GTC reports mixed H1 2025 results amid portfolio adjustments

Globe Trade Centre S.A. (GTC) announced its H1 2025 results, reporting a 9% increase in rental revenues to €101m, up from €93m in H1 2024. However, FFO I decreased to €23m from €36m in the prior year, resulting in FFO per share of €0.04. The gross margin from rental activity saw a slight rise to €66m. The company's Net LTV stood at 51.8%, an improvement from 52.7% at the end of 2024, with cash and deposits totaling €125m.

GTC actively managed its portfolio, leasing nearly 55,000 sqm of commercial space and maintaining an 86% occupancy rate for its commercial income-generating portfolio. Strategic moves included strengthening financial liquidity through the sale of office buildings and land plots, and securing new financing, notably a €100m refinancing loan for Galeria Jurajska and an €84m senior loan for Galeria Północna. The company also exercised an option to acquire non-controlling interests in its German residential portfolio.

As of 30 June 2025, the total book value of GTC’s property portfolio, including non-current financial assets, was €2,903.8m. Completed commercial buildings, including 38 office and 6 retail properties, represented 70% of the portfolio value with an 86% occupancy rate across approximately 727,000 sqm of GLA.