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14 February 2012
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22 February 2012
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03-04 May 2012
Vienna, Austria
Austria's Immoeast posts three-quarters loss on depreciation
Austria's listed CEE developer and investor Immoeast, sister company to Immofinanz, continued to struggle in the first three quarters of its 2008/09 business year, posting a e1.4bn EBIT loss, driven by portfolio devaluations and writedowns. It does not rule out further such hits. In the three quarters ending January, depreciation on the portfolio totalled e1.1bn and net asset value per share fell 31% to e7.03.