Electra Real Estate’s revenues in the second quarter of 2022 increased by a sharp rate of approximately 73.4% to approximately $86.1 million, compared to approximately $49.6 million in the corresponding quarter last year. The increase in revenues in the quarter was mainly due to a sharp increase in income from success fees (Promote) to approximately 69.3 million dollars compared to about 30.5 million dollars in the corresponding quarter last year.
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The net profit of Electra Real Estate in the second quarter of 2022 jumped by about 118% to about $58.8 million (about $58.5 million attributed to the shareholders), compared to about $26.9 million in the second quarter of 2021 (about $26.9 million The company’s balance sheet shows that the equity of Electra Real Estate, as of June 30, 2022, increased to approximately $376.4 million (of which approximately $373 million is attributed to the shareholders), compared to approximately $251 million as of December 31, 2021 (of which $247.2 million is attributed to the shareholders), and compared to approximately $168.6 million (of which approximately $163.3 million is attributed to the shareholders) as of June 30, 2021. The increase in equity is mainly due to the profit recorded in the period.
Main results of the first half of 2022
Electra Real Estate’s revenues in the first half of 2022 increased by a sharp rate of approximately 190% to approximately $200.1 million, compared to approximately $68.8 million in the corresponding half of last year. The increase in revenues in the first half was mainly due to a sharp increase in income from success fees (Promote) to approximately 151.3 million dollars compared to about $41.7 million in the corresponding half last year, as well as an increase in the company’s share of fair value adjustments according to the balance sheet value method and others to about $36.9 million, compared to about $11.7 million in the corresponding period last year.