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Echo Investment presents the results of 2013

Q22, the new investment of Echo Investment in Warsaw
Q22, the new investment of Echo Investment in Warsaw
The net profit of Capital Group Echo Investment amounted to ca. 331 million zloty in 2013.

According to the company’s announcement, the operating revenues of the group amounted to 527.87 million zloty, whereas the total value of the assets increased by 14% in comparison to 2012 and amounted to 6224 million zloty. At the end of last year, Echo Investment owned over 356 million zloty in cash.

 

The biggest revenues were achieved in the segment of shopping centres (about 302 million zloty). In the second place, there was the residential segment (over 113 million zloty) and in the third - the office and hotel segment (almost 104 million zloty).

 

In the letter to shareholders, partners and customers, Piotr Gromniak, the president of the management board, informs: This was yet another very good period in the history of our company. In 2013, the company Echo Investment achieved fully satisfying financial results. Consolidated net profit amounted to 331 million zloty, and equity - to 2765 million zloty, which in comparison with the state at the end of December 2012 means an increase by 13.7 per cent. The President also draws attention to the low level of indebtedness of the company and the high amount of cash.

 

The past year will be remembered as an exceptional one in the history of our company because of two reasons - most of all, in 2013, when Galeria Amber in Kalisz was completed, the total usable area of our projects exceeded the symbolic amount of 1 000 000 sq. m, emphasises Piotr Gromniak. Another reason is the beginning of construction works of 155-metre high office block Q-22 in Warsaw, one of the largest and the most modern of our existing projects. And this is one out of 11 investments. We were very active in the office sector - the construction works of office blocks West Gate in Wrocław, Tryton Business House started, as well as the 2nd stage of A4 Business Park in Katowice. We sold the buildings of Aquarius Business House in Wrocław, adds the President.


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