CPI Property Group

CPI Property Group (CPIPG S.A.) an owner of commercial real estate in the Czech Republic, Berlin and Central Europe. The company's headquarters are in Luxembourg, and its shares are listed on the Frankfurt Stock Exchange.[2] The company's key sectors are in office and retail[3] but it also owns hotels,[4][5] residential,[6] agricultural,[7] industrial[8] and logistics[9] properties and holds land bank property primarily in Prague, Czech Republic. Approximately 78% of CPIPG's properties are located in the Czech Republic and Berlin, with the remaining assets in Hungary, Poland, Slovakia, Croatia,[10] Switzerland,[11] France, Italy, Romania and Russia. The founder and majority shareholder, Radovan Vítek and investment vehicles controlled by him hold 91.5% of CPIPG S.A. shares,[12] and became the majority owner of the company in 2014.[13]

CPI Property Group
TypeS.A.
ISINLU0251710041
IndustryReal estate
Founded1991
Headquarters
Luxembourg City
,
Luxembourg
Area served
  • Czech Republic
  • Germany
  • Hungary
  • Poland
  • Croatia
  • Slovak Republic
Key people
  • CEO Martin Němeček
  • CEE Zdeněk Havelka
  • CFO David Greenbaum
Revenue
  • €604.86 million (2018)
  • €438.41 million (2017)
  • €7,502 million (2018)
  • €1,011 million (2017)
  • €315.20 million (2018)
  • €272.44 million (2017)
Total assets
  • €8,323 million (2018)
  • €7,529 (2017)
OwnerRadovan Vítek (91.75%)
Number of employees
3,566 (2018)
Subsidiaries
  • ORCO
  • Czech Property Investments
  • Gewerbesiedlungs-Gesellschaft mbH
  • SUNČANI HVAR d.d
Websitecpipg.com
Footnotes / references
[1]

Company

CPI Property Group (“CPIPG”) owns and operates a diversified real estate portfolio valued at €7.5 billion at year-end 2018.[14] The Company's total asset value exceeds €8 billion,[15] with €160 million funds from operations (FFO)[16] and a net loan-to-value (LTV) under 37%.[17] In 2018, Czech Republic 51% of the company was located in Czech Republic and 27% in Berlin with land bank and development accounting for 9% of the total portfolio.[18][19][20]

History

The history of the former CPI a.s.dates back to 1991.[21][22] Throughout the 1990s the company expanded its business abroad through acquisitions in Central Eastern Europe. CPI a.s. became a real estate group covering a wide range of business domains, from office buildings and shopping centres to residential and industrial districts, and real estate development. The company acquired a residential portfolio of 12,500 units in the Czech Republic, which is currently operated under the CPI Byty brand.[23] In 2002, the company issued its first bonds on the Czech market.[24] In 2013, the company expanded by its acquisition of the investments and development company ABLON Group Limited,[25] which owned a significant property portfolio in CEE. In 2007, the Group acquired a majority interest in Gewerbesiedlungs-Gesellschaft mit beschränkter Haftung (GSG), a real estate group with a property portfolio located exclusively in Berlin.[26] In 2016, the Group acquired a majority stake in Sunčani Hvar d.d. (SHH), a hotel company operating on the island of Hvar, Croatia; a majority stake in Orco Property Group (OPG) and CPI Hotels, a.s. (CPI Hotels), a hotel operator which operates 29 of the Group's hotels situated in the Czech Republic, Slovakia, Poland and Hungary. In 2017, the Group acquired a retail portfolio of 11 shopping centres located in Czechia, Hungary, Poland and Romania with a total leasable area of approximately 265,000 sqm from CBRE Global Investors.[27]

CPI Property Group was created by merging Czech Property Investments with Orco, after a hostile takeover.[28][29]

References
  1. CPI PROPERTY GROUP – Publication of Profit and Credit Estimates (PDF)
  2. "Company Overview of CPI Property Group S.A." www.bloomberg.com. Retrieved 2019-02-19.
  3. "Portfolio". CPI - Czech Property Investments, a.s. Retrieved 2019-02-19.
  4. "CPI Hotels, a.s - Our Official Website". CPI Hotels, a.s. Retrieved 2019-02-19.
  5. "Suncani Hvar Hotels | Best hotels in Hvar Croatia | Official website". www.suncanihvar.com. Retrieved 2019-02-19.
  6. "CPI BYTY, a.s." cpibyty.cz. Retrieved 2019-02-19.
  7. "Základní oblasti naší činnosti | Spojené farmy a.s." www.spojenefarmy.cz. Retrieved 2019-02-19.
  8. "Portfolio". CPI - Czech Property Investments, a.s. Retrieved 2019-02-19.
  9. "Portfolio". CPI - Czech Property Investments, a.s. Retrieved 2019-02-19.
  10. "Suncani Hvar Hotels | Best hotels in Hvar Croatia | Official website". www.suncanihvar.com. Retrieved 2019-02-19.
  11. "Crans-Montana". www.crans-montana.ch. Retrieved 2019-02-19.
  12. "Japan Credit Rating Agency, Ltd. (JCR) announces the following credit rating" (PDF). jcr.co.jp.
  13. "Euro Medium Term Note Programme Description of the Issuer" (PDF). jpx.co.jp.
  14. GmbH, finanzen net. "DGAP-News: CPI PROPERTY GROUP - Publication of Profit and Credit Estimates - 15.02.19 - BÖRSE ONLINE". www.boerse-online.de. Retrieved 2019-02-19.
  15. "FE Investegate |CPI Property Group Announcements | CPI Property Group: Publication of Profit & Credit Estimates". www.investegate.co.uk. Retrieved 2019-02-19.
  16. "DGAP-News: CPI PROPERTY GROUP - Publication of Profit and Credit Estimates | 15.02.19". finanzen.at. Retrieved 2019-02-19.
  17. MarketScreener. "CPI PROPERTY : Publication of Profit and Credit Estimates | MarketScreener". www.marketscreener.com. Retrieved 2019-02-19.
  18. Bourse, Zone. "CPI PROPERTY GROUP SA : News et Informations Boursières | O5G | LU0251710041 | Zone bourse". www.zonebourse.com (in French). Retrieved 2019-02-19.
  19. "CPI PROPERTY AKTIEN News | A0JL4D Nachrichten". FinanzNachrichten.de (in German). Retrieved 2019-02-19.
  20. "CPI Property Group S.A. Provides Financial Guidance for the Full Year Ended December 31, 2018". www.bloomberg.com. Retrieved 2019-02-19.
  21. "CPI - Czech Property Investments, a.s." www.cpias.cz. Retrieved 2019-02-19.
  22. "About us". CPI - Czech Property Investments, a.s. Retrieved 2019-02-19.
  23. "CPI BYTY, a.s." cpibyty.cz. Retrieved 2019-02-19.
  24. "About us". CPI - Czech Property Investments, a.s. Retrieved 2019-02-19.
  25. "ABLON Group Ltd Company profile". www.bloomberg.com. Retrieved 2019-02-19.
  26. "JCR Issuer Report" (PDF). jcr.co.jp.
  27. "History of the Issuer" (PDF). jcr.co.jp.
  28. "Executive Profile Radovan Vitek". bloomberg. Retrieved 12 November 2015.
  29. "Radovan Vitek". Forbes. Retrieved 11 November 2015.
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