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Eastern Property Holdings Limited (EPH) announces 2016 Year End Results Donnerstag, 27. April 2017 - 19:15

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

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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

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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.