Intercontinental International A.E.A.P. announced that in relation to the corresponding half of the previous year, and following International Accounting Standards, it presented an increase in Funds from Operating Activities (FFO) by 10.82%, a result mainly due to the purchase of two properties in 2021 and secondary to the completion of the merger of the two subsidiaries as well as the significant adjustment of rents due to inflation. The value of the company’s real estate portfolio now stands at €111.2, aiming for a further significant increase in the portfolio by the end of 2023.
According to the relevant announcement, on 30.06.2022 the company owned a total of 34 properties – mainly shops and offices – with an area of 52,936 sq m.
The course of the main financial figures during this year’s first half, in relation to the corresponding half of the previous year, is as follows:
1. Booked rental income amounted to €4.37 million against €3.69 million, an increase of 18.53%, including contractually agreed annual adjustments.
2. Losses from real estate fair value adjustments amounted to €0.49 million compared to €0.13 million, the corresponding period last year including additions and improvements amounting to €0.28 million within the first half of 2022.
3. Operating profits amounted to €2.58 million compared to €2.64 million in the corresponding period last year.
4. By extension, profits before taxes amounted to €2.10 million compared to €2.11 million in the corresponding period last year.
5. Net profits after taxes amounted to €2.04 million compared to €2.06 million in the same period last year.
6. The tax on investments and reserves amounted to €58 thousand compared to €48 thousand due to the purchase of two properties with a total value of €20.73 million. in 2021
Key Indicators
0 Loan to Investment (LTV): 35.18 % (H1 2021: 39.30%)
0 Adjusted EBITDA: €3,128,865 (H1 2021: €2,819,013)
0 Funds from operating activities (FFO): €3,070,600 (H1 2021: €2,770,714)
0 General Liquidity: 1.26 (H1 2021: 1.18).
– Internal Book value of the share (NAV ps): €7.34 (H1 2021: €7.20)
– Earnings per share (EPS): €0.19 (H1 2021: €0.20)
Source: Capital
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