Graphisoft Park Profit Rose 18% y.o.y.

Office Market

Image by graphisoftpark.com

Net profit of Graphisoft Park, which owns and operates a business park in the north of Budapest, rose 18% year-on-year to EUR 4.31 million in Q1-Q3, the company said in an earnings report released on the website of the Budapest Stock Exchange.

Rental revenue rose 6% to EUR 11.590 million. 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 dividend. Graphisoft Park's occupancy rate reached 98% in Q3.

The estimated fair value of Graphisoft Park's real estate portfolio stood at EUR 232.795 mln at the end of September.

Graphisoft Park targets rental revenue of EUR 15.4 mln and net profit of EUR 5.6 mln for 2022.

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