Core Insights - Nextensa reported strong financial results for the year 2025, with a net result of €33.2 million, marking a significant recovery from a loss of €10.8 million the previous year, driven by increased profitability from development activities and reduced financing costs [4][12] Financial Performance - The company achieved a profitability increase of €33.8 million, attributed to a €1.8 million rise in development contributions and a €9.2 million decrease in financing costs, alongside a strengthened balance sheet [1][4] - The average cost of financing stabilized at 2.90%, aided by a hedging strategy and reduced financial debt [10] Capital Management - Nextensa executed targeted transactions totaling €360 million during 2024 and 2025, which helped reduce the debt ratio from 45.39% to 38.80%, enhancing financial flexibility [2] - The company has sold over €550 million in assets since its formation in 2021, further lowering the debt ratio to 38% [14] Development Projects - Key development projects include the Lake Side project and BEL Towers, with construction costs estimated at €265 million and €300 million respectively, expected to commence in 2026 [3] - The Proximus HQ at Tour & Taxis has been confirmed as the new headquarters location, with full pre-leasing of the Lake Side office project [5] Rental Income and Property Performance - Like-for-like rental income increased by over 3% year-on-year, reflecting strong performance at Tour & Taxis and contributions from major renovations [6] - The investment property portfolio remained resilient, with limited revaluations despite a volatile market [4] Strategic Outlook - Nextensa is positioned to continue creating sustainable long-term value through disciplined execution and selective investments, despite ongoing economic uncertainties [13] - The company maintains a high-quality development pipeline and sufficient financial headroom for upcoming projects [13]

Core Insights - Nextensa has sold its retail park Gewerbepark Stadlau in Vienna to an open-ended special real estate fund managed by Union Investment, with the transaction valued at € 35.95 million [2][3]. Group 1: Transaction Details - The retail park, located in Donaustadt, Vienna's 22nd district, was originally built in 1996 and underwent extensive restructuring in 2016, expanding by approximately 3,000 m² [2]. - The asset features a lettable area of nearly 11,000 m² and is currently fully let, with anchor tenants including TK Maxx, Intersport, Lidl, and dm [2]. Group 2: Strategic Alignment - This sale aligns with Nextensa's strategy to optimize its real estate portfolio while pursuing sustainability objectives [3]. Group 3: Company Overview - Nextensa is a mixed-use real estate investor and developer, with its investment portfolio distributed across Luxembourg (31%), Belgium (52%), and Austria (17%), totaling approximately € 1.1 billion as of September 30, 2025 [4]. - The company is actively involved in large urban developments, including projects in Brussels and Luxembourg, focusing on a mix of offices, retail, and residential buildings [5]. - Nextensa is listed on Euronext Brussels, with a market capitalization of € 423 million as of September 30, 2025 [6].

Core Insights - Nextensa achieved solid results in Q3 2025, with a significant increase in net profit driven by development activities, lower financing costs, and a strengthened balance sheet [1] - The company completed three significant transactions in Q3 2025, reducing its debt ratio to 38.26%, which enhances its capacity for future sustainable urban development projects [1] Investment Properties - Rental income (like-for-like) increased by 5.67% during the first nine months of 2025, attributed to strong performance at the Tour & Taxis site and contributions from major renovations like Moonar in Luxembourg [2] - Net rental income decreased by 18% compared to the same period last year due to property sales completed in 2024 and 2025 [2] Development Projects - The performance of development projects remains consistent with the previous year, with 96% of the apartments in the second phase of the Park Lane residential project sold or reserved [3] - The Stairs project in Cloche d'Or is progressing on schedule, with residential sales gaining momentum [4] - A nine-year lease agreement was signed for the Terraces office building with a major financial institution, with construction expected to commence shortly [4] Sales Transactions - Nextensa sold its entire 8.99% stake in the Belgian REIT Retail Estates for proceeds of €89.6 million on August 28, 2025 [5] - The company sold 100% of Monteco BV for €28 million on September 17, 2025 [5] - A retail property in Ingeldorf, Luxembourg, was sold to the State of Luxembourg for €19.6 million on September 29, 2025 [5] Financial Performance - The net result (Group share) for Q3 2025 amounted to €35.2 million, or €3.48 per dividend-entitled share, compared to €20.9 million or €2.70 per share at the end of Q3 2024 [6] - The average cost of financing decreased from 2.86% to 2.79%, supported by an interest rate hedging strategy and a reduction in the financial debt ratio [7] Company Overview - Nextensa is a mixed real estate investor and developer with an investment portfolio valued at approximately €1.1 billion as of September 30, 2025, distributed across Luxembourg (31%), Belgium (52%), and Austria (17%) [8] - The company is involved in large-scale urban projects, including a mixed-use district in Tour & Taxis, Brussels, and a major urban expansion project in Cloche d'Or, Luxembourg [9]

