ECM Real Estate Investments A.G. is bankrupted real estate developer based in Luxembourg, that was active mostly in Czech Republic, but also in China, Poland or Russia.
Company was founded in 1991 by Michal Janků, he is now still its CEO and through ECM Group N.V. largest shareholder (77%) of the company.ECM 2010 Annual Report Company owned inter alia two tallest buildings in the Czech Republic - City Tower and City Empiria. In 2006 company went on IPO on Prague Stock Exchange with price per stock 1,318 CZK (47 EUR), getting market capitalization 262.7 mil. EUR Stocks became part of PX Index and eventually reached price 2,000 CZK per share.
Mainly as result of the Great Recession, the company went bankrupt in May 2011Detail insolvenčního řízení ECM REAL ESTATE INVESTMENTS A.G. and went into liquidation in July 2011. In 2012 liquidation was changed to reorganization, but reverted to liquidation in February 2013.Prague Monitor: Prague court declares developer ECM bankrupt
Before its bankruptcy, ECM was involved in the development of V Tower in Prague.
Financial data + Financial Data in Euro Thousands Year-end 2005 2006 2007 2008 2009 2010 2011 ghemassageKLC Total revenue 2,136 8,315 19,339 35,793 36,851 27,039 12,046 Net income 20,710 18,955 25,564 -92,107 -60,820 -95,598 -63,848 Total assets 65,000 228,407 562,966 677,924 341,690 156,209 105,964
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