Globalworth Real Estate Investments Limited AIM:GWI
- Incorporated
- Guernsey
- Chief executive
- Roy Vishnovizki
- Reports in
- EUR
Read straight from the annual reports
1.5c at close on 8 Oct 2026 · 11 reported years, 2015–2025
| Line | FY201512/15 | FY201612/16 | FY201712/17 | FY201812/18 | FY201912/19 | FY202012/20 | FY202112/21 | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||
| Gross profit | — | — | — | — | — | — | — | — | — | |||
| Operating profit | ||||||||||||
| Exceptional items | — | — | — | — | — | — | — | — | ||||
| Net finance cost | ||||||||||||
| Profit before tax | ||||||||||||
| Adjusted profit before tax | — | — | — | — | — | — | ||||||
| Tax charge | ||||||||||||
| Profit for the year | ||||||||||||
| EBITDA | ||||||||||||
| Adjusted minus statutory PBT | — | — | — | — | — | — | ||||||
| Basic EPS | ||||||||||||
| Diluted EPS | ||||||||||||
| Adjusted EPS | ||||||||||||
| Dividend per share | — |
EUR millions, negatives in brackets. Per-share lines in cents, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
11 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
Globalworth Real Estate Investments Limited owns and rents out mainly office buildings in Poland and Romania. In 2025 its revenue slipped to €236.3m from €238.3m, but it made a profit after tax of €9.6m, against a loss of €81.6m the year before. The turnaround came mostly from a much smaller fall in the value of its buildings, a €15.0m write-down against €99.8m in 2024, and lower interest costs. Against that, a one-off €10.7m tax charge, from settling past tax audits in Poland, took a large bite out of this year's profit. The company ended the year with €410.6m in cash and €1.37bn of borrowings. It raised no new cash from shareholders. Dividends for the year totalled €0.14 a share, down from €0.21. Management expects investors to return to the region's property market in 2026, despite geopolitical risks. The auditor gave a clean opinion, and the directors expect the company to keep operating, pointing to its cash and no debt due within the next 12 months.
Contracted rental income from triple-net, Euro-denominated, index-linked office leases
80% of contracted GLA secured with triple net contracts; contracted rent €189.5m at 100% occupancy (2024: €187.5m)
page 13Service charge income recovery from tenants
Service charge income €80.6m (2024: €78.6m); recovery rate 84.5% Group-wide (Romania 94.6%, Poland 78.1%)
page 38Service charge recovery rate (Poland vacancy drag)
Poland recovery rate only 78.1% (2024: 83.2%) vs Romania 94.6%, due to vacant space being re-let; net service charge cost to Group rose to €13.0m (2024: €9.1m)
page 38Fair value loss on investment property narrowing
Fair value loss fell to €15.0m (2024: €99.8m loss), a significant improvement reflecting broader market stabilisation
page 39€10.7m charge: One-off tax charge from finalisation of prior-year Polish tax audits
page 39For the year ahead we are balancing our optimism with the responsibilities towards our stakeholders and communities; Globalworth has grown into a mature real estate leader applying the highest standards of sustainable development
page 1027 Feb 2026: Board approved an interim dividend of €0.05 per ordinary share for H2 2025 (paid 21 April 2026), with scrip alternative
page 130Policy is to distribute not less than 90% of EPRA Earnings semi-annually (per Articles of Incorporation). Interim dividends paid in 2025 totalled €0.14/share (2024: €0.21/share) with a scrip alternative offered at a 20% discount to the 5-day average price; a further €0.05/share interim dividend (in respect of H2 2025) was approved 27 Feb 2026 (post year-end)
page 118Directors adopted the going concern basis, having reviewed cash flow projections for 15 months from approval date, citing c.€411m cash resources, contracted rental income, available facilities and no debt maturing within 12 months. Auditor Ernst & Young Cyprus Limited issued an unqualified opinion; sole key audit matter was valuation of investment property (€2,642m)
page 85- Market conditions and the economic environment, particularly in Romania and Polandp.58
- Changes in the political or regulatory framework in Romania, Poland or the EUp.58
- Inflation in Romania and Polandp.58
- Execution of investment strategy / poor execution of acquisitions, development delays or cost overrunsp.59
Read from C000550-AR-2025-website.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Company website (10)
FY2026Next report expected 31 Mar 2027