Immobel achieves EUR 75.1 million EBITDA and EUR 56.8 million net profit - a record performance
- Immobel more than doubled its revenues in 2018 to EUR 326.1 million while its EBITDA and net profit reached a record level of EUR 75.1 million and EUR 56.8 million respectively, good for an increase in net profit per share from EUR 1.26/share to EUR 6.47/share.
- Immobel exceeded its 2018 acquisition target by almost 90 % by adding 189,200 m² of mostly residential projects to its portfolio in Belgium and Luxembourg.
- The company’s balance sheet remains strong, with equity of EUR 344.7 million and net debt of EUR 341.1 million as at the end of 2018, resulting in a gearing level of 50 %. This position gives it the necessary financial leeway for further growth and diversification of earnings.
- 2019, 2020 and 2021 are expected to deliver strong results based on its existing pipeline and European expansion strategy.
- For the 2018 financial year, the board of directors of Immobel is confirming an increase of 10 % in the dividend at EUR 2.42 per share.
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