The logistics and industrial real estate service provider VGP had a successful year last year

By: Trademagazin Date: 2024. 02. 28. 08:21

VGP closed a successful year, the company’s net rental income rose to 159.1 million euros last year, and its profit increased to 87.3 million euros, the European provider of logistics and light industrial real estate told MTI on Tuesday.

According to the statement, VGP Group’s net profit was 87.3 million euros, which is an increase of 209.8 million euros compared to the 2022 financial year.

It was announced that the net rental income increased by 48 percent, from 107.4 million euros to 159.1 million euros. The company expects an additional increase of 41.3 million euros in 2024.

According to the information, the total acquired land stock at the end of 2023 was 9.4 million square meters, which means more than 4.3 million square meters of real estate development potential.

Within the group, Eastern Europe – primarily Romania, Slovakia, the Czech Republic and Hungary – accounted for 54 percent of the new leasing contracts, they added.

In Hungary, 59,000 square meters of real estate were handed over last year, and construction is still underway on another 100,000 square meters. For example, 28,000 square meters are under development in the VGP Park Budapest Aerozone, 38,000 square meters in the VGP Park Kecskemét, and 33,000 square meters in the VGP Park Győr.