Excellent financial performance in the nine months of 2024 was recorded by LAMDA Development according to its announcement.

In particular, according to the announcement, the company noted:

– New all-time EBITDA profit record for Marines at €16m, up 14% over 2023

– Significant increase in EBITDA profitability for The Ellinikon Project to €31 million, together with almost €1 billion in proceeds from property sales from the start of the project until 31.10.2024, already exceeding the target set for the end of 2024

– 483% increase over 2023 in Adjusted Net Results

– Total pre-tax profits of €173m (€0.98 per share) from the 3 recent land sales transactions in the Hellinikon Project, of which only €39m have been recognized to date.

Commenting on the financial results of Nine Months 2024, the Managing Director of LAMDA Development, Mr. Odysseas Athanasiou stated: “All the Group’s business sectors continue their upward trajectory in the Nine Months 2024. The Shopping Centers in operation, as well as the Marinas, continue to create new profitability records. At the same time, the total proceeds from real estate sales in the Hellinikon Project are already approaching €1 billion, having exceeded the €900m target, two months ahead of our target for the end of the year. Sales of residential developments continue at a dynamic pace, with reservations in the Little Athens neighborhood reaching 85% of available apartments for sale. The progress of construction work is now visible on all fronts, while we expect an intensification of the pace of work in the coming quarters, despite the difficulties of the construction market.”

See the announcement in detail here.