The Unibep Group published its results for the three quarters 2024
Approx. PLN 1.83 billion in revenue (approx. 0.4% less year-on-year), PLN 106 million in net profit (compared to a loss of approx. PLN 17.5 million last year), and an order portfolio worth approximately PLN 3.5 billion (approx. PLN 3.1 billion in 2023). These are the figures for the three quarters of 2024 published by the Unibep Group on the Warsaw Stock Exchange.
The consolidated operating profit amounted to PLN 159.1 million, marking a significant improvement compared to an operating loss of PLN 1.1 million in the corresponding period of the previous year. The Group’s net profit for the analysed period of 2024 reached PLN 106 million, while the net profit attributable to the shareholders of the parent company amounted to PLN 46.5 million, compared to a loss of PLN 30.5 million recorded in the corresponding period of 2023.
The results of the Group Unibep were positively impacted by a one-time effect from operations related to the reclassification and fair value valuation of selected land properties. The operating result, excluding these operations, amounted to PLN 55.9 million, indicating a significant improvement in profitability compared to the fourth quarter of 2023, when the Group incurred losses in the construction and modular segments.
“In the first three quarters of 2024, we implemented key organisational changes that improved our ability to manage risks, strengthened communication in construction projects, and enhanced our responsiveness to potential deviations from plans. Despite the challenging market conditions, we consistently pursue a selective contract acquisition policy, which, while it may temporarily limit growth dynamics, will contribute to a lasting improvement in operational profitability,” said Dariusz Blocher, President of Unibep.
In the first three quarters of 2024, the Unibep Group secured new construction contracts worth a total of over PLN 1.4 billion, which increased the value of the order portfolio to be completed in subsequent periods to approx. PLN 3.5 billion, i.e., 13% more compared to the corresponding period of the previous year. Currently, the value of contracts pending signature is approximately PLN 0.5 billion.
“The Management Board of Unibep SA, as well as the management boards of the subsidiaries forming the Unibep Group, will continue their selective contract acquisition policy in the coming periods, particularly in the construction segment, focusing on contracts with optimal economic value and results. On the one hand, such a policy might slightly limit the growth dynamics of construction activities; on the other hand, it will definitely and positively contribute to further improvements in operational profitability in future reporting periods. In the modular construction sector, we are currently working intensively on the effective penetration of the Polish market to secure new contracts, given the weaker condition of foreign markets (Germany and Norway). In the development segment, the Management Board will continue to implement sales plans in accordance with the schedules for the execution of individual projects, as well as a carefully considered pricing policy for individual clients," said Andrzej Sterczyński, Chief Financial Officer and Board Member of Unibep SA.
The full report of the Unibep Group for the three quarters is available HERE