31/07/2015 - Financial Results for the 1st Half of 2015

Press Release
Financial results for the 1st Half of 2015



The Group's rental income for the first half of 2015 amounted to € 2,1 million remaining at the same level as last year, while total operating expenses decreased to € 0,8 million against € 1,0 million in the previous year.
The value of the property portfolio amounted to € 71, 1 million compared to € 74,8 million due to fair value decrease that amounted to € 3,7 million against € 1,4 million for the corresponding period last year .
The Group recorded a loss before tax of € 2,5 million compared to profit of €0,4 million the same period last year. This difference is primarily attributed to the revaluation of the company's investment properties. Similarly, the losses after tax amounted to € 2,4 million compared to profit after tax for the corresponding period last year that amounted to € 0,5 million.
The cash and cash equivalents of the Group as of 30/06/2015 amounted to €3,9 million while their loan obligations amounted to € 7,2 million.
The company's share traded on 30/06/2015 at € 1,40, having a premium of approximately 8,414% in relation to its NAV (Net Asset Value).
The Company aims at consolidating and enlarging its portfolio, while optimizing its operating profitability. In this context, it will examine new investment opportunities under the current legislative framework and will pursue the sale of non-strategic assets reinvesting the proceeds in properties that will improve the company's portfolio profile.


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