Capital Park's property portfolio amounted to PLN 2.1 billion at the end of H1 2023
Capital Park Group's 100%-consolidated property portfolio at the end of June 2023 covered a total area of 118,100 sqm and was worth PLN 2.1 billion, the company said.
The Group's portfolio included:
- Strategic properties with a total area of 103 thousand sq m in 2 completed projects providing ongoing rental income, which include the Royal Wilanów and Norblin Factory mixed-use projects, 98% leased, with a WAULT of 5.3 years
- Other properties with a total area of 15.1 thousand sq m in 7 projects, including 4 completed projects generating current rental income, leased at 96%, with a WAULT of 4 years, 1 residential project in preparation and 2 other properties (mainly land) - according to the quarterly company report,
In addition, under the Group's management, as at 30 June 2023, there was:
- 25 thousand sq m of space in 2 completed retail projects and in 2 joint-venture residential projects in the pipeline,
- 20 thousand sq m of space in two closed-end investment funds, viz: - REIA FIZAN - 29 'high street' properties, - REIA II FIZAN - 4 commercial properties (retail and office), the company stated.
Capital Park posted a net loss of PLN 41.67m, EBIT loss of PLN 87.24m in Q2 2023.
Capital Park posted a PLN 41.67m consolidated net loss attributable to shareholders of the parent company in Q2 2023, compared to PLN 17.75m profit a year earlier, the company said.
Operating loss amounted to PLN 87.24m vs. PLN 20.89m profit a year earlier.
Consolidated operating income reached PLN 43.2m in Q2 2023 vs. PLN 29.95m a year earlier.
In 1H 2023, the company posted a consolidated net loss of PLN 37.8m attributable to equity holders of the parent, compared to PLN 56.65m profit a year earlier, on operating income of PLN 85.15m, compared to PLN 57.33m a year earlier.
In the opinion of the Board of Directors, the Group's current and projected financial position is stable and does not indicate any risks in the management of financial resources. As at the reporting date, there were no events negatively affecting the Group's continued operations, according to the quarterly report.
"In H1 2023, the Company's and the Group's activities were primarily focused on commercialising completed properties and preparing for the development of projects. Aiming to maximise the value of completed projects and increase rental income, the Group actively managed its property portfolio by, among other things, maximising occupancy of existing projects, maintaining the best quality of properties, creating a tenant-friendly and functional space (Office+), .
On a standalone basis, the net loss in H1 2023 was PLN 41.59m, compared to a profit of PLN 58.97m a year earlier.
Source: Capital Park and ISBnews
Photo: Royal Wilanów - Capital Park