HB Reavis Group (the “Group”) reported solid consolidated net profit of EUR 107.5 million in the year to 31 December 2016 according to its latest annual consolidated financial statements. Despite the challenging political environment in Europe, influenced chiefly by the UK referendum on the EU, the Group achieved record level of project completions, maintained strong leasing performance and advanced with its development programme.
Our 2016 results confirm that our geographically diversified presence and integrated delivery model proved to be resilient despite the political uncertainties that impacted the property market. Thanks to the strong performance of our team, we have delivered the largest area of commercial space (137,000 sqm) in our history. The ultimate proof of the quality of our products can be seen in the discerning organisations and global brands which chose to invest significantly in our buildings. Solid leasing performance meant about 10,000 employees found a ‘new home’ in an HB Reavis building last year. With net leverage at around 17.4% for the Group, HB Reavis started the New Year in an extremely strong financial position. The team is looking forward with huge enthusiasm to continuing work on our flagship developments in Warsaw (Varso Place), Budapest (Agora) and Bratislava (Stanica Nivy shopping centre).