Share Name Share Symbol Market Type Share ISIN Share Description
Engel East Europe N.V. LSE:EEE London Ordinary Share NL0000051043 ORD EUR0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1.00p 0.00p 0.00p - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 12.8 -7.0 -8.6 - 0.88

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Date Time Source Headline
12/11/201513:33UKREGKimberly Enterprises N.V. Update re Disposal
02/11/201507:00UKREGKimberly Enterprises N.V. Potential Change of Controlling Shareholder
08/10/201512:55UKREGKimberly Enterprises N.V. Directorate Change
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01/10/2016
09:20
Engel East Europe N.V Daily Update: Engel East Europe N.V. is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker EEE. The last closing price for Engel East Europe N.V was 1p.
Engel East Europe N.V. has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 87,777,778 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Engel East Europe N.V. is £877,777.78.
26/7/2011
08:37
readytotrade: Engel East Europe BUY 21/08/2006 http://www.growthcompany.co.uk/recommendations/28278/engel-east-europe.thtml A healthy set of figures from Central and Eastern European property developer Engel East Europe proves its capabilities and a whopping €1.2bn (£817m) sales pipeline provides an indication of its voracious ambition. The company is focused on residential properties and was established in 2000 as a subsidiary of Israeli property developer Engel Group, whose founder Joseph Engel is chairman and major shareholder of this venture. The company focuses on the Czech Republic, Hungary, Poland, Bulgaria, Serbia and Romania. Since floating on AIM last December with 10,000 units the group has secured nine new sites and, says finance director Nir Netzer, has 'at least 1,000' residential units in each of its territories, apart from pricey Serbia. Of recent deals signed Netzer is excited about one in particular, saying it's 'a lot better than the rest of the market is getting'. Heitman – one of the biggest real estate fund manager in the US, if not the world, with $14bn (£7.7 bn) assets under management – is pouring €22.4m into a second joint venture with Engel. House broker KBC Peel Hunt says such joint ventures, which provide up-front cash, helps Engel expand 'on a hugely cash efficient basis'. Management claim sales prices in much of Central and Eastern European have increased recently and are confident that their 'scope of activity will increase substantially in the near future'. Interim results to June showed net assets increasing 25% to €54.5m and net cash of €36m. Profit before tax of €12.1 was up from €1.8m on revenues up 147% to €23.2m. The company will pay a €0.021 interim dividend too. Previous earnings forecasts put the shares on a forward p/e of 11.1, but KBC has upgraded its pre-tax profit forecasts 21% to €19m for the full year. When earnings numbers are clarified the shares are likely to be on a p/e under 10. Buy. Sector: Construction & Materials Companies: Engel East Europe Market cap: £107.53mPE Forecast: 11.1 Share price: 122.5p Engel profits in the East BUY 06/11/2006 http://www.growthcompany.co.uk/recommendations/29889/engel-profits-in-the-east.thtml Sitting astride a €1.2 billion pipeline of Central and Eastern European property, Israeli-run Engel East Europe is one of the major residential property developers in the region. Finance director Nir Netzer reckons Engel may even be the biggest: 'we are involved in developing around 15,000 residential units and I'm not aware of many with even 10,000.' This helps to explain why it is winning some of the choicest slices of land. For example, Engel won the municipality of Belgrade's bidding round to develop the massive Marina Dorcol project. This will see a prime spot in the city's crowded Old Quarter on the banks of the Danube developed into a mixed-use development of 600 residential units, a shopping mall, restaurants, cafés, offices and a marina. Sales of €160 million are estimated, with remarkable margins of around 60 per cent. 'This is the jewel in the crown of Serbia, so why did the municipality come to Engel? Because we can deliver! From the municipality's point of view it is risky as they don't know the market and their currency is not the most stable. They needed a developer with a track record.' Led by executive chairman and 66 per cent shareholder Jacob Engel, who has 30 years' experience in the industry from building his Israeli business into one of the country's major players, EEE is capitalised at not much more than £100 million and operates in the Czech Republic, Poland, Hungary, Bulgaria, eastern Germany, Romania, Serbia and even, strangely, Canada. Most of these European economies are growing at rates of around five per cent and developers are benefiting from urbanisation and the desire of their more prosperous citizens to move into better housing. In some regions, inflation is driving up house prices too. The company has secured ten new projects since arriving on AIM, to add to its existing projects, with combined sales on these amounting to around €500 million (£336 million). Cash levels stood at €36.1 million at the end of June, although non-bank loans of €12 million have to be repaid. 