Pirelli Real Estate has reported revenues of EUR 812 mln for the first half of 2007, up 21% on the same period last year. Pre-tax earnings including net income from investments performed even better, up 36% to EUR 125 mln. Consolidated net income rose by 14% to EUR 80 mln, while group net equity and net asset value did not change significantly, at EUR 695 mln and EUR 1 bn mln respectively. Its service provider business and its technical services business (focusing on integrated facility and property management) both performed particularly well.
Pirelli Real Estate has reported revenues of EUR 812 mln for the first half of 2007, up 21% on the same period last year. Pre-tax earnings including net income from investments performed even better, up 36% to EUR 125 mln. Consolidated net income rose by 14% to EUR 80 mln, while group net equity and net asset value did not change significantly, at EUR 695 mln and EUR 1 bn mln respectively. Its service provider business and its technical services business (focusing on integrated facility and property management) both performed particularly well.
The Italian property giant reported that approximately 27% of its real estate portfolio is now invested outside of Italy - in Germany and Poland - which means it has already surpassed the target it had set in this respect for the end of 2008. The firm said that the half-year results mean it can confirm its forecasted 2007 growth will outperform the 10-15% targets set in its three-year plan for 2006-2008.
