Echo Investment S.A. Logo

Echo Investment S.A.

ISIN: PLECHPS00019 | Ticker: ECH | LEI: 259400LHRL5AUI6F1F70
Sector: Real EstateSub-Industry: Real Estate Development
Country: Poland

About Echo Investment S.A.

Company Description

Everything starts with you: how you live, how you like to work, how you take care of everyday matters and how you rest. With this assumption we create places that provide a sense of independence, convenience and security. We respect the urban space and we pay close attention to its history and tradition.

We are the largest Polish developer with extensive experience in the three main sectors of the real estate market: residential, retail and service as well as offices. As a company which is jointly responsible for the development of cities, we get involved in building large, city-forming projects that are in line with the city fibre and complement it. Our flagship project is Browary Warszawskie, which is under construction in the heart of the fastest growing district of Warsaw. We run and prepare further city-forming projects in Warsaw, Kraków, Łódź and Wrocław. Each of them is a wisely and responsibly designed fragment of the city.

Headquarters

Al. Solidarności 36, 25-323 Kielce – Poland

Financial statements

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Line item in (pln) 01.01.2019 01.01.2020 01.01.2021 01.01.2022 01.01.2023
Assets 3,891,909,000.00 4,810,429,000.00 5,630,796,000.00 6,434,880,000.00 6,087,012,000.00
Noncurrent Assets 2,268,432,000.00 2,913,259,000.00 2,765,043,000.00 2,518,450,000.00 2,661,932,000.00
Property Plant And Equipment 8,938,000.00 25,762,000.00 27,872,000.00 64,261,000.00 60,409,000.00
Investment Property Completed 988,903,000.00 941,983,000.00 1,388,972,000.00 843,576,000.00 1,094,638,000.00
Investment Property Under Construction Or Development 872,509,000.00 1,517,866,000.00 780,621,000.00 741,663,000.00 486,625,000.00
Intangible Assets Other Than Goodwill 2,468,000.00 3,741,000.00 3,459,000.00 70,529,000.00 71,752,000.00
Investments In Joint Ventures Accounted For Using Equity Method 258,531,000.00 254,142,000.00 306,449,000.00 336,737,000.00 478,180,000.00
Noncurrent Inventories N/A N/A N/A 19,455,000.00 21,359,000.00
Deferred Tax Assets 52,493,000.00 53,903,000.00 56,476,000.00 74,015,000.00 94,494,000.00
Noncurrent Financial Assets At Amortised Cost 84,590,000.00 115,862,000.00 201,194,000.00 366,360,000.00 326,675,000.00
Other Noncurrent Nonfinancial Assets N/A N/A 0.00 1,854,000.00 1,549,000.00
Noncurrent Derivative Financial Assets N/A N/A N/A 0.00 26,251,000.00
Current Assets N/A N/A N/A 3,916,430,000.00 3,425,080,000.00
Inventories 771,836,000.00 1,052,327,000.00 925,173,000.00 1,602,077,000.00 1,592,885,000.00
Trade And Other Current Receivables 211,142,000.00 144,844,000.00 112,111,000.00 120,163,000.00 333,577,000.00
Current Receivables From Taxes Other Than Income Tax 87,177,000.00 59,006,000.00 93,050,000.00 64,908,000.00 81,762,000.00
Current Tax Assets Current 3,381,000.00 1,484,000.00 5,708,000.00 13,104,000.00 14,925,000.00
Current Financial Assets At Amortised Cost 42,190,000.00 64,465,000.00 50,761,000.00 41,920,000.00 15,327,000.00
Cash and cash equivalents 439,532,000.00 492,295,000.00 327,097,000.00 588,680,000.00 941,997,000.00
Current Assets Other Than Assets Or Disposal Groups Classified As Held For Sale Or As Held For Distribution To Owners 1,609,977,000.00 1,874,247,000.00 1,596,424,000.00 2,534,979,000.00 3,069,753,000.00
