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Inovalis Real Estate Investment Trust (T:INO.UN)

Business Focus: Office REITs

Sector:  Real Estate Industry:  Commercial REITs
 
Company Contact
Address: 151 Yonge Street, 11th Floor
TORONTO ON M5C 2W7
Tel: N/A
Website: https://www.inovalisreit.com
IR: See website
Key People
Stephane Joseph Amine
President, Chief Executive Officer
Khalil Hankach
Chief Financial Officer, Chief Investment Officer, Secretary
Anne Smolen
Chief Financial Officer - Europe
Business Overview
Inovalis Real Estate Investment Trust is a Canada-based real estate investment trust. The Company is formed for the purpose of acquiring and owning office properties primarily located in France, Germany and Spain. It holds approximately 13 assets. Its France properties include Sabliere, Baldi, Delizy, Gaia, Metropolitain and Arcueil. Its Germany properties include Trio, Kosching, Neu Isenburg, Stuttgart, Bad Homburg and Duisburg. Its Spain property is Delgado. It acquires (indirectly) real estate properties via CanCorPEurope, authorized Alternative Investment Fund (AIF) and managed by INOVALIS S.A.
Financial Overview
For the nine months ended 30 September 2023, Inovalis Real Estate Investment Trust revenues increased 18% to C$27M. Net income increased 40% to C$5.9M. Revenues reflect FFO per Share (Diluted) increase of 54% to C$0.21, Other revenues increase from C$98K to C$2.6M, Rental revenue increase of 7% to C$19.9M. Net income benefited from Net Operating Income (NOI) - Total increase of 24% to C$22.9M.
Employees: 300 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $239.96M as of Sep 30, 2023
Annual revenue (TTM): $35.32M as of Sep 30, 2023
EBITDA (TTM): $19.01M as of Sep 30, 2023
Net annual income (TTM): -$35.16M as of Sep 30, 2023
Free cash flow (TTM): $4.62M as of Sep 30, 2023
Net Debt Last Fiscal Year: $198.25M as of Sep 30, 2023
Shares outstanding: 32,594,711 as of Jan 25, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization