BriQ Properties Real Estate Investment : 22/11/2021 – 22.11.2021 – Press Release of Financial Results for the nine month period ended 30.09.2020

November 22nd, 2021

Press release

Significant increase in sales in the nine-month period to September 30, 2021

BriQ Properties REIC (the “Company” and the “Group”) announces that the Group’s rental income for the nine-month period ended September 30, 2021 was € 4.4 million compared to € 2, according to the consolidated financial statements. 8 million for the respective period of the previous year, which corresponds to an increase of 59%, mainly driven by the inclusion of sales from new investments in logistics. This increase was despite the decline in sales by 0.9 million.

The significant shift of the company’s portfolio to the logistics sector is evidenced by the fact that the value of the portfolio as of 09/30/2021 to 09/30/2021 was divided between 48% logistics, 30% offices, 17% hotels and 5% other uses. In 2020, the distribution was 43% offices, 27% hotels, 14% logistics and 16% other uses.

The group achieved an increase in its financial performance indicators compared to the respective prior-year period, in particular:

  • On the 30th of SeptemberNS, 2021, the Group’s portfolio consisted of properties with a total value of € 116.7 million compared to properties with a total value of € 106 million on December 31, 2010 and properties with a total value of € 72.5 million on September 30, 2020 .
  • In the first nine months of 2021, the company made new investments of € 9.6 million, of which € 5.8 million in the logistics area and € 3.2 million in the office area.
  • Adjusted(1) (2) EBITDA (earnings before interest, taxes, depreciation & amortization) rose by 71% to € 3.2 million compared to € 1.8 million in the same period of the previous year.
  • Adjusted(1) (2) The EBT (earnings before taxes) rose by 76% to € 2.6 million compared to € 1.5 million in the same period of the previous year.
  • Adjusted(1) The annual surplus after taxes rose by 78% to € 2.5 million compared to € 1.4 million in the same period of the previous year.
  • The net profit from the revaluation of investments amounted to € 2.1 million compared to € 0.5 million in the same period of the previous year.
  • The company’s net asset value (NAV) was € 2.42 per share, an increase of 2.1% compared to € 2.37 in the same period last year.
  1. I. Without revaluations of the fair value of investment property through profit or loss, ii. Includes property tax (ENFIA) adjustments as the results for the first nine months of 2021 include 100% of the annual ENFIA provision.

25 Al. Pantou Str. • GR 176 71 Kallithea • Tel .: +30 211 999 1699 • Email:[email protected]

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Cash and cash equivalents amounted to € 4.3 million as of September 30, 2021, compared to € 2.1 million as of December 31, 2020.

As of September 30, 2021, the Group’s loan obligations amounted to € 29.1 million compared to € 18.3 million as of December 31, 2020.

On September 30, 2021, the company held a total of 358,618 treasury shares valued at € 0.8 million with an acquisition value of € 0.6 million (€ 1.74 per share). The own shares held correspond to 1.00% of the company’s share capital.

The most important financial data and key figures are contained in the following tables:

P&L (amounts in € thousand)

01.01-

01.01-

%

09/30/2021

09/30/2020

Rental income

4,400

2,765

59%

EBITDA (earnings before interest, taxes, depreciation &

5,083

2,239

127%

Depreciation)

Adjust. EBITDA (excluding revaluation gain and one-off

3.152

1,842

71%

Costs) (1)

EBT (earnings before taxes)

4,533

1,872

142%

Adjusted EBT (earnings before taxes) (1)

2,602

1,475

76%

Net profit after tax

4,438

1,805

146%

Adjusted net profit after tax (1)

2,506

1,408

78%

Key figures

09/30/2021

December 31, 2020

Loan-to-Value (debt / real estate)

25.0%

17.2%

Net Loan-to-Value ((Debt-Cash) / Properties)

21.3%

15.3%

Total capital according to the company’s shareholders (NAV)

85,582

84.016

Net asset value per unit (Ν.Α.V. / unit)

€ 2.42

€ 2.37

  1. I. Without revaluations of the fair value of investment property through profit or loss, ii. Includes property tax (ENFIA) adjustments as the results for the first nine months of 2021 include 100% of the annual ENFIA provision.

The condensed consolidated interim financial statements for the first nine months of 2021 will be available on the Athens Stock Exchange website (www.helex.gr) and on the company’s corporate website (www.briqproperties.gr) on Monday, November 22ndnd, 2021.

25 Al. Pantou Str. • GR 176 71 Kallithea • Tel .: +30 211 999 1699 • Email:[email protected]

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Disclaimer of liability

BriQ properties REIC published this content on November 22, 2021 and is solely responsible for the information contained therein. Distributed by public, unedited and unchanged, on November 22, 2021 9:33:05 AM UTC.


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