We’re back on track! Half-year results show great progress

Holding in our hands the results of the first six months of 2021 (ok, mostly going through spreadsheets), we feel thrilled. After the never-ending pandemic months when we all worked hard with uncertain prospects, we’re seeing the numbers improving remarkably. They show that the set strategy of delivering workspaces focused on people and their needs helps us overcome challenges such as Covid, which was a big one for every single business out there.

Recovered leasing and projects in the homestretch

There are several reasons for the much better results in the first six months of 2021 compared to the first half of 2020. First, the leasing market has recovered, which helped us with the commercialisation of our assets. Our teams leased almost twice as much GLA in the first half of 2021 as all of 2020.

Second, we moved forward fast with construction on several projects. Bloom Clerkenwell in London, DSTRCT.Berlin and Nivy mall in Bratislava got close to their completions scheduled for the second half of 2021. (And you all know that Nivy mall is already open and recently welcomed its millionth visitor!)

Let the numbers speak

We closed the first half of 2021 with an operating profit of EUR 186.6 MM (mainly attributable to a revaluation gain of EUR 191.7 MM). The total comprehensive income resulted in EUR 167.3 MM, partially offsetting the negative impacts of last year. We’ve also increased our NAV to EUR 1.7 BN, compared to EUR 1.5 BN at the end of the year 2020.

Fingers crossed for the second half of 2021- not just for us, but for every company hit by these challenging months!

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