9M 2024 FINANCIAL HIGHLIGHTS
- Revenues from rental activity up 3% to €139m in 9M 2024 (€135m in 9M 2023)
- Gross margin from rental activity up 2% to €97m in 9M 2024 (€95m in 9M 2023)
- FFO I at €55m in 9M 2024 (€52m in 9M 2023), FFO per share at €0.10
- EPRA NTA at €1,248m as of 30 September 2024 (€1,232m as of 31 December 2023) EPRA NTA per share at €2.17 (PLN 9.37)
- Net LTV at 48.8%¹ (49.3%¹ as of 31 December 2023); Net LTV adjusted for cash on escrow accounts at 48.0%
- Cash of €49m³; cash on the escrow accounts of €21m
Notes: (1) Includes non-current financial assets (2) Includes office building held for sale; (3) Includes cash related to assets held for sale.
9M 2024 PORTFOLIO HIGHLIGHTS
- Occupancy at 87%² as of 30 September 2024 (87% as of 31 December 2023)
- Leasing activity reached 90,000 sqm in 9M 2024 (28,200 sqm in Q3 2024)
- Average weighted lease term at 3.7 yrs.
- Diversification of the portfolio towards the higher rated markets and new sectors with
- Disposal of Lanchid revitalization project (non-core) in Budapest (finalized in Q3 2024),
- Acquisition of Elibre, senior living for rent project in Berlin (finalized in H1 2024)
- Acquisition of a residential portfolio in Germany, comprising 5,165 residential units, 47 commercial spaces, and 2,108 parking spots across Kaiserslautern, Helmstedt, and Heidenheim (to be finalized in 2024).
- Consolidation of cash prior to the Eurobonds maturity in 2026 through:
- Disposal of GTC X office building in Belgrade (to be finalized in Q4 2024)
- Disposal of Matrix C in Zagreb (to be finalized in Q4 2024).
