IMMOEAST Annual Report 2006/07
IMMOEAST Annual Report 2006/07
IMMOEAST Annual Report 2006/07
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The development of business in Poland<br />
Poland recorded the highest revenues of all subsegments in the <strong>IMMOEAST</strong> Group with an increase<br />
of 212% to TEUR 45,845.3 in <strong>2006</strong>/<strong>07</strong>. This development was supported by major acquisitions such<br />
as the Mokotow Business Park and Brama Zachodnia as well as the purchase of the remaining<br />
shares in IMAK CEE. EBIT rose by 45% to TEUR 81,234.3, whereby TEUR 60,746.9 of this total consists<br />
of revaluation results.<br />
Key data on Poland<br />
<strong>2006</strong>/<strong>07</strong> 2005/06 Change in %<br />
Revenues in TEUR 45,845.3 14,692.3 212.0%<br />
EBIT in TEUR 81,234.3 56,023.5 45.0%<br />
Letable space as a % of the total portfolio 16.3% 18.4% -11.4%<br />
Fair value in EUR million 1,119.7 444.6 151.8%<br />
Fair value as a % of the total portfolio 12.4% 23.0% 46.1%<br />
Recreation/hotel properties 0.2%<br />
Logistics properties 7.7%<br />
Parking 8.7%<br />
Residential properties 10.9%<br />
Retail properties 32.7%<br />
6.1.6. Slovakia<br />
Country information<br />
Population in mill.<br />
<strong>2006</strong><br />
5.4<br />
Real GDP increase in % 8.3<br />
GDP per capita in EUR 8,150.0<br />
Inflation in % 3.7<br />
39.8% Office properties<br />
Source: Eurostat<br />
Segment <strong>Report</strong>s<br />
The property market in Slovakia<br />
The institutional property market in Slovakia is concentrated in the capital city of Bratislava, the<br />
only city in the country with a population of more than 400,000. The office market in Bratislava has<br />
roughly 1 million sqm of space, with production reaching 80,000 sqm and new rentals 70,000 sqm<br />
in <strong>2006</strong>. A comparable situation is expected for 20<strong>07</strong>, which should hold the vacancy rate stable at<br />
a level near the current 11%. In spite of a slight increase, top rents remain below the comparable<br />
values for other capital cities in Eastern Europe at EUR 18/sqm.<br />
<strong>Report</strong> by the Executive Board 91<br />
Highlights <strong>2006</strong>/<strong>07</strong><br />
Business Model and Strategy<br />
Portfolio Structure<br />
Corporate Governance and Outlook<br />
Property Portfolio<br />
Development of Business<br />
Consolidated Financial Statements<br />
Service and Glossary<br />
Strongest subsegment with<br />
plus of 212% in revenues<br />
Distribution of letable space<br />
by sector in Poland<br />
As of 30.4.20<strong>07</strong><br />
Office prices below CEE<br />
average, opportunities in<br />
residential residential and and retail sectors
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