RomReal hereby announces the highlights in connection with the Q1 2011 results:
- Statutory Net Asset Value (NAV) under IFRS was EUR 0.63 (NOK 5.2) per share at the end of Q1 2011, a decline of 0.3% compared to the end of Q4 2010 in EUR. This is the result of the currency translation impact of the Romanian subsidiary companies in the consolidated accounts In NOK there was an increase in NAV of 6% for the same period from NOK4.9 to NOK5.2 per share.
- Pre-tax profit in Q1 2011 of EUR 2,130,000. Total assets at the end of Q1 2011 were EUR 43,690,000.
- The Company continues its efforts for strengthening its cash position by actively looking into further asset divestment.
- Cash collection from the Corallia project in Q1 amounted to EUR 62,000
- Outstanding receivables from the sales of apartments amount to EUR 390,000
- The administrative costs of the Company were 48% less as compared to the similar period of 2010. Overall, operating expenses were about 40% less compared to Q1 2010.
RomReal invites investors, analysts and media to the results conference call, to be held at 9.00 a.m. Oslo time on Friday 13th April 2011.
Those who would like to attend the conference call should dial:
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The conference call will be recorded and made available to download from www.romreal.com shortly after the call has ended.
For further information, please contact:
Harris Palaondas,
Investor Relations
Mob: +40 73 11 23 037
E-mail: investors@romreal.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