Core Insights - Nextensa and Promobe have signed a nine-year fixed lease agreement for the entire Terraces office building in the Cloche d'Or district, indicating strong demand for office space in this area [1][2] - The lease rate is set at €40 per square meter per month, which is index-linked, reflecting a stable income stream for the developers [2] - The Terraces office building will offer 4,703 m² of lettable office space and is designed to achieve BREEAM Outstanding and WELL Gold certifications, showcasing a commitment to sustainability [3] Company Overview - Nextensa is a mixed-use real estate investor and developer focused on office, retail, and residential projects in Luxembourg, Belgium, and Austria [5] - Promobe is a significant player in real estate development within the Grand Duchy of Luxembourg, contributing to the growth of urban districts like Cloche d'Or [6] Project Details - The Terraces office building will consist of a ground floor and five upper levels, with construction expected to begin shortly and completion anticipated in Q2 2027 [2][3] - The Cloche d'Or district is rapidly developing, featuring over 120,000 m² of office space and excellent accessibility, including a tram line inaugurated in July 2024 [4]

Core Points - Nextensa has sold a retail site in Ingeldorf to the State of the Grand Duchy of Luxembourg for a net amount of €19.6 million [2] - The retail property has been part of Nextensa's portfolio since 2008 and includes a Batiself building and an extension housing Siemes Schuhcenter [2] - This transaction aligns with Nextensa's strategy to optimize its real estate portfolio while pursuing sustainability objectives [2] Company Overview - Nextensa is a mixed-use real estate investor and developer with a total investment portfolio value of approximately €1.1 billion as of June 30, 2025 [3] - The company's portfolio is geographically divided with 32% in Luxembourg, 51% in Belgium, and 17% in Austria [3] - Nextensa is actively involved in large urban developments, including projects in Brussels and Luxembourg [4] Market Information - Nextensa is listed on Euronext Brussels with a market capitalization of €426 million as of June 30, 2025 [5]

Group 1 - Nextensa and ION have completed the sale of 100% of their shares in Monteco BV, which owns the Monteco building in Brussels, to Caisse d'Épargne et de Prévoyance Hauts de France [1][2] - The Monteco building, located in the Brussels EU District, offers approximately 3,760 m² of prime office space and 14 underground parking spaces, and has been fully occupied by Bank Nagelmackers under a long-term lease since its completion [2][3] - The transaction reflects a property valuation of €28 million, indicating strong demand for high-quality and sustainable office buildings in prime locations [2][3] Group 2 - Nextensa's investment portfolio is diversified across Luxembourg (32%), Belgium (51%), and Austria (17%), with a total value of approximately €1.1 billion as of June 30, 2025 [4] - ION is a leading project developer and real estate investor in the Benelux region, with a market value of projects under development amounting to €3.1 billion [6] - Both companies are recognized for their commitment to sustainable development and high architectural quality, with ION's project awarded Best New Development at MIPIM 2025 [6]

Core Insights - Ackermans & van Haaren reported a strong profit growth of 273 million euros for H1 2025, representing a 36% increase compared to the previous period [1] Group 1: Financial Performance - The half-year results were bolstered by record performances from DEME, Delen Private Bank, Bank Van Breda, and SIPEF [1] - Nextensa showed a significant improvement in results [1] - The company maintains a positive net cash position of 431 million euros [1] Group 2: Outlook - The outlook for the full-year 2025 has been strengthened, with net profit expected to increase by at least 15% [1]

