Ctp NV
AEX:CTPNV
Ctp NV
CTP NV, once a local entrepreneurial venture, has emerged as a formidable player in the European real estate market. Founded by Dutch entrepreneur Remon Vos in the late 1990s, the company began acquiring land and developing industrial properties in Central and Eastern Europe. With a vision to bridge the gap between quality and cost-effective industrial properties, CTP NV strategically capitalized on the region’s growing demand for logistics and manufacturing spaces. Over the years, it expanded its footprint across multiple European countries, establishing a network of business parks designed to cater to a wide range of industries, from automotive and electronics to e-commerce and logistics. Today, CTP NV stands as one of the largest owners, developers, and managers of logistics and industrial parks in the region.
The company's business model is elegantly simple yet robust. It specializes in developing high-quality, tailor-made business parks which it leases to tenants through long-term contracts, providing a steady stream of rental income. CTP NV distinguishes itself by offering integrated services, which ensures that each facility is designed to meet the specific needs of its tenants, thereby enhancing value and tenant satisfaction. The strategic location of its properties near major transport routes further boosts their attractiveness. Additionally, the company is deeply committed to sustainability, integrating environmentally friendly practices into its developments, which not only caters to the growing demand for green real estate but also aligns with increasing regulatory requirements. Through this approach, CTP NV has established a sustainable profit model, effectively positioning itself for long-term growth in the rapidly evolving European industrial real estate market.
CTP NV, once a local entrepreneurial venture, has emerged as a formidable player in the European real estate market. Founded by Dutch entrepreneur Remon Vos in the late 1990s, the company began acquiring land and developing industrial properties in Central and Eastern Europe. With a vision to bridge the gap between quality and cost-effective industrial properties, CTP NV strategically capitalized on the region’s growing demand for logistics and manufacturing spaces. Over the years, it expanded its footprint across multiple European countries, establishing a network of business parks designed to cater to a wide range of industries, from automotive and electronics to e-commerce and logistics. Today, CTP NV stands as one of the largest owners, developers, and managers of logistics and industrial parks in the region.
The company's business model is elegantly simple yet robust. It specializes in developing high-quality, tailor-made business parks which it leases to tenants through long-term contracts, providing a steady stream of rental income. CTP NV distinguishes itself by offering integrated services, which ensures that each facility is designed to meet the specific needs of its tenants, thereby enhancing value and tenant satisfaction. The strategic location of its properties near major transport routes further boosts their attractiveness. Additionally, the company is deeply committed to sustainability, integrating environmentally friendly practices into its developments, which not only caters to the growing demand for green real estate but also aligns with increasing regulatory requirements. Through this approach, CTP NV has established a sustainable profit model, effectively positioning itself for long-term growth in the rapidly evolving European industrial real estate market.
Strong Rental Growth: Like-for-like rental growth was 4.5% in Q3 2025, and new leases were signed at rents 6% higher than the previous year.
Solid Financials: Net rental income rose 15.4% to EUR 549 million, while annualized rental income reached EUR 778 million; EPS grew 7.2% to EUR 0.64.
Development Pipeline: The company has 2 million square meters under construction and is on track to deliver between 1.3 and 1.6 million square meters this year.
Occupancy & Retention: Occupancy remained stable at 93%, below the 95% target, with some markets (Poland, Germany) still ramping up; retention rate was 82%.
Romania Acquisition: A planned EUR 250 million Romanian acquisition was canceled for antimonopoly reasons, pushing full-year EPS guidance to the lower end of the EUR 0.86–0.88 range.
Funding & Liquidity: Recently upgraded to BBB flat by S&P; loan-to-value is 45.2%, cash position stands at EUR 1.1 billion, and liquidity totals EUR 2.4 billion.
Expansion Plans: Growth continues in Central Europe, Italy (new market), and a cautious entry into Vietnam, focusing on existing client demand.
Guidance Reaffirmed: Management confirmed delivery and leasing guidance for 2025 and 2026, with a target of EUR 1 billion in annual rent by 2027.
