ORCO Property Group

Profit Statement 2013 2014 2015
Sales EUR mil 66.9 75.2 14.0
EBITDA EUR mil -55.6 -12.3 -15.0
EBIT EUR mil -194 26.0 -13.3
Financing Cost EUR mil 57.3 48.2 14.5
Pre-Tax Profit EUR mil -252 -22.7 -21.0
Net Profit EUR mil -227 -23.6 -20.5
Dividends EUR mil 59.2 0 ...
Balance Sheet 2013 2014 2015
Total Assets EUR mil 1,172 374 379
Non-Current Assets EUR mil 891 345 356
Current Assets EUR mil 252 28.1 16.6
Working Capital EUR mil 112 7.78 6.25
Shareholders' Equity EUR mil 263 206 205
Liabilities EUR mil 909 168 174
Total Debt EUR mil 634 146 153
Net Debt EUR mil 545 139 150
Ratios 2013 2014 2015
ROE % -64.4 -10.1 -9.97
ROCE % -19.7 -3.49 -5.73
EBITDA Margin % -83.2 -16.4 -108
EBIT Margin % -290 34.5 -95.5
Net Margin % -339 -31.4 -147
Net Debt/EBITDA -9.80 -11.3 -9.95
Net Debt/Equity 2.07 0.673 0.731
Cost of Financing % 8.65 12.4 9.71
Cash Flow 2013 2014 2015
Total Cash From Operations EUR mil 24.7 34.5 -1.88
Total Cash From Investing EUR mil 8.61 -113 1.79
Total Cash From Financing EUR mil 32.5 -3.25 -3.02
Net Change In Cash EUR mil 65.8 -81.4 -3.11
Cash Earnings EUR mil -88.6 -61.9 -22.2
Free Cash Flow EUR mil 33.3 -78.1 -0.089

