HB Reavis Group (the Group) reported a 26% growth in consolidated net profit to €89 mln in the year to 31 December 2014 according to its recent annual financial statements. The improvement was a direct result of a strategic decision to increase the share of developments on the Group’s balance sheet, in combination with an enlarged exposure to higher margin projects and markets.
There has been significant improvement in return on shareholders’ equity at 10.8% vs 5.7% in 2013. Currently, the total shareholder equity amounts to €933 mln. Overall, there has been 29% growth in operating profit, which rose to €132.6 mln from €103 mln in 2013.
The group has seen record leasing activity across all markets with agreements signed for circa 139,000 m² of gross lettable area, representing an increase of 28% compared to 2013.
The group has eight office projects and one retail scheme in four countries under construction at the end of 2014, with a target gross development value in excess of €1 bln.
Source: HB Reavis Group