ARTICLES LABELLED WITH TAG CEE

CPI Property Group reported first-quarter profit growth of 243 percent year-on-year to €381 million (roughly CZK 9.4 billion). It was able to do so thanks to its takeover of Austria's Immofinanz, which owns a number of commercial properties. CPI now owns 76.86 percent of the shares in this Austrian company. As a result, CPI is currently the Central European leader in real estate and is planning further expansion with the Austrian real estate company S Immo, where it now controls 42.6 per cent along with Immofinanz.

Skanska's commercial development business unit in Central and Eastern Europe (CEE) appointed new directors responsible for the developing and leading teams in Environmental and Health & Safety areas.

Immofinanz’s like-for-like rental income rose by 4.3% in the first quarter of 20221, the occupancy rate remained high at 94.4%, and FFO 1 before tax was stable at a very good level of €34.4 million. Net profit totalled €72.4 million, compared with a substantial positive effect in the first quarter of the previous year from the revaluation of the stake in S Immo. With an equity ratio of 52.3% and a conservative debt level with a net LTV of 32.7%, Immofinanz has a strong capital foundation.

With profitable sales of non-strategic properties and good progress in the implementation of the development pipeline, CA Immo's operating performance remained stable in the first quarter, seamlessly from the previous quarters. The strong sales result combined with lower indirect costs led to an increase in operating profit of around 6%. In addition, a significant increase in revaluation results helped to more than triple consolidated net income compared with the previous year.

Year-end volumes for 2022 in Central and Eastern Europe could reach in excess of €12 billion but uncertainty around the war in Ukraine and economic headwinds, could impact this prediction, reveals a report by Colliers: CEE Investment Scene  Q1 2022.

In Q1 2022, GTC’s adjusted EBITDA was at €26 million (€24 million in Q1 2021) and the net profit amounted to €15 million (€9 million in Q1 2021). This mainly resulted from a strong operating performance combined with profit from revaluation/impairment of assets of €3 million, partially offset by an increase in foreign exchange differences loss by €1 million.

David Ebbrell, CEO and Mirta Ceranac Poljak, Managing Director for Croatia at M7 Real Estate talked to Property Forum at MIPIM about investment strategy, economic challenges and opportunities for sustainable growth.

Zoltán Fekete and Ariel Ferstman, the CEO and CFO of Globe Trade Centre, have talked to Property Forum about GTC`s financial results in 2021, shaking off the last COVID-related restrictions and biggest challenges for the commercial property market in 2022.

The Central & Eastern European real estate market has registered an investment volume of €2.8 billion in Q1 2022, up 44% year-on-year. By volume, the lion’s share of the deals was realised in Poland (59%) and the Czech Republic (32%). Cushman & Wakefield has summed up the investment market in the CEE region.

Immofinanz has announced that the Supervisory Board has appointed Radka Doehring as a member of the Executive Board as of 1st May 2022 for three years.