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CPI Property Group Reports Strong Q3 2024 Financial Results
On November 29, 2024, CPI Property Group unveiled its unaudited financial outcomes for the third quarter of 2024, showcasing robust operational performance. CEO David Greenbaum highlighted the group's advancement in capital structure and liquidity. The Group's total assets stood at €21.7 billion, with EPRA NRV at €6.8 billion, and its property portfolio valued at €18.6 billion.
Notable achievements include a 3% increase in net rental income to €627 million and a consolidated adjusted EBITDA of €594 million. The net Loan-to-Value ratio improved to 50%, and available liquidity was €2.1 billion. Disposals continue, with €440 million set to close soon, aligning with the Group's strategy to enhance credit ratings.
The Group's occupancy rate maintained at 91%, despite macroeconomic challenges. Looking forward, CPIPG intends further disposals and strategic adjustments to optimize its capital and corporate structure.
R. H.
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