The earnings are “pro forma” which show profit and loss according to the cost model and serve as the basis for Graphisoft Park’s dividend.
As the local form of a real estate investment trust (REIT), the company pays 90% of its pro forma earnings as dividends.
Rental revenue edged up 0.2% to EUR 8.69 mln. The occupancy rate at the park was 95% at the end of Q2, unchanged from the same period a year earlier, and still “significantly higher” than the Budapest office market average where the occupancy rate reached 87%.
In its forecasts for 2025, the company still expects only rental revenue of EUR 16.7 mln, which is approximately 3% lower than in 2024. It expects a net profit of EUR 7 mln from ordinary operations for 2025, which, supplemented by the result of the sale of a subsidiary may increase the total profit after tax to EUR 18 mln.
The estimated fair value of Graphisoft Park’s real estate portfolio stood at EUR 225.6 mln at the end of June, down by EUR 5 mln from the end of 2024.
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