In the first half of the year, Appeninn Plc increased its turnover by more than 100 percent to EUR 9,093 million compared to the same period last year.

The Appeninn Group's adjusted operating profit for the first six months was EUR 4.72 million. The significant growth is driven by the strategic restructuring of the real estate portfolio, the company's domestic and foreign acquisitions and cost-efficient operations.

In April, Scope Ratings upgraded Appeninn's issuer credit rating from "B" to "B+" and its bond rating from "B-" to "B+", i.e. it recommends it for investment, and considers its creditworthiness and debt repayment capacity to be stable. The Appeninn Group has achieved significant growth in its commercial real estate portfolio thanks to significant acquisitions in the first half of 2023.

Györgyi Szűcs, CEO of Appeninn Nyrt., pointed out that their successful acquisitions, improving credit rating and doubled revenues indicate that they have built a solid foundation that will enable them to achieve their strategic goals and continuous growth in the longer term.

Appeninn shares are traded in the premium category of the Budapest Stock Exchange. The stock has reached a minimum of 133.50 forints and a maximum of 1173 forints in the past year.

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