on Grand City Properties S.A., (isin : LU0775917882)
Grand City Properties Reports Robust 9M 2024 Results
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Grand City Properties S.A. announced strong results for the first nine months of 2024, reflecting solid operational performance. The net rental income rose by 3% to €317 million, compared to €307 million in 9M 2023, driven by a 3.5% like-for-like rental growth. This operational strength led to a 5% increase in adjusted EBITDA, reaching €250 million.
Despite strong operational metrics, the company reported a net loss of €17 million, primarily due to negative property revaluations in the first half of the year. However, liquidity remained strong with €1.5 billion in cash and liquid assets.
Grand City Properties also maintained a conservative leverage position, with a stable Loan-to-Value (LTV) ratio of 36% and significant unencumbered assets worth €6.2 billion. The company confirmed its full-year guidance based on these results.
R. P.
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