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WDP: WDP's Strong FY2025 Performance and Ambitious 2030 Targets

WDP delivered a robust full-year 2025 performance, with an EPS of EUR 1.53, representing a 7% year-on-year growth. The company's occupancy rate stood at 97.7%, with over 0.5 million square meters of new leases, and a portfolio value growing to EUR 9 billion. The actual EPS came out at EUR 0.38 relative to estimates at EUR 0.36 for the quarter. WDP secured EUR 600 million in new investments at a net initial yield of 6.8% and maintained a strong balance sheet with a loan-to-value ratio of 40% and a net debt to EBITDA of 7.5.

WDP.BR

EUR 24.2

0.17%

A-Score: 6.2/10

Publication date: January 30, 2026

Full Report

Author: Analystock.ai

📋 Highlights
  • Strong EPS Growth: 2025 EPS of EUR 1.53, up 7% YoY, with 2026 guidance at EUR 1.60 (5% growth).
  • High Occupancy & Portfolio Expansion: 97.7% occupancy, EUR 9 billion portfolio value, and 0.5 million sqm new leases secured.
  • Balance Sheet Strength: Loan-to-value ratio of 40%, net debt/EBITDA of 7.5x, and A3 credit rating from Moody's.
  • 2030 Growth Targets: EUR 2 EPRA EPS (6% CAGR) and 10%+ total returns annually, with EUR 500M/year investments in Energy division (solar/battery IRR: 8–20%).
  • Strategic Expansion: EUR 1 billion in development projects by 2030, 10% stake in Catena for EU logistics integration, and EUR 250–300M annual equity raises to reduce leverage.

Financial Guidance and Outlook

WDP targets an EPS of EUR 1.7 by 2027 and has extended its horizon to 2030 with a goal to scale into an integrated EU platform, providing total supply chain infrastructure solutions. The company targets an EPRA EPS of at least EUR 2 by 2030, with a 6% average growth rate, and aims to achieve double-digit total returns of at least 10% per year. For 2026, WDP is guiding for an EPS of EUR 1.60, representing 5% growth year-on-year.

Valuation Metrics

With a P/E Ratio of 15.08 and an EV/EBITDA of 18.17, the market is pricing in a certain level of growth for WDP. The company's ROE is 7.83%, and its ROIC is 3.51%. The Net Debt / EBITDA ratio is 6.87, indicating a relatively high level of leverage. Analysts estimate next year's revenue growth at 8.0%.

Investment Strategy and Energy Division

WDP's strategy, BLEND&EXTEND2030, focuses on scaling, selective acquisitions, and decarbonizing the logistics supply chain. The company plans to invest EUR 500 million per year, mainly internally funded, and maintain a stable capital structure. The Energy division's investments will focus on the rollout of the solar panel program, on-site batteries, and stand-alone battery projects, targeting a doubling of revenue to EUR 50 million in 2030.

Market Trends and Partnerships

WDP is well-positioned to capture market demand, with a high-quality portfolio and a strong commercial platform. The company is expanding its presence in Spain and Italy, with a focus on selective acquisitions and developments. The partnership with Catena is viewed as a strategic partnership that expands WDP's capabilities and offers total solutions to clients across Western Europe.

WDP's A-Score