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Conwert With Negative Result in Third Quarter
The Austrian real estate company announces positive results for the first nine months. Profits declined considerably, EBIT improved.
Conwert With Negative Result in Third Quarter / Picture: © Vindobona.org
conwert Immobilien Invest SE recorded a slightly negative result of € 4.3m in the third quarter of 2011 (previous year € 31.4m). However, in comparison with the previous year, the operating result (EBIT) improved significantly to € 19.4 m. As ECO Business Immobilien AG (“ECO”) was acquired below book value, a one-off profit of € 77.6m was realised in the comparable quarter…
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