Implementation of the strategy of profitable growth gives Echo Investment great results. The Company started two ‘destination’ projects, secured large landbank, successfully sells its projects and accelerated in residential sector. Last year the developer recorded PLN 312 mln of consolidated net profit and a very low debt.

As at the end of 2017, the Company has over 1,1 mln sqm of office, retail and residential space under construction and in preparation. This is over 40% more than a year before. "The scale of our activity has been growing rapidly in the recent years, which is why we devote a lot of energy to strengthening our business functions, efficiency and streamlining procedures. We hired over 100 employees in 2017 due to the greater number of projects under construction. The Company is constantly working on improving our compliance system, establishing internal audit function, reviewing procedures and routines. This will positively affect the transparency of operations, facilitate decision-making and reduce risks" says Nicklas Lindberg, CEO of Echo Investment. 2017 was the first full year in which the results were generated in accordance with our new strategy, almost exclusively from development activities. Our Group generated a net profit of PLN 312 mln. This is the result of delivering 1,006 apartments to our clients and fair value gains on our investment properties by PLN 234 mln. The results were also influenced by the recognition of the market value of our EPP"s shareholding and the remuneration received for the development of Outlet Park and Galaxy in Szczecin as well as leasing of Q22 in Warsaw. A low level of indebtedness is a positive factor that allows us to look confidently at the future of Echo Investment. It provides us with great comfort when choosing the optimal sources of project financing. "Last year we continued cooperation with major Polish banks in terms of lending and we placed over PLN 600 mln in listed corporate bonds sold to individual and institutional investors, which makes us one of the largest issuers of corporate bonds in Poland. In February 2018 the Management Board adopted a resolution on launching another PLN 400 mln bond programme for individual investors" says Maciej Drozd, CFO. Echo Investment Group ended 2017 with PLN 363 mln gross profit and PLN 312 mln of net profit. Value of total assets amounted to PLN 3,9 bln and it was 15% more than at the end of 2016. It"s worth to highlight, than in line with the strategy of profitable growth, value of commercial and residential properties under construction has grown by over 60% in that period.