• Rental revenues up to €42m in Q1 2022 (€37m in Q1 2021)
  • Gross margin from rental activity up to €30m in Q1 2022 (€27m in Q1 2021)
  • Adjusted EBITDA up to €26m in Q1 2022 (€24m in Q1 2021)
  • FFO I at €16m in Q1 2022 (€14m in Q1 2021), FFO per share at €0.03
  • EPRA NTA at €1,288m as of 31 March 2022, EPRA NTA per share at €2.24 (PLN 10.43)
  • Net LTV at 43%
  • Proposed dividend from 2021 profits of
    PLN 0.28/share
  • Strong cash position of €278m and available credit facilities in the amount of €94m


  • Occupancy at 91% as of 31 March 2022 (90% as of 31 December 2021)
  • Disposal of Serbian office buildings for €268m (above the book value) completed in January 2022
  • Completion of Pillar, Class A office building in Budapest (29,100 sq m GLA)
  • Commencement of Matrix C, Class A office building in Zagreb (10,500 sq m GLA)
  • 88% of assets green certified, 11% under certification process

“2021 has brought excellent performance figures and as a result, we recommended our shareholders to pay a dividend of PLN 0.28 per share on 2021 profit, marking a return to regular dividend payments. Our Q1 2022 results show that this year is also going to be solid, despite the disposal of the Serbian office portfolio. Operating performance, particularly of the retail sector is very strong and promising, while the office sector will further require our attention. We will be also focusing on development of the office properties, launching our new project in Zagreb in Q1, followed by a launch of an office building development in Budapest in Q2. With a strong cash position, we are open to investment opportunities and actively screening the markets to boost our growth.” commented Zoltán Fekete, GTC’s President of the Management Board.

“The Q1 2022 results on the revenue side are showing a great improvement, while new acquisitions are covering for the lost revenues due to the disposal of Serbian portfolio, our retail sector came up with a strong increase, on both revenue side but what is more important on the performance side with turnovers being 12% above 2019 results. Our balance sheet and cash position are very strong. Net debt stays virtually unchanged, LTV at 43% and cost of debt still at an all-time low of 2.16%. We are very satisfied with our results and looking forward to the remainder of the year.” – commented Ariel Ferstman, GTC’s CFO and Member of the Management Board.

Globe Trade Centre S.A.

KOR 45A, 02-146 Warsaw NIP: 527-00-25-113 T: +48 22 16 60 700 www.gtc.com.pl

GTC countries Bulgaria Croatia Hungary Poland Romania Serbia

Download GTC Logo

© 2022 Globe Trade Centre made by Esencja Studio