Q1 2018 HIGHLIGHTS:
- Gross margin from rental activity up by 26% to €54m (€43m in H1 2017)
- Profit after tax at €46m (€60m in H1 2017), earnings per share at €0.10
- Profit after tax without revaluation increased 49% to €25m (€17m in H1 2017)
- FFO I increased 35% to €29m (€21m in H1 2017), FFO I / share up to €0.06
- In-place rent up 14% to €125m
- EPRA NAV increased 4% to €1,120m (€1,073m as of 31 December 2017); EPRA NAV / share up to €2.32
- Average interest rate down to 2.6% p.a. from 2.8% p.a. as of 31 December 2017
- Interest cover at 4.0x
- Net LTV at 45%
PORTFOLIO UPDATE:
- Completion of the two buildings in Green Heart project (formerly GTC Square)
- Refurbishment of the two buildings in Green Heart project (formerly GTC Square)
- Completion of White House
- Acquisition of Mall of Sofia and Sofia Tower
- 4 projects under construction with 85,000 sq. m GLA
to be completed in 2019 - 3 projects with 90,000 sq. m to be commenced still
in 2018 - Strong asset management
- Occupancy at 93% (93% in Q1 2018)
- 85,000 sq. m of office and retail space newly leased and renewed in H1 2018
