GTC’s adjusted EBITDA was €24 million in Q1 2023 (€26 million in Q1 2022), while net profit amounted to €12 million in Q1 2023 (€15 million in Q1 2022). The decrease mainly resulted from lower gross margin from operations and loss from revaluation, partially offset by lower finance costs and foreign exchange gain.
Q1 2023 financial highlights
Q1 2023 portfolio highlights
“We are observing the markets closely and constantly looking for opportunities to grow our business adjusting it to changing environment and market trends. We recommended to the Shareholders Meeting to keep the profits in the Company to fund future investments and capital expenditures to prepare our properties for increasing tenants’ demand, especially in the field of sustainability. In parallel, we are also seeking authorization of the shares buyback as an alternative way to return capital investment to shareholders. With such flexibility granted, the Company will be able to react to dynamically changing market conditions and manage its future financial position,” commented Zoltán Fekete, GTC’s President of the Management Board.
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