GTCSA final results December 2016
GTCSA released their maiden final results. Revenue from rental activity came in at EUR114.3 million, gross margin from operations was EUR87.3 million, profit attributable to equity holders of the company was EUR158.5 million, while basic earnings per share was recorded at EUR34 cents per share.
Strategy and dividend policy
GTC's objective is to create value from active management of a growing commercial real estate portfolio in CEE and SEE, supplemented by selected development activities; and enhancing deal flow, mitigating risks and optimising performance through its regional platform, by investing its own funds, the proceeds from share capital increases and reinvesting potential proceeds from the sale of real properties. This leads to accretive funds from operations and provides for growing dividend potential.
Following the growth and results achieved in 2016, GTC is well positioned to recommend to distribute PLN 0.27/share from 2016 profits in the form of dividend. The dividend recommendation is guided by, among others things, the availability of cash, the funds from operations growth plans, the Company's capital expenditure requirements and planned acquisitions as well as the share of external financing in the Company's overall equity. GTC believes that the further realization of its growth strategy will provide for a double-digit dividend growth in the future, starting from 2017 onward.