Brief: Grand City Properties H1 Profit At EUR 234 Mln

Grand City Properties SA

15/08/2022 05:54

Aug 15 (Reuters) - GRAND CITY PROPERTIES SA  GYC.DE :
    * ANNOUNCES H1 2022 RESULTS
    * H1 DILUTED EPS 1.17 EUR
    * H1 BASIC EPS 1.21 EUR
    * NET RENTAL INCOME FOR H1 2022 AMOUNTED TO EUR 195 MILLION,
UP BY
6% YOY, DRIVEN BY LIKE-FOR-LIKE RENTAL GROWTH OF 3.0% COMPRISING
OF 2.2% IN-PLACE RENT INCREASES AND 0.8% OCCUPANCY INCREASES.
    * FFO I OF EUR 97 MILLION IN SIX MONTHS OF 2022, INCREASING
BY 3%
YOY
    * H1 PROFIT FOR PERIOD OF EUR 234 MILLION, REFLECTING A
BASIC EPS
OF EUR 1.21 AND A DILUTED EPS OF EUR 1.17
    * FY 2022 GUIDANCE CONFIRMED AND ALL FINANCIAL POLICIES ARE
IN
LINE
    * ROBUST EQUITY BASE AT END OF H1 2022 WITH AN EQUITY RATIO
OF 53%
AND TOTAL EQUITY AMOUNTING TO EUR 6 BILLION
    * EPRA NTA OF EUR 5.2 BILLION AS OF JUNE 2022
    * H1 ADJUSTED EBITDA AT EUR 152 MILLION, UP 3% AS COMPARED
TO EUR
147 MILLION GENERATED IN SAME PERIOD IN 2021 PRIMARILY AS RESULT
OF STRONG RENTAL GROWTH, OFFSET BY COST INFLATION

Source text for Eikon:  ID:nEQ506VzYa 
Further company coverage:  GYC.DE 

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