'We're using our cash slowly and wisely,' says Netzer, 'trying to buy land in return for a percentage of sales – so we're not paying too much [up front].' The Belgrade Marina project also demonstrated one of Engel's techniques for leveraging its own cash and minimising its risk, especially for tying up bigger deals. It sold a 30 per cent stake in the project for €11.9 million to a 'prestigious' emerging markets fund, which Engel estimates will produce pre-tax profits of €9 million. For other large projects Engel has been working with joint venture partner Heitman, a large US investment fund, which has poured in large amounts of money usually in exchange for 50 per cent of sales. Says Netzer: 'We like them as we're not as exposed – we're booking profits from the first day.' Heitman is currently collecting cash for its third fund – so more joint ventures could materialise in the future. Revenues for the first half were up 147 per cent to €23.2 million as the group completed the first phase of projects in Budapest and Warsaw and received the equity investment from the second Heitman joint venture. Profits before tax arrived at €12.1 million, above forecasts because profits were made on apartment sales that were not anticipated until the second half. The group even paid an interim dividend of 0.21c. Future payments may be withdrawn if a 'special opportunity' arises where the company chooses to put a much larger chunk of its own cash into a project, meaning 'shareholders will get a much greater share price,' says Netzer. Upgraded estimates for the full year from house broker KBC Peel Hunt, 46 per cent ahead of forecasts at the time of flotation last December, point to pre-tax profits of €19 million. Netzer boasts that current projects in development, even if not added to, would still easily justify investment in the company – and Mike Foster at KBC agrees. Engel is going to buy more choice parcels of land, moving wherever the margins are best and according to KBC, expanding 'on a hugely cash-efficient basis'. The shares are languishing not much above the float price, which is too low considering the growth delivered and promised. Buy. Companies: Engel East Europe
21/7/2011
16:07
barnsey: Below is what they are actually doing not what some stranger on a b/board says they are doing after viewing his crystal ball. And believe me when they turn this round which they will because there are a lot of big players involved here and they will not let this fail you will be surprised at the share price reaction, for these reasons i am a buyer dyor. CHIEF EXECUTIVE OFFICER'S STATEMENT Gad Raveh Chief Executive Officer Despite the challenging environment, by focusing on key countries and carefully managing our resources, we expect to be able to maintain and expand our development activities and sales in 2011, as well as build a medium and long term strategy for the Group. This will be achieved by our intention to introduce new and innovative real estate activities, development of carefully chosen new sites and management of income producing assets. In doing so, we are implementing our expertise and track record experience, in the search and acquisition of depressed assets that have neglected and hidden high values. In the course of the last 12 months we have seen a slow, but steady positive change in the East European real estate market. There is an ever growing demand for small sized apartments which are affordable to a greater proportion of the population. This demand creates a requirement for a different kind of development of smaller apartments well adapted to the market, which can be developed and sold in a shorter time frame and at an affordable purchase price to a wider market. Whilst this change results in a lower overall level of revenue and profits per unit, these results are compensated by the shorter time required from inception to delivery. In these circumstances, we are tailoring our product to suit the current demand and have moved much of our focus in the light of these market trends, resulting in a lower financial resources requirement and a greater ability to increase our production capacity. Having said that, we have and are moving our attention and part of our action plan, including some of our resources, towards the development of a new division of income producing properties. This will prove to be an important angle, that will complement our traditional development activities, and will assist in our cash flow needs
19/7/2011
21:43
