News

EEII's net asset value benefited from the positive sentiment in the Russian and Ukrainian equity market during the first half year 2010. EEII's net asset value per share (NAV) increased by 13.3 % from CHF 13.75 to CHF 15.58.

In absolute terms, EEII reports a net profit of CHF 2.8 million (H1 2009; net profit of CHF 3.9 million). The biggest contribution to this result comes from the holding Ukrnafta, the leading Ukrainian oil company, which gained almost 50 % or more that CHF 4,6 million. The other big holding, Gazprom, lost in the same period CHF 2,1 million in value. The share prices of the holdings in Ukrainian electricity generation companies also showed a strong performance and the value rose 55%. The distribution companies - the so-called Oblenergos - had a comparably modest first half year 2010 and gained 8 %.

The board of EEII is convinced that the equity investments of EEII still are a good opportunity to further participate in the economic upswing and the ongoing political reforms in countries like the Ukraine and Russia.

For further details also see the half-year report 06-30-2010.