EBITDA totalled €11.2 million ($9.8 million), representing a margin of 17%. Profit before income taxes and minority interest totalled €7.4 million ($6.5 million), a full 45% increase compared to last year and representing a profit margin of 11%.

'In view of our high rate of expansion, we are very satisfied with the trend in revenues and earnings during 2001, especially given the difficult climate of the second half' commented Stefan Lennhammer, group chief executive at Catella Property Consultants. 'Over the next 12-months period we confidently predict increased client demand for our services, which are based on our ability to blend our broad knowledge of the property and finance markets.'

Catella Property Consultants has expanded rapidly in recent years and currently the company is present in eleven European countries; Austria, Belgium, Denmark, Finland, France, Germany, the Netherlands, Norway, Spain, Sweden and the United Kingdom.