Meta Estate Trust, a holding company operating in the real estate sector, listed on the SMT - AeRO market of the Bucharest Stock Exchange under the stock symbol MET, has published the preliminary unaudited financial results for 2022. The company achieved total revenues of over RON 21.7 million in 2022, compared to RON 3.1 million in the previous year. Meta Estate Trust also reached its gross profit target announced in the single IPO on the BVB in 2022, amounting to approx. RON 7.2 million in 2022, while the net profit achieved was RON 6.5 million.
The company ended its first complete financial year since its establishment in March 2021 with a profit. Total assets reached RON 98.6 million at the end of the year, up 38% compared to the end of 2021 (RON 71.6 million), based on new investments with funds obtained primarily through capital increase operations and profits made.
"2022 was a challenging year, both geo-politically and economically, marked by high inflation and uncertainty, including in the housing market. Meta Estate Trust adapted quickly to the market context through the structure of new negotiated transactions and managed to perform during this period as well. The preliminary results published today are proof of an agile and resilient business model and sustained team efforts in meeting objectives", said Raluca Dragan, CFO Meta Estate Trust.
During the reporting period the company received the equivalent in RON of approx. EUR 8.9 million from exits made in 2022, exiting completely from 6 of the investment projects and partially from 5 others. The gross margin on exited investments before general expenses amounted to RON 8.9 million.
"We are pleased with the performance of 2022 and are confident in the company's ability to grow over the coming years. We have a well-diversified investment portfolio, acquired at very favorable prices, whose added value will be reflected in the company's future financial results. Our main objective is to continue to grow in the medium and long run," said Oriol Casellas Deig, CEO of Meta Estate Trust.
In terms of future plans, the company's strategy remains to diversify by expanding its presence in other real estate segments, in particular by adding income producing assets. Meta Estate Trust will continue to attract funds in the form of equity, bank loans or bonds issued to use in its business lines to create value for its shareholders.