
Last update at 2026-05-28T07:00:00Z
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Grit Real Estate Income Group First Half 2023 Earnings: EPS: US$0.01 (vs US$0.013 in 1H 2022)
Sun 26 Feb 23, 07:32 AMEstimating The Intrinsic Value Of Grit Real Estate Income Group Limited (LON:GR1T)
Sun 29 Jan 23, 09:05 AMThe past year for Grit Real Estate Income Group (LON:GR1T) investors has not been profitable
Tue 06 Sep 22, 10:14 AMGrit Real Estate Income Group's(LON:GR1T) Share Price Is Down 32% Over The Past Year.
Tue 03 Aug 21, 03:51 AM| Breakdown | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 |
| Income before tax | -67.96000M | -90.07400M | -21.34800M | 17.73M | -60.93100M |
| Minority interest | 3.18M | 4.45M | 1.94M | -0.67000M | 9.45M |
| Net income | -62.24400M | -84.49600M | -23.63100M | 10.44M | -61.37600M |
| Selling general administrative | 17.70M | 17.95M | 22.58M | 16.94M | 13.87M |
| Selling and marketing expenses | - | - | - | - | - |
| Gross profit | 58.55M | 51.61M | 46.62M | 42.11M | 40.67M |
| Reconciled depreciation | 1.17M | 1.17M | - | 0.68M | 0.72M |
| Ebit | - | -39.78800M | 20.46M | 60.34M | 26.85M |
| Ebitda | - | -38.61600M | 33.87M | 61.01M | -18.83200M |
| Depreciation and amortization | - | 1.17M | 13.40M | 0.68M | -45.68100M |
| Non operating income net other | - | - | - | - | - |
| Operating income | 40.97M | 30.79M | 20.46M | 60.34M | 26.85M |
| Other operating expenses | - | 33.19M | 32.27M | 26.76M | 22.37M |
| Interest expense | 59.80M | 50.29M | 39.58M | 26.15M | 25.44M |
| Tax provision | -2.53800M | -1.13200M | 4.22M | 6.62M | 0.45M |
| Interest income | 6.95M | 7.33M | 4.10M | 1.94M | 2.69M |
| Net interest income | -59.77200M | -48.65400M | -35.48600M | -24.21600M | -22.75200M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | - | -1.13200M | 4.22M | 6.62M | 0.45M |
| Total revenue | 72.25M | 63.98M | 56.25M | 50.77M | 49.22M |
| Total operating expenses | 31.28M | 20.82M | 22.65M | 18.10M | 13.82M |
| Cost of revenue | 13.70M | 12.37M | 9.62M | 8.66M | 8.54M |
| Total other income expense net | - | -120.86200M | -41.81300M | -42.60100M | -87.78000M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | -65.42200M | -88.94200M | -25.57300M | 11.11M | -61.37600M |
| Net income applicable to common shares | - | - | - | 10.44M | -51.92700M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 |
| Total assets | 1082.82M | 1054.40M | 907.69M | 937.22M | 810.71M |
| Intangible assets | - | 0.19M | - | 0.67M | 0.48M |
| Earning assets | - | - | - | - | - |
| Other current assets | - | 54.76M | - | 1.86M | 57.97M |
| Total liab | 738.44M | 697.08M | 574.07M | 567.84M | 532.30M |
| Total stockholder equity | 220.19M | 254.71M | 359.07M | 391.60M | 296.34M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | - | 93.06M | 15.36M | 44.31M | 10.46M |
| Common stock | - | 535.69M | 535.69M | 535.69M | 463.84M |
| Capital stock | 544.08M | 535.69M | 567.29M | 565.25M | 489.32M |
| Retained earnings | -371.21900M | -307.71000M | -218.34900M | -177.99000M | -176.07300M |
| Other liab | - | - | - | 49.59M | 51.72M |
| Good will | - | 2.21M | - | - | - |
| Other assets | - | - | - | 630.46M | 27.93M |
| Cash | 21.14M | 18.77M | 9.21M | 26.00M | 4.89M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 223.46M | 498.28M | 143.15M | 234.85M | 233.20M |
| Current deferred revenue | - | -5.59900M | - | - | - |
| Net debt | 554.05M | 522.08M | 436.93M | 430.25M | 427.55M |
| Short term debt | - | 391.65M | 81.42M | 185.70M | 197.90M |
| Short long term debt | 112.03M | 391.52M | 80.16M | 184.83M | 197.69M |
| Short long term debt total | - | 540.85M | 446.14M | 456.25M | 432.44M |
| Other stockholder equity | - | 26.73M | 10.13M | 4.34M | -16.91100M |
| Property plant equipment | - | - | - | 2.09M | 551.94M |
| Total current assets | 156.54M | 147.87M | 33.75M | 97.01M | 62.86M |
| Long term investments | - | - | - | - | - |
| Net tangible assets | - | - | - | 361.37M | 270.38M |
| Short term investments | - | - | - | - | - |
| Net receivables | 39.51M | 74.34M | 18.58M | 69.14M | 57.89M |
| Long term debt | 463.17M | 148.62M | 361.38M | 270.01M | 233.79M |
| Inventory | - | - | - | - | - |
