Conwert: Profits in 2012 Negatively Effected

Professional Services › Real Estate ♦ Published: March 21, 2013; 10:46 ♦ (Vindobona)

Target EBT of € 50m was met. Revenues dropped by 26.7 % y/y from € 852.9m to 625.1m. Earnings before tax amounted to € 154.6m. Outlook: conwert plans to gradually expand core business in Germany and Austria.

Conwert: Profits in 2012 Negatively Effected / Picture: © Vindobona.org

“In the past year, conwert set important strategic and operating milestones for further growth,” said Johannes Meran, Chairman of the Administrative Board of conwert. “We cleaned up our balance sheet in the course of refocusing our strategy and created a solid basis for the further development as a portfolio manager of residential properties in Austria and Germany with a long-term…

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