Echo Investment S A : Consolidated quarterly report of the Echo Investment Capital Group for Q3 2022
November 29, 2022 at 06:43 am EST
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The 3rd quarter of
2022
Financial report of Echo Investment S.A. and its Group
Photo: Brain Park office building in Kraków
Photo: Lobby in Brain Park office building in Kraków
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 three quarters of 2022
18
08.
Significant events after the balance sheet day
29
09.
Residential segment - market outlook and the Group's business activities
30
10.
Commercial real estate - market outlook and Group business activities
36
11.
Group segments - financial structure
42
12.
Portfolio of properties
45
13.
Main investments in the three quarters of 2022 - acquisition of plots
59
14.
Factors and unusual events affecting the results in the 3rd quarter of 2022
60
15. Significant factors influencing the development of Company and the Group in the perspective
of at least the following quarter
62
16.
Information on dividend policy and dividend
64
17.
Financial liabilities of the Company and its Group
66
18.
Off-balance sheet liabilities
70
19.
Other disclosures required by law
81
20.
The impact of the war in Ukraine on the operations of the Group
82
Financial statements
83
CHAPTER 2
84
Condensed interim consolidated financial statements of Echo Investment Group
as of and for the period ended 30 September 2022
84
Information on financial statement of the Group
93
01.
Principles adopted in preparation of financial report
94
02.
Echo Investment Group
95
03.
New standards and interpretations that are effective as of 1 January 2022
97
04.
Published standards and interpretations which are not effective yet and have not been adopted by the Group
98
CHAPTER 3
100
Condensed interim standalone financial statements of Echo Investment S.A.
as of and for the period ended 30 September 2022
100
CHAPTER 4
108
Statement of the Management Board
108
Contact
111
Photo: Food Hall in Warsaw Brewery
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Echo Investment SA published this content on 29 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2022 11:41:44 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. 
