BRIQ PROPERTIES (Q3/9M:20 review): Ξέχασαν να μας ενημερώσουν για το κυριότερο

BRIQ PROPERTIES (Q3/9M:20 review): Ξέχασαν να μας ενημερώσουν για το κυριότερο

  • ΤΟΥΤΕΣΤΙΝ για την NAV 

Οι εταιρείες του κλάδου της κρίνονται κατά 90% από την Net Asset value. Ομως στο δελτίο τύπου της εταιρείας δεν έγινε καμμία αναφορά σε αυτήν. Είναι μία σημαντική παράλειψη.

Rental income climbed 32% to €2.765mn, courtesy of new real estate assets acquired during the period and despite €509K rental loss form pandemic measures (-40% rentals reduction for a couple of months). 

  • Total properties in the portfolio included 26 assets with a total NAV of €72.557mn. EBITDA came in 15% higher to €2.239mn with Adjusted EBITDA (ie excluding revaluation gains or losses from property value adjustments) standing at €1.842mn, up 29% y-o-y. Adjusted Net Income accelerated 57% to €1.573mn with reported net income landing 19% higher to €1.805mn.

Net cash as of end September 2020 stood at €11.248mn as the company repaid during 2020 €12.572mn corporate bond loans. Total treasury stands at 272,412 shares (0.76% of share capital) with a total acquisition cost of €474K (€1.74/share). Overall a satisfactory set of results weathering pandemic effects. 

The following table summarize BRIQ PROPERTIES 9M:20 financial performance:

 MANOS CHATZIDAKIS

BRIQ

2019

2020

Y-o-Y

2019

2020

Y-o-Y

EUR thous.

9M

9M

(%)

Q3

Q3

(%)

Sales

2,100

2,765

31.7% 

783 

999 

27.6% 

EBITDA

1,944

2,239

15.2% 

531 

777  

46.3% 

EBITDA Mrg

92.6% 

81.0% 

-1,159 bps 

67.8% 

77.8% 

+996 bps 

Net Income

1,522

1,805

18.6% 

418 

732 

75.1% 

Net Mrg

72.5% 

65.3% 

-720 bps 

53.4% 

73.3% 

+1,989 bps