Latest News  

AFI net income up 8% at 9M, Romanian projects valued at 600 mln. euro

The net operating income (NOI) of the Romanian portfolio of AFI Europe Romania increased to euro 30 million, 8.2% higher then the first nine months (9M) of 2014. AFI Palace Cotroceni, the biggest asset, was valued as of 30.09.2015 at euro 434 million.

2015-11-23 16:11:47 - by Bogdan Tudorache

The NOI for 3rd quarter (Q3) was of euro 10.2 million and close to euro 30 million in the first 9 months of 2015, representing an 8.2% higher result compared to the similar periods of 2014.

Total value of the completed projects, shopping malls AFI Palace Cotroceni, AFI Palace Ploiesti and the first 3 office buildings of AFI Park, increased to close to euro 600 million, as of September 30, 2015.

AFI Palace Cotroceni Shopping Mall in Bucharest, the company's largest and most important asset, generated a NOI of euro 7.7 million in Q3 2015, representing 3.3% higher result than 2014 and euro 23 million in the first 9 months of 2015, representing a 4% higher result compared to the same period of 2014.

The shopping mall was valued as of September 30, 2015 at euro 434 million, representing an increase of 8.2% compared to last year.

AFI Palace Cotroceni retailer's sales (turnover) excluding the hypermarket increased by 7.3% in Q3 and by 7.4% in the first 9 months of 2015, compared to the same periods in 2014.

AFI Palace Ploiesti shopping mall net operating income (NOI) resulted in euro 3.2 million for the first 9 months of 2015 representing a 7% increase compared to the same period last year.

AFI Palace Ploiesti results show significant increase in retailer's sales (Turn-Over) which was increased in Q3, 2015 by 28% and by 23% in the first 9 months of 2015, compared to the same periods in 2014. Current occupancy rate of the shopping mall in Ploiesti exceeds 99%.

AFI Palace Ploiesti was valued at euro 67.7 million as of September 30, 2015, as opposed to euro 66 million last year.

"AFI Europe Romania has concluded Q3 and the first 9 months of 2015 with excellent operational and financial results as shown by the growth in NOI (Net Operating Income) of our income generating assets in Romania by 8.2% and by the valuation of our existing assets, 2 shopping malls and 3 office buildings, rising to a value close to euro 600 million," said David Hay, CEO AFI Europe Romania.

"Currently the portfolio in Romania consists of 150,000 sqm of leasable areas with an average occupancy rate in all income producing assets of over 98%. Additional 32,000 sqm of GLA are to be added to the portfolio upon the completion of AFI Park 4&5 in January 2016.

The good financial results coupled with positive microeconomic numbers of Romania encourage us to start more projects during next year such as: The new shopping Mall to be developed in Brasov (45,000 sqm GLA) and the Office Park to be developed on Progresului Boulevard in Bucharest (50,000 sqm GLA), which are planned to commence construction in 2016".

AFI Properties announces Dividend Distribution of euro 45 million

"AFI Properties", the parent company of "AFI Euroope", has published its Q3 and first 9 months of 2015 financial reports, registering profits of euro 34 million in Q3 and euro 46 million for the first 9 months of 2015.

AFI Properties also announced a net operating income (NOI) of euro 20 million for Q3 2015 and euro 61 million for the first 9 months of 2015 representing an increase of 2.3% in comparison to the first 9 months of 2014. Results for the first 9 months of 2015 compared to 2014 were influenced by the sale of the shopping mall in Pardubice in the Czech Republic and the weakening of the euro currency vs. the Shekel. The operational profit increased in the first 9 months of 2015 by 24% to euro 98 million compared to same period in 2014.

AFI Properties announced an additional dividend distribution to its shareholders of approximately euro 45 million following euro 18 million previously distributed this year.

Currently, AFI Properties through its subsidiaries is developing 75,000 sqm of offices (32,000 sqm in AFI Park 4 & 5 in Bucharest) and 575 residential units in addition to several hundreds of thousands of sqm which are currently in design phase.

AFI Properties currently owns 548,000 sqm of income producing assets.


