21st Austria weekly - Warimpex, RBI (29/11/2024)

Warimpex: In the first three quarters of 2024, the Warimpex Group increased its total revenues excluding Russia by 13 per cent to EUR 15.7 million and achieved a positive operating result (EBITDA). However, measurement losses in connection with the sale of the Russian subsidiaries and property valuations outside of Russia as well as the negative financial result had a negative impact on the profit or loss for the period: All in all, this resulted in a loss of EUR 42.8 million. Due to the transaction in Russia at the end of October 2024 – and thus after the reporting date for the third quarter – Warimpex reported the Russian business activities as discontinued operations in the quarterly financial statements in order to present a transparent picture of the current earnings situation. “The sale of our projects at AIRPORTCITY St. Petersburg and thus the complete withdrawal from Russia were challenging, but necessary,” explained Warimpex CEO Franz Jurkowitsch. “By concluding this transaction, we are leaving significant uncertainties and risks in relation to the tense geopolitical situation behind us. Not least, it has also allowed us to reduce our financial liabilities, ensuring a lower interest burden in the future.”
Warimpex: weekly performance: -10.34%

RBI: Raiffeisen Bank International AG (RBI) has today closed the sale of Priorbank JSC to Soven 1 Holding, a deal which was announced in February 2024 and signed in September 2024. “This is an important step in our commitment to de-risking our exposure to Eastern Europe. At the same time, we are grateful to our colleagues at Priorbank for their commitment throughout the sales process, and for the excellent service delivered to our customers in Belarus since 2003," commented CEO Johann Strobl on the sale.
RBI: weekly performance: 3.42%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (29/11/2024)

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Bildnachweis

1. Nach Erwerb von Anteilen: Warimpex hält 100 % an der AIRPORTCITY St. Petersburg, Credit: Warimpex   >> Öffnen auf photaq.com

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