- In Like-for-Like terms, the evolution of gross income has been 29% even though the average occupation of operating assets has decreased by 4% during the period
- Increases the Gross Asset Value (GAV) by 10.9% during the first six months of the year to 715.1 million euros
- Strengthens its portfolio with the acquisition of a newly built 4-star hotel in Menorca
Madrid, October 29, 2021. SILICIUS Real Estate, SOCIMI specialized in the management of long-term properties with stable rents, has improved its gross income by 33.6% compared to the same period of time of the previous year, reaching 14.2 million euros. In turn, net income has experienced an increase of 26.2% to 10 million euros.
The SOCIMI (Spanish REIT) has experienced robust growth in the long-term rents of its portfolio thanks to the agreements reached with relevant tenants. In addition, the progressive opening of hotels and shopping centres has favored this upward evolution.
During the first half of the year, it has intensified its commercial activity with the signing of 34 new rental contracts of its assets. In addition, it has formalized the acquisition of a four-star hotel, newly built, in Menorca, and has signed a long-term operating agreement with Barceló Hotel Group, which will operate this establishment under the Barceló Nura brand.
With this operation, SILICIUS has strengthened its portfolio of assets, which is formed as of June 31, 2021 by 45 properties, diversified into up to six categories: 28% in hotels, 25% in shopping centres, 19% in retail, 18% in offices, 9% in residential and 1% in logistics. By location, Madrid (46%), Baleares (12%), Cataluña (11%) and the Murcia (11%) concentrate the majority of assets. The average occupancy of assets stands at 86%.
At the end of June, the Gross Asset Value (GAV) has increased by 10.9% to €715.1 million, compared to €644.8 million at the end of 2020. Thanks to the improvement in the valuation of the portfolio, Earnings Per Share (EPS) reached 1.55 euros during the first half of the year, after an increase of 408.6% compared to the same period of time of the previous year.
Moreover, gross debt stood at €232 million at the end of June, with a Loan to Value of 30.7%, 7.1% more than at the end of the previous year. The average interest rate is 1.68%, with an improvement of two tenths compared to the previous figure (1.70%).
SILICIUS debuts at BME Growth. After the close of the first half of the year, SILICIUS Real Estate began trading on the BME Growth trading segment of BME MTF Equity on 23 September 2021, with an exit price of €15.40 per share for a total valuation of €556 million.
After reaching this milestone of starting trading, SILICIUS maintains an active management and marketing strategy aimed at obtaining long-term leases with solvent tenants in order to guarantee high occupancy levels, generating a stable and sustained cash flow.