Graphisoft Park earnings grow with increased occupancy

Telco

Graphisoft Park, a listed company that owns and operates a business park in the north of the capital, had after-tax profit of €2,237,000 in Q1-Q3, up 35% from the same period a year earlier as occupancy grew, an earnings report published late yesterday shows.

Graphisoft Parkʼs revenue increased 18% to €7,145,000 during the period.

Occupancy rose to 97% in Q3 from 90% in the same period a year earlier.

The company noted that management software company SAP, the parkʼs largest tenant, had renewed its contract in the first half of 2015 and said further expansion was warranted. Graphisoft Park plans to add 8,000 sqm of office space and an underground car park, with the first phase of the expansion being completed by the beginning of 2017.

Graphisoft Park said it projects a 12% increase in revenue to €9.5 mln this year. It sees net profit climbing at the same pace to €2.7 mln, minus a one-off €500,000 for demolition and refurbishment work.

Next year, the company targets revenue of €9.4 mln and net profit of €2.7 mln. Revenue and profit are set to rise again after the planned expansion is completed, Graphisoft Park said.

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