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BIK happy with results

Eurobuild CEE 14 December 2017

POLAND Biuro Inwestycji Kapitałowych (BIK) is developing two warehouses, in Sosnowiec and Kraków, as well as a retail park in Radom.

“We are in the process of building a hall with an area of 11,500 sqm in Śląskie Centrum Logistyczne in Sosnowiec. We also have a building permit for the second facility with an area of 13,500 sqm, the construction of which is planned for 2018. We also have a permit for the construction of the Kraków III logistics centre located in the direct vicinity of an interchange of A4 motorway in Szarów. The construction of the project in Sosnowiec and Kraków will increase BIK’s warehouse area by a total of nearly 80 pct. As far as the retail segment is concerned, we are in the process of construction of a retail park in Radom, which will deliver 5,200 sqm. The completion of the project is planned for mid-March next year. The construction of the project will provide an increase of the retail area managed by BIK by app. 75 pct,” said Mirosław Koszany, president of the board at Biuro Inwestycji Kapitałowych. In the first three quarters of 2017 the developer had the consolidated revenue of over PLN 13.1 mln i.e. 4.5 pct more compared to the same period a year earlier. The Group generated a net profit which was 16.7 pct higher compared to the corresponding period a year earlier i.e. PLN 2.5 mln and it reduced its debt to 55 pct of its investment property value (59 pct at the end of last year). In the first nine months of this year BIK increased the value of its net assets (equity) by 2.5 pct to PLN 92.4 mln at the end of September 2017. Meanwhile the value of its investment property increased by 1.2 pct in this period, to PLN 186.8 mln. “The results are in line with the company’s assumptions. We expect further systematic and dynamic growth of the scale of our operations in connection with the execution of current and prepared projects. However, we will first of all focus on secure financing of the projects carried out in order to maintain appropriate proportions of the debt to group’s assets ratio,” adds Mirosław Koszany.

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