Trade Estates' total revenues amounted to €20.2 million in H1 2024 compared to €11.8 million (increased by 71.0%) compared to H1 2023.

IN DETAIL

• Rental income amounted to €17.8 million compared to €10.8 million (increased by 65.0%) compared to H1 2023.
• Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortisation (Adjusted EBITDA) amounted to €14.1 million compared to €8.7 million (up 62.6%) compared to H1 2023.
• Net profit, excluding gains from the fair value adjustment of investment properties, amounted to 6.9€ million compared to €4.4 million (increased by 56.8%) compared to H1 2023.
• Funds from operations amounted to €7.3 million compared to €4.5 million (increased by 60.1%) compared to H1 2023.
• Total assets amounted to €557.2 million as of 30 June 2024, compared to €543.8 million (up 2.5%) compared to 31 December 2023.
• The gross asset value of the company's real estate portfolio as of 30.06.2024 amounted to €499 million compared to €484 million as of 31 December 2023 (an increase of 3.1%).
• The internal book value (net asset value) as of June 30, 2024, amounted to EUR 303.6 million (€2.52 per share) compared to EUR 298.4 million (€2.48 per share), an increase of 1.8% compared to December 31, 2023.

CEO STATEMENT

Mr. Dimitris Papoulis, CEO of Trade Estates, stated: "The strong results we are announcing for H1 2024 fully confirm the guidance we issued for the full year 2024 at Trade Estates' 1st AGM following its admission to trading. Our trade estates continue to outperform the market in terms of footfall and per capita consumption and together with the active management of operating and financial costs, contribute to the company's very positive financial results. At the same time, we are consistently executing our investment plan, despite challenges in construction and labour costs, creating first-choice shopping destinations for consumers as well as state-of-the-art freight centres, and making the most of the opportunities offered by the Resilience and Recovery Fund. At the heart of our strategy is always the consumer and strong strategic relationships with the largest
Greek and international retail groups."