on Grand City Properties S.A., (ETR:GYC)
Grand City Properties S.A. Records Modest Q1 2025 Growth
Grand City Properties S.A. reported a 1% rise in net rental income for Q1 2025, reaching €106 million. The growth was buoyed by a 3.8% like-for-like rental increase, despite asset disposals during the period. Adjusted EBITDA also rose by 3% to €85 million, reflecting enhanced operational efficiency.
The company achieved net profit doubling to €88 million, while earnings per share increased to €0.35 from €0.17. A 0.6% property revaluation on a like-for-like basis contributed positively.
GCP's liquidity remains strong with €1.7 billion in cash and assets and maintains a conservative financial stance with 32% LTV and €6.3 billion unencumbered assets. However, the credit rating was reduced to BBB by S&P in April 2025.
For 2024, no dividends will be recommended as the company focuses on financial stability and leverage reduction.
R. H.
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