WEB SA Reports Stable Performance Amid Economic Challenges

Warehouse Estates Belgium S.A. (WEB SA) reported its statutory half-year results for 2026, highlighting a resilient performance in a challenging economic climate. The occupancy rate improved to 97.44%, driven by active leasing efforts despite structural vacancy from ongoing development projects. The company's property portfolio increased in fair value to €344.3M, a rise of 1.29% since December 2025.

The net result showed a significant 40.12% increase to €8.42M, partly due to the portfolio's appreciation, despite a decrease in rental income linked to tenant departures. The debt ratio slightly increased to 47.65% after paying the 2025 annual dividend but is supported by effective interest rate risk management. WEB SA's strategy emphasizes selective investment and maintaining consistent growth and stability. The board remains cautiously optimistic about the company's future financial performance, with an outlook of stable earnings per share aligned with previous years.