Echo Investment S A : Financial report of Echo Investment H1 2022
September 27, 2022 at 08:06 pm EDT
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The 1st half-year of
2022
Financial report
of Echo Investment S.A. and its Group
Fot. Biurowiec Midpoint71 we Wrocławiu
Photo: Wola Station in Warsaw
Content
Message from CEO
6
CHAPTER 1
8
Management Report
8
01.
General information about the Company and its Group
9
Management Board
10
Supervisory Board
11
02.
The Strategy of Profitable Growth
12
03.
Business model
14
04.
Selected financial data of the Group
15
05.
Echo Investment S.A. shareholding structure and shareholders' rights
16
06.
Volume of the Company's shares and bonds held by managing and supervising persons
17
07.
Major events in the 1st half-year 2022
18
08.
Significant events after the balance sheet day
26
09.
Residential segment - market outlook and the Group's business activities
28
10.
Commercial real estate - market outlook and Group business activities
33
11.
Portfolio of properties
38
12.
Main investments of the 1st half-year 2022 - acquisition of plots
51
13.
Factors and unusual events affecting the results in the 2nd quarter of 2022
52
14.
Significant factors influencing the development of Company and the Group in coming quarters
54
15.
Information on dividend policy and dividend
56
16.
Financial liabilities of the Company and its Group
58
17.
Off-balance sheet liabilities
62
18.
Remuneration of the Management Board and Supervisory Board
72
19.
Other disclosures required by law
75
20.
The impact of the war in Ukraine on the operations of the Group
76
21. The impact of the macroeconomic situation on the operations of the Company and its Group - description of
risks
77
CHAPTER 2
79
Condensed interim consolidated financial statement of Echo Investment Group
79
Explanatory notes
87
Information on financial statement of the Group
123
01.
Accounting principles adopted in drawing up the financial report
124
02.
Echo Investment Group
125
03.
Material estimates and judgments of the Management Board of the Company
127
04.
New standards and interpretations effective from 1 January 2022
135
05.
Published standards and interpretations which are not effective yet and have not been adopted
136
06.
Significant events after the balance sheet day
138
CHAPTER 3
140
Condensed interim standalone financial statements of Echo Investment S.A.
140
Explanatory notes
148
Information on financial statement of the Company
193
01.
Principles adopted in financial report
194
02.
Significant contracts concluded with related entities
195
03.
Methods of determining the financial result
197
04.
Estimates of the Company's management board
197
05.
New standards and interpretations that are effective as of 1 January 2022
198
06.
Published standards and interpretations which are not effective yet and have not been adopted
199
07.
Significant events after the balance sheet day
201
Statement of the Management Board
202
Contact
205
Photo: Ogrody Anny in Łódź
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Echo Investment SA published this content on 28 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2022 00:05:05 UTC.
Echo Investment SA is a Poland-based company active in the real estate sector. The Company realizes investments in three operating segments: residential areas, providing leasing out and sale of residential and commercial space; shopping centers, providing leasing out and sale of commercial and entertainment space; and office buildings and hotels, providing leasing out and sale of office and hotel space. The Company manages the investment processes of given projects, starting from the purchase of property, through obtaining administrative permits, financing, implementation, supervision to putting the facility into service. The Company provides its services in Poland, Ukraine, Romania and Hungary. The Company operated 75 subsidiaries providing construction and engineering services, as well as rental and management of real estate properties. The main shareholder of the Company is Bafia Sp z o o. It operates through Compass Offices Management Poland Ltd Sp z o o.
ECHO INVESTMENT S.A. 
