Echo Investment S A : Financial report of Echo Investment H1 2022

09/27/2022 | 08:06pm EST

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

	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 S.A.

Echo Investment S A : Financial report of Echo Investment H1 2022

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