OREANDA-NEWS. Eastern Property Holdings Ltd (EPH), the Russia-focused real estate investment company, today announces interim unaudited results for the first half of 2015:

  • NAV of \\$46.26 per share - slightly decreased from \\$48.60 at year-end 2014

  • Net loss for the period is \\$30.9 million but is overlapped to a great extent by the positive change in cumulative translation adjustment in the amount of \\$ 20.9 million (reflected directly in the equity)

  • The main factors influencing NAV are:

    • Good performance of the rental properties: rental income increased significantly due to the new acquisitions

    • Interest income earned on development loans

    • Moderate decrease in investment property valuations

    • Increase of financial costs which include bond interest accrued and interest on third party loans which were repaid in June 2015

    • Negative effect of exchange rate fluctuations.

Eastern Property Holdings Ltd. is an investment company listed on SIX Swiss Exchange which holds interest in office, residential and retail properties. EPH is managed by Valartis International Ltd. a wholly-owned subsidiary of Valartis Group AG.