• Noon (formerly Vitrum) redevelopment started; Well House development discontinued
• Announcing share buyback programme of up to 5% of outstanding shares
• Overall vacancy improving, progress slower than expected at Vivaldi II
• Full year EPRA EPS outlook adjusted downward
• Interim dividend maintained at € 0.75 per share

Please find the report and the presentation in the download section below.

As part of our financial results communication, below you can also find an additional video explaining the results in more depth. This video was generated using AI technology to make our investor relations content more accessible and engaging for investors, analysts, and the wider investment community. We welcome feedback on this approach and look forward to using new technologies to even better support our investment community.
 

– Ready to start redevelopment project Vitrum in Q2
– Solid balance sheet with LTV of 32.1% and no near-term debt maturities
– HNK Rotterdam Alexander 85% pre-let and successfully opened within budget
– EPRA vacancy increased to 12.6%, of which half concentrated in Vivaldi II and Newtonweg
– EPRA EPS of €0.35 in Q1, reflecting impact of disposals and increased vacancy
 

Please download the reports in the download section below, including the unofficial website version of the Annual Report as well as the audited financial statements and the auditor’s report in the Annual Report ESEF pack (official financial reporting). 

• Positive momentum on Vitrum, HNK Rotterdam Alexander, refinancing and disposals - partially offset by higher vacancy
• HNK Rotterdam Alexander will be 85% let at opening in February 2026, with project delivery on budget
• Close to signing contractor for Vitrum redevelopment - Start of project H1 2026, delivery H1 2028
• EPRA EPS €2.10 per share, stable year-on-year
• Year-end LTV at 34.3%; 32.2% pro forma adjusted for disposal of last Eindhoven asset
• Year-end EPRA vacancy rate at 9.2%, with year-on-year increase entirely due to Vivaldi II
• Full-year dividend proposed at €1.58 per share, based on minimum 75% pay-out ratio

As part of our full year results communication, below you can find an additional video explaining the results in more depth. This video was generated using AI technology to make our investor relations content more accessible and engaging for investors, analysts, and the wider investment community. We welcome feedback on this approach and look forward to using new technologies to even better support our investment community.
 

• Increase in EPRA EPS to EUR 1.58 for Q1 - Q3, up from EUR 1.51 last year
• GRI growth of 4.5% in Q3 on a like-for-like basis, of which 2.9% indexation
• EPRA vacancy up to 9.8% per Q3 2025, due to the return of Vivaldi II
• EPRA LTV of 35.4% provides comfort and significant capacity to invest
• Full year EPRA EPS guidance maintained at EUR 2.05 - 2.15

• All approvals for the upcoming redevelopment of Vitrum now in place – project start anticipated H1 2026
• Early refinancing of RCF and Term Loan provides necessary flexibility and capacity for investment plans
• Redevelopment of HNK Rotterdam Alexander on time and on budget (completion end 2025)
• H1 EPRA EPS of € 0.99, versus € 0.91 H1 last year
• Interim dividend maintained at € 0.75 per share

Please find the report and the presentation in the download section below.

– Strong increase in EPRA EPS to EUR 0.42 in Q1, up from EUR 0.35 last year
– GRI growth of 5.3% in Q1 on a like-for-like basis, of which 3.0% indexation
– Q1 LTV of 32.8% provides comfort and significant capacity to invest
– Full year EPRA EPS guidance maintained at EUR 2.05 - 2.15
 

Please download the reports in the download section below, including the unofficial website version of the Annual Report as well as the audited financial statements and the auditor’s report in the Annual Report ESEF pack (official financial reporting). 

• Excellent operational results, due to our relentless focus on location, flexibility, services and sustainability
• Sypesteyn acquisition in December 2024 moved from EPC label C to EPC label A+
• EPRA EPS €2.09 per share, an increase of 4% vs FY 2023
• Year-end LTV of 33.8%, providing ample opportunity to finance growth opportunities
• Year-end EPRA vacancy rate at 5.1% (4.5% excluding Sypesteyn acquisition in December 2024)
• Proposal to increase the full-year dividend by 3% to €1.57 per share, with stock-dividend alternative

– On the front foot: making good progress on all elements of our updated strategy
– Dutch office occupational and investment market outlook improving
– Significant balance sheet capacity for future growth plans
– €20m share buy-back programme completed
– EPRA EPS guidance for FY2024 raised to € 1.95 - 2.05

• On the front foot: In a strong position to explore profitable growth
• Repayment of Berlin Hyp loan; all financing now fully unsecured
• EPRA vacancy rate at 4.9% at H1 2024, down 0.3% since year-end
• H1 EPRA EPS of € 0.91, underpinned by 3.0% like-for-like rental growth
• Interim dividend maintained at € 0.75 per share

Please find the report and the presentation in the download section on the right-hand side.

