BriQ Properties R.E.I.C. announced that according to the consolidated financial statements for the nine-month period ended 30.09.2021, the rental income of the Group amounted to €4,4million compared to €2,8million for the respective last year period, recording an increase of 59%, mainly driven by the incorporation of revenue from new investments in logistics.
This increase was achieved despite the decrease in revenues by €0,9million due to the measures imposed due to COVID-19, while the corresponding decrease in the first nine months of 2020 was significantly lower (€0.5million).
The significant shift of the Company's portfolio in the logistics sector is proved by the fact that the value of the portfolio on 30.09.2021 was distributed by 48% in logistics, 30% offices, 17% hotels and 5% other uses while on 30.09.2020 the distribution was 43% offices, 27% hotels, 14% logistics and 16% other uses.
The Group achieved an increase in its financial performance metrics compared to the respective last year period, in particular:
On September 30st, 2021, Group's portfolio consisted of properties with total value of €116,7 million compared to properties with total value of €106 million on 31.12.2010 and properties with total value of €72,5 million on 30.09.2020.
During the first nine months of 2021, the Company proceeded to new investments totaling €9,6 million,of which €5,8million related to logistics sector and €3,2million in the office sector.
Adjusted EBITDA (Earnings before interest, taxes, depreciation & amortization) increased by 71% to €3,2million compared to €1,8million for the respective last year period.
Adjusted EBT (Earnings before taxes) increased by 76% to €2,6million compared to €1,5million for the respective last year period.
Adjusted Net Earnings after taxes increased by 78% to €2,5million compared to €1,4million for the respective last year period.
The net profit from the revaluation of investments amounted to €2,1million compared to €0,5million for the respective last year period.
Company's Net Asset Value (NAV) amounted to €2.42 per share increased by 2,1% compared to €2.37 for the respective last year period.
