ECO Business Reports Losses

Western Europe › Germany ♦ Published: November 12, 2011; 12:42 ♦ (Vindobona)

The Austrian real estate company, which is listed at Vienna Stock Exchange, announces losses for the first nine months of € 6.8m.

ECO Business Reports Losses / Picture: © Vindobona.org

ECO Business, which is a subsidiary of the Austrian real estate group conwert, had to report losses for the first three quarters of 2011. The group´s net results went down to € 6.8m, after profits of € 9.3m in the reference period of 2010.

The main reason for ECO Business´ losses are write-offs amounting to € 12.7m. Moreover, rental income decreased from € 41.1m to €…

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