ARTICLES LABELLED WITH TAG financial report

In 2024, the Echo Investment Group took further steps to diversify its portfolio and strengthen its growth strategy. By the end of the year, the Group maintained a cash reserve of PLN 366 million (ca €87 million), while the total value of its assets exceeded PLN 6.77 billion (ca. €1.6 billion). 

MLP Group delivered good financial and operational results in 2024, driven by strong warehouse space leasing performance across all its markets. The company reported revenue of PLN 372.4 million (+3% YoY), or €86.5 million (+9% YoY).

P3 Group S.à r.l recorded a 17% increase in NOI to €493 million (2023: €423 million), attributed to portfolio expansion and increasing rent levels. On a like-for-like basis, NOI rose by 5%, driven by lease indexation and strong re-leasing spreads, with new effective rents averaging 21% higher when compared to prior leases on the same space. An enhanced EBITDA margin of 85% was achieved.

In the first half of 2024, Echo Investment Group successfully implemented its growth strategy, continuing construction projects, selling nearly 900 apartments, and debuting in the private student housing segment. The Group's total assets at the end of June exceeded PLN 6.5 billion (ca. €1.5 billion) with cash reserves surpassing PLN 523 million (ca. €121 million).

GTC Group has announced a consolidated net profit of €21.2 million for the second quarter of 2024, marking a significant turnaround from the €23.2 million loss reported during the same period last year. The company’s net profit from operations reached €33.5 million -  a also a significant improvement compared to the €20.9 million loss recorded y-to-y.

Immofinanz Group generated sound growth in rental income and earnings in the first quarter of 2024. Rental income rose by 11.5% year-on-year to €143.2 million. After an adjustment for new acquisitions, completions and sales, the like-for-like rental income recorded by Immofinanz (excluding S Immo) rose by 6.4%. The results of asset management increased by 14.3% over the previous year to €120.0 million and the results of operations improved by a strong 26.4% to €104.3 million. FFO 1 after tax was 23.5% higher at €69.7 million (Q1 2023: €56.4 million).

CA Immo has reported a stable operating development for Q1 2024. The results show, among other things, a slight increase in rental income (+4%) due to the completion of project developments in previous years and higher rental income from investment properties. Despite this increase in rental income, both the operating result (EBITDA) and the consolidated net income were down on the previous year's figures, mainly due to the exceptionally high sales result in Q1 2023.

The company recorded a 19% increase in NOI to €423 million (2022: €357 million), attributed to portfolio expansion and increasing rent levels. On a like-for-like basis, NOI rose by 6%, driven by lease indexation and strong re-leasing spreads, with new effective rents averaging 23% higher when compared to prior leases on the same space. An enhanced EBITDA margin of 83% was achieved, reflecting the company’s strategic focus on growth, efficient re-leasing, and operational efficiency.

CPI Property Group has published its audited financial results for the financial year ended 31 December 2023, confirming a stable market environment with high occupancy figures. On the other side, the figures have shown a considerable net loss of €877 million, driven predominantly by a non-cash negative revaluation result. Property Forum asked CPIPG spokesman Jakub Velen to comment on the figures and provide an outlook for the year ahead.

Immofinanz Group generated strong growth in rental income during the 2023 financial year. This development was based primarily on the full consolidation of S Immo, the purchase of retail properties, and solid growth in like-for-like rental income. However, due to revaluation effects, the company recorded a decline in net profit to €-229.5 million in 2023.