Bank of Cyprus Credit Ratings and Financial Position
REMU: Asset disposals steady qoq
Organic sales of €43 mn in 1Q2023
Organic sales € mn (contract prices¹)
#161
#212
#139
#162
#138
Organic sales consistently close to Open Market Value; comfortably
above Book Value
119%
114%
113%
112%
107%
51
94%
48
43
42
43
88%
90%
86%
91%
1Q2022
2Q2022
3Q2022
4Q2022
1Q2023
# properties
Organic sales
REMU stock reduced to €1.05 bn as at 31 March 2023
Group BV (€ bn)
#3,388
#2,860
#2,594
#2,510
1Q2019
1Q2020
Net proceeds to BV
1Q2021
1Q2022
1Q2023
Gross proceeds to OMV
Properties sold exceed properties acquired since 2017
Group BV (€ mn)
1.47
1,412
1.21
1.12
c.80% of Open
Market Value
(1,577)
1,438
1.05
(19)
(204)
1,050
Dec 20
Dec 21
Dec 22
Mar-23
# properties
1) Amounts as per Sales Purchase Agreements (SPAs)
1 Jan 2017 Additions
Sales
Transfer
to/from
own
Impairment
31 Mar 2023
& FV loss
properties
27View entire presentation