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Globalworth Real Estate Investments Ltd said it expects that offices will continue to be a part of business life, as it reported a dip in revenue and an increased loss. The real estate investor focused on Central and Eastern Europe said pretax loss widened 37% to €84.6 million in 2024 from €61.5 million in 2023. Revenue fell 0.9% to €238.3 million from €240.4 million. Finance costs increased 41% to €80.6 million in 2024 from €57.1 million in 2023, while administrative expenses increased 13% to €18.0 million from €15.9 million. Pertinently, it reported a €24.6 million loss on disposal of investment property for 2024, much higher than €474,000 in 2023. Chief Executive Officer Dennis Selinas said: ‘Throughout 2024, Globalworth has successfully achieved key milestones aimed at strengthening our business and improving our financial profile. Our performance remained robust as we have continued to focus on core-business resilience by implementing our ’local landlord’ approach.’ Looking ahead, the company said: ‘For the year ahead, we stay cautiously optimistic, as we are witnessing positive signs from both a macroeconomic perspective and from the real estate markets that we operate in. Nevertheless, we are aware that trade frictions and geopolitical risks will continue to weigh on the prospects of Central & Eastern Europe economies.’ It added that it believed that offices ‘will continue to be an integral part of business life by bringing a sense of belonging to professionals across the world.’ Globalworth shares fell 1.1% to €2.64 each on Tuesday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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