Globalworth increases interim profit amid "resilient" global economy
Globalworth Real Estate Investments Ltd on Tuesday said pretax profit rose in the first half of 2026, as the global economy proved "resilient" to shocks triggered by the Middle East war.
The office landlord active in Central and Eastern Europe reported a 51% increase in pretax profit to EUR32.0 million from EUR21.2 million a year earlier.
Revenue rose 3.6% to EUR119.9 million from EUR115.7 million.
Operating costs rose to EUR51.5 million from EUR48.7 million, while administrative expenses increased slightly to EUR9.9 million from EUR9.8 million.
Globalworth recorded a fair value gain on investment property of EUR7.7 million, compared with a loss of EUR1.7 a year earlier.
The company paid a dividend of 5 euro cents per share during the period, down from 9 euro cents in the first half of 2025.
Adjusted like-for-like normalised earnings before interest, tax, depreciation and amortisation amounted to EUR58.4 million, unchanged from a year earlier.
Globalworth said the energy shock caused by the war in the Middle East "materially changed the outlook" defined at the beginning of the year.
However, it said that the global economy had proven "more resilient than feared," despite a halt in the previous disinflation trend and uneven growth across countries.
Globalworth said: "While European Union forecasts have been revised downwards, with part of the recovery postponed to 2027, the Central and Eastern Europe region remains a bright spot, albeit with clear geographic divergence. We are seeing mixed trends in the two markets in which we operate: Poland is leading growth alongside the Czech Republic and Croatia, while Romania is experiencing a slowdown closely linked to fiscal consolidation measures and energy market dynamics."
The company said its strategy was focused on improving the efficiency of its core businesses, preserving value and maintaining a proactive financial policy.
Globalworth shares were up 3.9% to EUR1.73 on Tuesday afternoon in London.
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