Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Profits rise at The Atrium Group

European shopping centre owner The Atrium Group has reported an increase in profits after taxation to £84.4m in 2019, from £60.6m in 2018.

The business’s EBITDA decreased by 1.8% to £153.6m for the year ending 31 December 2019, compared to £156.4m in 2018.

Most of the group’s properties are in Poland and the Czech Republic, including Kings Cross Shopping Centre in Warsaw which was acquired by the group in June 2019 for €43m (£36m). 

Liad Barzilai, chief executive of Atrium Group, said: “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 urbanisation and a strong macro backdrop.

“As we move into a new decade and continue to respond to the structural trends that are driving consumer habits, including shopping and living, we will be executing our evolved strategy.

”This strategy will build on our expertise, leverage the quality of our existing portfolio and de-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 c. 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.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.