Malta, September 30, 2016: solidare real estate holding plc («solidare») (MT0000580101 / A1JGT0 / SRH) closed the first half of 2016 with positive earnings. In the first half year, ending 30 June 2016, the company, which specializes in the highly promising market for micro apartments, generated a net profit of EUR 4.3m.
“Solidare’s first mid-year report as a listed company is another milestone on the road to becoming the leading “go-to place” for micro apartments,” explained Zeki Yigit, CEO of solidare.
Since the operating assets of solidare real estate holding GmbH were acquired below their current value, solidare realized a profit of EUR 4.7m, resulting in a consolidated profit of EUR 4.3m during the reporting period. Due to the takeover at the end of the first half year 2016, the operational business did not contribute to the result yet.
As of June 30, 2016, solidare has a balance sheet total of EUR 67.5m, 74% of which was represented by their real estate portfolio of EUR 49.9m. These assets are reflected by EUR 45.1m in Equity and EUR 12.8m in financial debt.
The entire half year report is available at www.solidare.de, Investor Relations.
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