Press Release
Geneva, 28 August 2019
ENR RUSSIA INVEST SA ANNOUNCES 2019 HALF-YEAR RESULTS
For the six months ended 30 June 2019 ENR Russia Invest SA (“ENR””) produced a consolidated net profit of CHF 3.54 million (compared to a consolidated net loss of CHF 119’077 for the similar period in 2018). At 30 June 2019 ENR’s consolidated net asset value was CHF 45.49 million (CHF 40.47 million at 31 December 2018). The stronger Ruble, which appreciated by some 8.8% against the Swiss Franc, resulted in higher Swiss Francs values for ENR’s Russian based assets.
At Petrovsky Fort vacancies decreased as the rental market in Saint-Petersburg improved during the first six months of 2019. ENR continues with ongoing capex improvement programs at the business center and also introduced a number of new initiatives. A new look interactive website is in place (www.petrofort.ru); a new strategy to improve the mix of retail and service focused tenant businesses in the business center was implemented, overseen by a newly appointed head of these rental operations; a flagship bistro food hall & gastro-bar restaurant is planned to open before year-end 2019 and Petrovsky Fort is considering a potential redesign project of the atrium to optimize its use.
The ENR annual report is available from today on ENR’s website at http://www.enr.ch/Download.aspx?mode=pressrelease&id=N4fPJPiQP79p9YaVVFzzEg%3d%3d
Contact person: Ben de Bruyn, ENR Russia Invest SA, tel: +41 22 510 2626
ENR Russia Invest SA is an investment company listed on the SIX Swiss Exchange. It specialises in the management of equities and equity-like investments, real estate as well as fixed income instruments in Russia, other members of the Commonwealth of Independent States and the Baltic States. Additional information on ENR Russia Invest SA is available on the company website www.enr.ch
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