Conwert EBIT Up 137.4 Percent Y/Y

Published: August 24, 2016; 18:30 · (FriedlNews)

Listed property developer Conwert reports that in H1 2016 it generated EBIT of EUR 146 million (up 137.4 percent y/y) and a revenue of EUR 264.3 million (up 26 percent). The company managed to boost its performance thanks to optimising the property portfolio, the structure and costs.

Conwert EBIT Up 137.4 Percent Y/Y / Picture: © Conwert

It also has a strong base for further acquisitions, CEO Wolfgang Beck indicated in a statement.

It was further announced that the company recorded its best H1 results ever, mostly thanks to an increase of the real estate portfolio value.

The operating profit (FFO I) climbed by 52.6 percent y/y to EUR 39.3 million.

The net profit was tripled y/y to EUR 74.9 million - a new high.

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