30.11.2018, 1370 Zeichen

Warimpex: For Warimpex Finanz- und Beteiligungs AG, a real estate development and investment company, the third quarter of the current financial year was characterised by a solid operational performance and a further reduction of finance expenses. However, this positive development was dampened by currency effects in Russia. Consolidated revenues declined, due to the lower number of rooms resulting from the sale of part of the portfolio in the spring of 2017, from Euro 35.5 mn to 21.6 mn. Due to the lower earnings contribution from hotel revenues and the lack of gains from the disposal of properties in the current financial year, EBITDA also fell from Euro 31.8 mn to 4.4 mn. EBIT dropped from 45.5 mn to 4.2 mn. CEO Franz Jurkowitsch: “Along with the ongoing activities in our core CEE markets of Poland and Hungary, we are also evaluatingoptions in Western Europe and definitely see potential for acquisitions here – in one case, negotiations are already at an advanced stage. We consider 2018 to be a transition year following the sale of part of our portfolio last year, and expect a significant increase in revenues and an improvement in gross income for 2019 following the opening of the Ogrodowa office building in Łódź this year,”
Warimpex: weekly performance: -1.34%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (30/11/2018)

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