Good reports for Edgar: The FFO rose by 36% to NIS 29 million

by time news

The income-producing real estate company,


Edgar
+0.18%





Base:782.2

opening:797

Tall:797

low:775

change:184,356

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Reports revenues of NIS 66 million in the third quarter, compared to NIS 61 million in the corresponding quarter. The company stated that the increase is mainly due to the occupancy of Building C in the Edgar 360 project in Israel, an increase in revenues in Canada and Poland as a result of the acquisition of new properties, as well as an improvement in the average occupancy rates in Poland.

ה- NOI In the quarter, it amounted to NIS 62.3 million, an increase of 9.1% compared to NIS 57.1 million in the corresponding quarter last year.

ה- FFO In the quarter, it increased by 36.4% and amounted to NIS 28.8 million, compared with NIS 21.1 million in the corresponding period.

Cash flow was NIS 51.2 million, compared to NIS 45 million in the corresponding period last year. Cash flow is affected by the payment of semi-annual bond interest in the amount of NIS 16 million.

Forecast for 2022
The company updates the FFO forecasts for 2022, the company expects an FFO of NIS 110-115 million, compared to the previous forecast of NIS 105-110 million.

Roi Gadish, CEO of the company, said: “We continue to show growth in all operational parameters as we have shown in recent years, along with reducing financing expenses. We are pleased that the move we have promoted for the designation of additional areas for co-working spaces under the “Brain Embassy” brand is proving itself in light of market trends that support the continued growth of the field. We allow our tenants flexibility according to their needs, while reducing the rates of abandonment and the growth of the field is a source of attraction for new customers. “

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