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summary Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                                  
Sales EUR mil                     252 315 158 245 66.9    
EBIT EUR mil                     -76.0 23.8 9.84 -23.7 -194    
Net Profit EUR mil                     -251 233 -53.3 -41.9 -227    
ROE %                     -94.4 101 -17.0 -11.7 -64.4    
EBIT Margin %                     -30.2 7.57 6.24 -9.70 -290    
Net Margin %                     -99.6 74.2 -33.8 -17.1 -339    
balance sheet                                  
Total Assets EUR mil                     2,072 1,902 1,698 1,388 1,172    
Non-Current Assets EUR mil                     1,442 1,336 1,190 1,048 891    
Current Assets EUR mil                     631 566 508 333 252    
Shareholders' Equity EUR mil                     105 356 271 442 263    
Liabilities EUR mil                     1,968 1,546 1,427 945 909    
Non-Current Liabilities EUR mil                     1,073 980 525 602 491    
Current Liabilities EUR mil                     895 567 902 334 390    
Net Debt/EBITDA                     -20.9 39.4 36.5 24.9 -9.80    
Net Debt/Equity                     14.3 3.12 4.08 1.51 2.07    
Cost of Financing % ...                   5.58 7.21 7.18 -0.082 8.65    
cash flow                                  
Total Cash From Operations EUR mil ...                   -88.8 74.0 -11.7 142 24.7    
Total Cash From Investing EUR mil ...                   28.8 45.8 99.8 80.5 8.61    
Total Cash From Financing EUR mil ...                   33.3 -123 -102 -232 32.5    
Net Change In Cash EUR mil ...                   -26.8 -3.60 -14.4 -9.60 65.8    
income statement Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                                  
Sales EUR mil                     252 315 158 245 66.9    
Staff Cost EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... 26.7 10.5    
EBITDA EUR mil                     -71.4 28.2 30.3 26.9 -55.6    
Depreciation EUR mil                     4.58 4.40 20.5 50.6 138    
EBIT EUR mil                     -76.0 23.8 9.84 -23.7 -194    
Financing Cost EUR mil                     86.9 97.7 82.7 -0.755 57.3    
Extraordinary Cost EUR mil                     202 -305 -25.7 14.4 1.17    
Pre-Tax Profit EUR mil                     -364 231 -47.1 -37.4 -252    
Tax EUR mil                     -48.9 8.17 5.46 9.56 1.06    
Minorities EUR mil                     -65.0 -10.8 1.80 -5.06 -26.5    
Net Profit EUR mil                     -251 233 -53.3 -41.9 -227    
Dividends EUR mil                     0 0 0 15.0 59.2   ...
growth rates                                  
Total Revenue Growth % ...                   -16.1 25.1 -49.9 55.3 -72.7    
EBITDA Growth % ...                   -461 -140 7.43 -11.3 -307    
EBIT Growth % ...                   -55.0 -131 -58.7 -341 718    
Pre-Tax Profit Growth % ...                   -29.2 -163 -120 -20.6 575    
Net Profit Growth % ...                   -35.8 -193 -123 -21.4 442    
ratios                                  
ROE %                     -94.4 101 -17.0 -11.7 -64.4    
ROCE % ...                   -12.1 12.6 -3.17 -2.89 -19.7    
EBITDA Margin %                     -28.4 8.96 19.2 11.0 -83.2    
EBIT Margin %                     -30.2 7.57 6.24 -9.70 -290    
Net Margin %                     -99.6 74.2 -33.8 -17.1 -339    
Payout Ratio %                     0 0 0 -35.8 -26.1   ...
Cost of Financing % ...                   5.58 7.21 7.18 -0.082 8.65    
Net Debt/EBITDA                     -20.9 39.4 36.5 24.9 -9.80    
balance sheet Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
balance sheet                                  
Non-Current Assets EUR mil                     1,442 1,336 1,190 1,048 891    
Property, Plant & Equipment EUR mil                     1,308 1,126 1,029 885 785    
Intangible Assets EUR mil                     48.9 48.2 47.8 47.3 46.4    
Current Assets EUR mil                     631 566 508 333 252    
Inventories EUR mil                     483 419 382 262 115    
Receivables EUR mil                     31.4 34.3 32.1 22.3 20.0    
Cash & Cash Equivalents EUR mil                     54.8 49.5 36.8 22.6 88.7    
Total Assets EUR mil                     2,072 1,902 1,698 1,388 1,172    
Shareholders' Equity EUR mil                     105 356 271 442 263    
Of Which Minority Interest EUR mil                     48.2 52.9 11.7 3.80 87.2    
Liabilities EUR mil                     1,968 1,546 1,427 945 909    
Non-Current Liabilities EUR mil                     1,073 980 525 602 491    
Long-Term Debt EUR mil                     894 763 403 467 360    
Deferred Tax Liabilities EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... 100 108    
Current Liabilities EUR mil                     895 567 902 334 390    
Short-Term Debt EUR mil                     655 398 741 223 273    
Trade Payables EUR mil                     33.5 21.0 16.4 25.6 22.4    
Equity And Liabilities EUR mil                     2,072 1,902 1,698 1,388 1,172    
growth rates                                  
Total Asset Growth % ...                   -15.9 -8.21 -10.7 -18.3 -15.5    
Shareholders' Equity Growth % ...                   -75.4 240 -23.8 63.1 -40.5    
Net Debt Growth % ...                   -0.322 -25.7 -0.369 -39.6 -18.4    
Total Debt Growth % ...                   -1.07 -25.1 -1.45 -39.6 -8.24    
ratios                                  
Total Debt EUR mil                     1,549 1,160 1,143 691 634    
Net Debt EUR mil                     1,494 1,111 1,107 668 545    
Working Capital EUR mil                     481 432 398 259 112    
Capital Employed EUR mil                     1,922 1,768 1,588 1,307 1,003    
Net Debt/Equity                     14.3 3.12 4.08 1.51 2.07    
Cost of Financing % ...                   5.58 7.21 7.18 -0.082 8.65    
cash flow Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
cash flow                                  
Net Profit EUR mil                     -251 233 -53.3 -41.9 -227    
Depreciation EUR mil                     4.58 4.40 20.5 50.6 138    
Non-Cash Items EUR mil ...                   130 -212 -13.2 -5.55 -33.3    
Change in Working Capital EUR mil ...                   26.8 48.2 34.2 139 147    
Total Cash From Operations EUR mil ...                   -88.8 74.0 -11.7 142 24.7    
Capital Expenditures EUR mil ...                   -36.3 -28.1 -14.0 -4.68 -5.16    
Other Investments EUR mil ...                   65.0 73.8 114 85.1 13.8    
Total Cash From Investing EUR mil ...                   28.8 45.8 99.8 80.5 8.61    
Dividends Paid EUR mil ...                   0 0 0 -15.0 -59.2   ...
Issuance Of Debt EUR mil ...                   -16.7 -389 -16.8 -453 -56.9    
Total Cash From Financing EUR mil ...                   33.3 -123 -102 -232 32.5    
Net Change In Cash EUR mil ...                   -26.8 -3.60 -14.4 -9.60 65.8    
ratios                                  
Days Sales Outstanding days                     45.5 39.8 74.4 33.3 109    
Cash Earnings EUR mil                     -246 238 -32.8 8.72 -88.6    
Free Cash Flow EUR mil ...                   -60.1 120 88.0 223 33.3    
other data Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
other data                                  
ROA %                     -11.0 11.7 -2.96 -2.71 -17.7    
Staff Cost (As % Of Total Cost) % ... ... ... ... ... ... ... ... ... ... ... ... ... 9.96 4.01    
Effective Tax Rate %                     13.4 3.54 -11.6 -25.6 -0.420    
Capital Expenditures (As % of Sales) % ...                   14.4 8.92 8.89 1.91 7.71    

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May 2016
Statistical Dossier
Mar 2014
Statistical Dossier

Orco Property Group (Orco) is a Luxembourg-based real estate company, specializing in the development, investment, rental and management of properties in Central and Eastern Europe. Orco Property Group operates in a number of countries in Central and Eastern Europe with main focus on Germany, the Czech Republic, Hungary, Poland, Croatia and Slovakia. The Company rents and manages portfolio of commercial properties composed of office buildings, apartments with services, luxury hotels and hotel residences. It also offers luxury residential apartments for sale and rent throughout Central Europe.