OR Briq Properties AEAPE announced today (7.8.2025) its basic sizes for the first half of the year 2025 (1.1.2025 – 30.6.2025).
On June 30, 2025, the Briq Properties real estate portfolio included 55 properties totaling € 286 million, based on the valuations of 30.06.2025, compared to € 285 million at 31.12.2024.
This change is analyzed as follows:
1. On March 13, 2025, the company sold two horizontal properties, with a total area of 1,406 sqm, on the 12th and 13th floor of the building of the Athens Pyrgos, at 2-4 Mesogeion Avenue in Athens, for a total price of 4.2 million to the total price of 4,2 million in and its sale is € 1.4 million.
2. On March 18, 2025, the company completed the 1,500 sq.m. in Naoussa Paros, which is adjacent to the property of the company in which the hotel “Mr & Mrs White Paros” operates, for € 1.25 million. The company plans to expand the hotel by increasing its capacity.
3. An increase of € 1.5 million due to capital expenditure (CAPEX) for renovations and development of existing property.
4. An increase of € 2.3 million from adjustment of the reasonable values of the existing portfolio, based on valuations of independent appraisers. Following the completion of the merger with the absorption of Intercontinental International SA. (“ICI”), the company suffered a significant increase in all its sizes in the first half of 2025, compared to the corresponding period of the previous year, and in particular:
- Revenue from rent increased by 49% to € 10.9 million, compared to € 7.3 million.
- Customized profits before interest, tax and depreciation (adj. EBITDA) increased by 46%, and amounted to € 9 million, compared to € 6.2 million.
- Customized pre -tax profits (adj. EBT) increased by 58% and amounted to € 6 million, compared to € 3.8 million.
- Net profit after tax (by ICTA) amounted to € 7 million, compared to € 10.2 million, which includes € 2.3 million for property value adjustment for the first half of € 2025 for € 7 million for the corresponding period last year.
- Customized net profits after tax increased by 72% and amounted to € 5.5 million, compared to € 3.2 million.
- Customized net profits per share increased by 30% and stood at € 0.1186/share, compared to € 0.0915/share.
- FFO capital (FFO) increased by 93%, reaching € 4.9 million, compared to € 2.5 million.
Concerning the data of the Group’s balance sheet of 30.06.2025 compared to 31.12.2024, the following main sizes are presented:
- Cash -available ones amounted to € 7.1 million (31.12.2024: € 7.3 cm)
- The total borrowing was reduced to € 124.6 million (31.12.2024: 128.7 million) corresponding to LTV 43.6% and Net LTV 41.1%.
- The total of equity (NAVs) corresponding to shareholders of the company on June 30, 2025, increased by 2.9% and amounted to € 156.9 million versus € 152.5 million on 31 December 2024 after distributing a dividend of € 6.0 million paid on 29.05.2025.
- The net asset value per share (NAV / share) was maintained at € 3.42 (31.12.2024: € 3.43), taking into account the dividend distribution of € 0.135 / share paid on 29.05.2025 as well as the increase in the number of shares from the scrip dividend.