66% return growth for Unirea Shopping Center in 2012
The turnover of Unirea Shopping Center (SCDM), the owner of the commercial centres with the same name in Bucharest and Brasov, increased with 5.4% last year to approx. EUR 18.6 million (82.8 million lei), and the profit went up to EUR 1.3 million (5.8 million lei), with a 66% growth.
In 2011, the company reported turnover of 79 million lei and a return of 3.5 million lei. In euro, the growth of the business was 0.3% in 2012 and the profit 58% according to the financial report sent on Monday to Bucharest Stock Exchange, Mediafax tells.
The company’s revenues registered a slightly increase last year, from 85.5 million lei to 86.6 million lei, while the expenses went down from 80 million to 79 million. The revenues from renting totalized over 71 million lei.
The company owns the commercial centre Unirea Shopping Center in Bucharest, with 39,000 sq. m rentable area. At the end of last year the occupancy rate was 86%.
The commercial centre in Brasov has a rentable area of 16,800 sq. m, with 88% occupancy rate.
The company also owns a parking near the commercial centre in Bucharest, with 939 parking places. The average rent for Bucharest mall is 32 EUR/sq. m/month, while for Brasov is 17 EUR/sq. m/month
Unirea Shopping Center had at the end of 2012 bank debt of 63 million lei, comparing to 83 million lei in 2011.
The company is controlled by Dan and Carmen Adamescu, through The Nova Group Investments Romania, which owns 74.16% shares. The shareholders include also SIF Muntenia (SIF4), with 10% shares, while 15.8% is owned by other shareholders. (sursa: wall-street.ro)