Globalworth Real Estate has just published its results for the year ended 31 December 2014. In brief, the EPRA NAV rose from €6.03 to €8.09. Underlying EPS was 16.1% higher at €2.02. The loan to value rose from 29.5% to 34.4%. the weighted average cost of debt is 3.99%, down from 5.95% with a weighted average maturity of 5.4 years, up from 3.7 years.
The Chairman said they successfully signed leases corresponding to more than 112,000sqm of commercial space, making them one of the prime landlords in Romania with over 270,000sqm of occupied commercial space. Their target for 2015 is to build on the success of 2014 by signing new landmark leases, such as those signed in 2014 with Continental, Deutsche Telekom and Vodafone for a total of c.86,000sqm.
GWI : Globalworth reports on profitable 2014