In 2018 Arricano has increased its net profit by 47.6%
On April 17, 2018, Arricano Real Estate Plc, a leading developer and network operator of shopping malls in Ukraine, published the consolidated financial results of the company for 2018.
The net assets value by the end of 2018 has increased by 80% and as of December 31, 2018 amounted to 94.0 million US dollars (compared to 52.2 million US dollars by the end of 2017).
Net operating income (excluding revaluation profit), compared to $ 17.6 million in 2017, has increased by 19% to $ 20.9 million.
At the same time, the total amount of net profit has reached $ 38.1 million, which is 47.6% more than in 2017.
In Arricano it is emphasized that the sustainable development of the company which is demonstrated by stable double digital growth of financial parameters for the fourth successive year, is a significant achievement, given the difficult social and economic situation in Ukraine.
Mykhailo Merkulov, CEO of Arricano, notes, “We are proud of the systemic results that our team provides. The changes, innovations and technologies that are being launched right now will allow Arricano in a few years to become completely another, technological company. Innovative approaches in management, marketing, technology allow us to show and use the hidden reserves of the market, increase corporate potential and convert it into business results. The coordinated work of our team by the implementation of the strategy, the development of consumer – seller – landlord ecosystem not only provide excellent financial results, but also change the rules of the game in the market, launching new trends, developing digital technologies, increasing customer satisfaction both in B2B, and in B2C segments. Many initiatives implemented by ArricanoTrust are based on trust and effective cooperation.
The team systematically develops Arricano facilities, creates in each facility a comfortable social space, enhances the positive customer experience of visitors, partners and tenants, improves tenant-mix, implements innovative marketing solutions, digitizes the space of the shopping malls, synchronizes online and offline communications both with consumers and with tenants.
According to the results of 2018, the occupancy rate of shopping spaces in Arricano shopping malls has increased by 1.05% (compared to 2017) and amounted to 99.70%. In 2018, 137 new lease agreements for 20,157 sq.m. of shopping spaces were signed.
The number of guests of Arricano shopping mall has increased by 6% in 2018 and amounted to 47.8 million visitors.
The total actual value of the company's portfolio has increased by 16.8% and amounted to $ 258.5 million as of December 31, 2018 (compared to $ 221.3 million in 2017).
As of December 31, 2018, the total amount of bank loans has decreased by 16% and amounted to US $ 36.3 million (compared to US $ 43.1 million in 2017). The total amount of loans for the reporting period has decreased by 2.23% to US $ 96.5 million.