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Orco Property Germany S.A. 40, Parc d'Activité Capellen 8308 Capellen, Luxembourg http://www.orcogroup.com
Contact Mr Sebastian Bucher +49 40 60918618
Company logo of Orco Property Germany S.A.
Orco Property Germany S.A.

ORCO Germany: Key portfolio GSG performs well despite decline in group's net profit

Q1 results 2012

(PresseBox) (Capellen, )
In the first quarter of 2012, ORCO Germany realised total revenues of EUR 16.6 million and reached an operating result (EBIT) of EUR 6.9 million, a slight decrease compared to previous year's first quarter revenues of EUR 17,2 million and EBIT of EUR 7.6 million stemming mainly from sales of non strategic assets conducted in 2011.

Due to a lower financial result - mainly impacted by a lower (non-cash) profit on the revaluation of interest rate derivatives - the net profit declined from ? 2.2 million as of March 2011 to EUR 0.8 million as of March 2012.

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