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In Brief – GTC Annual Results

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2016 HIGHLIGHTS

* Total investment of €255m (including €162m of acquisitions)

* Revaluation gain of €85m (€26m in 2015) driven by projects under construction includes also modest 3% revaluation gain on income generating properties on improved performance

* EPRA NAV increased to €897m (€779m as of 31 December 2015)

* EPRA NAV / share increased 20% to PLN 8.62 from PLN 7.21 as of 31 December 2015

* Gross margin from rental activity increased by 10% to €86m (€79m in 2015)

* 13% FFO I improvement to €43m (€38m in 2015)

* FFO I / share at PLN 0.39 (PLN 0.381 in 2015) and FFO I yield of 5%

* Profit after tax at €160m (€44m in 2015)

* Earnings per share up by 183% to €0.34 (€0.12 in 2015)


PORTFOLIO UPDATE

* Acquisition of income generating assets of €140m and land for development of €22m (total acquisitions in 2015 of €53m)

* Investment in assets under construction of €93m (€34m in 2015)

* 23% growth in total property value to €1,624m (€1,324m as of 31 December 2015)

* 20% growth in income generating portfolio to €1,261m (€1,052m as of 31 December 2015)

* 139,000 sq. m NLA under construction in five projects with over 83,000 sq. m to be completed in 2017

* 181,000 sq. m NLA in planning stage

* 144,000 sq. m of new lettings and lease renewals for office and retail space in 2016

* Occupancy rate at 94%

Read more about the GTC Financial Results here