Grand City Properties

EQS-News: Grand City Properties S.A. announces FY 2023 results with robust operational growth and stable LTV

Retrieved on: 
Wednesday, March 13, 2024

Adjusted EBITDA of €320 million in FY 2023, higher by 4% as compared to €308 million in FY 2022.

Key Points: 
  • Adjusted EBITDA of €320 million in FY 2023, higher by 4% as compared to €308 million in FY 2022.
  • EPRA LTV (considering perpetual notes as debt) as of December 2023 is 48%, up from 46% in December 2022 due to negative property revaluation.
  • Luxembourg, March 13, 2024 – Grand City Properties S.A. (“GCP” or the “Company”) announces results for the financial year 2023 with robust operational performance, strong liquidity position and conservative financial leverage maintained.
  • In 2023, GCP continued its proactive approach of strengthening liquidity, reducing refinance risk and maintaining a conservative financial profile with stable LTV ratio.

Grand City Properties S.A. announces FY 2023 results with robust operational growth and stable LTV

Retrieved on: 
Wednesday, March 13, 2024

Adjusted EBITDA of €320 million in FY 2023, higher by 4% as compared to €308 million in FY 2022.

Key Points: 
  • Adjusted EBITDA of €320 million in FY 2023, higher by 4% as compared to €308 million in FY 2022.
  • EPRA LTV (considering perpetual notes as debt) as of December 2023 is 48%, up from 46% in December 2022 due to negative property revaluation.
  • Luxembourg, March 13, 2024 – Grand City Properties S.A. (“GCP” or the “Company”) announces results for the financial year 2023 with robust operational performance, strong liquidity position and conservative financial leverage maintained.
  • In 2023, GCP continued its proactive approach of strengthening liquidity, reducing refinance risk and maintaining a conservative financial profile with stable LTV ratio.

Grand City Properties S.A. announces results for 9M 2023 driven by strong operational results and high liquidity position

Retrieved on: 
Wednesday, December 13, 2023

Adjusted EBITDA of €240 million in 9M 2023, increasing by 4% as compared to €230 million in 9M 2022.

Key Points: 
  • Adjusted EBITDA of €240 million in 9M 2023, increasing by 4% as compared to €230 million in 9M 2022.
  • Loss of €398 million in 9M 2023 primarily as a result of negative property revaluations, offset by robust operational profits.
  • Luxembourg, November 15, 2023 – Grand City Properties S.A. (“GCP” or the “Company”) announces results for the nine-month period ending September 2023 with strong operational performance and conservative financial leverage maintained.
  • Refael Zamir, CEO of Grand City Properties: "The nine-month period of 2023 showcased a strong operational performance in Germany as well as in London.

EQS-News: Grand City Properties S.A. announces results for 9M 2023 driven by strong operational results and high liquidity position

Retrieved on: 
Wednesday, December 13, 2023

Adjusted EBITDA of €240 million in 9M 2023, increasing by 4% as compared to €230 million in 9M 2022.

Key Points: 
  • Adjusted EBITDA of €240 million in 9M 2023, increasing by 4% as compared to €230 million in 9M 2022.
  • Loss of €398 million in 9M 2023 primarily as a result of negative property revaluations, offset by robust operational profits.
  • Luxembourg, November 15, 2023 – Grand City Properties S.A. (“GCP” or the “Company”) announces results for the nine-month period ending September 2023 with strong operational performance and conservative financial leverage maintained.
  • Refael Zamir, CEO of Grand City Properties: "The nine-month period of 2023 showcased a strong operational performance in Germany as well as in London.

EQS-News: GCP S.A. announces H1 2023 results

Retrieved on: 
Tuesday, August 22, 2023

Adjusted EBITDA of €160 million in H1 2023, increasing by 5% as compared to €152 million in H1 2022.

Key Points: 
  • Adjusted EBITDA of €160 million in H1 2023, increasing by 5% as compared to €152 million in H1 2022.
  • FFO I per share of €0.54 per share in H1 2023 as compared to €0.59 per share in H1 2022.
  • Luxembourg, August 16, 2023 – Grand City Properties S.A. (“GCP” or the “Company”) announces results for the first six months of 2023 with net rental income of €204 million, higher by 5% as compared to €195 million in H1 2022.
  • Furthermore, GCP signed approximately €210 million in new bank debt in H1 2023 and signed an additional bank debt of €230 million in Q3 2023.

