BVB-listed real estate investment company posts five times higher profit in H1 2023
Meta Estate Trust (BVB: MET), a Romanian real estate investment company listed on the Bucharest Stock Exchange's AeRO market, reported revenues of over RON 6.3 mln (EUR 1.27 mln) in the first half of 2023, up by 60% compared to the same period of last year, and a gross profit of RON 3.4 mln, five times higher than in H1 2022.
The company collected about EUR 3.4 million from transactions by exiting 2 investment projects completely and 4 other projects partially. At the same time, it invested over EUR 4.8 million in 8 investment projects, including 4 new projects in Bucharest, Constanța and Brașov.
Currently, the company has outstanding investments in 22 real estate projects across the country, and its total assets went up to over RON 100 mln (EUR 20 mln) at the end of June 2023.
"In a challenging market context, Meta's business model has proven successful. We have recorded increased financial results in the first half of 2023 over the same period last year," said Alexandru Mihai Bonea, CEO of Meta Estate Trust.
The company's medium-term objectives are to reach an asset portfolio of EUR 100 million, to achieve a return on equity of more than 15% and to be listed on the Main Market of the Bucharest Stock Exchange.
(Photo source: the company)