Globe Trade Centre SA published its reviewed H1 2026 results, covering the six months to 30 June 2026, on 28 August 2026. The JSE notice carries the title Reviewed H1 2026 Results, 6 Months Period ended 30 June 2026, and the headline itself gives no figures. The company’s consolidated interim report, published in Warsaw the same day, does.
Reviewed results are unaudited figures that give shareholders and lenders a timely view of earnings, cash flow and balance-sheet health before the full-year audit. The interim report includes an independent auditor’s review report alongside the unaudited condensed financial statements.
What the company does
Globe Trade Centre (GTC) is not a South African warehouse developer. According to its interim report, the group operates commercial real estate in Central and South-Eastern Europe, with a primary focus on Poland and Budapest and on capital cities such as Bucharest, Belgrade, Zagreb and Sofia, where it acquires, develops and manages mainly office and retail property. Since 2024 it has also owned a residential-for-rent portfolio in Germany, currently about 5,100 flats. The company is listed on both the Warsaw Stock Exchange and the Johannesburg Stock Exchange, which is why its results appear on the JSE’s SENS feed.
The numbers in the interim report
- Revenue from operations for the six months was EUR 106.3 million, up from EUR 101.1 million a year earlier.
- Gross margin from operations rose to EUR 72.7 million from EUR 66.1 million.
- The group made a net loss of EUR 18.1 million, against a profit of EUR 0.5 million in the first half of 2025. Net revaluation losses of EUR 22.2 million and net finance costs of EUR 45.1 million weighed on the result.
- Net cash from operating activities was EUR 45.9 million.
- The completed commercial portfolio of 37 office buildings and six retail properties, about 722 thousand square metres, was 87% occupied at 30 June 2026.
- Cash and cash equivalents stood at EUR 34.0 million, down from EUR 107.2 million at the end of 2025, while total assets fell to EUR 2,951.7 million from EUR 3,268.1 million.
Investors should note that these are interim figures. The audited full-year results will follow later.
The JSE’s own SENS archive carries the reviewed results notice for readers who want the underlying statements. For related coverage of a different listed property company’s own disclosure, see this site’s report on Dipula Properties.
