While sales revenue rose to a good 694 million euros (half of 2022: 645 million euros), the profit for the period fell to around 621 million euros, after 682 million euros in the previous half-year.
The important industry figure FFO (Funds From Operations) increased from 368.5 to around 397 million euros.
BIG was faced with higher maintenance and personnel costs, but the company was able to benefit from increased rental income and the continued increase in the value of the real estate portfolio. Earnings before taxes, interest and duties (Ebitda) rose by around 36 million to around 448 million euros compared to the same period last year. The operating result EBIT increased by 143 to around 837 million euros.
More than 2000 properties
BIG develops and owns properties in the area of public infrastructure as well as commercial and residential properties for private tenants. As of the end of June 2023, the group portfolio comprised over 2,000 properties with around 7.7 million square meters of rentable space and a value of around 16.8 billion euros.
BIG is 100 percent owned by the state holding company Öbag. In addition to federal administration buildings, schools, universities and prisons, the portfolio also includes residential, office and commercial properties.
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Source: Nachrichten