Greek real estate: Premia Properties’ revenue up by 61%

PREMIA Properties announced for the 9 months of 2022, a 61% increase in revenue, a doubling of operating profitability (Adjusted EBITDA) and a tripling of profitability after taxes, on a consolidated basis, compared to the corresponding period of 2021.

The company also announced for the January – September period the addition of four (4) new properties, three student residences in Athens, Thessaloniki and Patras as well as the facilities of Doukas Schools, with the Group’s portfolio now including thirty-one (31) properties and the total value of investments to be €229.0 million. The Company, after September 2022, further strengthened its portfolio by completing milestone transactions such as the acquisition of the properties of BOUTARIS and the ATHENS HEART mall.

High total cash available of € 75.8 million and a healthy financial structure with the Group’s Equity standing at € 134.6 million and net borrowing at € 95.1 million. The strong creditworthiness of the Company was confirmed by ICAP CRIF S.A. which in October 2022, as part of the annual review, maintained the rating on the A scale.