Profits from revaluation of investment properties at fair value in the first half of 2022 amounted to 11.7 million euros, compared to 15.9 million euros in the corresponding period of 2021, reflecting, despite the difficult conditions due to the war, the energy crisis and the rise of inflation, the continuous active management of the Company's properties and the upward trend for quality, bioclimatic and environmentally sustainable commercial properties in Greece.
In the first half of 2022, Noval Property reported rental income of €12.2 million, compared to €7.6 million of rental income and government compensation due to the Covid-19 pandemic in the first half of 2021, showing an increase of 4, 6 million euros (61%). The increase in question reflects the Company's commitment to the active management of its properties by entering into new lease agreements, alongside the non-repetition in the first half of 2022 of the mandatory rent reductions due to the government measures to support affected businesses in the first half of 2021.
Adjusted EBITDA for the period up to 30.06.2022 amounted to 5.5 million euros, compared to 2.7 million euros in the corresponding period of 2021, showing an increase of 2 .8 million euros (104%).
The cash available on 30.06.2022 amounted to 119.5 million euros, compared to 129.1 million euros on 31.12.2021.
The internal book value on 30.06.2022 was 354.4 million euros or 1.32 euros per share, while on 31.12.2021 it was 314.9 million euros or 1.27 euros per share, marking an increase of 39.5 million. euros, i.e. an increase of 13%.
The significant increase in total assets, the fair value of investment properties and holdings and the internal book value of Noval Property reflects on the one hand the dynamic market trend for quality, bioclimatic and environmentally sustainable commercial properties and, on the other hand, comes as a consequence of the strengthening of of the Company's investment portfolio with new properties and participations, in the context of the increase of its share capital, which was completed on 27.06.2022.
