Murapol real estate posts PLN 110.3 mln net profit in Q4 2024, above expectations

Operating profit was PLN 134.1 million (EUR 32.05 mln) against a consensus of PLN 128.5 million (EUR 30.71 mln).

The group recorded sales revenue of PLN 543.9 million (EUR 130 mln), above the PAP Biznes consensus of PLN 526.6 million (EUR 125.86 mln).

Cumulatively, the group had revenues of PLN 1,330.3 million (EUR 317.94 mln) for the full 2024, up 9.4 percent year on year. The group's net profit reached PLN 242 million (EUR 57.84 mln), up 10.4 percent year on year, and operating profit amounted to PLN 293.6 million (EUR 70.17 mln), up 10.3 percent year on year.

In 2024, the group signed 2,914 development and pre-development contracts. The largest number of flats in the development segment was sold in Lodz (623), Poznan (550) and Gdansk (449).

In addition, the group sold 948 units in the PRS (institutional rental) segment, so that the total number of units sold in both segments, i.e. to retail clients and in the PRS segment, reached 3,862 in 2024.

In 2024, Murapol introduced 3,911 regular and investment flats for sale in 13 cities. The group has an active land bank allowing for the construction of 19,344 units.

At the end of December, 7,756 units with a total space of about 318,500 square metres were under construction, as part of 101 buildings in 14 cities. Most Murapol's developments are in Gdansk (2.132 and Lodz (1.556).

After 2024, the cash level (including trust accounts) of the Murapol group amounted to PLN 318.8 million (EUR 76.2 mln), up from PLN 248.2 million (EUR 59.32 mln) after 2023. Net debt reached PLN 293.2 million (EUR 70.07 mln).

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