Wereldhave raises direct result per share to €0.49 in third quarter
Key Facts
Wereldhave said on November 3, 2026, that direct result per share rose to €0.49 in the third quarter, compared with €0.46 in the second quarter, adding that the increase reflected an acceleration in quarterly performance. The update comes as the company reports growth in rental income and direct result over the first nine months of the year. Direct result was €78.481 million, compared with €74.284 million in the same period of 2025, an increase of 5.6%. Per share, direct result rose to €1.40 from €1.36, an increase of 2.9%. The comparison between quarterly and cumulative performance puts the figures in context: the third quarter improved on the second quarter, while growth in direct result per share over the nine months remained relatively limited.
Gross rental income for the nine months rose to €145.540 million from €137.287 million in the corresponding period of 2025, an increase of 6.0%. Net rental income increased to €119.189 million from €113.806 million, up 4.7% year on year. The company attributed quarterly growth to positive rental differences, higher other income and lower costs. In the Netherlands, the positive leasing spread was 0.4% in the third quarter, indicating improved income from new or renewed leases compared with previous contracts. The financial indicators came alongside occupancy of 97.4%, while visitor numbers at the centres increased 0.8% year on year in the first nine months. The company also said rent collection reached 99%, reflecting continued collection at a high level during the quarter.
On asset management, Wereldhave completed the sale of Eggert shopping centre in Purmerend to French fund Transitions Europe on October 30 for €62.8 million, excluding transfer tax. The centre comprises approximately 20,700 square metres of lettable space and 55 stores, and receives approximately 4.4 million visitors annually. Wereldhave retained asset management, leasing and property management after the sale, and will continue providing these services for the centre despite the change in ownership. The company said the sale of De Mael and Eggert lowers the net loan-to-value ratio by around 250 basis points compared with June 30, 2026. The transaction links asset sales with reduced leverage while Wereldhave retains an operational and management role at Eggert. The company’s portfolio comprises 21 centres in the Netherlands, Belgium, Luxembourg and France.
On financing, Wereldhave Belgium agreed two new five-year credit facilities, each worth €30 million. The company said liquidity is secured through the second half of 2029 and that 86% of its debt carries fixed interest rates. The new facilities provide a financing framework for its Belgian subsidiary, while the share of fixed-rate debt limits the exposure of a large portion of liabilities to interest-rate changes. Wereldhave reaffirmed its 2026 financial-year guidance for direct result per share at a range of €1.85 to €1.95. It also said operating efficiencies from the new Dutch structure are expected to contribute positively to direct result from 2027. The guidance keeps investors focused on the company’s ability to sustain rental income growth and convert operating gains into higher per-share results.
In an upcoming management change, the supervisory board nominated Remco Langewouters as chief legal officer and chief financial officer, effective December 9, 2026. Langewouters has served as interim chief financial officer since May 2026, after working as group controller for eight years. The extraordinary general meeting is scheduled to vote on his appointment on December 9, with the meeting due to start at 10:30 Central European Time. The vote makes the CFO appointment one of the company’s key upcoming dates, alongside delivery of its annual guidance. The company says the expected financial impact of the new Dutch structure will begin to show in direct result from 2027.