angielski > polski Inne Finanse (ogólne)

Currency Translation Effects and Depreciation hamper IMMOEAST's quarterly results

IMMOEAST's results for the first quarter of the 2008/09 business year (1 May 2008 to 31 July 2008) were negatively influenced by currency translation effects and depreciation of the real estate portfolio. Despite the positive development of the company's operating business, these resulted in negative results for the reporting period.

EBITDA reached EUR 33.7 m. In an adjusted comparison (without additional income from the sale of properties and stakes in properties in 2007/08), EBITDA for the first quarter rose 28.2 percent to EUR 33.7 m from EUR 26.3 m in the first quarter of the previous year. Cash flow rose by a similar amount, up 40.2 percent from EUR 18.2 m to EUR 25.5 m. Revenue also rose strongly by 35.9 percent from EUR 62.3 m to EUR 84.69 m.