Prodea Investments announced that the group’s turnover amounted to € 36.5 million compared to € 31.3 million in the first quarter of 2021.
Earnings before interest, taxes, depreciation and amortization, revaluation of real estate and other non-recurring assets (adjusted EBITDA) amounted to € 26.1 million in the first quarter of 2022 compared to € 24.5 million in the corresponding period of 2021.
Regarding the recent geopolitical developments, the Management closely monitors and evaluates the situation in order to take the necessary measures and to update its business plans (if required) in order to ensure business continuity and limit any negative effects (more information is provided). in the Interim Condensed Consolidated and Corporate Financial Information for the period 01.01.2022 –
31.03.2022).
The Group’s Internal Value (NAV) on March 31, 2022 amounted to € 1,414.0 million or € 5.53 per share compared to € 1,396.3 million and € 5.47 per share respectively on December 31, 2021.
The CEO of the Company, Mr. Aristotelis Karytinos stated: “The increase of 16.6% of the turnover of PRODEA Investments, as a result of the maturation of the development projects, the new investments in income real estate and the new leases, is a first sample of the results of the investment strategy implemented by our company with the aim of optimizing both the composition of the investment portfolio and the quality characteristics of the properties with the principles of sustainability as the main pillar of development “.
Source: Capital
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