Brief: Public Property Invest H1 Pre-Tax Loss Narrows To NOK 203 Mln

Public Property Invest ASA

11/07/2024 09:40

July 11 (Reuters) - Public Property Invest ASA
 PUBLI.OL :
    * H1 NET OPERATING INCOME UP 6.5% TO NOK 279 MILLION
    * H1 LOSS BEFORE TAX NOK 203 MILLION VS LOSS 290 MLN YR AGO
    * PPI WILL POSITION ITSELF AS A LEADING CONSOLIDATOR WITH
LOW
LEVERAGE, HIGH GROWTH AMBITIONS AND AN ATTRACTIVE DIVIDEND
POLICY - INTERIM CEO ILIJA BATLJAN
    * SAYS CO HAS A STRONG FINANCIAL POSITION AND AVAILABLE
LIQUIDITY
TO DELIVER ON GROWTH AMBITIONS
    * H1 LTV AT 40.2% VS 64.9% AT THE END-2023
    * H1 NET VALUE CHANGES HAD AN IMPACT ON PROFIT OF NOK -215
MILLION
(-408)
    * IN CONNECTION WITH IPO, COMPANY RAISED NOK 1,336 MILLION
IN NET
PROCEEDS, OF WHICH NOK 1,020 MILLION WILL BE USED TO REPAY DEBT
    * REFINANCED ALL ITS LIABILITIES AND 70% OF ITS DEBT IS NOW
AT
FIXED RATES, WITH EXTENDED MATURITIES

        
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