The closed-end real-estate investment company Warehouses De Pauw (Euronext: WDP) booked an operating profit for 2005 of EUR 20.8 million and thus exceeds expectations slightly.
The operating profit per share came to EUR 2.63. WDP's Board of Directors will suggest to the annual shareholders' meeting that a gross final dividend of EUR 1.35 (net EUR 1.15 per share), as a result of which the total gross dividend for 2005 amounts to EUR 2.47 per share (net EUR 2.10 per share). For 2006 WDP anticipates at least equalling the 2005 result.
In addition to its results for 2005, WDP also presents its strategic long-term plan 2006-2009 today. With this plan, WDP wants to achieve a doubling of its current real-estate portfolio not later than the end of 2009, and to further position itself as the European logistic partner par excellence, who is able to offer the best total logistic real-estate solution in its geographic key areas. WDP wishes to obtain this growth via 3 tracks: EUR 100 to 150 million of new investments in the 2 current key regions, the acquisition and integration of one or more existing portfolios for a total value of EUR 100 to 150 million, and finally the addition of a new geographic market area to the 2 current key regions. For financing this growth scenario, WDP will employ its current investment potential in the first instance.
Source: WDP
