Diamond: Return to profitability by 2023; positive outlook

The company Dimand has returned to profitability and increased the fair value of its investment properties and joint ventures by 64% in 2023. The total portfolio developed and managed by the Group (as of December 31, 2023) includes 20 investment projects at various stages of completion in urban areas across Greece, utilizing spaces for offices, logistics, residential and hotel complexes, luxury residences, as well as mixed-use developments.

The fair value of the Group's real estate investments as of December 31, 2023, amounted to 167.5 million compared to 97.0 million as of December 31, 2022, while the fair value of investments in joint ventures reached 53.2 million euros compared to 37.3 million euros (a total of 220.7 million versus 134.3 million euros).

Dimand's operating profit last year was 18.4 million euros compared to 7.1 million, earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 19.2 million euros compared to 7.1 million, profit before income tax was 17 million compared to a loss of 5.1 million, and net profit was 13.2 million compared to a loss of 7.8 million euros. However, turnover decreased (9.4 million instead of 10.6 million).

According to the management of Dimand, positive results are expected and will strengthen in 2024.

Characteristic projects

In 2024, the Group is looking forward to the development and operation of projects such as the Piredn Tower, the country's first "green" skyscraper, new flagship PWC offices in Marousi, the first bioclimatic business park at the western gates of Thessaloniki, as well as commercial and office uses of the historic building of the former MINION department store in Omonia.

The company also plans to expand its portfolio by acquiring key assets, always ensuring the highest environmental standards for the developed projects.