With a large amount of projects in the permitting stage, Immobel is well positioned to continue on its growth path.
- First half-year financials have been mainly impacted by lower residential sales and reduced activity on construction sites during the lockdown with revenues at EUR 213.9 million, EBITDA at EUR 34.6 million and net profit group share at EUR 21.9 million.
- Since the end of the lockdown, recovery of residential sales experienced in every core market.
- Delivery of new head office for Allianz Benelux (Möbius I) and signing of lease agreement with ING for a major office project in the European quarter of Brussels.
- While permitting processes have also been impacted by the lockdown, a key catalyst for solid growth in the short term is a large number of new projects expected to be launched by the end of 2021 representing more than 4,000 apartments and houses (> EUR 1.5 billion in sales value).
- Moreover, with its solid cash position of over EUR 200 million and strong balance sheet, Immobel is well positioned to take further advantage of additional growth opportunities and ensure its long-term development.
- The company already acquired projects with a sales value amounting to EUR 480 million mainly in Belgium, Luxembourg and France growing the sales value of its portfolio by 8% to EUR 4.8 billion.
- Despite Covid-19, the company expects to maintain its dividend policy.
 EBITDA (Earnings Before Interest, Depreciation and Amortization) refers to the operating result before amortization, depreciation and impairment of assets (as included in Administration Costs).
 Total number of apartments and houses on 100% basis
 Sales value or gross development value: the expected total future turnover (Group Share) of the respective projects
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