Conwert Achieves Turnaround

Published: March 19, 2014; 22:23 · (Vindobona)

The Austrian real estate group returns to the profit zone. Last year, net income totaled € 49m.

Conwert Achieves Turnaround / Picture: © Conwert

Despite a sharp decrease in propert sales, conwert´s could leave the loss zone behind in 2013. Due to high write-offs, conwert´s results were negative in 2012. After a total loss of € 155m in 2012, net income reached € 49m last year. According to conwert´s management board, the pre-tax profit ranges between € 50m and € 55m. Funds from operations (FFO I) amounted to €…

This article includes a total of 119 words.

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AT0000697750