Skip to main content

EPH European Property Holdings PLC Profit Warning – EPH expects a Loss for the 1HY 2022 compared to a Profit in the previous year

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

12 September 2022, Nicosia, Cyprus I Ad hoc announcement pursuant to Art. 53 LR

EPH European Property Holdings PLC (“EPH”, the “Company”) would like to announce that the Company excepts a loss between 30 – 40 million for the first half year 2022, compared to a profit of 9 million for the same period a year earlier.

Consistent with our published outlook regarding the military conflict in the Ukraine published on 07 March 2022, market conditions have remained challenging. Sanctions imposed against and by Russia have changed the operating environment, particularly with regards to imports/exports, currency conversions, capital controls and operations of international companies. Although, EPH’s assets continue to operate independently as they did before, the Company expects a loss in the range of EUR 30-40 million compared to previous year. This result is driven by an impairment of the Russian portfolio – so far mainly due to the use of more conservative valuation assumptions to reflect the negative changes and uncertainty on the current market. However, the strong rouble appreciation against EUR offsets the losses from the fair value adjustment. The net asset value is therefore expected to increase from EUR 475 million to EUR 590-600 million.

The above stated figures in relation to the first half year 2022 are preliminary and are still subject to finalisation of the Company’s financials. The unaudited results for the period will be published by 30 September 2022. No further information on the Group’s business performance will be released until then.

_____________________________________________________________________________________________________

EPH European Property Holdings PLC is an investment company listed on SIX Swiss Exchange. Additional information on EPH European Property Holdings PLC is available by contacting Anna Bernhart Tel: +41 44 503 5400 or at contact@europeanpropertyholdings.com.

Attachment

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.