Net profit of BIK more than doubled

Revenues of the BIK Group increased by 6% to PLN 13.9 million year-on-year in the first three quarters. At the same time, the net result more than doubled to PLN 5.9 million. This is a result of the completion and commissioning of two new facilities and profit on the valuation of investment properties.

The developer of modern warehouse and retail space in the first three quarters of 2018 reached PLN 13.9 million of consolidated revenues, which means an increase of nearly 6% year-on-year. The Group recorded an operating result of PLN 11.6 million, compared to PLN 3 million profit a year earlier. At the same time, The Group generated a net result of PLN 5.9 million, which is more than twice as much as in the corresponding period of the previous year (PLN 2.5 million plus).

During the first nine months of this year, the BIK Group increased its equity by 6.6% to PLN 100.5 million. On the other hand, the value of investment properties amounted to PLN 205.1 million, i.e. by 6.4% more than at the end of last year. The Group continues to attach great importance to the safe financing of new projects.

- This year's revenue growth was mainly driven by the completion and commissioning of two new investments, one in the warehouse and retail segments. The first one concerned the construction of a hall with an area of 11.5 thousand sqm in the Silesian Logistics Centre in Sosnowiec. The second investment commissioned was Galeria nad Potokiem in Radom with a total leasable area of 5.2 thousand sqm. The improvement of the net result was positively influenced by the profit achieved on the valuation of investment properties, which was partially consumed by negative exchange rate differences - said Mirosław Koszany, President of the Management Board of Biuro Inwestycji Kapitałowych S.A.

The BIK Group currently manages three logistics parks: Kraków I Logistic Centre, Kraków II Logistic Centre and Silesian Logistic Center in Sosnowiec with a total leasable area of 67.8 thousand sqm. As part of the diversification of its current business, the Group also builds and leases modern retail space in the retail park segment. Currently, the company's portfolio includes Retail Park Karpacka in Bielsko-Biała with a lease area of almost 7.0 thousand sqm and Galeria Nad Potokiem in Radom offering 5.2 thousand sqm of usable area.