Highlights 2016

Key developments 2016

Realised result increased to € 142 million in 2016 from € 122 million in 2015.

Members of the Management Team

From left to right: Hans Touw (director Portfolio Strategy), Astrid Schlüter (director Operations), Frits Vervoort (CFO), Gertjan van der Baan (CEO) and Pieter Knauff (director Acquisitions).

Market developments

Last year, the Dutch economy continued to firm and we saw upward adjustments of growth forecasts for both the economy and household purchasing power. Economic growth eventually amounted to 2.4%1, above the average for the past 20 years.

Strategy and long-term objectives

In early 2016, we started a project to redefine our mission, vision and core values, as part of the Vesteda Improves (Vesteda Verbetert) programme. To this end, we set up a key group of around 10 people from various Vesteda departments.

Key developments core departments

Vesteda’s new organisational structure consists of the following three core departments: Portfolio Strategy (previously Portfolio Management), Operations (previously Property Management) and Acquisitions (previously Acquisitions & Development).

Key figures

Gross rental income increased due to higher theoretical rent, lower loss of rent and inflow of acquisitions. Theoretical rent came in at € 248 million, a slight increase compared to the € 245 million recorded in 2015.

Equity

At 31 December 2016, equity stood at € 3,045 million, compared with € 2,629 million at 31 December 2015.

Debt capital

The year 2016 represented the first full year after the end of the CMBS programme.

Tenant Survey

Vesteda has an annual tenant satisfaction survey carried out by an external agency specialised in the measurement of customer satisfaction.