St. Helier, 14.05.2004 - Disclosure announcement transmitted by euro adhoc.The issuer is responsible for the content of this announcement.
Significant increase of turnover and operating profitProperty portfolio and value doubled
Meinl European Land, the Vienna StockExchange listed real estate investment company with a focus on theproperty markets in Central and Eastern Europe, ended 2003 withexcellent operational results. All key figures show a significantincrease as the property portfolio doubled.
Significant increase of sales revenues and operating profit
Revenues increased by 50% in the reporting period and operatingprofit by 40%. This strong growth is a direct result of the massiveexpansion during the last 12 months. On an adjusted basis, the rentalincome from the properties in the ownership of the company atyear-end 2003 for a full 12 month period has risen by more than 11million Euro up to 18 million Euro.
Property portfolio and value doubled
The composition of the portfolio as well as property value mirror thedynamic expansion. As of today Meinl European Land owns almost 140properties with a total book value of nearly 200 million Euro inHungary and the Czech Republic; the total value as well as the numberof properties increased by 100% against 2002.
Annual General Meeting on 3rd June 2004
The financial statements for 2003 will be presented on theforthcoming Annual General Meeting on 3rd June 2004 at 11.00 a.m. inthe Radisson SAS Palais Hotel (Parkring 16, 1010 Wien). On the agendaof the AGM is also a resolution with respect to the increase of theauthorized share capital. If approved, this will give the company themeans for its continued expansion - in the last 12 months alone,Meinl European Land has invested more than 130 million Euro for theacquisition of additional properties with a high market potential.
Further inquiry note:ECC Publico Public Relations & LobbyingMag. Claudia Müller-StralzTel.: ++43 (0) 1/717 86 107mailto:email@example.com
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WKN: ISIN: AT0000660659Marktsegment: Standard Market Auction, official dealing Wiener BörseAG