Eastern Property Holdings Limited (EPH) announces 2016 Year End Results
April 27 2017 - 1:15PM
Eastern Property Holdings Limited (EPH) / Eastern Property
Holdings Limited (EPH) announces 2016 Year End Results . Processed
and transmitted by Nasdaq Corporate Solutions. The issuer is solely
responsible for the content of this announcement.
27 April 2017, Road Town,
Tortola, BVI
Eastern Property Holdings Ltd
(EPH), the real estate investment company, today announces audited
2016 year-end results:
- NAV of $36.35 per share - increased from $35.54
at YE2015
- Net loss for the period of $70.5 million is
mainly a result of foreign exchange losses of US$85.1 million which
are partially overlapped by the positive change in cumulative
translation adjustment in the amount of $67.1 million (reflected
directly in the equity)
- The Company's investment properties held at fair
value are $761.6 million (31 December 2015: $661.8 million). The
increase is mainly caused by acquisition of 94% of CityGate office
and retail property in Stuttgart, Germany. The value of the
remaining portfolio of the Group decreased by only less than 2% and
was able to show a positive operating result before taxes of more
than US$7 million if not considering the impact from currency
fluctuations.
- In December 2016, the Company issued 4,635,890
ordinary shares and sold it on the market. As a result of this
share issue and taking into account 2016 financial results, the
Group's equity increased to $363.03 million
(31 December 2015: $189.01 million).
Our annual report, including full financial
statements, is available on the company's website:
http://www.easternpropertyholdings.com/investors/reports.php
*******************************************************************************
CONFERENCE CALL WITH MANAGEMENT
Please join management for a
conference call to discuss EPH's 2016 results today,
Friday, 12 May
2017 at 3:00 p.m. (CET)
Dial in: +41 58
262 07 22
Access Code:
714753
A presentation for the call will be
posted on the company's website shortly before the call,
www.easternpropertyholdings.com
*******************************************************************************
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.
EPH announces 2016
Results
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
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
--- End of Message ---
Eastern Property Holdings Limited (EPH)
Valartis Asset Management SA Geneva Switzerland
WKN: 250817;ISIN: VGG290991014;
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