Impact, revenue and profit down in the first nine months of the year, but outlook is good

Redacția nov. 15, 2021 0 comentarii
greenfield, impact

Impact Developer & Contractor saw a 51% increase in the number of homes contracted in the first nine months of the year compared to the same period last year. As a result, pre-sales and reservations were concluded for 379 housing units with a total value of €40.9 million. The company achieved sales of RON 109.5 million and a gross profit of RON 36 million in the nine months of 2021, down from revenues of RON 135.3 million and gross profit of RON 51 million in the same period of 2020.

The company had, at the end of the first nine months of the year, building permits for 1,264 apartments in Greenfield Băneasa in Bucharest and 359 homes in Boreal Plus in Constanța. At the same time, the company is at an advanced stage of authorization for a further 2,655 units, thus forecasting a doubling of construction volume in the near future.

As part of its expansion strategy in other major cities of the country, the company owns approximately 73.5 hectares of land in Bucharest, Constanta, Iași and Oradea, on which it is developing 6 projects: Greenfield Băneasa (expansion, Bucharest), Boreal Plus (Constanta), Greenfield Copou (Iași), Luxuria CityCenter (Bucharest), Greenfield West (Bucharest) and Lotus (Oradea).

The projects total some 12,404 apartments with an approximate market value of €1.8 billion, of which 906
million are estimated to be invested between 2022-2027.

“We are getting closer to achieving another goal in our medium-term development plan, which has certainly increased the attractiveness of the Greenfield Băneasa complex: the completion of the largest community center in a residential neighborhood. It includes an extensive network of shops that will meet the immediate needs of the community, an impressive wellness area with a 1,114 sqm gym, spa facilities, tennis courts, squash courts, spinning room, semi-Olympic pool and swimming pool.
swimming pool. In September, planning permission was also issued for the first public school and kindergarten to be built in a new residential development and expected to serve the entire community from the 2023-2024 school year. These new educational facilities will be built to European standards and will accommodate 780 children in secondary school and 150 children in kindergarten” said Constantin Sebeșanu, CEO Impact Developer & Contractor.

Between January and September 2021, Impact has transacted 145 apartments, including 121 apartments in the Luxuria Residence complex in Expoziției, 21 units in Greenfield Băneasa and 3 apartments in other projects developed by Impact in the past. As of 30 September 2021, 99% of the apartments completed in the northern neighborhood Greenfield Băneasa were sold.

The company is at the beginning of a new development strategy, which aims to develop in parallel in at least six locations across the country in various areas with potential. Through its wide geographical coverage Impact will continuously deliver apartments to BREEAM Excellent and nZEB sustainability standards (for projects licensed from 1 January 2021), which offer a high level of housing quality while protecting the environment.

Despite being at the beginning of the production cycle for most of the projects under development, and thus having a low stock of completed housing, the company recorded revenues of €22.29 million in the first 9 months of the year and a profit of €7.33 million.

In order to consolidate its activity in line with its development strategy, Impact increased its share capital to 393.75 million lei in June by incorporating capital premiums and part of the retained earnings. By the end of the year, Impact will increase the number of units under development to 2,500, thus building the basis for the implementation of its strategy of
published on the company’s website, which calls for the development of 10,000 apartments over the next 6 years, most of them in Bucharest. To do this, the developer announced on the BVB that it will build 1.25 million square meters, with an investment of 1.4 billion euros.

Sursa foto: Impact SA

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