, CTP will be investing
€1 billion in Germany over the coming years. As part of this CTP
recently announced it will develop a major new high tech 160,000
sqm business park in Mülheim in west Germany, while it has also
recently signed a deal with leading Taiwanese company Quanta
Computer Inc. for a high-tech pioneering production facility at
CTPark Jülich in the Brainergy Park Jülich in northwest
Germany.
The IPO has also supported CTP's growth by enhancing its access
to capital markets, with CTP receiving investment-grade credit
ratings from both Moody’s and S&P. Since receiving the credit
rating in 2020, CTP has successfully issued €5 billion in Green
Bonds at attractive conditions.
CTP has also delivered on the promises set out to shareholders
during the IPO process. Since March 2021, CTP’s EPRA Net Tangible
Asset (“NTA”) per share has increased by 98% (from €8.32 to
€16.50), while Company Specific Adjusted EPRA earnings per share
(“EPS”) has grown by 66% (from €0.44 to €0.811).
The IPO in 2021 did not change CTP's strategy, which has been
consistent since it began in 1998: to develop, own and operate
state-of-the-art business parks in strategic locations, creating
eco-systems, leveraging its strong client relationships and driving
sustainable, long-term value creation.
CTP’s unprecedented success stems from its entrepreneurial
spirit, market insight, and first-mover advantages in
business-smart Central and Eastern Europe (“CEE”). The drivers that
have led the growth of CEE markets over the past decade—strategic
location, developed transport infrastructure, lower labour costs,
and a well-educated workforce—are even more relevant today, as
companies worldwide are rethinking their supply chains to make them
more resilient.
CTP’s successful recent expansion into Western Europe and the
strengthening of its position as market leader in CEE enables it to
provide seamless, value-driven property solutions from its
integrated network of CTParks across ten European markets from the
North Sea to the Black Sea.
Remon Vos, CEO of CTP, said: “The third anniversary of
the IPO demonstrates our rapid progress since going public. In the
past three years we have not only doubled our gross lettable area,
but almost tripled our landbank, and we are going to do it all
again – our team of more than 750 employees with many young talents
is set up to make us grow faster than ever.
“With this phenomenal track record, we are excited for what the
coming years will bring. We continued to outperform the market and
retained its double-digit pace of growth, reflecting CTP’s strong
financial and operational performance and the resilience of our
business model.
“We expect further rental growth to be driven by a supply–demand
imbalance of high-quality logistics space across our markets.
Demand for industrial and logistics real estate in the CEE region
is also being driven by structural demand drivers, such as the
professionalisation of supply chains, e-commerce, and occupiers
seeking to enhance the resilience of their supply chains through
nearshoring and friend-shoring, as the CEE region offers the best
cost location in Europe. Already the market leader in CEE, we look
forward to further strengthen our position here and in grow our
presence other European markets as we reach our 2030 goals."
END
About CTP
CTP is Europe’s largest listed owner, developer, and manager of
logistics and industrial real estate in terms of gross lettable
area, with 12.0 million sqm GLA in 10 countries (as at 31 March
2024). The company certifies all new buildings under BREEAM at
‘very good’ or above and has achieved a low-risk ESG rating from
Sustainalytics, reaffirming its commitment to sustainability. For
more information, please visit: www.ctp.eu.
1 Mid-point 2024 Company Specific Adjusted EPRA EPS guidance:
€0.80 - €0.82
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CONTACT DETAILS FOR MEDIA ENQUIRIES: Patryk Statkiewicz,
Group Head of Marketing & PR Mobile: +31 (0) 629 596 119 Email:
patryk.statkiewicz@ctp.eu
SEC Newgate Sara Champness/James Carnegie Mobile: +44 (0)
7962 387 949 Email: CTP@secnewgate.co.uk
CONTACT DETAILS FOR ANALYST AND INVESTOR ENQUIRIES:
Maarten Otte, Head of Investor Relations Mobile: +420 730 197 500
Email: maarten.otte@ctp.eu