Eastern Property Holdings Limited (EPH) announces 2017 Year End Results

Monday, 30. April 2018 00:17

Eastern Property Holdings Limited (EPH) / Eastern Property Holdings Limited (EPH) announces 2017 Year End Results . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

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.




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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Eastern Property Holdings Limited (EPH) via Globenewswire

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Eastern Property Holdings Limited (EPH)
Valartis Asset Management SA Geneva Switzerland

WKN: 250817;ISIN: VGG290991014;


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