Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Fintech PR

One United Properties targets turnover of EUR 349.9 million and gross profit of EUR 123.5 million in 2024

Published

on

one-united-properties-targets-turnover-of-eur-3499-million-and-gross-profit-of-eur-123.5-million-in-2024

BUCHAREST, Romania, March 25, 2024 /PRNewswire/ — One United Properties (BVB: ONE), the leading green developer of residential, mixed-use and office real estate in Romania, proposes to the shareholders consolidated turnover target for 2024 of EUR 349.9 million, a 14% increase compared to the 2023 result and a result from operating activity of EUR 137.5 million, a 21% increase driven by higher sales of residential property. The consolidated gross profit target is EUR 123.5 million, 15% higher than the result for 2023, while the net profit is estimated to reach EUR 105 million in 2024, a 16% increase versus 2023, with the net margin expected at 30%.

“We anticipate strong growth for the real estate sector, particularly in Bucharest. Government forecasts suggest Romania’s GDP will hit EUR 350 billion by 2024. With Bucharest historically contributing over 28% to the national GDP, we expect the capital’s economic output to be approximately EUR 98 billion in the same year. This projection underscores the exceptional growth potential of our city – a potential that aligns with the ambitious objectives we have set for One United Properties. Our aim is to double our business by 2030 and quadruple it by 2035, capitalizing on Bucharest’s favorable development trajectory and our dedication to delivering high-quality, sustainable housing. The ambitious targets we have set for 2024 serve as critical milestones on this path,” stated Andrei Diaconescu, co-CEO at One United Properties.

The revenues from residential property sales are targeted to reach EUR 285 million in 2024, a 25% increase compared to the 2023 result. The net income from residential property is expected to surge by 68% to EUR 107.1 million, with the net margin on residential sales projected to improve by approximately 10 percentage points to 37.6%. This growth is attributed to strong sales performance and the progression towards completion of current development projects, in line with the revenue recognition policy applied by the Group.

As of January 1st, 2024, One United Properties’ sales team had 1,415 units available for sale or pre-sale. Depending on sales progress and demand, an additional 1,181 units in One Lake District and approximately 1,300 units in One Cotroceni Towers could be added to the portfolio.

Rental revenue, including income from tenant services, is estimated to reach EUR 35.3 million in 2024, a 36% increase from the previous year. This growth rate is more moderate than in previous years due to the sale and pre-sale of four non-core rental assets in 2023, aligning with the company’s strategy to concentrate on large-scale mixed-use developments.

In support of its growth ambitions in Bucharest, One United Properties is exploring potential equity and debt transactions over the next three years. At the forthcoming General Shareholder Meeting, to be held on April 25th, the shareholders will vote on a proposal to remove preferential rights for a share capital increase of up to 20%. This move aims to facilitate potential Accelerated Bookbuilding (ABB) transactions to raise new capital that will fuel further development.

Our sustained low leverage, alongside the growth of our development portfolio, is a testament to our operational prowess, robust financial foundation, and prudent management. We take pride in the fact that, since our IPO, the market has recognized this distinct advantage, rewarding our shareholders with a total return of 27% in EUR terms. This achievement is particularly notable as it contrasts with the 37% decline in the EPRA index, a downturn attributed to the rising cost of capital. As a result, we have managed to outperform the broader European real estate market by a substantial 64%. Moving forward, we are open to the idea of raising new capital, but only under favourable market conditions and if it aligns with the best interests of our shareholders. We believe the timing for such a move is approaching, supported by the improving investor sentiment towards real estate and growing global interest in the Romanian capital market, driven in part by Romania’s anticipated reclassification from a frontier to an emerging market by MSCI,” shared Victor Capitanu, co-CEO of One United Properties.

Additionally, the company is considering raising debt, with the Board of Directors proposing a potential bond issuance of up to EUR 300 million over the next three years. This strategy aims to optimize financing costs and potentially refinance existing debt with corporate bonds issued at more favourable terms, contingent upon a decrease in interest rates.

In 2023, One United Properties achieved a 30% increase in consolidated turnover, reaching EUR 308.1 million, a record for the group. This growth was driven by a robust residential market, with sales up by 46% year-on-year to EUR 228.5 million, and a 62% increase in rental income, totalling EUR 25.9 million. The gross profit for the year stood at EUR 107.5 million, an 11% increase on a normalized basis from the previous year.

The balance sheet as of December 31st, 2023, reflects One United Properties operational stability and strength, with total assets reaching an all-time high of EUR 1 billion. This includes real estate assets valued at EUR 746.5 million and a solid cash position of EUR 84.6 million. The gross loan-to-value ratio remained stable at 28% at the end of 2023, stable since 2022, proving solid financials and low leverage of the Group compared with the European peers.

For 2023, One United Properties proposes to distribute a total gross dividend of EUR 15.2 million. A first tranche of gross dividends amounting to EUR 7.6 million was already distributed to shareholders on January 31st, 2024. For April 25th General Meeting of Shareholders, the Board of Directors has proposed approval of a second tranche amounting to EUR 7.6 million.

ONE UNITED PROPERTIES (BVB: ONE) is the leading green investor and developer of residential, mixed-use, and commercial real estate in Bucharest, Romania. One United Properties is an innovative company dedicated to accelerating the adoption of construction practices for safe, energy-efficient, sustainable, and healthy buildings, and has received numerous awards and recognitions for its superior sustainability, energy efficiency, and wellness. The company is publicly traded on the Bucharest Stock Exchange, and its shares are included in multiple indices such as BET, STOXX, MSCI, FTSE, ROTX and CEEplus.

Photo: https://mma.prnewswire.com/media/2370251/One_United_Properties.jpg
Logo: https://mma.prnewswire.com/media/2335791/One_United_Properties_Logo.jpg

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/one-united-properties-targets-turnover-of-eur-349-9-million-and-gross-profit-of-eur-123-5-million-in-2024–302097719.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fintech PR

Invitation to presentation of EQT AB’s Q1 Announcement 2024

Published

on

invitation-to-presentation-of-eqt-ab’s-q1-announcement-2024

STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826

The following files are available for download:

https://mb.cision.com/Main/87/3956826/2712771.pdf

Invitation to presentation of EQT AB’s Q1 Announcement 2024

https://news.cision.com/eqt/i/eqt-ab-group,c3285895

EQT AB Group

 

View original content:https://www.prnewswire.co.uk/news-releases/invitation-to-presentation-of-eqt-abs-q1-announcement-2024-302109147.html

Continue Reading

Fintech PR

Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

Published

on

kia-presents-roadmap-to-lead-global-electrification-era-through-evs,-hevs-and-pbvs
  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

Photo – https://mma.prnewswire.com/media/2380039/Photo_1__2024_CEO_Investor_Day.jpg
PDF – https://mma.prnewswire.com/media/2380040/Press_Release__2024_Kia_CEO_Investor_Day_240405.pdf

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/kia-presents-roadmap-to-lead-global-electrification-era-through-evs-hevs-and-pbvs-302109142.html

Continue Reading

Fintech PR

BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

Published

on

biovaxys-technology-corp.-provides-bi-weekly-mcto-status-update

VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

Logo – https://mma.prnewswire.com/media/1430981/BIOVAXYS_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/biovaxys-technology-corp-provides-bi-weekly-mcto-status-update-302108920.html

Continue Reading

Trending