Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Orco Tumbles to Record as Widening Loss Prompts Liquidation Bets

Orco Property Group SA fell to a record as a widening loss added to speculation the East European real-estate developer will go out of business.

The stock slumped 15 percent to 1.06 euros at 3:39 p.m. in Paris, the lowest level since it began trading in 1991, valuing the company at 121.4 million euros ($167 million). More than 2 million shares changed hands, almost six times the three-month daily average.

Orco’s net loss increased to 227 million euros last year from 42 million euros in 2012 as the company booked 193 million euros of writedowns, the Luxembourg-based company said in a statement today. Asset sales and a business revamp are needed to stem “critical liquidity risks” while a loss of majority control in its profitable Orco Germany SA unit earlier this month will weigh on future earnings, the developer said.

“The probability that the whole company will be liquidated keeps growing as Orco Germany, its most profitable arm, will no longer be part of it,” Miroslav Frayer, an analyst at Komercni Banka AS in Prague, wrote in an e-mailed report today.

Orco fell 12 percent to 29.30 koruna in Prague, the lowest since the shares were cross-listed on the Czech bourse in 2005.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.