According to the company's official press release, in the nine months ended in September has completed the,
- Addition of four (4) properties, three student residencies located in Athens, Thessaloniki and Patras, as well as the school facilities of Doukas, with the Group’s portfolio comprising thirty-one (31) properties, with total gross asset value at €229.0 mn. Post September 2022, the Company further strengthened its portfolio by completing milestone transactions such as the acquisition of the properties of BOUTARIS and ATHENS HEART.
- Total cash position at €75.8 mn and a healthy financial structure with the Group's Equity standing at €134.6 mn and net debt at €95.1 mn. The solid credit rating of the Company was confirmed by ICAP CRIF S.A. in October 2022, as part of its annual review, maintaining an A rating.
- 61% increase in revenue, doubling of operating profitability (Adjusted EBITDA) and tripling of profit after tax, on a consolidated basis, compared to the corresponding period of 2021.
PREMIA believes that it can smoothly implement its investment plan and remain on a growth path in the near future, as it possesses the required characteristics so as to respond efficiently to challenges
Income producing investment property gross yield 7.2%
Weighted average lease term (WALT) of 6.8 years. Approximately 88% of the relevant leases are subject to adjustments, at least on the basis of inflation. Moreover, the service concession (PPP) contract for the ten (10) schools has a duration until 2041, with part of its income following an inflationary adjustment as well,
Net LTV at 42%, weighted average loans' duration 6.7 years, and resilience against future
increases in interest rates (approximately 57% of current debt with fixed interest rate of 2.8%).
On 30.9.2022, the Group's weighted average cost of debt amounted to 2.75%.