barnsey: Looking at some of the developments you start to realise that these are top quality developers who are very good at what they do who sadly like the rest have been hit by the general downturn in the construction business. Hoping for better times 2011 and thereafter.Worth a look for investors. You get the feeling there is no way they will allow this company to fail and the more you research and see the strength of the group and it's backers you start to think this share price will turn out to be a bargain in years ahead. http://www.viladomyveleslavin.cz/projekt-en.php Locality The Veleslavín quarter was established perhaps as long ago as in the eleventh century, and today it is one of the few areas of Prague that have preserved their character without suffering the greater effects of urbanisation. Therefore, Veleslavín is a pleasant and popular place to live. Veleslavín Villas are located on the quiet Pod Dvorem Street in Prague 6. The surrounding area offers a range of surprisingly picturesque and green places. For example, a chateau with a beautiful park is in the immediate vicinity of the project. The project is connected to the city centre by Evropská Street and metro line A. The new Veleslavín metro station is located only 300 metres from the project; bus and tram stops are only 200 metres away. Prague-Ruzyně Airport is also within easy reach. Veleslavín and its immediate surroundings offer a full range of possibilities for recreation and sporting activities. For example, the Šárka Valley nature reserve, the Džbán natural bathing pool, the SK Aritma sports complex and Sport Centre Evropská, with a broad range of services, are located nearby. Several restaurants offer various types of cuisine and important civic amenities are a matter of course: schools (e.g. the International School – Nebušice), a shopping centre, polyclinic, the Canadian Medical Centre, a pharmacy, post office, petrol station and more. http://www.emiliiplater10.pl/inwestycja.html
14/7/2011
16:06
daniel: A good company with great potential. Expect a take over of the rest of the assets or an octagonal (800%) share price. Smart Israeli company acquiring portfolio in fast recovering Easter European Countries.
13/7/2011
10:53
gdasinv2: 2010 turned profited with 4.5 million ...With further 9 million invstment provided.this year the share price is ublebliveuiable low With Assets more than 15 Million, market cap just under 1 million. Valued 20p just by Asset and 10 p addtional from invstement from... 30p is easily with no risk.
15/7/2010
15:02
daniel: Why does the directors have to wait for the company and it's share price to be utterly decimated before having suspension? This should have prevented a lot of agony for company and investors. The share price is going to re-enter the market substantially higher
06/3/2010
08:03
buystock: Even though there has been no RNS stating the fact, I have spoken to the Company (Engel East Europe) and they have confirmed that Avraham Nota has now been voted in as the new Chairman. If you research his employment history, you will see that he has an excellent wealth of experience in this industry and I for one feel that he is a great addition to the company in these testing times. Why, if the company was looking for wind up would they appoint a new Chairman on 1 Feb 2010? It would appear that they are looking to this chap to provide them with his knowledge and experience in leading this fine company back into the good times. Eastern Europe property markets are picking up and with a few sales of some of their exciting projects, funds will again be available to pay off some of the debt whilst they continue to focus on residential properties in the short term. The share price will IMO move significantly on any positive news as has been the case in the past on this one.Quinlan CEE man joins Engel Central and eastern European residential developer Engel East Europe has appointed Avi Nota, former CEO of developer AFI Europe, as executive chairman Shareholders permitting, Nota will take over on 1 February from Sam Salman and work with CFO and acting CEO Samuel Hibel. Nota set up Quinlan Private's central and eastern Europe operations
05/3/2010
14:11
buystock: my buy 100k 05/03/2010 14:18:40 2.50 24,403 O 610.08 05/03/2010 13:54:21 2.50 50,000 O 1,250.00 05/03/2010 13:00:45 2.33 100,000 O 2,330.00 05/03/2010 10:26:42 2.33 2,071 O 48.25 05/03/2010 09:46:09 2.33 21,460 O 500.02 Even though there has been no RNS stating the fact, I have spoken to the Company (Engel East Europe) and they have confirmed that Avraham Nota has now been voted in as the new Chairman. If you research his employment history, you will see that he has an excellent wealth of experience in this industry and I for one feel that he is a great addition to the company in these testing times. Why, if the company was looking for wind up would they appoint a new Chairman on 1 Feb 2010? It would appear that they are looking to this chap to provide them with his knowledge and experience in leading this fine company back into the good times. Eastern Europe property markets are picking up and with a few sales of some of their exciting projects, funds will again be