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S&P Global Ratings affirms Akropolis Group’s BB+ credit rating with stable outlook following planned Galio Group acquisition
Globenewswire· 2025-09-24 05:55
Core Viewpoint - S&P Global Ratings has affirmed Akropolis Group's BB+ rating with a stable outlook for the fourth consecutive year, indicating confidence in the company's strategic acquisition of Galio Group and its potential to enhance financial stability and growth in the Baltic real estate market [1][2]. Group 1: Acquisition Impact - The acquisition of Galio Group is expected to increase Akropolis Group's property portfolio value by approximately 30%, rising from €1.1 billion to €1.4 billion [3]. - The number of income-producing assets will expand significantly from 5 to 60, which will reduce concentration risk and enhance portfolio diversification [3]. - Following the acquisition, shopping centers will constitute 73% of the total portfolio value, a decrease from the current 96%, indicating improved diversification [3]. Group 2: Financial Performance - Akropolis Group's consolidated rental income for the first half of 2025 reached €46.3 million, reflecting a 5.4% increase compared to the same period in 2024 [5]. - Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the same period amounted to €44.3 million, marking a 3.4% year-on-year growth [5]. Group 3: Market Outlook - S&P Global Ratings anticipates that Akropolis Group's operating fundamentals will remain stable over the next 12 months, supported by strong demand across all asset classes [4]. - The agency expects the company to achieve consistent growth in rental income and maintain high occupancy levels post-acquisition [4].