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Warimpex: First-Quarter Loss Widens
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The Austrian real estate company’s loss increased from € -0.7m to € -3.0m in the first quarter of 2011. EBIT fell from € 2.9m to € -0.3m.
Warimpex: First-Quarter Loss Widens / Picture: © Warimpex
Consolidated sales increased by roughly 4% to € 21.1m. Sales revenues from hotel operations increased by 13% from € 17.4m in the first three months of 2010 to € 19.7m. The primary reason for this improvement was significantly higher revenues in Ekaterinburg, Łódź, Katowice and Paris. Revenues from the rental of offices and the provision of development services decreased from…
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