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EPP pleased with 2017 results

Eurobuild CEE 08 March 2018
Echo Polska Properties (EPP) has published its financial results for 2017. Over the period, the distributable income came to EUR 76.6 mln exceeding forecasts. The value of its asset portfolio rose by 29 pct, to EUR1.95 bln.

Last year EPP closed EUR 334 mln in deals and announced its acquisition of the M1 portfolio valued at EUR 692 mln. As a result, by 2020 EPP’s portfolio will include twelve additional properties. The first tranche that covers M1 shopping centres in Czeladź, Kraków, Łódź and Zabrze, was completed in January 2018.

“Footfall in our centres is up 4.6 pct compared to an increase of 3 pct in the previous year with sales up an impressive 7 pct compared to 3 pct in 2016.” Retail vacancies declined to 1.41 pct compared to 1.63 pct in the previous year,” claimed CEO Hadley Dean.

A4 Business Park, West Gate and Tryton Business House - in December 2017. Three further offices are in the process of being sold.

At the end of last year, EPP had over 1,500 units leased, out of which 1,428 related to retail, while 94 – office properties. In addition, EPP also grows as an employer – last year 72 new people joined the company.

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