BriQ Properties: Revenue increased by 14% for 2023

14% increased the SNEAP for 2023, according to its announcement. In particular, rent revenues amounted to EUR 9,1 million compared to EUR 8 million of last year. The increase in BriQ Properties revenue is mainly due to the lease of the expansion of the first Logistics Building (AD 1) located at the company’s Logistics Park in Aspropyrgos, as well as the annual adjustment of rents. The distribution of the value of investment properties at 31.12.2023 per real estate sector category was 51% in storage and distribution buildings (logistics), 26% in office buildings, 20% in hotels and 3% in other real estate categories. The most important event of the use of 2023 was the signing of the agreement on the merger of Intercontinental International SNEAP which took place on 23.02.2023. The first stage of the agreement was concluded on 31.01.2024 with the purchase of 16 real estate by ICI, including 14 ICI properties leased to Alpha Bank, compared to EUR 56,6 million. At the same time, the 17th property of this agreement was signed at a sales price of EUR 4 million. The transaction was financed entirely by bank loan. During the use of 2023, the company recorded at a consolidated level an increase in all its sizes, in particular: The total value of the company’s real estate portfolio at 31.12.2023 amounted to EUR 148,9 million compared to EUR 136,3 million at 31.12.2022, showing an increase of 9%. Rent revenues amounted to 9.1m euros compared to 8m euros last year with an increase of 14%. The profits from adjusting real estate to fair value amounted to EUR 8.1 million (2022: EUR 7.5 million), mainly due to over-performances of the real estate branches of distribution and storage centres and hotels. Adapted profit before interest and depreciation taxes (EBITDA) increased by 19% and amounted to €6.9 million compared to €5.8 million last year. Adapted net profits before tax increased by 14% and amounted to 5.4m euros compared to 4.8m euros last year. Adapted net profits after taxes increased marginally by 4% and amounted to 4.7m euros compared to 4.6m euros last year due to increased interest and taxes on last year. The total equity of the company (N.A.V.) on 31 December 2023 amounted to EUR 109 million compared to EUR 98 million (EUR 3,07/share for EUR 2,78/share on 31.12.2022) with an increase of 11%. Cash available on 31 December 2023 amounted to EUR 2.8 million, unlike 31 December 2022, which had reached EUR 3.3 million. Finally, the loan obligations reached EUR 37 million in 2023, while the corresponding liabilities for 2022 had reached EUR 34.6 million.