DGAP-News

CPI PROPERTY GROUP holds its course set - steady growth, successful acquisitions and decreasing cost of capital - Seite 3

refinancing with Erste bank. The hotels portfolio is mostly operated
under the brand Mamaison Hotels and Residences and represents a unique
collection of well-established luxury boutique hotels and all-suite
residences, mostly located in prime central locations of the CEE
capitals (Prague, Warsaw, Budapest, Bratislava and Moscow).

Financial highlights

Key figures

All the figures representing the profit and loss for Q3 2014 commented in
this press release relate to the pro forma presentation of the profit and
loss statement for the Company as if CPI PROPERTY GROUP and Czech Property
Investments, a.s. were combined as of 1 January 2013 ("PROFORMA"), except
if specifically specified otherwise.

Net rental income grew by 11% to EUR 155 million compared to the same
quarter last year. The increase was mainly driven by new acquisitions and
completed development projects in Q4 2014 as well as from the increase in
volume of services rendered to the third parties (increase by 58% to EUR 19
million). The decrease in operating result is driven namely by effect of
revaluation gain in 2014 amounting to EUR 97 million compared to EUR 10
million gain in 2015 and recognition of liability from contingent
consideration in 2015 in amount of EUR 12 million reflecting the expected
future settlement with the seller of the project that was acquired by the
Group in 2012. If these two one-off effects neglected, the operating result
shows solid growth of 13%. As a result the net profit for the period
amounted to EUR 69 million.

Total assets decreased by EUR 62 million (-1%) to EUR 4,157 million as at
30 September 2015. The foremost reason of decrease in total assets is an
effect of consideration for the acquisition of own shares which is
described in Corporate news. The increase in total assets is primarily
connected with the increase in the property portfolio which rose by EUR 95
million to EUR 3,648 million. After equity transaction as described in
Corporate news EPRA NAV decreased to EUR 1,703 million. As this transaction
was neutral on value per share, EPRA NAV per share increased from EUR 0.587
to EUR 0.619 reflecting a solid profit of EUR 69 million for the period
ended 30 September 2015.

For full Interim Report as of 30 September 2015, including Financial
Highlights, Pro-forma Income Statement, and Balance Sheet please refer to
our website at www.cpipg.com.


Contact:
Kirchhoff Consult AG
Sebastian Bucher
Herrengraben 1
D-20459 Hamburg

T [phone]
F [phone]
[e-mail]


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Language: English
Company: CPI PROPERTY GROUP
40, rue de la Vallée
L-2661 Luxembourg
Grand Duchy of Luxembourg
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.cpipg.com
ISIN: LU0251710041
WKN: A0JL4D
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Dusseldorf, Stuttgart


End of News DGAP News Service
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418121 27.11.2015