Unibep builder has net profit of PLN 86.5 mln after H1 2024, according to company estimates

Listed builder Unibep ended the first half of 2024 with a net profit of PLN 86.5 million (EUR 20.2 mln), with sales revenue of PLN 1.16 billion (EUR 270 mln), the company said in a report. The results were in line with the company's earlier estimates.

Operating profit amounted to PLN 120.2 million (EUR 28.1 mln) in H1 2024 and was also the same as Unibep's earlier estimates.

In addition, the group's EBITDA profit amounted to PLN 134.5 million (EUR 31.4 mln), against the PLN 41.57 million (EUR 9.7 mln) EBITDA result in the same period of the previous year.

The report states that in H1 2024, the construction segment, which includes the energy and industrial, volume and infrastructure construction sectors, recognised sales amounted to PLN 960 million (EUR 224 mln), a slight overall decrease of 1.3 percent year on year.

On the other hand, sales of the property development segment in H1 2024 amounted to PLN 140.8 million (EUR 32.9 mln) compared to PLN 197.6 million (EUR 46.2 mln) in the same period of the previous year.

As indicated, the decrease in the segment's turnover by approximately 29 percent year on year was in line with the assumptions resulting from the schedules of ongoing development projects.

In addition, in H1 2024, flats were handed over to customers on more profitable projects than in the corresponding period of 2023, as evidenced by the achieved gross sales margin of 31.6 percent compared to 25 percent in H1 2023.

In H1 2024, the Unibep Group secured contracts with a total value of approximately PLN 1.1 billion (EUR 256 mln) within the construction segment. Thus, the portfolio to be realised as of Q3 2024 amounts to approximately PLN 3.7 billion (EUR 864 mln).

mcb/ nl/