By 17.5, the group’s investment real estate leases increased in 2023. According to the relevant Communication, this increase is the result of the maturity of new investment in real estate income and new leases under the investment strategy implemented by the group. In particular, the proceeds from investment property leases of the Trastor group amounted to EUR 25,5 million in 2023 compared to EUR 21.7 million in 2022 (an increase of 17,5%). The profits of the group before tax, interest, depreciation and profit from the sale and adjustment of investment properties (adjusted EBITDA) in 2023 amounted to EUR 17,9 million compared to EUR 14,3 million in 2022 with an increase of 25,2%. At the same time, funds from operational activities (F.F. O.) increased from EUR 13.7 million in 2022 to EUR 15.8 million in 2023. In 2023 the group acquired 2 properties, and in addition 2 acquisitions of 100% of the shares of public limited companies with privately owned properties were completed, namely a modern storage and distribution centre in Aspropyrgos, Attica, and a real estate of office space on Mesogeion Avenue in Athens. Also, as part of the implementation of the real estate development programme, construction works for the construction of a multi-storey office property in Maroussi Attica, and for a modern commercial warehouse (logistics) in Aspropyrgos Attica, properties that will be certified according to the LEED standard at their completion. In addition to the above, the company implements a program of upgrading two of its existing properties, which will bear corresponding LEED and BREEAM certifications. The group’s investment portfolio on 31 December 2023 included 55 real estate, with a fair value of EUR 468,7 million compared to EUR 392,3 million on 31 December 2022. Tasos Casino, CEO of Trastor, made the following statement: “In 2023, in a difficult geopolitical and interest environment, the company continued to enhance its operational profitability by proving its resilience and our management ability to face any challenges that arise. After a successful share capital increase of €75 million completed in January 2024, combined with the country’s growth prospects and the expected decrease in interest rates, we are ready to step up our investment activity this year, further strengthening our position as one of the leading real estate investment companies in Greece.” SOURCE: RES-BE
Trastor: Income from rents increased by 17.5% in 2023
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in Undertakings