CEE Lucky quarter for Nepi
Investment & financeschedule 16 November 2023
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Nepi Rockcastle’s net operating income rose 23 pct in the first nine months of 2023 to EUR 365 million, versus the same period of 2022. The main drivers of the strong performance were a combination of tenant sales performance and the contribution of the acquisitions completed in 2022.
The three acquisitions made in 2022 – Forum Gdansk and Copernicus shopping centres in Poland and the 50 pct share of the Ploiesti Shopping City in Romania – contributed EUR 28 million to the NOI for 9M 2023. On a like-for-like basis, NOI increased by 14 pct in 9M 2023, driven by higher base rents, turnover rents and short-term income, as well as a better recovery of operating costs (93 pct in 9M 2023 versus 91 pct in the same period of 2022).
Tenant sales (LFL, excluding hypermarket
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