Property investor Globalworth has reported a net loss of €16.1 million in 2022 compared to a profit of €47.5 million in 2021, while the value of its commercial portfolio remained effectively unchanged at €3.2 billion.
The company said last year’s net result was due to revaluation losses of €89.5 million in 2022 compared to the €5.7 million revaluation losses in 2021. Meanwhile, its year-on-year net operating income was down 3.2% to €139.7 million in 2022.
Last year, the company delivered six new logistics facilities in Romania offering 104,400 sqm, with three logistics facilities under development which are expected to have a total leasable area of 30,000 sqm. In Poland, Globalworth kicked off the refurbishment and repositioning of two mixed-use projects.
The overall standing portfolio footprint rose by 103,000 sqm to 1.4 million sqm in 71 standing properties. Globalworth’s leasing transactions amounted to 206,000 sqm with an average WALL of 4.4 years. Its portfolio includes 53 green-certified properties with a combined value of €2.6 billion.
The total annualized contracted rent up was up by 3.0% to €189.2 million in 2022 versus 2021.
On the financing side, Globalworth said it had a high liquidity of €163.8 million plus available liquidity from committed undrawn facilities of €300 million. The company will pay a cash dividend to shareholders of €0.27 per share.
