BriQ Properties Real Estate Investment : PRESS RELEASE FINANCIAL RESULTS H1 2021
September 27thNS, 2021
Press release
Sales increase by 46% for the first half of 2021
BriQ Properties REIC (the “Company” and the “Group”) announces that the rental income of the group according to the consolidated financial statements for the first half of 2021 amounted to T € 2,574 compared to T € 1,766 in the respective period of the previous year, an increase of 46%. This increase was achieved despite the decline in sales of € 951 thousand in the first half of 2021 due to the measures taken due to COVID-19, while the corresponding decrease in the first half of 2020 was significantly lower (€ 374 thousand). The 46% increase in sales was mainly driven by the inclusion of sales from new investments in logistics in the previous twelve-month period.
The significant shift in the company’s portfolio in the logistics sector is reflected in the fact that the value of the portfolio on June 30th, 2021 was divided into 47% logistics, 30% offices, 17% hotels and 6% other uses as of June 30th, 2020. In 2020, the distribution was 44% offices, 27% hotels, 14% logistics and 15% other uses.
The group achieved an increase in its financial performance indicators compared to the respective period of the previous year, in particular:
- June 30thNS, 2021, the Group’s portfolio consisted of 28 properties with a total value of € 114,244 thousand compared to properties with a total value of € 106,001 thousand as of December 31, 2010 and properties with a total value of € 71,665 as of June 30, 2020.
- In the first half of 2021, the company made new investments of € 6,151 thousand, of which € 2,146 thousand in connection with the purchase of an office building in Piraeus, € 1,054 thousand in connection with the acquisition of land in the Aspropyrgos area and € 2,950 A thousand related to the construction of a warehouse and distribution in Aspropyrgos, Attica.
- Adjusted(1) (2) EBITDA (earnings before interest, taxes, depreciation & amortization) rose by 44.3% to € 1,661,000 compared to € 1,152,000 in the same period of the previous year.
- Adjusted(1) (2) The EBT (earnings before taxes) rose by 62% to € 1,310 thousand compared to € 809 thousand in the same period of the previous year.
- Adjusted(1) The annual surplus after taxes increased by 64.2% to 1,253 T € compared to 763 T € in the same period of the previous year.
Cash and cash equivalents amounted to € 3,358 thousand as of June 30, 2021, compared to € 2,067 thousand on December 31, 2020.
As of June 30, 2021, the Group’s loan obligations amounted to € 26,232 thousand compared to € 18,313 thousand as of December 31, 2020.
25 Al. Pantou Str. • GR 176 71 Kallithea • Tel .: +30 211 999 1699 • Email:[email protected]
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On June 30, 2021, the company held a total of 358,618 treasury shares valued at € 753 thousand with an acquisition value of € 624 thousand. The treasury 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- |
% |
||||||||
|
06/30/2021 |
06/30/2020 |
||||||||||
|
Rental income |
2,574 |
1,766 |
45.7% |
||||||||
|
EBITDA (earnings before interest, taxes, depreciation & |
3,421 |
1,462 |
134.0% |
||||||||
|
Depreciation) |
|||||||||||
|
Adjust. EBITDA (excluding revaluation gain and one-off |
1,661 |
1,152 |
44.2% |
||||||||
|
Costs) (1) (2) |
|||||||||||
|
EBT (earnings before taxes) |
3,070 |
1,119 |
174% |
||||||||
|
Adjusted EBT (earnings before taxes) (1) |
1.310 |
809 |
62.0% |
||||||||
|
Net profit after tax |
3,013 |
1,073 |
181% |
||||||||
|
Adjusted net profit after tax (1) |
1,253 |
763 |
64.3% |
- Without profit form fair value revaluations on investment properties
- Includes adjustments to property tax (ENFIA), as the results of the first semester include 100% of the annual ENFIA provision.
|
Key figures |
06/30/2021 |
December 31, 2020 |
|
Loan-to-Value (debt / real estate) |
23.0% |
17.2% |
|
Net Loan-to-Value ((Debt-Cash) / Properties) |
20.0% |
15.3% |
|
Total capital according to the company’s shareholders (NAV) |
84,282 |
84.016 |
|
Net asset value per unit (Ν.Α.V. / unit) |
€ 2.38 |
€ 2.37 |
The company’s management will present the financial results for the semester ending June 30, 2021 on Monday, September 24, 2021 at 2:00 p.m. Greek time via a conference call.
- Telephone number Greece: + 30 213 009 6000
- United Kingdom: + 44 203 059 5872
- Telephone number USΑ: +1 516 447 5632
For more information, please contact Mr. Andrikakis Emmanuel, Investor Relations Manager, (+30) 211 999 1631, or Chorus Call Hellas SA, Teleconferencing Service, (+30) 210 94 27 300.
The condensed interim consolidated financial statements for the first half of the year ended June 30, 2021 will be published on the Athens Stock Exchange website (www.helex.gr) and on the company’s corporate website (www.briqproperties.gr) on Monday, September 27thNS, 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 September 27, 2021 and is solely responsible for the information contained therein. Distributed by public, unedited and unchanged, on September 27, 2021 6:41:02 AM UTC.
Publicnow 2021
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Technical Analysis Trends BRIQ PROPERTIES REAL ESTATE INVESTMENT COMPANY
| In the short term | Halftime | Long term | |
| Trends | Neutral | Bullish | Bullish |
Development of the income statement