BriQ Properties announced profits of 1,046 million euros compared to 341 thousand euros in the same period last year, an increase of 207%.
This increase is mainly due to the fact that the revenues of the first quarter of 2021 were reduced by 633 thousand euros due to the mandatory measures for Covid-19 and in addition to the start of the lease of a newly built warehouse in Aspropyrgos.
The value of the real estate portfolio on 31.03.2022 is distributed per category of real estate as follows: 49% in logistics buildings, 29% in office buildings, 17% in hotels and 5% in other categories of real estate.
Increase in sizes
The company recorded at a consolidated level an increase in its size in the first quarter of the year compared to the corresponding period last year, in particular:
As of March 31, 2022, the Group’s investments included 27 investment properties with a total value of 122,147 thousand euros compared to 27 properties worth 120,768 thousand euros on 31.12.2021.
Rental income amounted to 1,930 thousand euros compared to 1,093 thousand euros in the corresponding period last year, recording an increase of 76.5%.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased significantly (111.5%) and amounted to 1,453 thousand euros compared to 687 thousand euros in the corresponding period last year.
Adjusted earnings before tax (EBT) increased by 135.1% and amounted to 1,257 thousand euros compared to 535 thousand euros in the corresponding period last year.
Adjusted net profit after taxes increased by 141.4% and amounted to 1,224 thousand euros compared to 507 thousand euros in the corresponding period last year.
Cash on March 31, 2022 amounted to 7,242 thousand euros compared to 4,277 thousand euros on December 31, 2021.
The Ordinary General Meeting of April 19, 2022 decided to distribute a dividend totaling 2,657 thousand euros, ie 0.075 euros per share (net), from the profits of the year 2021 and previous years, which was paid to the beneficiaries on April 29, 2022.
As of March 31, 2022, the Group’s loan liabilities amounted to 33,677 thousand euros compared to 30,153 thousand euros on December 31, 2021.
Estimate for 2022
For the whole of 2022 it is estimated that the results will show a significant increase compared to the previous two years (2021 and 2020) where revenues were affected by
mandatory measures to reduce rents due to the Covid-19 pandemic, as well as from the revenues from the new developments of the logistics centers of the Company, the first stage of which was completed in January 2022.
Reservations
Along with the positive outlook, there are reservations due to the impact on the economy of rising energy and raw material prices, inflation and uncertainty due to the war in Ukraine.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Athens Int’l Airport Wins Top Prize at Routes Europe Awards
The Routes business is focused entirely on aviation route development and the company's portfolio includes events, media and online businesses
IOBE: Income Gap Between Poor and Wealthy Greeks Widens
The findings in the analysis, entitled “Progressivity in Income Taxation in Greece, 2012-2021", paint a bleak picture for Greeks in the bottom half of the income bracket, warning that income inequality is growing
Study Finds 4 in 10 Greeks to Slash Easter Spending
This year, hit by persistent inflation, many Greeks will be dishing out less on food, drink and gifts for Orthodox Easter on May 5
ELSTAT: Overnight Stays in Greece Up in Feb.
The provisional monthly data revealed that arrivals at tourist accommodations amounted to 773,104 and overnight stays were 1,677,685
Electric Energy: Greece’s New Sustainable Export
Moreover, a surplus of generated electricity cannot be fully absorbed by domestic grids and this excess power finds eager buyers in the form of companies entering into Power Purchase Agreements (PPAs), willing to pay a premium for clean energy
IOBE Revises Greek GDP Growth Downward, to 2.1% For 2024
Annual inflation is expected to reach 3%, up from the previous forecast of 2.8%
Last Sections of 136km E65 Highway Inaugurated on Tues.
Athens to Karditsa drive time is expected to drop to two and a half hours (under normal conditions), and some three hours from Athens to Trikala
Reuters: Greece to Repay More Bailout Loans Ahead of Maturity in 2023
The country has relied solely on international markets for its borrowing needs since a third institutional bailout ended in 2018
Ag Min. Avgenakis: Greece-China Cooperation in Research, Education in Agri-Food Sector
Greek minister tours cutting-edge hydroponics and robotics facilities at the Chinese Academy of Agricultural Sciences in Beijing
Mini Holiday Season in Greece for Upcoming Orthodox Easter
Occupancy rates reach up to 90% domestically for accommodations open ahead of peak summer season
