30 April 2018, Road Town, Tortola, BVI
Eastern Property Holdings Ltd (EPH), a real estate investment and development company with focus on Russia, the CIS and Europe, today announces audited 2017 year-end results:
- NAV of $37.43 per share - increased from $36.35 at YE2016
- Net loss for the period of $10.9 million compared to $70.5 million in 2016 is mainly a result of less foreign exchange losses
- Despite the loss generated by the Company in 2017, its net assets increased - mainly due to US$ 21.59 million positive Cumulative Translation Adjustment effect on the Company's net assets
- The Company's investment properties held at fair value are $874.8 million (31 December 2016: $765.4 million). The increase is mainly caused by the acquisition of 94% of Work Life Center office and retail property in Hamburg, Germany.
- Group's rental property portfolio is performing well and was able to show a positive operating result before taxes of US$11.7 million.
Our annual report, including full financial statements, is available on the company's website:
http://www.easternpropertyholdings.com/investors/reports.php
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CONFERENCE CALL WITH MANAGEMENT
Please join management for a conference call to discuss EPH's 2017 results today,
Friday, 4 May 2018 at 10:00 a.m. (CET)
Dial in: +41 58 262 07 22
Access Code: 272056
A presentation for the call will be posted on the company's website shortly before the call, www.easternpropertyholdings.com
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Eastern Property Holdings Ltd. is an investment company listed on SIX Swiss Exchange which holds interest in office, residential and retail properties. EPH is managed by Valartis International Ltd. a wholly-owned subsidiary of Valartis Group AG.
Additional information on Eastern Property Holdings is available by contacting Anna Bernhart Tel: +41 44 503 5400.