– Resilient operational performance, investment market continues to be quiet 
– Completion of disposal of Laanderpoort to ING in January 2024 
– Strong balance sheet, with LTV at 30.9% at March 2024 
– Vacancy rate 5.2% at March 2024, stable vs year-end 
– €20m share buy-back programme started in Q1

Please download the reports in the download section on the right-hand side of this page, including the unofficial website version of the Annual Report as well as the audited financial statements and the auditor’s report in the Annual Report ESEF pack (official financial reporting). 

•  Back on the front foot: all elements in place to drive differential performance 
•  Successful sale of ‘ready to go’ Laanderpoort development to ING for € 24m 
• Strong operational performance with vacancy rate reduced to 5.2%; like-for-like GRI growth of 7.4% 
• EPRA NTA € 35.3 per share; Capital values down by 17.4% in 2023, reflecting higher rate environment 
• LTV at 31.5% (pro forma for sale of Laanderpoort) basis for € 20m share buyback programme

• Revised strategy to drive sustainable long term shareholder value creation 
• Continued robust operational performance; like-for-like GRI growth at 7.1% 
• Fiscal restructuring ahead of FBI regime abolishment per 1 January 2025 now underway 
• Dividend rebased to a more sustainable level, covered by recurring EPS 
• Management and Supervisory Board committed to continuing to consider all value-maximising options

•  Challenging operating environment due to simultaneous impact of WFH, interest rates and sustainability costs 
•  H1 capital value decline of 9.1% results in EPRA NAV of € 38.2 per June 2023 
• H1 EPRA EPS of € 1.02, underpinned by 4.7% net rental growth (7.3% gross)
• EPRA vacancy rate at 7.3% at H1 2023, up 0.6% over the quarter 
• Interim dividend set at € 0.75; new dividend policy to be proposed 
• Strategic review: interim update 

Please find the report and the presentation in the download section on the right-hand side.

• Review underway to map out fiscal, operational/strategic and capital options for a post-FBI environment 
• Pre-emptive fiscal restructuring prepared, in anticipation of prospective abolishment of FBI regime 
• Negative market momentum drives review of development pipeline (program, timing and funding) 
• Excellent balance sheet, with LTV at 26.4%; strong like-for-like gross rental income growth in Q1 at 5.2% 
• EPRA vacancy rate at 6.7% at Q1 2023, up 0.5% over the quarter

Please download the reports in the download section on the right-hand side of this page, including the unofficial website version of the Annual Report as well as the audited financial statements and the auditor’s report in the Annual Report ESEF pack (official financial reporting). The online version of the Annual Report can be found here. 

• Prospective abolishment of FBI regime in 2024 significantly distorts level playing field for Dutch listed property sector
• Mitigating measures by government are necessary; otherwise NSI will be forced into business/tax restructuring
• Strong gross like-for-like rental growth of 5.3% in Q3 2022, of which circa 3% contribution from indexation
• EPRA vacancy rate stable, at 6.9% at Q3 2022
• No decision made yet on start of Well House development
• EPRA EPS guidance raised to € 2.10 - € 2.15 for FY2022

• Solid operational performance, with 5% like-for-like gross rental growth, in a challenging economic environment 
• EPRA NTA of €48.34, with capital values up by 0.5% during the H1 period 
• EPRA vacancy rate at 6.6% at H1 2022 (vs 5.9% at H2 2021) 
• EPRA EPS of €0.99 per share; FY 2022 guidance maintained at €2.05-2.10 per share 
• Excellent balance sheet position with LTV at 27.6% 
   

Please find the report and the presentation in the download section on the right-hand side. 

Please download the reports in the download section on the right-hand side of this page, including the unofficial website version of the Annual Report as well as the audited financial statements and the auditor’s report in the Annual Report ESEF pack (official financial reporting). The online version of the Annual Report can be found here.