Noncurrent Assets Or Disposal Groups Classified As Held For Sale 13,500,000.00 22,923,000.00 1,269,329,000.00 1,381,451,000.00 355,327,000.00
Current Derivative Financial Assets 0.00 2,669,000.00 0.00 18,922,000.00 366,000.00
Shortterm Deposits Not Classified As Cash Equivalents 54,719,000.00 57,157,000.00 82,524,000.00 85,205,000.00 88,914,000.00
Equity And Liabilities 3,891,909,000.00 4,810,429,000.00 5,630,796,000.00 6,434,880,000.00 6,087,012,000.00
Equity 1,495,459,000.00 1,562,243,000.00 1,684,559,000.00 1,863,537,000.00 1,806,312,000.00
Issued Capital 20,635,000.00 20,635,000.00 20,635,000.00 20,635,000.00 20,635,000.00
Retained Earnings 45,543,000.00 281,739,000.00 382,420,000.00 499,517,000.00 577,337,000.00
Other Reserves N/A N/A N/A 1,158,524,000.00 1,044,798,000.00
Equity Attributable To Owners Of Parent 1,495,573,000.00 1,562,365,000.00 1,684,685,000.00 1,679,610,000.00 1,643,778,000.00
Noncontrolling Interests -114,000.00 -122,000.00 -126,000.00 183,927,000.00 162,534,000.00
Noncurrent Liabilities 1,405,909,000.00 1,970,451,000.00 1,939,376,000.00 2,078,844,000.00 1,962,076,000.00
Noncurrent Provisions 58,973,000.00 35,931,000.00 50,029,000.00 6,499,000.00 5,356,000.00
Noncurrent Payables For Purchase Of Noncurrent Assets N/A N/A 0.00 50,895,000.00 0.00
Noncurrent Contract Liabilities 57,851,000.00 45,754,000.00 14,208,000.00 20,447,000.00 N/A
Other Noncurrent Payables 28,089,000.00 16,018,000.00 117,722,000.00 97,139,000.00 N/A
Deferred Tax Liabilities 111,303,000.00 152,733,000.00 203,518,000.00 172,917,000.00 140,651,000.00
Noncurrent Derivative Financial Liabilities 0.00 0.00 0.00 N/A N/A
Other Noncurrent Liabilities N/A N/A N/A 104,422,000.00 68,200,000.00
Longterm Borrowings 1,149,693,000.00 1,602,126,000.00 1,465,767,000.00 1,626,984,000.00 1,609,032,000.00
Current Liabilities N/A N/A N/A 2,492,499,000.00 2,318,624,000.00
Current Provisions 115,843,000.00 89,428,000.00 32,059,000.00 53,412,000.00 51,238,000.00
Trade And Other Current Payables To Trade Suppliers 234,623,000.00 238,011,000.00 130,249,000.00 186,793,000.00 142,867,000.00
Current Payables For Purchase Of Noncurrent Assets N/A N/A N/A 0.00 51,478,000.00
Current Contract Liabilities 263,497,000.00 407,152,000.00 217,405,000.00 572,315,000.00 558,252,000.00
Other Current Payables 78,590,000.00 87,362,000.00 178,726,000.00 198,277,000.00 N/A
Current Tax Liabilities Current 8,859,000.00 5,035,000.00 1,618,000.00 6,318,000.00 31,174,000.00
Current Liabilities Other Than Liabilities Included In Disposal Groups Classified As Held For Sale 990,541,000.00 1,277,735,000.00 1,962,972,000.00 2,424,436,000.00 2,273,615,000.00
Liabilities Included In Disposal Groups Classified As Held For Sale 0.00 0.00 43,889,000.00 68,063,000.00 45,009,000.00
Current Derivative Financial Liabilities 0.00 0.00 0.00 1,188,000.00 0.00
Current Dividend Payables 0.00 0.00 0.00 0.00 90,792,000.00
Other Current Liabilities N/A N/A N/A 216,701,000.00 293,775,000.00
Line item in (pln) 01.01.2019/
01.01.2020
01.01.2020/
01.01.2021
01.01.2021/
01.01.2022
01.01.2022/
01.01.2023
Revenue 880,133,000.00 1,212,854,000.00 1,532,665,000.00 1,394,306,000.00
Other Income 22,516,000.00 10,383,000.00 57,326,000.00 18,323,000.00
Profit Loss From Operating Activities 450,153,000.00 338,167,000.00 309,309,000.00 275,403,000.00
Finance Income N/A N/A 40,704,000.00 50,496,000.00
Finance Costs N/A N/A 119,695,000.00 154,699,000.00
Profit Loss Before Tax 398,188,000.00 176,612,000.00 261,892,000.00 219,001,000.00
Income Tax Expense Continuing Operations 98,664,000.00 54,523,000.00 56,461,000.00 62,455,000.00
