Highlights Q4 and 2017:
Following is a summary of net profit (loss) by activity. Management evaluates performance of main segments by their operational result. Further information that includes detailed segment analysis can be found further in this report.
Highlights Q4 and FY 2017
Q4 2017: €2.8 million net loss to equity holders (Q4 2016: loss of € 22.1 million), including gain on the sale of Pumped Storage partly off-set by a negative fair value adjustment of investment property. The results also include a minor negative currency impact on the Company’s debentures of € 0.6 million (2016: negative €10.3 million).
12M 2017: The consolidated net loss decreased to € 17.1 million compared to a loss of € 31.3 million in 2016, as a result of the gain on the sale of Star Pumped Storage (€ 7.1 million, net) and positive currency impact of € 7.2 million (2016: € 13.9 million negative) on the Company’s debentures.
Q4 2017: net loss of € 5.1 million (Q4 2016: net loss of €4.4 million). Strong delivery of residential apartments in Q4 2017.
12M 2017: net loss of € 14.6 million (2016: €15.2 million) mainly due to high financing expenses, revaluation losses of the investment property and release of deferred tax assets, partly offset by the strong results of the joint ventures.
Q4 2017: € 9.2 million net profit as a result of the gain from the sale of the Star Pumped Storage project (2016: loss of € 1.1 million).
12M 2017: Net profit of € 13.1 million attributable to equity holders compared with € 0.9 million in 2016
Avis Ukraine continued to show good results and contributed equity earnings of € 2.4 million in 2017.
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