BriQ Properties' rental income increased by 59% in the first quarter and amounted to €3.5 million compared to €2.2 million in the corresponding period last year. Net profit after tax for the same period amounted to €1.8 million, an increase of 57%.

The value of the real estate portfolio, which counts 41 properties, amounted to €209 million.

In detail, according to the company's announcement, the Company recorded an increase in all its figures at a consolidated level, in particular:

As of March 31, 2024, the Group's investments included 41 properties with a total value of € 209 million, compared to € 149 million as of December 31, 2023.

Rental income increased by 59% to € 3.5 million compared to € 2.2 million in the same period last year due to the inclusion of income from the 16 new properties acquired on 31, 2024.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 73% to € 3.0 million compared to € 1.7 million in Q1 2023.

Earnings before tax (EBT) increased by 58% to € 2.1 million, compared to € 1.3 million in the same period last year.

Net profit after tax increased by 57% to € 1.8 million, compared to € 1.2 million for the same period last year

Funds from operating activities attributable to equity holders of the Company (FFO) increased by 45% to € 1.6 million compared to € 1.1 million in Q1 2023.

NAV) / share increased to € 3.12 from € 3.07 as of December 31, 2023 (+1.6%).

The key financial figures and key ratios, on a consolidated basis, are included in the following tables: 

BriQ Properties: rental income of €3.5 million in Q1-1

BriQ Properties: rental income of EUR 3,5 million in Q1-2

According to the company, the most significant event of Q1 2024 is the purchase of 16 properties from ICI, which was completed on 31, 2024, for € 56.6 million. At the same time, a preliminary agreement was signed for the 17th property of this deal with a sales price of € 4.0 million.

Following the acquisition of the 16 properties on January 31, 2024, the Company's property portfolio comprises 41 properties valued at € 209 million. Annualized income based on the leases in force amounts to € 15.3 million, and, excluding properties under development and owner-occupied properties, the gross yield of the Company's investment portfolio amounts to 7.9% on an annualised basis, with an occupancy rate of 99.2%.