VGP NV (OTCPK:VGPBF) Full Year 2024 Results Earnings Conference Call February 20, 2025 4:30 AM ET
Company Participants
Jan Van Geet – Chief Executive Officer
Martijn Vlutters – Vice President-Business Development and Investor Relations
Piet Van Geet – Chief Financial Officer
Conference Call Participants
Frédéric Renard – Kepler Cheuvreux
Marios Pastou – Bernstein
Wim Lewi – KBCS
Steven Boumans – ABN AMRO-ODDO BHF
Edoardo Gili – Green Street
Francesca Ferragina – ING
Thomas Rothaeusler – Deutsche Bank
Paul May – Barclays
Ventsi Iliev – Kempen
Operator
Good day and welcome to today’s VGP Full Year 2024 Results Call. Throughout today’s recorded presentation, all lines will be in a listen-only mode. Later we will conduct a question-and-answer session. [Operator Instructions]
And now I’d like to hand the call over to your host, Mr. Jan Van Geet, CEO. Please go ahead, sir.
Jan Van Geet
Good morning, everybody on the call and thank you for being here present at our VGP financial results call. I will start immediately with the executive summary. The building, which you’re seeing on the picture now is our battery assembly plant in Pamplona. Manufacturing projects have been the main driver of our new rental income in 2024, of which most of them we closed actually in the first quarter. And the one which you’re seeing is Mobis Hyundai in Pamplona, which is now virtually finished.
I will immediately go to the highlights in 2024. I’m happy to announce a net profit of €287 million, which is an increase of €200 million versus 2023, or 229%. Many of you look at the EPRA NTA while it’s up 7% despite the fact that we have paid dividend last year of more than €100 million. And the net asset value growth is 8.4%, up to €2.4 billion. Our EBITDA, and I’m very happy that all of our recurrent businesses have contributed to it
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