Group 1 - Nextensa has sold its entire 8.99% stake in the Belgian REIT Retail Estates for €66.30 per share, generating total proceeds of €89.6 million, which is a significant capital gain compared to the previous valuation of €61.50 per share [1][2] - The transaction results in a strong cash inflow, reducing Nextensa's debt ratio to below 40%, thereby enhancing the company's balance sheet and financial capacity for future investments [2] - This sale aligns with Nextensa's long-term vision to free up capital for reinvestment in innovative and sustainable urban development projects, reflecting a proactive investment policy [3] Group 2 - Retail Estates has developed into a solid and successful company in its segment, and Nextensa has supported its growth for over 25 years, realizing a clear capital gain through this transaction [4] - Nextensa's investment portfolio is diversified across Luxembourg (32%), Belgium (41%), and Austria (17%), with a total value of approximately €1.1 billion as of June 30, 2025 [6] - The company is actively involved in large urban developments, including projects in Brussels and Luxembourg, focusing on mixed-use real estate [6]

Core Viewpoint - Nextensa demonstrated significant profitability growth in the first half of 2025, driven by development activities, reduced financing costs, and a stronger balance sheet despite a challenging economic environment [1][3]. Financial Performance - Net profit for H1 2025 was €19.9 million, or €1.96 per share, marking a 41% increase from €14.1 million or €1.39 per share in the same period last year [4]. - Underlying rental income saw a like-for-like increase of 5.45%, primarily due to improved occupancy at Tour & Taxis and contributions from major renovations [4]. - Total rental income decreased by 19.6% compared to the previous year, attributed to divestments totaling approximately €230 million [1][4]. Strategic Transactions - The sale of the Knauf shopping centres for €165.75 million bolstered the company's financial position [2]. - Proximus's selection of Tour & Taxis as its new headquarters, with full pre-leasing of the Lake Side office project, highlighted the attractiveness of Nextensa's sustainable urban developments [2]. - The acquisition of the Proximus Towers (BEL Towers) for redevelopment into a mixed-use sustainable project further reinforced Nextensa's sustainability goals [2][11]. Development Projects - The Stairs office building at Cloche d'Or is on track for completion by March 2026, with a lease signed with PwC Luxembourg for 9,500 m² of office space in the Eosys building, scheduled for delivery in September 2027 [6]. - The final phase of D5-D10 at Cloche d'Or has seen 153 apartments sold or reserved, achieving an occupancy rate of 83% as of June 30, 2025 [7]. - At Tour & Taxis, 327 out of 346 residential apartments have been sold or reserved, indicating strong demand [9]. Financial Management - The average financing cost of the investment portfolio decreased from 2.86% to 2.71%, aided by a hedging policy and reduced financial debt [10]. - The financial debt ratio improved to 43.41% following the sale of the Knauf shopping centres, down from 45.39% at the end of 2024 [10]. - The average maturity of credit lines is now 2.85 years, with available headroom of €135 million [10]. Company Overview - Nextensa's investment portfolio is valued at approximately €1.1 billion, with geographical distribution of 32% in Luxembourg, 51% in Belgium, and 17% in Austria [12]. - The company focuses on large urban developments, including the Tour & Taxis project in Brussels and the Cloche d'Or urban extension in Luxembourg [13]. - Nextensa is listed on Euronext Brussels, with a market capitalization of €426 million as of June 30, 2025 [14].

Core Insights - Nextensa, in collaboration with Promobe through their joint venture Grossfeld, has initiated the construction of Eosys, a sustainable office building at Cloche d'Or, Luxembourg, with a major lease agreement signed with PwC Luxembourg for 9,488m² of office space [4][5] - The Eosys project spans 12,355m² and is set to accommodate approximately 630 employees from PwC Luxembourg, marking a significant expansion of the company's presence in the Cloche d'Or district [5] - The building is designed by architect Andrew Philips and aims for BREEAM "Outstanding" certification, emphasizing sustainability and well-being with features such as a wellness area, gym, and landscaped terrace [6] Company Overview - Nextensa is a mixed-use real estate investor and developer focused on office, retail, and residential projects in Luxembourg, Belgium, and Austria [8] - Promobe is a significant player in real estate development within the Grand Duchy of Luxembourg [9] Project Details - Eosys will be a contemporary, high-end 13-storey building characterized by a golden anodised aluminium façade and a strong architectural identity [6] - The delivery of the Eosys building is scheduled for September 2027, reinforcing the long-term confidence of major corporations in the Cloche d'Or urban hub [5][7] - Cloche d'Or has evolved into a leading urban district in Luxembourg, combining residential, work, retail, and leisure functions, with over 120,000m² of office space already constructed [7]