Q1 2024 FINANCIAL HIGHLIGHTS
- Revenues from rental activityup 7% to €46m in Q1 2024 (€43m in Q1 2023); Like-for-like rental revenue growth of 7%
- Gross margin from rental activityup 9% to €32m in Q1 2024 (€30m in Q1 2023)
- FFO Iat €19m in Q1 2024 (€16m in Q1 2023), FFO per share at €0.03
- EPRA NTAat €1,247m as of 31 March 2024 (€1,232m as of 31 December 2023), EPRA NTA per share at €2.17 (PLN 9.34) Net LTV at 48.1%[1] (49.3%¹ as of 31 December 2023);
- Net LTVadjusted for cash on escrow accounts at 47.0%
- Cash of €122m; cash on the escrow accounts of €27m.
Q1 2024 PORTFOLIO HIGHLIGHTS
- Occupancyat 86% as of 31 March 2024 (87% as of 31 December 2023)
- Leasingactivity reached 19,000 sq m in Q1 2024 (24,300 sq m in Q1 2023)
- Average weighted lease term at 3.4 yrs.
- 87% of real estate portfolio is recurring income-producing
- 65% of recurring income-producing portfolio is office
- 92% of assets green certified
