IMMOBEL continues in its international growth and confirms its dividend increase of 10 %

IMMOBEL continues in its international growth and confirms its dividend increase of 10 %
  • IMMOBEL’s revenues in the first half of 2018 increased by 77 % to EUR 97.7 million while its net income (Group share), amounted to EUR 15 million.
  • The results for the first half of 2018 show strong growth driven by increased residential sales. This trend is expected to continue in the second half of 2018.
  • The sale of an office building in the centre of Warsaw (Cedet) is expected to contribute significantly to the results for 2018.
  • IMMOBEL has already exceeded its 2018 acquisition target by 30 % by adding more than 130,000 m² of mainly residential projects in Belgium to its portfolio. This was achieved through the acquisition of a stake in the development company Urban Living Belgium, as well as 5,700 m² of offices in Luxembourg.
  • The company’s balance sheet remains strong, with equity of EUR 302.7 million and net debt of EUR 308.4 million as at the end of June 2018. This position gives it the necessary financial leeway for further growth and diversification of earnings.
  • For the full year 2018, IMMOBEL is confirming an increase of 10 % in the dividend.
     

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