Profit (loss) 299,524,000.00 122,089,000.00 205,431,000.00 156,546,000.00
Profit Loss Attributable To Owners Of Parent 299,532,000.00 122,093,000.00 188,922,000.00 127,150,000.00
Profit Loss Attributable To Noncontrolling Interests -8,000.00 -4,000.00 16,509,000.00 29,396,000.00
Line item in (pln) 01.01.2019 01.01.2020 01.01.2021 01.01.2022 01.01.2023
Profit (loss) N/A 299,524,000.00 122,089,000.00 205,431,000.00 156,546,000.00
Adjustments For Decrease Increase In Inventories N/A -161,720,000.00 69,967,000.00 -106,064,000.00 -48,419,000.00
Adjustments For Depreciation And Amortisation Expense N/A 9,472,000.00 11,738,000.00 12,528,000.00 15,298,000.00
Adjustments For Provisions N/A 15,368,000.00 -43,271,000.00 5,040,000.00 57,823,000.00
Adjustments For Losses Gains On Disposal Of Noncurrent Assets N/A N/A N/A 205,000.00 165,000.00
Cash Flows From Used In Operations N/A -27,031,000.00 -57,345,000.00 240,483,000.00 101,507,000.00
Income Taxes Paid Refund Classified As Operating Activities N/A 55,365,000.00 13,391,000.00 121,316,000.00 92,323,000.00
Cash Flows From Used In Operating Activities N/A -82,396,000.00 -70,736,000.00 119,167,000.00 9,184,000.00
Cash Flows From Losing Control Of Subsidiaries Or Other Businesses Classified As Investing Activities N/A 0.00 15,631,000.00 N/A N/A
Cash Flows Used In Obtaining Control Of Subsidiaries Or Other Businesses Classified As Investing Activities N/A N/A 0.00 35,104,000.00 0.00
Other Cash Receipts From Sales Of Interests In Joint Ventures Classified As Investing Activities N/A N/A N/A 0.00 32,548,000.00
Other Cash Payments To Acquire Interests In Joint Ventures Classified As Investing Activities N/A N/A N/A 13,148,000.00 110,003,000.00
Cash Advances And Loans Made To Other Parties Classified As Investing Activities N/A 60,957,000.00 77,331,000.00 79,024,000.00 14,469,000.00
Cash Receipts From Repayment Of Advances And Loans Made To Other Parties Classified As Investing Activities N/A 14,309,000.00 17,763,000.00 2,922,000.00 34,092,000.00
Cash Flows From Used In Investing Activities N/A -132,358,000.00 -752,895,000.00 604,012,000.00 584,836,000.00
Payments From Changes In Ownership Interests In Subsidiaries N/A N/A N/A 0.00 25,683,000.00
Payments Of Lease Liabilities Classified As Financing Activities N/A 23,236,000.00 17,209,000.00 33,673,000.00 29,817,000.00
Dividends Paid Classified As Financing Activities N/A N/A 0.00 215,079,000.00 99,994,000.00
Interest Paid Classified As Financing Activities N/A 53,816,000.00 88,736,000.00 76,610,000.00 143,773,000.00
Cash Flows From Used In Financing Activities N/A 267,517,000.00 658,433,000.00 -461,596,000.00 -240,703,000.00
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes N/A 52,763,000.00 -165,198,000.00 261,583,000.00 353,317,000.00
Effect Of Exchange Rate Changes On Cash And Cash Equivalents N/A 0.00 0.00 0.00 0.00
Increase (decrease) in cash and cash equivalents after effect of exchange rate changes N/A 52,763,000.00 -165,198,000.00 261,583,000.00 353,317,000.00
Cash and cash equivalents 439,532,000.00 492,295,000.00 327,097,000.00 588,680,000.00 941,997,000.00

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Capital markets information

ISIN

PLECHPS00019

LEI

259400LHRL5AUI6F1F70

Sector

Real Estate

Industry Group

Real Estate Management & Development

Industry

Real Estate Management & Development

Sub-Industry

Real Estate Development

Main Stock Exchange

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