BriQ Properties AEEAP (the “Group”) informs that according to the consolidated financial statements for the year from 1/1 to 31/12/2021, rental income amounted to € 6,064 thousand compared to € 3,681 thousand last year , marking a significant increase of 65%.
This increase is due to the integration of revenues from new investments, mainly in the logistics sector. The Group’s rental income for the year 2021 includes a reduction of € 877 thousand due to the measures for Covid-19 against a corresponding reduction of € 954 thousand in the year 2020.
The value of the real estate portfolio on 31.12.2021 is distributed by category of real estate as follows: 49% in logistics buildings, 29% in office buildings, 17% in hotels and 5% in other categories of real estate.
During the year 2021, the Group recorded an increase of all its financial figures:
• As at 31 December 2021, the Group’s properties included 27 properties with a total value of € 122,017 thousand, compared to 28 properties worth € 106,186 thousand on 31.12.2020 (15% increase in value).
• The Group proceeded with new investments totaling € 12,328 thousand which included € 7,381 thousand investments in the logistics sector, € 3,234 thousand in the office sector and € 1,455 thousand in the hotel sector.
• The profits of the Group from the revaluation of its real estate to a fair value amounted to € 4,431 thousand, compared to € 416 thousand in the fiscal year 2020. From € 4,431 thousand, an amount of € 2,611 thousand concerns the logistics sector.
• The custom ones(1) (2) Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 87% and amounted to € 4,209 thousand, compared to € 2,249 thousand in 2020.
• The custom ones(1) Earnings before taxes (EBT) increased by 129% to € 3,993 thousand, compared to € 1,742 thousand in 2020.
• The custom ones(1) Net profit after taxes amounted to € 3,865 thousand, compared to € 1,654 thousand in 2020, showing an increase of 134%.
• The total equity corresponding to shareholders of the company (NAV) on December 31, 2021 amounted to € 89,259 thousand, which corresponds to € 2.52 per share, compared to € 2.37 per share on 31.12 .2020 showing an increase of 6.3%.
Cash on December 31, 2021 amounted to € 4,277 thousand compared to € 2,067 thousand on December 31, 2020.
As of December 31, 2021, the Group’s loan liabilities amounted to € 30,153 thousand compared to € 18,313 thousand as of December 31, 2020.
The Group’s Net Debt as at December 31, 2021 amounted to € 25,876 thousand and Net LTV (Loan Liabilities minus cash to Real Estate Investments) at 21.4% against € 16,246 thousand and 15.3% respectively on December 31, 2020 .
The Company on 31.12.2021 owned a total of 343,618 treasury shares with a total nominal value of € 722 thousand and an acquisition value of € 598 thousand. The treasury shares currently held by the Company correspond to approximately 1.0% of its share capital.
The key financial figures and key indicators, on a consolidated basis, are presented in the following tables:
(amounts in € thousand)
Following the approval of the Financial Results, the Board of Directors of the Company decided to propose to the Ordinary General Meeting of Shareholders, which will meet on April 19, 2022, the distribution of a dividend of € 0.075 per share (net) from the profits of the year 2021 and previous years.
(1) Excluding gains on real estate revaluation at fair value
(2) Excluding profits of € 75 thousand from the sale of investment property (one-off)
Source: Capital
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