Trade Estates: Increased revenue by 65.6% in the year of 2024

It announced the consolidated financial results for the 1 month of 2024, with the total of EUR 30.3 million compared to EUR 18.3 million (increased by 65.6%) compared to the 1 month 2023. The rent revenues of Trade Estates amounted to EUR 26,9 million compared to EUR 16,5 million (increased by 62,8%) compared to a 1 month 2023. In detail, the basic economic key elements: The adjusted profit before tax, interest and depreciation (Adjusted EBITDA) amounted to EUR 20,8 million compared to EUR 12.9 million (increased by 60.6% compared to the nine month 2023. Net profits, not including gains from adjusting the fair value of real estate investments amounted to EUR 9.2 million compared to EUR 5,9 million (increased by 55,0%) compared to the 1 month 2023. Funds from operations amounted to EUR 10,7 million compared to EUR 6,5 million (increased by 65,1%) compared to the year 2023. Total assets 571.7 million euros at 30.9.2024 versus 543,8 million euros (increase 5.1%) compared to 31.12.2023. Investments in real estate (not including land use rights and investment property advances) on 30.9.2024 amounted to EUR 497.9 million compared to EUR 477,1 million at 31.12.2023 (an increase of 4.4%). The internal book value (Net Asset Value) on 30 September 2024 amounted to EUR 303,1 million (EUR 2,52 per share) compared to EUR 298,4 million (EUR 2,48 per share), with an increase of 1,4% compared to 31.12.2023. On 18 November 2024 the Board of Directors of the Company decided to distribute a temporary dividend for the 2024 corporate year, a total net amount of EUR 0.047706 per share, i.e. a total amount of EUR 5,75 million. Details relating to this distribution shall be disclosed in a separate corporate communication. Key financial instruments and key indicators on a consolidated basis are presented below: Important Period Events Visitability and turnover of shops at Trade Estates shopping parks continued with positive paces and during the year of 2024. The significant increase in rent revenue from third party tenants and the expansion of the spread of revenues unrelated to the brand IKEA from 52% to 30.9.2023 to 68% at 30.9.2024 confirms the successful management strategy of the lease risk. The agreement on the creation by Trade Estates of the International Centre for Distribution of Inter-IKEA to Aspropyrgos was concluded, while work on the property in which the InterIKEA international logistics center will be erected is moving forward at an intensive pace and is evolving on the basis of the project schedule. Further, regarding the investment in the construction of a new logistics center in Elefsina that will be leased to Kotsovolos, urban and building licensing is evolving. Finally, the merger procedures of the subsidiaries ‘REDDEST INITIATIVE ANNOUNCEMENT INVESTMENT’ and ‘BERSENCO SA’ go to completion within the initial schedule and within the year. Investment In the field of commercial parks, the construction activity of the new commercial park in Heraklion, Crete, with a completion plan in the second quarter of 2025 is progressing intensively. On 31.7.2024 an agreement was signed between the company and TEN BRINKE HELLAS SA, under which the Company promises and agrees to acquire, after the cumulative fulfilment of the specified conditions, the total (100%) of the shares of the company “PERSENCO DEVELOPMENT AND EXCHANGE OF IMMUNTABLE ANNOUNCEMENT COMPANY”, the holder of a parcel of land in the district of the Regional Unit of Heraklion, a surface of 50.882,52sqm, within which the “PERSENCO DEVELOPMENT AND EXHIBITION OF INNOVABLE ANNOUNCEMENT COMPANY” will develop a new Commercial Complex with a total leased surface (GLA) of approximately 14.770 sq.m. Important events of the fourth quarter 2024 Signing of a sale of two horizontal properties with Hellenic M.A. Hey. (a subsidiary company of LAMDA Development S.A.), for the implementation of Retail Commercial Park in Commercial Hub, where The Ellinikon Mall will also be developed. Opening of Top Parks Patras Commercial Park in November 2024 with 100% lease completeness. Complete renegotiated financial terms with the cooperating banks with a view to reducing interest rate costs and ensuring new lines for financing development projects through the Durability and Recovery Fund. Premium payment for the financial year 2024. Dimitris Papoulis, CEO of Trade Estates, stated: “The strong results of a year 2024 fully verify the guidance we issued for the whole year. Especially in the 3rd quarter of 2024, the rates of increase in traffic and sales confirm the commerciality and resilience of our destinations. The upcoming advance payment for the 2024 use next December confirms our strategy and commitment to the creation of value for our shareholders.”