28th Aug 2025 11:38
(Alliance News) - Globalworth Real Estate Investments Ltd on Thursday reported lower revenue but nevertheless swung to a profit amid lower costs.
The real estate investor focused on Central and Eastern Europe said it swung to a pretax profit of EUR22.2 million in the first half of 2025 from a loss of EUR65.1 million a year ago.
However, net operating income declined 7.4% to EUR67.0 million from EUR72.4 million.
Revenue fell 7.5% to EUR115.7 million from EUR125.0 million.
Operating expenses came down 7.6% to EUR48.7 million from EUR52.7 million.
Notably, the company for the first half of 2024 had reported a loss from subsidiary sales of EUR24.1 million and a EUR13.2 million loss from a joint venture sale, neither of which repeated in the first half of 2025.
The total combined portfolio value as at June 30 was EUR2.6 billion, down from EUR2.7 billion a year prior, however it was up by 0.6% from December 31, 2024.
Globalworth declared a EUR0.05 per share cash dividend for the first half of 2025. It said it won't offer a scrip dividend alternative this time, since it isn't necessary to meet bond restrictions.
Globalworth Real Estate shares rose 1.3% to EUR2.40 on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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