"ORCO Germany S.A.: Expected cash flow in the next 12 months
DGAP-News: ORCO Germany S.A. / Key word(s): Forecast ORCO Germany
S.A.: Expected cash flow in the next 12 months
13.05.2011 / 16:29
ORCO Germany S.A. (”OG”) is expecting net cash flows for the next 12
months largely corresponding to the expected estimated net proceeds
from the initiated sale of Sky Office, an office tower in Dusseldorf
which is 71% leased and is valued by DTZ at EUR 138 million as at
the end of 2010. The net cash inflow from the sale could be between
EUR 30 and 40 million by Q1 of 2012. The sale of smaller OG assets
has been initiated, with an expected net cash inflow between EUR 3
and 5 million over the next 12 months. Lastly, the third part of
proceeds from the sale of Leipziger Platz (as per the press release
of 1 February 2011), which is deferred to cover project development
risks overtaken by OG is not planned to be cashed within the next 36
months.
About ORCO Germany ORCO Germany S.A. is a property company that is
listed in the Prime Standard on the Regulated Market at Frankfurt
Stock Exchange and has its registered office in Luxembourg. The ORCO
Germany Group, which acts consistently under its registered name of
ORCO Germany, has been operating in Germany since 2004 and
concentrates on commercial property as well as on asset management
and project development. ORCO Germany is a subsidiary of ORCO
Property Group, which is one of the leading Central European
property companies. The company established in 1991 is based in
Luxembourg and has Euronext, Prague, Budapest and Warsaw Stock
Exchange listings."
