Blé Kedros REIC reports significant increase in turnover in the 1h2022
The Group's cash and cash equivalents on 30.06.2022 amounted to €18.116 million.
A significant increase in turnover (rental income) was recorded by Blé Kedros REIC during the 1st half of 2022 with the figure reaching to € 3.059 million versus € 1.501 million in the same period in 2021.
As stated in terms of operating profits (EBITDA), the group achieved an increase to €10,442 million compared to €1,872 million in the same period last year, while pre-tax profits amounted to €10,395 million compared to €1,821 million on an annual basis.
At the same time, the REIC achieved during the period under review a reduction of loan obligations to the value of the portfolio (LTV) from 5.04% on 30.06.2021 to 2.27% on 30.06.2022. The Fair value of the Group's real estate investments on 30.06.2022 €107.277 million compared to €100.296 million on 31.12.2021.
The Group's cash and cash equivalents on 30.06.2022 amounted to €18.116 million compared to €2.521 million on 31.12.2021.
The company also achieved a significant reduction in loan liabilities from €2.824 million on 31.12.2021 to €2.36 million on 30.06.2022. Finally, as it states in its announcement, it is continuing the implementation of its investment plan on schedule.