Warimpex had a net profit of EUR 12.27 million, and an EBITDA of EUR 14.51 million in 2021

Warimpex Finanz- und Beteiligungs posted EUR 12.27mn of consolidated net profit attributable to shareholders of the parent company in 2021 vs. EUR 29.69mn loss a year earlier, the company said in the report.

The operating profit (EBIT) was EUR 15.54 mn vs. EUR 7.69 mn loss a year earlier.

“EBITDA increased from EUR 3 million to EUR 14.5 million. It was the effect of a higher gross profit, balance sheet profit from the acquisition of shares in companies and a reduction in costs due to the discontinuation of provisioning. EBIT increased from -7.7 million euros to 15.5 million euros as a result of improved operating performance and a positive property valuation result. Financial result (including joint ventures) improved from EUR -21.4 million to EUR -0.6 million. In addition to the balance sheet profit on loan purchases of EUR 7.2 million, it includes, inter alia, gains from currency translation of 1.0 million euros and result from joint ventures of -1.7 million euros. Overall, the Warimpex Group achieved a significantly better net financial result [overall] in the financial year 2021 than last year, amounting to EUR 12.0 million (2020: -EUR 31.1 million), ”reads the results release.

Consolidated sales revenues amounted to EUR 26.72 million in 2021 compared to EUR 25.66 million a year earlier.

“Although 2021 - though to a lesser extent than 2020 - was again marked by the coronavirus pandemic and restrictions imposed by the authorities, Warimpex again made profits and made a kind of return to normal. However, this normality is now relegated to the background in the face of the current events in Ukraine, which bring with them an enormous amount of human suffering. The economic effects of the international sanctions imposed on Russia and the Russian actions taken in response to these sanctions are comprehensively difficult to assess due to the unstable situation, and we are monitoring them on an ongoing basis. We support local aid projects and organize transport for refugees to our hotel in Darmstadt, where we provide them with medium-term accommodation options, ”commented President Franz Jurkowitsch, quoted in the material.

“Warimpex continues to have a solid economic footing and we expect our business to grow positively. We take the tense humanitarian and economic situation in the wake of the events in Ukraine very seriously. We have an experienced and proven team in crisis situations, which is able to flexibly react to the changing situation, thanks to which we are well prepared for the upcoming challenges ”- concluded Jurkowitsch.

Warimpex Finanz- und Beteiligungs AG is a development and investment company based in Vienna, listed on the stock exchanges in Vienna and Warsaw. Its core business is the construction and operation of hotels and office properties in Central and Eastern Europe.

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