KDD Group releases 2007 IFRS consolidated financials
12 June 2008
KDD Group (KDDG LN: N/R) released 2007 IFRS consolidated financials yesterday: net sales of USD 369 ths (+12x yoy), EBITDA of USD 143 mln (-36% yoy), net income of USD 105.4 mln (-36% yoy) and value of its investment property of USD 644 mln. Alexander Romanov: We perceive the news as neutral for the stock. The company’s projects are in the early stages of development, thus sales, EBITDA and net income are not indicative. Net sales are negligible compared to EBITDA and net income due to revaluation of the company’s project portfolio at USD 145.4 mln by Colliers International in September 2007.
