The real estate company Appeninn Nyrt saw revenues for 2018 rise from €4.9m rose to €7m, with its after-tax profit jumping to €16.4m. The latter were driven primarily by a significant rise in the company’s portfolio value. The rise in rental revenues was up 42 percent to €7m. When direct costs were subtracted from the company’s rental revenue minus the result also saw a hike of 20 percent to €4.2m. Appeninn Nyrt listed the market value of its properties at €117.8m and reported that its EBITDA exceeded €19m for the first time ever. The number of properties it owns rose from 18 to 41, meaning that its GLA now reaches 93,000 sqm. The company is focusing on the premium office segment and retail property markets in Hungary and CEE.
