IØ GENERATED A HIGH PROFIT IN 2010
The Investment Fund for Central and Eastern Europe (IØ) generated net income of DKK 279m in 2010. This is the third highest net income ever. Due to a government decision IØ stopped making new investments in 2010.
In 2010, IØ contracted investments of DKK 44m in eight projects, of which DKK 24m was made in three new projects – all in the Russian Federation. The Fund also made additional investments in five existing projects (one in Russia and four in Ukraine) for an amount of DKK 20m.
IØ generated net income of DKK 279m in 2010.
In 2010, the Danish government decided that the phasing out of IØ should be accelerated by increasing the capital extraction from IØ in the years 2011 to 2013. As a result, no further investments will be made by IØ, except those that still have a clearance in principle, and are deemed feasible and fall within the remaining IØ budget.
The character of IØ’s work thus changed during 2010 towards portfolio management.
At the end of 2010, IØ had an active portfolio of 73 projects.
For further information please contact Head of Communication Rune Nørgaard, tel. +45 33 63 75 60
The Annual Report 2010 can be found here