AFI Europe Romania operating income up 8.1 pct in Q1

Newsroom 20/05/2015 | 13:54

AFI Europe Romania announced on Wednesday the financial results for Q1, period which generated a net operating income of nearly EUR 9 million, representing an 8.1 percent increase compared to Q1 2014. The increase was driven mostly by the two new office buildings AFI Park 2 and AFI Park 3.

AFI Palace Cotroceni in Bucharest, the largest and most important asset of AFI Europe Romania, generated in Q1 2015 a net operating income of EUR 7.4 million, representing a 1.3 percent increase compared to Q1 2014.

The shopping center was evaluated at EUR 401 million at September 30, 2014.

AFI Palace Cotroceni retailers’ sales, except for the hypermarket, increased by 9.3 percent in Q1, compared to the same period of 2014. At the same time, AFI Palace Cotroceni occupancy rate increased to 99 percent.

As regarding the net operating income of AFI Palace Ploiesti, this amounted to over EUR 1 million in Q1 2015, while retailers’ sales increased by 21.7 percent compared to the same period of 2014. Ploiesti mall’s current degree of occupancy is 99 percent.