Audited Results for the year to 31 December 2017

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \nRNS Number : 0525H Globalworth Real Estate Inv Ltd 08 March 2018  \n\nThe information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.\n \n8 March 2018\nGlobalworth Real Estate Investments Limited \n(\"Globalworth\" or the \"Company\")\nAudited Results for the year ended 31 December 2017\nFurther to its Business Update on 28 February 2018, Globalworth is pleased to release its Annual Report and Audited Consolidated Financial Results for the year ended 31 December 2017.  \nDimitris Raptis, Deputy Chief Executive Officer and Chief Investment Officer of Globalworth, commented: \"These results highlight the significant progress achieved by Globalworth in 2017 across the business, with the strengthened capital structure placing us in a strong position going into 2018. Our two markets, Romania and Poland, continue to offer above-average economic growth prospects and we see a strong backdrop of tenant demand.  By targeting the right sectors in the right markets, we believe we are well positioned to capitalise on the dynamic structural trends we are witnessing today. We are focused on our objective of establishing Globalworth as the region's leading office landlord and to build on our ambition of being the partner of choice for the wide variety of high-quality tenants in the region.\" \nOperational Highlights \n·   Completion of our strategic investment in Griffin Premium RE.. N.V. (\"GPRE\") in December 2017, resulting in a shareholding of 71.66%, at a price reflecting a discount of 20% to its last reported EPRA NAV per share. GPRE has now been fully consolidated into Globalworth's financial statements for the year ended 31 December 2017.  As announced on 28 February 2018, GPRE is being rebranded Globalworth Poland.  \n·     As at 31 December 2017, Globalworth's combined real estate portfolio[1] was valued at €1,815.4 million \n\n(31 December 2016: €977.5 million), comprising €1,135.3 million in Romania and €680.1 million in Poland via GPRE. Total annualised contracted rental income for the combined portfolio stood at €115.9 million (31 December 2016: €49.5 m...

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