New Amsterdam Invest (NAI) H2 2024 earnings summary

Executive summary

• Completed first full financial year, expanding portfolio to 7 properties across the UK and US, including the acquisition of Remington Square in Houston for €40.7 million.

• Net rental income reached €7.6 million, with a profit after tax of €5.2 million, and total property value at €129 million as of year-end.

• Interim dividend paid for the first time; company office relocated in Amsterdam to support growth.

Financial highlights

• Rental income increased to €11.1 million in 2024 from €4.6 million in 2023, reflecting a full year of operations and portfolio expansion.

• Net rental income rose to €7.6 million (2023: €3.7 million); operating result was €9.4 million (2023: -€4.8 million).

• Net profit for 2024 was €5.2 million, compared to a loss of €4.8 million in 2023.

• Revaluation gains on investment property totaled €3.5 million, reversing prior year losses.

• Total assets increased to €136.3 million (2023: €84.5 million); equity at €54.7 million.

Outlook and guidance

• Net rental income for 2025 is projected at €11.7 million, with stable operating expenses and a forecasted pre-tax operating result of €5.1 million.

• Company plans to finance future acquisitions with a 50/50 split between equity and borrowings.

• No major changes expected in personnel structure for 2025.