(Alliance News) - Globalworth Real Estate Investments Ltd on Monday reported a slight increase to its yearly revenue, and stressed that its future performance would rely on favourable inflation rates.
In 2023, the real estate investor focused on Central and Eastern Europe delivered EUR240.0 million in revenue, up 0.6% from EUR239.0 million in 2022.
Globalworth's pretax loss widened to EUR61.3 million from EUR11.2 million a year prior.
Adjusted earnings before interest, tax, depreciation and amortisation were EUR131.4 million, up 4.3% from EUR126.0 million in 2022.
The total dividends paid for 2023 amounted to 29 cents, increased from 27 cents.
The company's combined portfolio reached a value of EUR3.00 billion, 5.3% below EUR3.16 billion at the end of 2022.
Looking ahead, Globalworth said that its 2024 performance will depend heavily on the trajectory of inflation.
On Tuesday, the company also announced the sale of a portion of its logistics portfolio to CTP Invest Spol SRO for EUR70 million.
Shares in Globalworth closed up 4.9% at EUR2.56 each in London on Monday.
By Hugh Cameron, Alliance News reporter
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Globalworth (GWI)