B-A-L Germany AG was able to continue its growth trend in the first half of 2020 (from January 1, 2020 to June 30, 2020). Housing stock increased by 19.4% from 67 to 80 units, and the corresponding living space increased by 34.8% from 2,781 to 3,749 square meters. Due to the significant increase in floor space, there was a parallel rise in rental income to 112,074 Euro (previous year: 74,190 Euro). This corresponds to a growth rate of 51%. Net profit, which in the previous year had been burdened with special expenses from the IPO, moved into the plus zone at 2,241.51 Euro.
Total assets now amount to 2.587 million EUR compared to 1.781 million EUR in the same period of the previous year (+45%). Overall, our business model can continue to operate robustly even during a pandemic, although difficulties arise in some cases when visiting new properties and in extended waiting times required for official processes. The Board of Management expects rental income to double during the current year, with a slight overall increase in the value of the portfolio.
In the further course of the year, we plan to raise debt and equity capital in the order of 3 million Euro. We currently have several investment opportunities at our disposal, which we intend to pursue in stages.
B-A-L Germany AG is still on track to pay a dividend for the 2020 financial year.
The Annual General Meeting 2020 will take place on September 18 in Meissen as a face-to-face event.