BIK Group improves net asset value
The developer of modern warehouse and retail space achieved consolidated revenues of PLN 19.2 million in 2018, which means an increase of over 8% year-on-year. The Group recorded an operating profit of PLN 10.3 million, which is almost eight times more than the year before (it was PLN 1.3 million). At the same time, it generated a net profit of PLN 2.1 million, compared to PLN 4.5 million in the previous year.
Over the twelve months of last year, BIK Group also increased the value of its equity by 2.6% to PLN 96.7 million. In turn, the value of investment properties amounted to PLN 112.4 million and was about 40% lower than at the end of the previous year. „The decrease in the value of investment properties is a consequence of finalized transactions. It results from the conclusion of preliminary sale agreements for two logistics parks with a total value of approximately PLN 90 million. As a result, these assets were reclassified from investment properties to non-current assets held for sale” - said Mirosław Koszany, President of the Management Board of Biura Inwestycji Kapitałowych S.A.
The company also plans to implement new logistics projects. The main one is the construction of a new center near Wrocław (BIK Park Wrocław I), which will provide approximately 47,000 m2 of modern warehouse space. Biuro Inwestycji Kapitałowych also intends to expand its Retail Park offer