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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
Tel: N/A
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 six months ended 30 June 2023, Inovalis Real Estate Investment Trust revenues increased 41% to C$20.8M. Net income totaled C$4.6M vs. loss of C$10.7M. Revenues reflect FFO per Share (Diluted) increase from C$0.12 to C$0.36, Rental revenue increase of 23% to C$14.9M, Other revenues increase from C$39K to C$2.6M. Net Income reflects Net Operating Income (NOI) - Total increase of 48% to C$18.1M.
Employees: 300 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $301.51M as of Jun 30, 2023
Annual revenue (TTM): $37.15M as of Jun 30, 2023
EBITDA (TTM): $20.06M as of Jun 30, 2023
Net annual income (TTM): -$21.56M as of Jun 30, 2023
Free cash flow (TTM): $3.93M as of Jun 30, 2023
Net Debt Last Fiscal Year: $202.45M as of Jun 30, 2023
Shares outstanding: 32,576,445 as of Sep 15, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization