EPH European Property Holdings PLC announces Unaudited Interim Results for the Six Months ending 30 June 2024

27 September 2024, Limassol , Cyprus / Ad hoc announcement pursuant to Art. 53 LRBUSINESS HIGHLIGHTS FIRST HALF YEAR OF 2024 In the first six months of 2024, EPH European Property Holdings PLC (“EPH” or the “Company”) maintained a stable operating performance despite numerous challenges in the global market environment. This success can be attributed to the Company's high-quality properties in prime locations in Europe, which are leased to tenants with strong credit ratings,...

Zürich, 27/09/2024 (informazione.it - comunicati stampa - servizi)

Increase in rental income from EUR 15.63 million for the first six months of 2023 to EUR 17.39 million for the first six months of 2024. This is primarily attributable to the property Lass 1 (Vienna) (89% of the total growth), where rental income substantially increased after the end of the grace periods that were provided to the tenants for most of 2023. Regular indexation of rental rates in other properties also contributed to the growth.

Loss on revaluation of investment properties of EUR 20.16 million in the first half of 2024 compared to a loss of EUR 45.77 million in the first half of 2023 mainly reflecting macroeconomic developments in Europe. The values were adjusted by EUR 19.1 million for the Austrian office properties and EUR 2.12 million for the German office properties. The hotel properties in Germany were appreciated by EUR 1.06 million.

As a result of the increase in interest rates on bonds extended in October 2023 and June 2024 for five years, finance cost increased from EUR 6.04 million in HY 2023 to EUR 8.05 million in HY 2024.

The full Semi-Annual Results 2024, including the Interim Condensed Consolidated Financial Information (unaudited) for EPH, are available on the company's website:

EPH SEMI-ANNUAL REPORT 2024

 

Please join management for a conference call to discuss EPH's results for the six months to 30 June 2024 on

+41 43 216 12 79

26391867#

 

Find a local number

https://dialin.teams.microsoft.com/ca5adb02-80f1-4920-a5e9-f70787fbb27b?id=26391867

A presentation for the call will be posted on the company's website shortly before the call: https://europeanpropertyholdings.com/

EPH European Property Holdings PLC is an investment company listed on SIX Swiss Exchange. Additional information on EPH European Property Holdings PLC is available by contacting Anna Bernhart Tel: +41 44 503 5400 or at contact@europeanpropertyholdings.com

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