Globalworth Real Estate Investments Ltd - investor in real estate in Central and Eastern Europe, with particular focus on Poland and Romania - Revenue in 2022 rises by 9.0% to EUR239.3 million from EUR219.4 million a year ago. Total annualised contracted rent is up 2.0% to EUR189.2 million. However, swings to a pretax loss of EUR11.2 million from a profit of EUR62.1 million. Globalworth says this was due to revaluation losses of EUR89.5 million in 2022, compared to just EUR5.7 million in revaluation losses in 2021.
Adjusted earnings before interest, tax, depreciation and amortisation is down 3.2% to EUR126.0 million from EUR130.2 million a year ago. Says that it will pay shareholders a dividend of EUR0.27 per share for 2022. This is down by 10% from 2021's dividend of EUR0.30.
Current stock price: EUR2.65
12-month change: down 53%
By Xindi Wei, Alliance News reporter
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Globalworth (GWI)