0 COMMENTS ^ Go back to Top
WRITE A COMMENT ^ Go back to Top
 
Your email address will not be published.
Nickname
Email
Comment
Validation Code
   
 
 
NEWS
Stefanini officially launches the office at Chisinau

IT solutions provider Stefanini announced it officially launched its office at Chisinau, in the presence of local representatives such as Sabin Gîrlea, Operations Director for Application Development division

 Read Full article »
Computaris Romania hiring over 30 engineers for Bucharest site

Computaris Romania has achieved its Q1 2017 plans to hire more than 30 software engineers, exceeding 100 people at its Bucharest site.

 Read Full article »
Zitec expands at Brasov and plans to hire 20 IT professionals by the end of this year

Romanian software company Zitec recently announced it has opened an office in the central city of Brasov, where it plans to hire 20 by the end of this year.

 Read Full article »
Ericsson and Skanska trial IoT for Smart Buildings

Skanska, the world leading project development and construction group, has initiated an Internet of Things (IoT) trial with Ericsson for Skanska Commercial Development Nordics.

 Read Full article »
Skanska started the workings at Campus 6, its newest project locally

The official ceremony joined local officials, such as Gabriel Mutu, mayor of bucharest's sixth district, Aurelia Luca, Country Manager Skanska Property România, Katarzyna Zawodna, Business Unit President Skans

 Read Full article »
Deloitte Romania: learning and career development, high up on the business and HR agenda

Driven by the frequent change of the professional competencies required to perform at work, lack of experienced candidates and employee's desire to develop professionally continuously, learning and career devel

 Read Full article »
Softelligence to hire 100 by end-2018

Romanian business software company Softelligence recently announced it plans to hire 100 developers by the end of next year in its software engineering office in Craiova.

 Read Full article »
Cosmin Pătlăgeanu, Marketing Manager, Luxoft România is the new president of ABSL

The Association of Business Service Leaders in Romania (ABSL) announces the naming of Cosmin Pătlăgeanu, Marketing Manager, Luxoft România as the organization's new president.

 Read Full article »
PIN MAP IASI: The first business map of Iasi is launched

After a team effort of over half a hear, the team of The PIN Map project announced it is launching the first map of the offices in Iasi - PIN Map Iasi (www.pinmapiasi.ro), within a press conference hosted by Ia

 Read Full article »
UiPath Automation Academy RPA-certified 500 users in April

One year ago, UiPath offered RPA free for individual users, education projects and small to medium businesses. UiPath Community Edition has been a great success, and their Community Forum now hosts a growing nu

 Read Full article »
 
MOST RECENT VIDEO
 
 
MOST READ ARTICLES
» PIN MAP IASI: The first business map o...
» Softelligence to hire 100 by end-2018
» Cosmin Pătlăgeanu, Marketing Manager...
» A look ahead: How artificial intellige...
» Deloitte Romania: learning and career ...
» UiPath Automation Academy RPA-certifie...
» SoftOne Romania becomes operational hu...
» Romanian Outsourcing Awards for Excell...
» Romanian Outsourcing Awards for Excell...
» Alten opens a delivery center in Iasi
 
EDITOR CHOICE
TELUS International Europe: Three ways travel and hospitality contact centers can localize the customer experience

Flight delays. Booking or check-in problems. Regional, cultural and linguistic differences. The travel and hospitality business can be a perfect storm for contact centers offering both added challenges and uniq

 Read Full article »
Romanian Outsourcing Awards for Excellence 2017 applauds its Winners!

Outsourcing Today, the integrated communication platform of the business services sector and The Diplomat – Bucharest is honored to praise its winners awarded at The Third Edition of Romanian Outsourcing Awar

 Read Full article »
Romanian Outsourcing Awards for Excellence 2017 - Finalists Announcement

Outsourcing Today, the integrated communication platform of the business services sector and The Diplomat – Bucharest, present the Third Edition of Romanian Outsourcing Awards for Excellence, on May 11, 2017

 Read Full article »
TELUS International Europe: Turning a satisfied customer into a loyal customer – Q&A with a hospitality expert

Leonardo Inghilleri literally wrote the book on customer service in the hospitality industry - and an international bestseller at that.

 Read Full article »
Romanian Outsourcing Awards for Excellence designates the industry winners on May 11

Outsourcing Today, the integrated communication platform of the business services sector, presents the Third Edition of the annual Romanian

 Read Full article »
Latest News  
 
about us | newsletter | contact | members area
Copyright © 2015 by Diplomat Media Events Design by Diplomat Media Events