| Accounts payable | 33.58M | 11.24M | 46.37M | 4.84M | 24.84M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | - | - | - | - | - |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | - | - |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | -18.40600M |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | - | 890.17M | 856.43M | 824.91M | 724.85M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 926.27M | 906.53M | 873.93M | 840.21M | 747.84M |
| Capital lease obligations | 0.52M | 0.71M | 4.60M | 1.41M | 0.95M |
| Long term debt total | - | - | - | - | - |
| Breakdown | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 |
| Investments | - | -7.30900M | 26.91M | -32.28100M | -2.13200M |
| Change to liabilities | - | - | - | -0.28100M | 0.70M |
| Total cashflows from investing activities | - | -7.30900M | - | -52.85300M | -1.53000M |
| Net borrowings | 9.64M | 40.00M | - | 25.64M | 9.49M |
| Total cash from financing activities | - | -3.48500M | -75.05100M | 63.78M | -9.92000M |
| Change to operating activities | - | - | - | - | - |
| Net income | -62.24400M | -90.07400M | -23.63100M | 17.73M | -60.93100M |
| Change in cash | 3.42M | 9.45M | -16.81400M | 21.83M | 7.94M |
| Begin period cash flow | 16.78M | 7.33M | 24.15M | 2.31M | -5.62900M |
| End period cash flow | 19.24M | 16.78M | 7.33M | 24.15M | 2.31M |
| Total cash from operating activities | 56.84M | 20.38M | 32.55M | 11.29M | 19.89M |
| Issuance of capital stock | - | 16.88M | 0.00000M | 85.99M | 9.81M |
| Depreciation | 1.17M | 1.17M | - | 0.68M | 0.72M |
| Other cashflows from investing activities | - | -16.92300M | - | 19.87M | 5.86M |
| Dividends paid | -1.50000M | 8.14M | 22.62M | 11.80M | 4.78M |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | - | -5.52100M | - | 1.83M | 0.19M |
| Sale purchase of stock | 0.00000M | -0.09800M | -0.09400M | - | 9.81M |
| Other cashflows from financing activities | - | -35.24500M | -0.43300M | 48.81M | 26.05M |
| Change to netincome | - | - | - | -1.37300M | 71.81M |
| Capital expenditures | 0.10M | 0.49M | 0.29M | 0.12M | 0.18M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | 20.43M | -10.52600M | - | 1.55M | 0.89M |
| Stock based compensation | 0.00000M | 0.09M | - | 1.24M | 0.13M |
| Other non cash items | 60.66M | 119.72M | - | -9.90200M | 28.73M |
| Free cash flow | 56.73M | 19.89M | 32.26M | 11.18M | 19.70M |
Sector: Real Estate Industry: Real Estate Services
| Company | Change (GBX) | Price (GBX) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| GR1T GRIT Real Estate Income Group |
-6.0885 99.00% | 0.06 | - | - | 0.45 | 0.21 | 8.33 | 12.71 |
| IWG IWG PLC |
-1.7 0.95% | 176.40 | 184.90 | 12.17 | 0.47 | 29.39 | 2.50 | 19.27 |
| SRE Sirius Real Estate Limited |
-1.1 1.14% | 95.30 | 8.27 | 12.77 | 4.80 | 1.01 | 8.63 | 11.67 |
| GRI Grainger PLC |
2.90 1.93% | 153.30 | 6.31 | 20.33 | 4.79 | 0.60 | 10.55 | 18.77 |
| SVS Savills |
10.00 1.22% | 827.00 | 16.69 | 9.62 | 0.44 | 1.50 | 0.49 | 5.45 |
Grit Real Estate Income Group Limited is the leading Pan-African real estate company focused on investing in, developing and actively managing a diversified portfolio of assets in carefully selected African countries (excluding South Africa). These high-quality assets are underpinned by predominantly US$ and Euro denominated long-term leases with a wide range of blue-chip multi-national tenant covenants across a diverse range of robust property sectors. The Company is committed to delivering strong and sustainable income for shareholders, with the potential for income and capital growth. The Company holds its primary listing on the Main Market of the London Stock Exchange (LSE: GR1T and a secondary listing on the Stock Exchange of Mauritius (SEM: DEL.N0000).
Unity Building, The Precinct, Grand Baie, Mauritius, 31301
| Name | Title | Year Born |
|---|---|---|
| Ms. Bronwyn Anne Knight B.Com., C.A. | CEO & Exec. Director | 1982 |
| Mr. Leon Paul van de Moortele C.A. | CFO & Exec. Director | 1976 |
| Marieke Pieterse | Head of Operations Mang. | NA |
| Mr. Oteng Keabetswe | Chief Investment Officer | NA |
| Mr. Darren Veenhuis A.C.A., B.Com., C.A., C.F.A. | Head of Investor Relations & Corp. Fin. | NA |
| Ms. Anouchka Chummun | Group Compliance Mang. | NA |
| Alex Mugambi | Head of Legal | NA |
| Ms. Corinne Robert | Head of Communications | NA |
| Leigh Varrie | Head of Marketing | NA |
| Ms. Aurelie Mallac | Head of Human Capital | NA |
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