In This Article:
Park Street A/S – Interim Financial Report, 1st half of 2024
Copenhagen, 30 August 2024
in the first half of 2024 is DKK 6.5 million (1st half of 2023: DKK 21.8 million). Net sales were DKK 82.3 million as compared to DKK 83.4 million in the 1st half of 2023. The reduction in EBVAT was primarily driven by an increase in financial expenses (+DKK 15.0 million) offset by operating expenses (-DKK 2.6 million) and other external expenses (DKK 3.6 million). Finance cost have been increased as up to last year it was capitalized.
Group’s equity as of 30 June 2024 was positive at DKK 928 million. Net asset value decreased to 16.2 per share as compared to 19.1 per share in the 1st half of 2023. The decrease is primarily due to capital reduction of 135 million.
The Board of Directors of Park Street A/S discussed and today approved the company's Interim report 2024, which contained the following:
The period in outline
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Profit for the Period (after tax and valuation adjustments) is DKK 2.9 million for the 1st half of 2024 (1st half of 2023: DKK 1.2 million).
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Park Street achieved EBVAT in the first half of 2024 is DKK 6.5 million (1st half of 2023: DKK 21.8 million). Net sales were DKK 82.3 million as compared to DKK 83.4 million in the 1st half of 2023. The reduction in EBVAT was primarily driven by an increase in financial expenses (+DKK 15.0 million) offset by operating expenses (-DKK 2.6 million) and other external expenses (DKK 3.6 million). Finance cost has been increased as up to last year it was capitalized.
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Group’s equity as of 30 June 2024 was positive at DKK 928 million. Net asset value decreased to 16.2 per share as compared to 19.1 per share in the 1st half of 2023. The decrease is primarily due to capital reduction of 135 million.
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Cash flows from operating activities for the 1st half of 2024 were DKK 20.3 million (1st half of 2023: DKK 12.8 million). The Increase is due to higher operating capital (DKK 13.4 million as compared to -DKK 9.2 million in the same period last year) offset by higher financial expenses paid (DKK 37.2 million as compared to DKK 22.5 million in the same period last year). Cash flows from investing activities for the 1st half of 2024 were DKK 74.3 million (1st half of 2023: -DKK 36.1 million). They were significantly Higher as compared to last year due to DKK 282 million sale of investment properties in the Current year, offset of DKK 72.6 million spent on improvements to investment properties across the portfolio and purchase of treasury share of DKK 134.9 million in the 1st half of 2024. Cash flows from financing activities for the 1st half of 2024 were -DKK 101.5 million (1st half of 2023: DKK 28.2 million). The decrease in cash flows primarily driven by DKK 101.6m repayment of liabilities to credit institutions Current year.