The real estate developer and real estate investment company WING increased its revenue and EBITDA (earnings before interest, tax, depreciation and amortization) in 2024, according to an investor presentation published on the Budapest Stock Exchange (BSE) website on Monday.
The company increased its group-wide revenue from HUF 172.3 billion to almost HUF 198 billion last year, according to its unaudited accounts. EBITDA (earnings before interest, tax, depreciation and amortization) increased from HUF 23.1 billion to almost HUF 69 billion year-on-year.
According to the presentation, Wingholding Plc. and its subsidiaries make up the WING Group, the largest player in the Hungarian real estate market, with significant shares in Germany and Poland. Their activities cover residential, office, industrial, retail and hotel markets.
Last year, they generated rental income of HUF 37.1 billion, up from HUF 31.2 billion in the previous year. They reported a profit on investments of HUF 25.1 billion, after a loss of HUF 17.8 billion the previous year.
The value of the group's fixed assets rose from HUF 593 billion to almost HUF 742 billion, while total assets increased to HUF 1 435 billion.
With equity of HUF 311 billion in 2024, the group's long-term liabilities amounted to HUF 731 billion, while short-term liabilities reached almost HUF 392 billion.
WING has so far invested nearly HUF 800 billion in real estate development in Hungary, covering a total of around 1.4 million square meters of real estate.
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