(Sponsored) Banimmo - FY23 - A transition year
Rental income up 19% (above DPe) to EUR 5.8m. Occupancy rate improved to 90.6%.Net results land at EUR -6.2m, mainly due to EUR 4m portfolio revaluation and higher admin charges. Leverage grows to 34.7%.Pipeline remains on track and is progressing positively.Outlook 2024, rental income should reach EUR 6.8m in 2024eMore details in our Note published this morningBanimmo SA is a Belgium-based real estate investment company. The Company aims at acquiring and reconditioning undervalued commercial properties, such as retail space and shopping centers, exhibition and conference centers in Belgium and Luxembourg. Banimmo renovates the properties it acquires in order to maximize lease value and lower operating costs, looks for new tenants and then sells the properties to a final investor. Banimmo SA's property portfolio consists of properties in Brussels, Antwerp, Colombes, Zaventem, among others. Its investments include offices, retail space, hotel and conference centers as well as building plots, among others. Its portfolio includes the Snc Les Jardins Des Quais, approximately 52 acres in Namur and is thus a co-developer of an office project with Thomas & Piron.
We are an investment house with Belgian roots founded on more than 150 years of trust.
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