BriQ Properties real estate investment: PRESS RELEASE H1 2021 FINANCIAL RESULTS

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September 27e, 2021

Press release

46% increase in turnover for the first half of 2021

BriQ Properties REIC (the “Company” and the “Group”) announces that according to the consolidated financial statements for the first half of 2021, the rental income of the Group amounts to € 2.574k compared to € 1.766k for the respective period of the year last. , registering an increase of 46%. This increase was achieved despite the drop in turnover of 951 K € in the first half of 2021 due to the measures imposed due to COVID-19, while the corresponding decrease in the first half of 2020 was significantly lower (374 K €) . The 46% increase in revenue is mainly due to the integration of revenue from new logistics investments during the previous twelve month period.

The significant shift of the Company’s portfolio to the logistics sector is proven by the fact that the value of the portfolio at June 30, 2021 was split 47% in logistics, 30% in offices, 17% in hotels and 6% in other uses on 30.06. 2020 the breakdown was 44% offices, 27% hotels, 14% logistics and 15% other uses.

The Group recorded an increase in its financial performance indicators compared to the same period last year, in particular:

  • June 30st, 2021, the Group’s portfolio consisted of 28 buildings with a total value of 114.244 thousand euros against buildings with a total value of 106,001 thousand euros at 12.31.2010 and buildings with a total value from € 71.665 as of 06/30/2020.
  • During the first half of 2021, the Company made new investments for a total amount of 6,151 thousand euros, of which 2,146 thousand euros related to the purchase of an office building in Piraeus, 1,054 thousand euros euros related to the acquisition of land in its Aspropyrgos area and € 2,950. thousands related to the construction of a warehouse and distribution in Aspropyrgos, Attica.
  • Adjusted(1) (2) EBITDA (Profit before interest, taxes, depreciation and amortization) increased by 44.3% to 1.661 thousand euros compared to 1.152 € for the same period of the previous year.
  • Adjusted(1) (2) EBT (Profit before taxes) increased by 62% to € 1,310k against € 809 for the same period last year.
  • Adjusted(1) Net profit after tax increased by 64.2% to € 1,253 thousand compared to € 763 for the same period last year.

Cash and cash equivalents as of June 30, 2021 amounted to € 3,358,000 compared to € 2,067,000 as of December 31, 2020.

As of June 30, 2021, the Group’s loan obligations amounted to € 26,232,000 compared to € 18,313,000 as of December 31, 2020.

25 Al. Rue Pantou • GR 176 71 Kallithea • Tel. : +30 211 999 1699 • e-mail:[email protected]

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As of June 30, 2021, the Company held a total of 358,618 treasury shares valued at 753 thousand euros with an acquisition value of 624 thousand euros. The treasury shares held correspond to 1.00% of the Company’s share capital.

The main financial data and key ratios are shown in the following tables:

P&L (amounts in 000 €)

01.01-

01.01-

%

06/30/2021

06/30/2020

Rental income

2,574

1,766

45.7%

EBITDA (Profit before interest, taxes, depreciation and

3,421

1.462

134.0%

amortization)

Adjust. EBITDA (excluding revaluation result and excluding

1,661

1,152

44.2%

expenses) (1) (2)

EBT (Profit before taxes)

3.070

1.119

174%

Adjusted EBT (profit before tax) (1)

1.310

809

62.0%

Net profit after tax

3.013

1,073

181%

Adjusted net income after tax (1)

1,253

763

64.3%

  1. Excluding the result of fair value revaluations of investment properties
  2. Includes property tax adjustments (ENFIA) as the first half results include 100% of the annual ENFIA provision.

Key ratios

06/30/2021

31.12.2020

Loan to value ratio (debt to property)

23.0%

17.2%

Loan-to-equity ratio ((debt-to-cash) / properties)

20.0%

15.3%

Total equity corresponding to the shareholders of the Company (NAV)

84.282

84,016

Net asset value per share (Ν.Α.V. / share)

€ 2.38

€ 2.37

The Company’s management will present the financial results for the six-month period ended June 30, 2021, by conference call, on Monday September 24, 2021 at 2:00 p.m. Greek time.

  • Greece phone number: + 30 213 009 6000
  • UK phone number: + 44 203 059 5872
  • US phone number: +1 516 447 5632

If you need further information, please contact Mr. Andrikakis Emmanuel, Head of Investor Relations, at (+30) 211 999 1631 or Chorus Call Hellas SA, Teleconference Service Provider at (+30) 210 94 27 300.

The condensed half-year consolidated accounts for the first half of the year ended June 30, 2021 will be posted on the Athens Stock Exchange website. (www.helex.gr) and on the company website (www.briqproperties.gr) Monday September 27st, 2021.

25 Al. Rue Pantou • GR 176 71 Kallithea • Tel. : +30 211 999 1699 • e-mail:[email protected]

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Disclaimer

BriQ REIC properties published this content on September 27, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 27, 2021 06:41:02 AM UTC.

Public now 2021

All the news of BRIQ PROPERTIES SOCIETE D’INVESTISSEMENT IMMOBILIER
Sales 2020 3.68 million
4.31 million
4.31 million
2020 net income 1.92 million
2.25 million
2.25 million
Net debt 2020 16.3 million
19.1 million
19.1 million
PER 2020 ratio 36.4x
2020 yield 3.05%
Capitalization 75.4 million
88.3 million
88.4 million
VE / Sales 2019 18.8x
VE / Sales 2020 23.4x
Number of employees 6
Free float 44.6%

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