LAMDA Development SA (LAMDA) Q1 2024 earnings summary

Executive summary

• Revenue for Q1 2024 reached €141.7 million, a significant increase year-over-year from €48.2 million.

• Group operating result (EBITDA) rose to €40.2 million from €8.0 million in Q1 2023.

• Net profit attributable to equity holders was €0.6 million, reversing a loss of €21.4 million in the prior year period.

Financial highlights

• Total assets increased to €4.23 billion as of March 31, 2024, up from €4.15 billion at year-end 2023.

• Net Asset Value (NAV) per share was €8.04, stable from €8.02 at year-end.

• Cash and cash equivalents rose to €545.4 million from €464.1 million at year-end.

• Adjusted net total debt decreased to €1.82 billion from €1.89 billion at year-end.

Outlook and guidance

• The Group restructured its Alternative Performance Measures to better reflect its position after recent developments in shopping malls and the Ellinikon project.