ECM Real Estate Investments

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ECM Real Estate Investments
Founded1998  OOjs UI icon edit-ltr-progressive.svg
Headquarters
Luxembourg City   OOjs UI icon edit-ltr-progressive.svg
,
Luxembourg  OOjs UI icon edit-ltr-progressive.svg
City Tower, tallest building in Prague. ECM bought it unfinished in 1999 and sold it in 2009. City Tower Praha 20080514.JPG
City Tower, tallest building in Prague. ECM bought it unfinished in 1999 and sold it in 2009.

ECM Real Estate Investments A.G. is bankrupted real estate developer based in Luxembourg, that was active mostly in Czech Republic, but also in China, Poland or Russia.

Company was founded in 1991 by Michal Janků, [1] [2] he is now still its CEO and through ECM Group N.V. largest shareholder (77%) of the company. [3] Company owned inter alia two tallest buildings in the Czech Republic - City Tower and City Empiria. In 2006 company went on IPO on Prague Stock Exchange [4] with price per stock 1,318 CZK (47 EUR), getting market capitalization 262.7 mil. EUR [5] Stocks became part of PX Index and eventually reached price 2,000 CZK per share.

Mainly as result of the Great Recession, the company went bankrupt in May 2011 [6] and went into liquidation in July 2011. [4] In 2012 liquidation was changed to reorganization, [7] but reverted to liquidation in February 2013. [1]

Before its bankruptcy, ECM was involved in the development of V Tower in Prague. [8]

Financial data

Financial Data in Euro Thousands
Year-end2005 [9] 2006 [9] 2007 [9] 2008 [9] 2009 [3] 2010 [3] 2011 [10]

[11]

Total revenue2,1368,31519,33935,79336,85127,03912,046
Net income20,71018,95525,564-92,107-60,820-95,598-63,848
Total assets65,000228,407562,966677,924341,690156,209105,964

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References

  1. 1 2 Prague Monitor: Prague court declares developer ECM bankrupt
  2. ↑ Gallistl, Vladan (2011-06-10). "ECM Group Milana Janků prodává akcie developerské ECM". TÝDEN.cz (in Czech). Retrieved 2022-03-28.
  3. 1 2 3 ECM 2010 Annual Report [ permanent dead link ]
  4. 1 2 Menzelová, Kateřina (2011-07-21). "ECM heads for bankruptcy as int'l investors fight move". Lidovky.cz. Retrieved 2022-03-28.
  5. ↑ "Byznys, politika, ekonomika, finance, události - E15.cz". www.e15.cz (in Czech). Retrieved 2022-03-28.
  6. ↑ Detail insolvenčního řízení ECM REAL ESTATE INVESTMENTS A.G.
  7. ↑ https://isir.justice.cz/isir/doc/dokument.PDF?id=3960489 [ bare URL PDF ]
  8. ↑ "V Praze roste luxusní mrakodrap, byt v oblacích vyjde na sto milionů". Mladá fronta DNES (in Czech). iDnes. 9 September 2015. Retrieved 9 September 2015.
  9. 1 2 3 4 "ECM 2008 Annual Report" (PDF). Archived from the original (PDF) on 2012-04-25. Retrieved 2011-10-28.
  10. ↑ "ECM 2011 Annual Report" (PDF). Archived from the original (PDF) on 2013-12-29. Retrieved 2013-03-22.
  11. ↑ ghemassageKLC
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