PIE Events
- Nordics Property Breakfast
31 May 2012
Frankfurt am Main, Germany
Upcoming Events
- Property Debt Breakfast
20 June 2012
London
Germany's IVG posts 87% slide in net profit on downward asset valuations
Germany's largest listed property company IVG Immobilien reported a fall in group net earnings by 87% in the first nine months to e34.1m, including a loss of e17m in the third quarter. It blamed the strong undertow on the spreading financial crisis and the need to write down values of its portfolio. Net asset value fell by 18.7% relative to end-December, to e23.59 per share.