euro adhoc: Meinl European Land Limited
Annual & Special Corporate
Meetings
Meinl European Land Limited - Invitation to 2nd Annual
General Meeting
Significant increase of turnover and operating profit
Property portfolio and value doubled (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Meinl European Land, the Vienna Stock Exchange listed real estate investment company with a focus on the property markets in Central and Eastern Europe, ended 2003 with excellent operational results. All key figures show a significant increase as the property portfolio doubled.
Significant increase of sales revenues and operating profit
Revenues increased by 50% in the reporting period and operating profit by 40%. This strong growth is a direct result of the massive expansion during the last 12 months. On an adjusted basis, the rental income from the properties in the ownership of the company at year-end 2003 for a full 12 month period has risen by more than 11 million Euro up to 18 million Euro.
Property portfolio and value doubled
The composition of the portfolio as well as property value mirror the dynamic expansion. As of today Meinl European Land owns almost 140 properties with a total book value of nearly 200 million Euro in Hungary and the Czech Republic; the total value as well as the number of properties increased by 100% against 2002.
Annual General Meeting on 3rd June 2004
The financial statements for 2003 will be presented on the forthcoming Annual General Meeting on 3rd June 2004 at 11.00 a.m. in the Radisson SAS Palais Hotel (Parkring 16, 1010 Wien). On the agenda of the AGM is also a resolution with respect to the increase of the authorized share capital. If approved, this will give the company the means for its continued expansion - in the last 12 months alone, Meinl European Land has invested more than 130 million Euro for the acquisition of additional properties with a high market potential.
end of announcement euro adhoc 14.05.2004
Further inquiry note:
ECC Publico Public Relations & Lobbying
Mag. Claudia Müller-Stralz
Tel.: ++43 (0) 1/717 86 107
mailto:claudia.mueller@ecc-publico.com
Branche: Real Estate
ISIN: AT0000660659
WKN:
Index: Standard Market Auction
Börsen: Wiener Börse AG / official dealing