Edison Investment Research - Property - Globalworth Real Estate: A strong FY18 performance for FY18 included a full-year earnings contribution from Globalworth Poland and good underlying progress from the existing portfolio. The results appear consistent with our recently published multi-year forecasts, which we will review in detail in the coming days. These look for strong future growth from adding value to existing assets and further developments, against a positive operating environment in Romania and Poland. Not included in those forecasts were potential further accretive acquisitions although Globalworth Real Estate (GWI) continues to evaluate a strong pipeline of opportunities. To fund investments, including acquisitions and the planned elimination of the Globalworth Poland minority interest, GWI intends to issue up to €500m of additional equity capital.
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