PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Immofinanz/east says capital base sound despite massive losses on write-downs in 2008/9
Vienna-based listed property firms Immofinanz and Immoeast, battling to stave off the biggest collapse in European property and tied through cross-equity holdings, finally reported full-year results, revealing massive below-the-line losses but saying capital structures are sound enough to continue in business. With year-ends at end-April, Immofinanz reported a net loss at a mountainous e3.4bn as against a profit of e555m in 2007/8, while Immoeast showed a net loss for 2008/9 of e2.4bn, against a profit of e167m in 2007/8.