CPI Property Group

CPI Property Group
Company type	S.A.
Traded as	FWB: O5G
ISIN	LU0251710041
Industry	Real estate
Founded	1991
Headquarters	Luxembourg City, Luxembourg
Area served	Czech Republic; Germany; Poland; Hungary; Italy; Other CEE; Western Europe;
Key people	CEO Martin Němeček; COO Zdeněk Havelka; CFO David Greenbaum;
Revenue	€623 million (2020); €672 million (2019);
Operating income	€403.6 million (2020); €816.1 million (2019);
Net income	€243.6 million (2020); €684.6 million (2019);
Total assets	€11,801 million (2020); €10,673 million (2019);
Owner	Radovan Vítek (93.59%)
Number of employees	2,278 (2020)
Subsidiaries	ORCO; Czech Property Investments; Gewerbesiedlungs-Gesellschaft mbH; SUNČANI HVAR d.d;
Website	cpipg.com
	Footnotes / references;

CPI Property Group (“CPIPG”) is a real estate landlord of commercial property focused on the Czech Republic, Berlin, Warsaw and the Central & Eastern European (CEE) region. It was founded in the Czech Republic in 1991.

The company's headquarters are in Luxembourg, and its shares are listed on the Frankfurt Stock Exchange.

Radovan Vítek is the founder and majority shareholder of the company, holding approximately 89.29% of CPIPG's voting rights directly and through vehicles controlled by him. Clerius Properties (affiliate of Apollo Funds) owing 5.58%.

CPIPG's owned real estate portfolio is valued at €18.6 billion (as at 30 June 2024), comprising more than 600 commercial properties, over 8,000 international and local tenants, and exposure to multiple geographies and property segments. CPIPG’s portfolio is split as follows: office assets (46% of the total portfolio by value), primarily in central European capital cities such as Berlin (GSG Berlin) Prague, Warsaw, Bucharest and Budapest; retail assets (26%), primarily in the Czech Republic; residential assets (7%), mainly in the Czech Republic; hotels and resorts (5%); and complementary assets (16%), primarily comprising land bank, development properties and industrial and logistics properties. CPIPG's properties generated over €796 million of net rental income the full year ended 31 December 2023, up 25.9% up from the previous year, net business income rose to €874 million. As at the end of H1 2024, properties had high occupancy rate of 91.3%.

In November 2023, CPI Property Group appointed David Greenbaum, CFO of the Group since 2018, to CEO and managing director and was co-opted to CPIPG’s board of directors.

CPIPG's board of directors consists of three independent directors (Edward Hughes, Omar Sattar, and Jonathan Lewis), two non-executive members (Philippe Magistretti, Tim Scoble as Apollo representative) and three members of management (David Greenbaum, Tomas Salajka, and Oliver Schlink).

CPIPG has issued more than €8.7 billion (equivalent) of bonds in eight different currencies on the international capital markets.