VGP SA (VGPBF) Q2 2026 Earnings Call August 20, 2026 4:30 AM EDT
Company Participants
Jan Van Geet – Founder, CEO & Executive Director
Piet Geet – CFO & Secretary
Martijn Vlutters – Vice President of Business Development & Investor Relations
Conference Call Participants
Vivien Maquet – Banque Degroof Petercam S.A., Research Division
Marios Pastou – Bernstein Institutional Services LLC, Research Division
Suraj Goyal – Green Street Advisors, LLC, Research Division
Steven Boumans – ODDO BHF Corporate & Markets, Research Division
Thomas Rothaeusler – Deutsche Bank AG, Research Division
Pieter Runneboom
Presentation
Operator
Welcome to the review of VGP’s financial results over half year 2026. [Operator Instructions] Now I will hand the conference over to the speakers. Please go ahead.
Jan Van Geet
Founder, CEO & Executive Director
Good morning, everybody, and welcome to the presentation or webcast of our performance over the first half year. I’ll start with an executive summary of what has happened. So the first quarter of the year actually started very well, and the second quarter was a little bit subdued through this Operation Epic Fury, which everybody has been following with great interest. It seems now that dust is settling a little bit. The third quarter has been very well so far, and we have very nice prospects for the rest of the year, especially in newly signed lease agreements underway.
We report a net profit before tax of EUR 141 million, EUR 140.9 million. That’s EUR 120 million net profit after tax, earnings per share of EUR 4.26. We also report an EBITDA of EUR 186.4 million, and you will be probably pleased to hear that EUR 130.5 million from that is recurring investment segment, so recurrent income. We had EUR 128.2 million of net rental and renewable income at share, which is a growth of 17.9% year-on-year on a proportional basis.
