Earnings before interest, tax, depreciation, and amortization (EBITDA) more than doubled to €12.2million compared to €5.3million for the first semester of 2020. Similar level of increase was achieved for earnings before interest, tax, depreciation, amortization, fair value adjustment and sale of investment properties (adjusted EBITDA), reaching €4.1million compared to €1.7million for the corresponding period of 2020.
As of June 30th, 2021, the Group’s portfolio comprised of 59 prime investment properties strategically located across Greece, with total leasable area of 219.1 thous. sqm. and fair value of €312.9million, compared to €301.6million on December 31st, 2020.
During the first semester of 2021, the Group acquired a newly built logistics center located in the area of Aspropyrgos, Attica for €6.9million. The Group continued the implementation of its divestment plan from non-core assets by completing the sale of 7 such assets, (6 gas stations and one retail shop), for a total consideration of €4.4million, with the purpose of optimizing its investment portfolio and securing significant returns for its shareholders.
Cash as of June 30th, 2021, amounted to €23.0m compared to €17.5m on December 31st , 2020. During the first semester of 2021, the Group recorded gains from adjustment of investment properties to fair values of €8.0million compared to €3.2million during the same period last year.
Group’s NAV (Net Asset Value) as of June 30th, 2021, amounted to €166.6million or €1.106 per share.