GCP S.A. announces H1 2023 results

Retrieved on: 
Tuesday, August 22, 2023

Adjusted EBITDA of €160 million in H1 2023, increasing by 5% as compared to €152 million in H1 2022.

Key Points: 
  • Adjusted EBITDA of €160 million in H1 2023, increasing by 5% as compared to €152 million in H1 2022.
  • FFO I per share of €0.54 per share in H1 2023 as compared to €0.59 per share in H1 2022.
  • Luxembourg, August 16, 2023 – Grand City Properties S.A. (“GCP” or the “Company”) announces results for the first six months of 2023 with net rental income of €204 million, higher by 5% as compared to €195 million in H1 2022.
  • Furthermore, GCP signed approximately €210 million in new bank debt in H1 2023 and signed an additional bank debt of €230 million in Q3 2023.

EQS-News: Grand City Properties S.A.: GCP S.A. ANNOUNCES Q1 2023 RESULTS

Retrieved on: 
Wednesday, May 17, 2023

ANNOUNCES GOOD START FOR Q1 2023, DRIVEN BY SOLID OPERATIONAL RESULTS

Key Points: 
  • ANNOUNCES GOOD START FOR Q1 2023, DRIVEN BY SOLID OPERATIONAL RESULTS
    Net rental income of €101 million in Q1 2023, higher by 4% as compared to €97 million in Q1 2022.
  • FFO I of €47 million and €0.27 per share in Q1 2023, both lower as compared to €48 million and €0.29 per share in Q1 2022 due to increase in financing costs.
  • Luxembourg, May 17, 2023 – Grand City Properties S.A. (“GCP” or the “Company”) announces results for the three-month period ending March of 2023.
  • Refael Zamir, CEO of Grand City Properties: "We have begun the year with a positive operational result marked by solid like-for-like rental growth.

Grand City Properties S.A.: GCP S.A. ANNOUNCES Q1 2023 RESULTS

Retrieved on: 
Wednesday, May 17, 2023

ANNOUNCES GOOD START FOR Q1 2023, DRIVEN BY SOLID OPERATIONAL RESULTS

Key Points: 
  • ANNOUNCES GOOD START FOR Q1 2023, DRIVEN BY SOLID OPERATIONAL RESULTS
    Net rental income of €101 million in Q1 2023, higher by 4% as compared to €97 million in Q1 2022.
  • FFO I of €47 million and €0.27 per share in Q1 2023, both lower as compared to €48 million and €0.29 per share in Q1 2022 due to increase in financing costs.
  • Luxembourg, May 17, 2023 – Grand City Properties S.A. (“GCP” or the “Company”) announces results for the three-month period ending March of 2023.
  • Refael Zamir, CEO of Grand City Properties: "We have begun the year with a positive operational result marked by solid like-for-like rental growth.

EQS-News: Grand City Properties S.A. announces results for FY 2022 with solid operational performance despite macro-economic uncertainty

Retrieved on: 
Thursday, March 16, 2023

Solid FFO I growth, with FFO I for 2022 amounting to €192 million, 3% higher YOY.

Key Points: 
  • Solid FFO I growth, with FFO I for 2022 amounting to €192 million, 3% higher YOY.
  • FFO I per share of €1.14 per share in 2022, increasing by 3% as compared to €1.11 per share in 2021.
  • Luxembourg, March 16, 2023 – Grand City Properties S.A. (“GCP” or the “Company”) announces results for the financial year 2022.
  • Refael Zamir, CEO of Grand City Properties: "Throughout 2022, we continued our focus on delivering solid operational improvements that have brought portfolio vacancy to a record low of 4.2% and met 2022 guidance targets.

Grand City Properties S.A. announces results for FY 2022 with solid operational performance despite macro-economic uncertainty

Retrieved on: 
Thursday, March 16, 2023

Solid FFO I growth, with FFO I for 2022 amounting to €192 million, 3% higher YOY.

Key Points: 
  • Solid FFO I growth, with FFO I for 2022 amounting to €192 million, 3% higher YOY.
  • FFO I per share of €1.14 per share in 2022, increasing by 3% as compared to €1.11 per share in 2021.
  • Luxembourg, March 16, 2023 – Grand City Properties S.A. (“GCP” or the “Company”) announces results for the financial year 2022.
  • Refael Zamir, CEO of Grand City Properties: "Throughout 2022, we continued our focus on delivering solid operational improvements that have brought portfolio vacancy to a record low of 4.2% and met 2022 guidance targets.