ECM Real Estate Investments

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] he is now still its CEO and through ECM Group N.V. largest shareholder (77%) of the company.[2] 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 with price per stock 1,318 CZK (47 EUR), getting market capitalization 262.7 mil. EUR[3] Stocks became part of PX Index and eventually reached price 2,000 CZK per share.

Mainly as result of late-2000s financial crisis company went bankruptcy in May 2011[4] and to the liquidation since July 2011. In 2012 liquidation was changed to reorganization,[5] but reverted to liquidation in February 2013.[1]

Before its bankruptcy, ECM was involved in the development of V Tower in Prague.[6]

Financial data

Financial Data in Euro Thousands
Year-end 2005[7] 2006[7] 2007[7] 2008[7] 2009[2] 2010[2] 2011[8]
Total revenue 2,136 8,315 19,339 35,793 36,851 27,039 12,046
Net income 20,710 18,955 25,564 -92,107 -60,820 -95,598 -63,848
Total assets 65,000 228,407 562,966 677,924 341,690 156,209 105,964

References

  1. 1 2 Prague Monitor: Prague court declares developer ECM bankrupt
  2. 1 2 3 ECM 2010 Annual Report
  3. ↑ E15: Vstup na burzu se podařil
  4. ↑ Detail insolvenčního řízení ECM REAL ESTATE INVESTMENTS A.G.
  5. ↑ https://isir.justice.cz/isir/doc/dokument.PDF?id=3960489
  6. ↑ "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.
  7. 1 2 3 4 ECM 2008 Annual Report
  8. ↑ ECM 2011 Annual Report
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