Atrium European Real Estate announced its results for the year ended December 2019.

Group like-for-like net rental income increased by 2.4%, with the growth of 2.0% in Poland and 3.0% in the Czech Republic (excluding Russia and assets held for sale), reflecting a higher quality, more sustainable portfolio income profile
  
The market value of Atrium’s 15 income-producing properties in Poland is €1.7 billion  (2018: 22 properties, €2 billion), now representing 65% of its total €2.6 billion income-producing portfolios of 26 assets in CEE.

“Today’s results once again reflect the ongoing tangible success of the asset rotation strategy we have been executing over the last few years, providing us with a portfolio of faster-growing dominant assets focused in Warsaw and Prague, which continue to benefit from urbanization and a strong macro backdrop,” Liad Barzilai, Chief Executive Officer of the Group, commented.

He also announced the pillars of the evolved strategy.

“This strategy will build on our expertise, leverage the quality of our existing portfolio and the risk against potential volatility of our cash flow as we diversify into the residential for rent sector. This will see the shape of our portfolio evolve towards a platform of 5,000 high-quality residential units for rent, mainly in Warsaw, which will complement the leading retail destinations that we now own as a result of our successful repositioning strategy,” Barzilai added.

(WBJ)