Warehouses de Pauw (WDP) reported a 7% year-over-year increase in underlying earnings per share (EPS) for fiscal year 2025, reaching €1.53. The logistics real estate company met its guidance for the year. Additionally, WDP unveiled a new five-year growth plan, aiming for at least 6% annual earnings growth through 2030, signaling confidence in its future.

WDP's rental income rose to €449 million, up 13.5% from the previous year, with like-for-like rental growth exceeding inflation at 2.3%. The company maintained a high occupancy rate of 97.7%. Looking ahead, the "#BLEND&EXTEND2030" plan targets EPRA EPS of at least €2.00 by 2030, with a dividend per share expected to grow at the same rate.

The new growth plan will be financed through €500 million in internally generated capital annually. WDP is maintaining a net debt/EBITDA ratio of approximately 8x and a Loan-to-Value of around 40%. The company's investment pipeline is valued at €708 million, providing visibility on future cash flow. This comes as the industrial real estate sector continues to attract investment.

WDP's focus remains on disciplined EPS-driven growth. The company forecasts EPRA EPS of €1.60 for 2026. The real estate market has seen strong demand for logistics space. Investors will be watching WDP's execution of its ambitious 2030 targets and its ability to navigate potential economic headwinds.