• Strong, focused investment portfolio and attractive 5.5% yield on cost on developments to drive long term returns 
• Flexible balance sheet with 28.2% LTV provides ample opportunity to pursue profitable growth 
• EPRA NTA of €48.23 per share, up 8.5% year-on-year, with capital values up 4.8% in 2021
• EPRA vacancy rate down by 1.1% to 5.9% 
• EPRA EPS at € 2.38 for FY 2021, up 1.3% year-on-year 
• Capital Markets day scheduled for 14 April 2022 

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- Office market momentum positive, with new office leases signed on average circa 4% ahead of ERV

- EPRA vacancy rate for Q3 2021 stable at 7.8% (5.6% excluding strategic vacancy)

- Solid balance sheet with LTV at 32.6%, vs 29.2% at December 2020

- EPRA EPS of € 1.78, with net rents up 4.8% ex Laanderpoort on a like-for-like basis

- EPRA EPS guidance confirmed at € 2.30 - € 2.35 for FY 2021

Please find the report in the download section on the right-hand side.

• Occupational and investment market outlook improving, as Covid 19-induced slowdown abates
• Significant step up in ambition with respect to ESG and future-proofing the portfolio
• EPRA vacancy rate for H1 2021 at 7.7% (5.7% excluding strategic vacancy)
• EPRA EPS for H1 2021 at € 1.16 per share, up € 0.01 vs H1 2020
• EPRA NTA € 44.97 up +1.2% vs YE 2020; asset values up 0.8%
• LTV at 32.6%, vs 29.2% at December 2020
• EPRA EPS guidance increased to € 2.30 - € 2.35 for FY 2021
• Interim dividend for H1 2021 maintained at € 1.04 per share

Please find the report and the presentation in the download section on the right-hand side. 

- Acquisition of two office assets in Amsterdam and one in Rotterdam for €79.8m, at an attractive 5.8% gross yield

- Continued asset rotation further strengthens overall investment portfolio, Amsterdam now 55% of assets

- Rent collection for Q1 2021 at 97.8%; Office/HNK rent collection at 99.6%

- EPRA vacancy rate 7.8%; 6.1% excluding strategic vacancy

- EPRA EPS €0.47 per share, down €0.07 vs 20Q1; Guidance remains €2.25 - €2.35 for full year 2021

- LTV at 33.0%, vs 29.2% at December 2020

Please download the attached report.

NSI has published its Annual and Remuneration report for 2020.

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• Robust business results in an unprecedented year, with rent collection at 98.0%
• EPRA vacancy rate of 7.0%, a 0.7% improvement on a like-for-like basis 
• EPRA EPS for FY 2020 of € 2.35 per share, net of € 0.08 COVID impact
• EPRA NTA of € 44.44 per share, down 7.3% vs year-end 2019
• LTV at 29.2% allows for future developments/acquisitions
• Full Year dividend stable at € 2.16 per share

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– Strong operational performance in H1 despite coronavirus impact
– Rent collection for Q2 2020 at 96.0%; Q3 2020 already at 90.4% per 10 July
– H1 EPRA EPS of € 1.14 per share, with net rents up 4.0% on a like-for-like basis
– EPRA NAV € 44.79, reflecting a 4.1% negative asset revaluation
– Vacancy rate of 7.8%; LTV of 29.2%– Re-instating EPRA EPS guidance for FY 2020 at € 2.30 - € 2.40
– Interim dividend confirmed at € 1.04

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• Strong solvency and liquidity in current uncertain coronavirus environment
• Rent collection of 85% for invoiced rent for month of April and for Q2
• EPRA EPS of € 0.54 per share, driven by like-for-like net rental growth of 9.9%
• Overall vacancy rate of 7.4%
• Final dividend of € 1.12 per share confirmed
• Withdrawing guidance for 2020 due to coronavirus-related uncertainty

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NSI has published its annual and remuneration report for 2019.

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Please download the report in the download section on the righthand side of this page.

• Strong momentum in leasing and asset rotation set to drive performance in Q4 2019
   
• EPRA NAV of €42.87 per share (up 7.8% vs year-end 2018)
   
• EPRA EPS of € 1.89 per share (1.9% lower vs Q3 2018)
   
• EPRA vacancy rate of 13.2% (improved by 0.6pp vs Q4 2018)
   
• Forecast YE 2019: EPRA vacancy rate below 10%
   
• Forecast FY 2019: EPRA EPS in range of € 2.50 - € 2.55 

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We are pleased to present our H1 2019 report. During the six-month period we have made further progress across the board.

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• Steady progress in disposals of office and retail assets outside focus markets
   
• Overall vacancy rate of 12.6%, down by 1.2% vs Q4 2018
   
• Like-for-like net rents in target cities up 2.8% in Q1 2019
   
• EPRA EPS of € 0.56 per share - flat adjusted for one-offs in Q1 2018
   
• Current leasing activity points to a below 11% vacancy rate end 2019

Please download the report in the download section on the righthand side of this page.

