Warimpex Finanz- und Beteiligungs AG
euro adhoc: Warimpex Finanz- und Beteiligungs AG
Financial Figures/Balance
Sheet
Warimpex shows strong operative growth in financial year 2006
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
annual report
30.04.2007
|Key figures in EUR m |2006 |2005 |Change in %| |Gross Asset Value (GAV) |477.5 |296.0 |+ 61 % | |Triple Net Asset Value (NNNAV) |258.3 |172.6 |+ 50 % | | | | | | |Total revenues |58.8 |40.3 |+ 46 % | |Gains from the sale of project |6.3 |38.3 |- 84 % | |companies | | | | |EBITDA |30.8 |50.2 |- 39 % | |EBIT |22.8 |44.0 |- 48 % | |Profit for the year |21.2 |33.7 |- 37 % | | | | | | |in EUR | | | | |NNNAV per share |8.61 |5.75 |+ 50 % | |Earnings per share |0.70 |1.14 |- 39 % | |Proposed dividend per share |0.15 |0.13 |+ 15 % |
The Vienna-based Warimpex Finanz- und Beteiligungs AG posted massive growth in the financial year 2006, attributable to the rise in the number of existing hotels as well as the number of other real estate assets and development projects. The real estate portfolio was expanded from 14 to 20 properties in the reporting year, while ten further hotel projects were under development or construction at year end. Revenues were boosted by 46 % from EUR 40.3 million to EUR 58.8 million.
EBITDA declined by 39 % to EUR 30.8 million, while EBIT went down by 48 % to EUR 24.5 million. Net of gains from the sale of project properties, however, which are subject to annual fluctuations due to the lead-in time required for the development process, both key indicators showed a significant increase: adjusted EBITDA rose by 106 % from EUR 11.9 million to EUR 24.5 million, while adjusted EBIT climbed 195 % from EUR 5.6 million to 16.5 million.
Profit for the year went down - again primarily due to the lower gains from the sale of project companies - from EUR 33.7 million to EUR 21.2 million.
As of 31 December 2006, all existing real estate and development projects of the Warimpex Group were evaluated by CB Richard Ellis. The Gross Asset Value amounted to EUR 477.5 million, corresponding to a year-on-year increase of 61 %. The Triple Net Asset Value rose by 50 % to EUR 258.3 million.
Given the additional financial resources and its controlled strategy of expansion, the Management expects the Warimpex Group to continue delivering a commensurate level of growth. Furthermore, the numerous projects under development should continue to result in an over-proportionate increase in the Group's real estate assets as measured in terms of Triple Net Asset Value.
end of announcement euro adhoc 30.04.2007 08:30:00
Further inquiry note:
Warimpex Finanz- und Beteiligungs AG
Phone: +43 1 310 55 07-0
Christoph Salzer
mailto:presse@warimpex.com
Daniel Folian, mailto:investor.relations@warimpex.com
www.warimpex.com
Branche: Real Estate
ISIN: AT0000827209
WKN:
Index: ATX Prime
Börsen: Wiener Börse AG / official market