New Amsterdam Invest Reports €2 Million Profit in First Half of 2024

2024-08-30 community

Amsterdam, Friday, 30 August 2024.
New Amsterdam Invest N.V., a commercial real estate company listed on Euronext Amsterdam, announced a €2 million profit for the first six months of 2024. The company reported rental income of €4.5 million and net rental income of €3.4 million, showcasing robust performance in the European real estate market.

Strategic Acquisitions Announced

In addition to the strong financial results, New Amsterdam Invest N.V. has unveiled its latest strategic acquisitions aimed at expanding its investment portfolio. The company is focusing on key European cities, leveraging their strong market presence to secure high-potential commercial properties. This move is part of their wider growth strategy, which seeks to enhance their footprint in lucrative urban markets.

Focus on High-Potential Urban Markets

The newly acquired properties are located in some of Europe’s most dynamic and economically robust cities, including Amsterdam, London, and Berlin. These acquisitions are expected to drive significant rental income and capital appreciation, aligning with the company’s objective of running commercial activities such as owning, developing, and letting out commercial real estate.

Financial Performance and Future Projections

New Amsterdam Invest’s half-year financial report reflects a profit before taxes of €1.3 million, excluding revaluation results. With a net result attributable to shareholders standing at €1.9 million, the company has also forecasted a profit before tax of €2.2 million for the full year 2024. This optimistic outlook is supported by the company’s robust portfolio and strategic acquisitions.

Shareholder and Market Confidence

Shareholders have shown strong support, approving an interim dividend for 2024 with an expected yearly payout ranging from 4.5% to 6.5% of equity value. The total investment property value stands at €80 million, with total equity at €46 million and a solvency ratio of 52.7%. This financial stability has bolstered market confidence, reflected in the company’s stock performance on Euronext Amsterdam.

Key Dates and Future Announcements

The company has outlined important dates for future financial disclosures. The interim financial report for the first half of 2024 was published on 29 August 2024, and the annual results for 2024 are scheduled to be released on 16 April 2025. These reports will provide further insights into the company’s ongoing performance and strategic initiatives.

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