Please download the report in the download section on the righthand side of this page.

• Execution of strategy fully on track - strongly positioned for multiple opportunities ahead
   
• Vacancy rate of 13.8% (down 4.6% versus year-end 2017)
   
• EPRA NAV of € 39.75 per share (up 8% versus year-end 2017)
   
• EPRA EPS of € 2.64 per share (including € 0.12 in net negative one-off effects)
   
• A healthy balance sheet with an LTV of 36.9%
   
• Stable dividend of € 2.16 per share, with final dividend proposed at € 1.12 per share

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• Continued positive momentum in the business, pointing to an excellent FY 2018
• EPRA NAV € 38.25 per share (up 4% vs YE 2017)
• EPRA EPS of € 1.93 per share (net of € 0.11 negative IFRS 9 effects)
• Vacancy rate of 16.2%, down by 1.7% on a like-for-like basis (vs Q4 2017)
• YE 2018 vacancy rate expected in the range of 14.5-15.5%

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• Asset rotation and vacancy reduction driving operating performance
• Vacancy rate of 16.6% (down 1.8% versus year-end 2017)
• EPRA NAV of € 38.44 per share (up 5% versus year-end 2017)
• EPRA EPS of € 1.19 per share (net of € 0.11 negative IFRS 9 effects)
• FY 2018 EPRA EPS guidance raised to € 2.50-2.55 per share (was € 2.35-2.45)

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• Successful start of 2018, with debt refinancing extending maturities at a lower cost
• EPRA NAV €37.23 per share (up 2% vs YE 2017)
• EPRA EPS of €0.58 per share (up 2% on Q1 2017)
• Vacancy rate 18.8% (up 0.4% vs YE 2017)
• Leasing momentum points to like-for-like vacancy improvement for 2018

Please download the report in the download section on the righthand side of this page.

Please download the report in the download section on the righthand side of this page.

• Successful 2017, with more than €400m in transactions and new strategy well on track
• EPRA NAV €36.66 per share (up 6% vs YE 2016)
• EPRA EPS of €2.72 per share (up 3% on 2016)
• EPRA EPS to fall in 2018 due to net disposals in 2017
• €300m+ internal (re-)development program
• Vacancy rate down 3.0pp to 18.4%
• Stable dividend of €2.16 per share, with final dividend at €1.12 per share

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• EPRA EPS of €2.01 per share (up 13.1% on Q3 2016)
• EPRA NAV €35.07 per share at September 2017 (up 1.3% vs YE 2016)
• Vacancy rate improved to 21.1% (down 1.1% vs H1 2017)
• Guidance for EPRA EPS 2017 raised to €2.64-2.68 per share
• Disposal of five assets in Q3 2017, on average 6% above book value
• Acquisition of a 6,600sqm office building next to Eindhoven Central Station for €13.6m

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• Execution of new strategy on track, with combined €337m of acquisitions/disposals in H1
• EPRA EPS of €1.35 per share (up 21% on H1 2016)
• EPRA NAV €35.10 per share at June 2017 (up 1.4% vs YE 2016)
• Net rents up 1.8% on a like-for-like basis in H1 2017
• Stable interim dividend of €1.04 per share, with optional share dividend
• Acquisition of a 7,200sqm office building in Leiden for €17.5m

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• Positivemomentumin execution of new strategy
• EPRA EPSgrowth of 30% to €0.07 (Q1 2016: €0.05)
• Strong like-for-like NRI growth, up 5%vs Q1 2016
• EPRA cost ratio reduced to 29.0% (Q1 2016: 32.2%)

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Please download the report in the download section on the righthand side of this page.

Highlights of the Full Year 2016 are:

• NSI sets a new, ambitious, strategy focussing on Dutch offices and HNK
• Direct result 2016 of €0.34 per share, above €0.31-0.33 guidance range
• EPRA NAV €4.33 at year-end (-9.6% vs YE 2015)
• EPRA vacancy rate reduced to 21.4% at year-end (-2.9% vs YE 2015)
• Net rents flat (-0.2%) on a like-for-like basis in 2016
• Outlook for Dutch economy improving; Office market in recovery
• Daniel van Dongen, CFO, to step down following AGM on 21 April 2017

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Highlights of the last 9 months are:

• Guidance direct result per share 2016 is maintained at €0.31- €0.33
• Security release on €450m in bank facilities effected at 1 September 2016
• Financial occupancy rate up 1.9% to 79.2% year-to-date
• Strategic update to be announced as part of the preliminary Full Year results on 14 February 2017

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