Money Buzz! Europa

Tag: balance sheet

  • Globalworth net operating income increased by 6.5% to EUR 157.3 million

    Globalworth net operating income increased by 6.5% to EUR 157.3 million

    Globalworth net operating income increased by 6.5% to €157.3 million in 2020 and a total combined portfolio value which remained unchanged at €3.0 billion.

    The company took-up or extended / renegotiated 303.5k sqm of commercial spaces in portfolio of high-quality properties, representing c.25% of the total standing commercial GLA.

    The commercial occupancy remained high at 90.9% (91.7% including tenant options) as at year-end.

    Annualised contracted rent reached €183.4 million, of which 91.3% from office and industrial properties.

    Rate of collections for rents invoiced and due remained high at 99.0% for the year.

  • 50% of German companies expect major revenue drop in 2020

    50% of German companies expect major revenue drop in 2020

    According to data gathered by AksjeBloggen, nearly half of the German companies expect major revenue drop in 2020 due to coronavirus pandemic.

    More than 25% of them expect revenue declined by more than 50%.

    Coronavirus outbreak affected 92% of the German economy

    The DIHK survey conducted in March 2020 among 15,000 German companies showed that 23% of respondents expect profits drop between 10% and 25% due to coronavirus outbreak.

    Another 26% of businesses stated they would probably experience a revenue decrease between 25% and 50%. Only 3% of respondents believed the coronavirus is not going to affect their revenue at all. Statistics showed 2% of German companies expected their income to increase in 2020.

    The survey also revealed the coronavirus outbreak affected almost 100% of German businesses in the hospitality and travel industry. More than 90% of companies in the wholesale, transport and storage, retail and business-related services also significantly noticed the impact of the pandemic.

    Manufacturing, health management, and construction industry follow with 88% and 86% of troubled companies, respectively. Statistics show that 92.4% of the entire German economy is affected by the coronavirus outbreak.

    Two-thirds of German companies require emergency Government grants

    The coronavirus also influenced how German companies evaluate their future. According to the DIHK survey, 63% of them expected less demand for their products and services in the following weeks.

    Cancellation of orders ranked as the second-leading problem with a 48% share among respondents. The standstill of business activity, liquidity shortfalls, and reduced investments followed with 43%, 41%, and 38% share.

    The survey also revealed almost 70% of German firms found emergency government grants and reduced hours compensation as the most relevant support measures during the coronavirus outbreak. Another 60% of them require a cut of advance payments.

    Government and bank loans follow with 31% and 16% share of companies who preferer this type of support measures.