available to pay off some of the debt whilst they continue to focus on residential properties in the short term. The share price will IMO move significantly on any positive news as has been the case in the past on this one.Quinlan CEE man joins Engel Central and eastern European residential developer Engel East Europe has appointed Avi Nota, former CEO of developer AFI Europe, as executive chairman Shareholders permitting, Nota will take over on 1 February from Sam Salman and work with CFO and acting CEO Samuel Hibel. Nota set up Quinlan Private's central and eastern Europe operations.Quinlan Private to Form Joint-Venture with SCD Group on EUR 450 Million Development at Lake Balaton in HungaryQuinlan Private (´QP´), the leading international property and this is where our new chairman came from they are big player.http://www.qpgolub.com/developments_myvars_4.html
12/8/2009
00:09
bobsidian: "Looking at the company debt, I am not worrying as the amount is not significant at all." In a world where so many construction companies have gone under due to their inability to refinance, that is indeed a brave comment to make. EEE is leveraged to the hilt and has admitted in the notes to its financial statements that it may not be able to realise enough from certain projects to cover their costs. In large part, their costs have become their debt. Financial reporting by its nature tends to accentuate the positives and underplay the negatives unless otherwise compelled to so do. It is noteworthy that unlike quite a few U.K. based housebuilders, EEE has not taken anywhere near the same level of writedowns to its owned land or its stock of property available for sale. It is quite understandable that they would be loathe to do so as just such an exercise could seriously impair key debt and liquidity ratios and trigger an unwinding of the group structure as debt attaches itself to assets held within different subsidiaries and the subsidiaries themselves detach from the group. It takes time to refinance and restructure, of that there is no doubt. But the timing of the clarification of certain elements of its inter-company borrowings is interesting. What triggered the need for such a clarification ? It could not be its share price performance as it has been on a downward trajectory for quite some time. So once again, what was the trigger ? Access to capital markets may have been effectively closed off with there being a distinct absence of willing underwriters to any possible capital raising exercise. Furthermore, the parent company may not have access to sufficient means to effectively preclude dilution of its own stake with unspecified and little understood implications for the group structure as a whole. So to a large extent EEE may be on their own. Any hint at a failure to satisfactorily conclude the sale of the panorama project may spell the end of this entity. "don't understand where these pump and dump discussions come from..." Stockmarket history in general and the AIM listed market in particular is littered with not insubstantial "dead cat bounces" immediately prior to the failure of entities. But equally, and certainly recently, there are shares with exposure to real estate valued at fractions of their apparent underlying worth that have risen like phoenix from ashes - but not without Level 2 signifying more supportive activity than shown on EEE. "my advice, do not affect by what others saying, do your own research and do what you want" Absolutely. But do indeed do your own research - particularly when there are more questions than answers. Momentum and the appearance of momentum are alluring and "pump and dump" exercises rely on that allure. A share to watch as events unfold. All imho.
11/8/2009
13:32
bobsidian: Yes. The share price is being quietly walked back down with large numbers of shares being offloaded. If anyone has a doubt as to the perilous state of the finances of EEE, take a look at the last set of audited financial statements. Take a look at the amount of debt that is falling due for repayment within one year. Then take a look at the security obtained by some of its maturing loans. Suddenly on a calling in of loans the apparent value in the Balance Sheet could easily evaporate. Then take one look at the array of companies forming its corporate structure - Enronesque in its complexity. For one reason or another the parent company has filtered funding through subsidiaries rather than direct to EEE. Why ? Interestingly KPMG appear to have given a clean audit report without seeing the need to comment on going concern - most unusual given that so much of the debt of EEE is falling due for repayment within one year and certainly unusual for the current economic climate and the sector to which EEE has exposure. If you own shares in EEE, exactly what are you owning ? If the corporate structure disintegrates, exactly what are you left with ? Buyer beware. All imho.
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