Premia Properties reports €14.6M profits in 2021
The REIC recorded a strategic entry in the serviced residential sector with the acquisition of a property in Piraeus.
Premia Properties, during FY 2021 significantly expanded its investment portfolio, extending its activity in new sectors of the real estate market while simultaneously enhancing its capital structure via the successful, third in a row, share capital increase.
The REIC's real estate portfolio was expanded with the addition of ten (10) new properties as well as the signing of preliminary agreements for the acquisition of additional four (4) properties within 2021.
Strategic entry in the serviced residential sector with the acquisition of a
property in Piraeus.
The Group’s investment property value amounted to €146.8million versus €65.9million on 31.12.2020.
Furthermore, advance payments amounting to €12.9million were paid during the signing of the
above-mentioned preliminary agreements.
Healthy financial structure with a significant increase in the Group’s equity which stood at
€126.3million and net debt of €73.7million.
Consolidated profits from continuing operations amounted to €14.6million compared to €2.4million in
2020, as a result of the subsidiaries’ contribution in profit as well as, the effect from the
adjustment of deferred taxation due to the transformation of the Company to a REIC.