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LAMDA Development - H12015 Financial Results

20 November 15 - RE+D Magazine
LAMDA Development - H12015 Financial Results

CONTINUOUS IMPROVEMENT IN THE PROFITABILITY OF SHOPPING CENTERS

 

Reaffirming the positive trend that started in mid-2013 and despite the adverse economic environment this year, EBITDA of Lamda Development's three Shopping Centers posted an increase of 7% reaching €30,0 million in the first nine months of 2015.

Consolidated EBITDA before valuations reached €23,9 million, posting an increase of 4,4% compared to the equivalent period last year.

Aggregate shopkeepers’ turnover in their three malls increased by 3,4% while total customer visits remained flat. 

Average occupancy of Shopping Centres’ exceeds 98%, while demand for retail spaces is still strong. 

The favourable performance of Shopping Centres compared to the rest of the retail market in Greece proves the fact that they have overwhelmingly won the preference of the consumer public. 

Shopkeepers continue to enjoy ample support via marketing, promotional and communication activities which procure growth in customer visits as evidenced by actual data.

Shopkeepers’ turnover in “Golden Hall” was increased by 4,1%, while customer visits increased by 1,6% in the first nine months of 2015.

In “Mediterranean Cosmos” in Thessaloniki, shopkeepers’ turnover increased by 3,5%, customer visits by 1% while the Centre is fully occupied. 

Regarding “The Mall Athens”, shopkeepers’ turnover was increased by 2,8%, while customer visits remained flat.

Read more in Lamda's press release.
 

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