ARTICLES LABELLED WITH TAG profit

News Immofinanz reports negative net profit for 2023
28
Mar
2024

Immofinanz reports negative net profit for 2023

by Property Forum
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.
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News Leading lender expects significantly higher result for 2024
07
Mar
2024

Leading lender expects significantly higher result for 2024

by Property Forum
Deutsche Pfandbriefbank AG (pbb), a leading European specialist bank for commercial real estate finance, expects its results for the current financial year to be significantly higher than in 2023. 
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News Immofinanz’s net profit reaches €163 million in H1 2022
25
Aug
2022

Immofinanz’s net profit reaches €163 million in H1 2022

by Property Forum
In H1 2022, Immofinanz's rental income reached a high level of €144.2 million, the results of asset management improved by 3.0% to €110.0 million, and sustainable FFO 1 from the standing investment business rose by 6.1% to €78.7 million. Net profit equalled €162.7 million, whereby the first half of the previous year was influenced, above all, by a substantial revaluation of the investment in S Immo. With an equity ratio of 57.3% and conservative debt with a net LTV of 32.5%, Immofinanz has a strong capital base.
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News GTC records 95% growth in net profit year-on-year
24
Aug
2022

GTC records 95% growth in net profit year-on-year

by Property Forum
In H1 2022, GTC’s net profit amounted to €41 million in H1 2022 (compared to €21 million in H1 2021). This mainly resulted from a strong operating performance combined with profit from revaluation/impairment of assets and lower finance cost, partially offset by an increase in foreign exchange differences loss.
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Latest news


New leases

  • White Star Real Estate has extended lease agreements with three long-standing tenants (Castolin, ACL Poland and Rodastal) of the logistics and production complex Diamond Business Park Gliwice. The three agreements, covering both warehouse and office and social spaces, cover a total area of 12,500 sqm.
  • GE Vernova, an American technology provider for the energy sector, has joined the tenants of Katowice's CitySpace Face2Face complex.
  • ID Logistics has extended its lease of 23,000 sqm of space at GLP Warsaw I Logistics Centre. The cooperation between the companies has been ongoing since 2018.

New appointments

  • Trei Real Estate Poland expands its management board - Jacek Wesołowski and Paweł Gołuchowski are joined by Mariusz Cegielski and Dariusz Węglicki. The company announces "dynamic growth in the residential and retail segments".
  • At the beginning of the year, Roberto Mateos, an experienced hotelier who has been with the Barceló Hotel Group for almost two decades, took over as general manager of the Barceló Warsaw Powiśle hotel.
  • Axi Immo is strengthening its organisational structure by appointing Danuta Dzierżak as Business Development Director. In her new role, she will be responsible for developing all business lines, acquiring new clients, and building relationships with key business partners in Poland and abroad.

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