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21 - 08 - 2020
GTC is a property group operating in central and Eastern Europe. The company has properties in Poland, Bucharest, Budapest, Belgrade, Sophia and Zagreb. It manages 46 buildings with 750 000 square meters of office space and it has a pipeline of 340 000 square meters of additional retail and office space. The company is listed on the Warsaw Stock Exchange (WSE) and the JSE. In its results for the 6 months to 30th June 2020 the company reported occupancy of 94% and a loan-to-value ratio of 46%. The company made a loss after tax of 34m euros and had cash of 142m euros at the end of the period. Post-COVID19 the company had a footfall of 72% and occupancy of 92% July 2020 sales were 86% of July 2019 and the company's collection rate was 91%. Unfortunately, the share on the JSE is extremey thinly traded which makes it impractical for private investors.
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