Warimpex Finanz- und Beteiligungs AG

Warimpex generates best annual results since initial public offering - Seite 3

Outlook
Thanks to all of these positive developments, Warimpex is in a solid position for the current financial year. The company expects a significant reduction of interest costs over the medium term due to the early redemption of bonds and the elimination of project loans. On the basis of selective purchases and construction progress, the company is confident it will reach the same portfolio volume it had before the sale of the hotel holdings by the end of 2019. Warimpex will continue to focus on the diversification of its markets and its portfolio in the future.

Key financial figures for 2017 at a glance:

EUR '000	2017	Change	2016
Hotels revenues	27,509	-47%	51,864
Investment Properties revenues	13,190	54%	8,580
Development and Services revenues	1,668	-5%	1,757
Total revenues	42,367	-32%	62,201
Expenses directly attributable to revenues	-21,955	-39%	-35,967
Gross income from revenues	20,412	-22%	26,235
Gains or losses from the disposal of properties	26,575	206%	8,674
EBITDA	33,605	57%	21,45
Depreciation, amortisation, and remeasurement	21,098	392%	4,285
EBIT	54,704	113%	25,735
Earnings from joint ventures	2,590	-	-1,156
Profit for the year	40,496	77%	22,862
Profit or loss for the period (shareholders of the parent)	40,542	133%	17,423
Net cash flow from operating activities	12,002	-7%	12,958
Segment information
(including joint ventures on a proportionate basis):
Hotels revenues	58,864	-28%	81,773
Net operating profit (NOP)	15,685	-38%	25,134
NOP per available room	9,317	2%	9,109
Investment Properties revenues	17,354	81%	9,614
Investment Properties EBITDA	13,862	98%	6,987
Development and Services revenues	2,767	19%	2,321
Gains or losses from the disposal of properties	26,575	194%	9,050
Development and Services EBITDA	18,096	1,04%	1,589
	31.12.17	Change	31.12.16
Gross asset value (GAV)	202.5	-41%	343.3
in EUR millions
NNNAV per share in EUR	2.4	26%	1.9

(end)