Meta Estate Trust, a holding company operating in the real estate sector, listed on the SMT – AeRO market of the Bucharest Stock Exchange under the stock symbol MET, obtained, during the first 9 months of the year, revenues of over RON 11 million following the completion of the investment cycle for some of the projects in its portfolio and recorded a RON 4.1 million profit.
The company thus announced the results for the first 9 months of 2022. Meta Estate Trust achieved total revenues of RON 11.3 million and a profit of RON 4.1 million, marking the transition from loss to profit in the first 9 months of activity. The proposed growth targets were financed by capital raising operations (in the amount of RON 20.8 million), the company having total assets of RON 95.8 million as of 30 September 2022.
“The projects in our portfolio have performed according to our expectations, despite the difficult and especially unpredictable context of the Romanian real estate market. The conflict in Ukraine, corroborated with the increased inflationary environment, has affected the demand for goods and services in Romania, including the type and source of financing transactions in the real estate market. In this context, we have been looking for investments at attractive prices and have managed to enter into interesting projects that have the potential to generate high returns”, declared Raluca Drăgan, CFO Meta Estate Trust.
According to her, the company is in an excellent liquidity situation, with more than 7 million euros available at the end of the third quarter for investments already under analysis in the Bucharest/Ilfov market, but also in other major cities in the country
Between January and September 2022, Meta Estate Trust placed over EUR 5 million in 7 investment projects, including 4 new projects in Bucharest, Ilfov and Brasov. At the same time, Meta Estate Trust received the equivalent in RON of approx. EUR 6.6 million from exits in the first 9 months of 2022, exiting completly from 4 of the investment projects and partially from 4 others. The gross margin on exited investments in January-September 2022, before general expenses, stood at RON 5.4 million.
“We are pleased to report to our shareholders the results achieved in the first 9 months of the year. These are a confirmation of the performance of our business model, which is proving resilient in a market context marked by inflation and rising interest rates. We are confident that we will continue to deliver performance for our investors in the coming period,” said Oriol Casellas Deig, CEO Meta Estate Trust.
The company is also preparing to launch a specialised real estate crowd-funding platform next year to capitalise on the growth potential of this industry and provide investors in this segment with a reliable alternative.
“We expect the crowd-funding platform to enable us to access a new profile of investors locally and abroad, who will be able to benefit from the superior returns that can be achieved in Romania through a method that is becoming increasingly popular around the world,” concluded Oriol Casellas Deig.