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GTCSA final results December 2018
Rental revenue increased to EUR110.5 million (2017: EUR91.1 million)and gross margin from operations was higher at EUR111.6 million (2017: EUR92.1 million). Profit for the year attributable to equity holders of the company lowered to EUR91.2 million (2017: EUR156.3 million). In addition, basic earnings per share dipped to EUR19 cents per share (2017: 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 optimizing 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 2018, GTC plans to distribute (upon approval of Annual Shareholder Meeting) PLN 0.37 / share from 2018 profits in the form of dividend subject to Annual Shareholder Meeting decision. The dividend 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.