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One United Properties targets turnover of EUR 349.9 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.
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SHIJIAZHUANG, China, Jan. 8, 2025 /PRNewswire/ — A news report from Great Wall New Media — Steel is the primary pillar industry of Hebei Province. Relying on abundant resource endowments, a complete industrial chain, and modern technological advantages, Hebei’s steel industry has gradually formed an industrial cluster centered around Tangshan, Handan, Shijiazhuang, Chengde, and other key areas.
In recent years, Hebei has been actively promoting the steel industry’s transition towards intelligence, sustainability, and internationalization. Its products are widely exported to 20 countries and regions, becoming a crucial support for infrastructure construction in Belt and Road countries.
Today, let’s follow Xiao Wan from France to unlock the secrets of steel.
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Fintech PR
JLL APAC Applauded by Frost & Sullivan for Enhancing Property Performance and Delivering Customer Value in Real Estate
JLL APAC’s deep industry expertise, state-of-the-art capabilities, and customer-driven approach position it to redefine the FM industry and reinforce its leadership.
SAN ANTONIO, Jan. 8, 2025 /PRNewswire/ — Frost & Sullivan recently researched the facility management industry and, based on its analysis, recognizes Jones Lang LaSalle (JLL) Asia-Pacific (APAC) with the 2024 Asia-Pacific Company of the Year Award. The company is a global real estate leader that helps enterprises optimize real estate strategies to meet their operational needs and business goals. The company offers comprehensive solutions and services across the real estate spectrum, including integrated facility management (IFM). With its innovative, cutting-edge solution suite, JLL APAC enhances property performance, fosters ideal work experiences, and delivers value for clients spanning multiple industries, such as finance, government, information technology, and manufacturing. It integrates advanced technology, leverages scientific insights, and designs sustainable spaces to drive innovation and deliver significant customer value. The company goes beyond traditional FM practices, exploring neuroscientific principles to develop its innovative solutions.
JLL APAC’s Work Science initiative studies unique individual work patterns and diverse cognitive styles to power its human-centric workspace designs and create optimal work environments. It enhances workforce productivity, collaboration, and employee well-being and satisfaction. Aimed at helping C-suite executives and senior leaders tackle complex challenges and drive their organizations forward, the value-added JLL Future Labs service curates immersive, multi-sensory collaboration experiences that foster innovative thinking and synergy and accelerate decision-making. JLL APAC leverages artificial intelligence (AI) and machine learning to unify operations among diverse facility management stakeholders and eliminate data silos, enhancing collaboration and decision-making toward optimized building performance. Its comprehensive AI-enhanced JLL Serve FM application streamlines operations, automates processes, digitizes maintenance and reporting, and provides real-time visibility to optimize building usage, minimize costs, save time, and boost returns.
Janice Wung, industry principal at Frost & Sullivan, observed, “JLL APAC’s bold approach to exploring innovative insights beyond traditional FM scope, such as neuroscientific principles, enhance its solutions and deliver impactful results. Its foresight in technology integration is a key differentiator, empowering the company to remain at the forefront of the industry and capitalize on emerging market opportunities.”
JLL APAC’s Smart Building Platform helps clients enhance operational performance with real-time and remote asset monitoring, enabling continuous oversight, rapid problem detection, predictive maintenance, and improved occupant comfort. The platform drives cost optimization, enhances operational efficiency, and promotes sustainability while ensuring occupant comfort and safety. JLL APAC’s expert integration of the Internet of Things, big data, and intelligent technology enhances service excellence, promoting sustainability and propelling the FM industry into the future. Furthermore, its world’s first large language model specifically for the commercial real estate industry, the JLL Generative Pre-trained Transformer (JLL GPT) AI platform, performs comprehensive multi-source data analytics to provide clients with intelligent insights that drive informed strategies and enhance returns. JLL APAC’s customer-centric and collaborative approach, deep expertise, and reliability in addressing client pain points resulted in an impressive global Net Promoter Score of 100%, establishing a new regional record. Regardless of macroeconomic and business conditions, its steady growth momentum positions it to thrive and continue expanding its market presence.
“JLL APAC prioritizes mutual interests to drive value creation and sustainable growth for all stakeholders involved, redefining business partnerships in the FM industry. By adopting progressive, customer-centric strategies and fostering enduring relationships through collaboration, value creation, and service excellence, JLL APAC is well-positioned to lead the FM industry into the future,” added Rubini Kamal, best practices research analyst at Frost & Sullivan. With its strong overall performance, JLL APAC earns Frost & Sullivan’s 2024 Asia Pacific Company of the Year Award in the facility management industry.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, megatrends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact us: Start the discussion.
Contact:
Tarini Singh
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About JLL APAC
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, please visit www.jll.com
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Fintech PR
PostEra announces expansion to $610M in their AI drug discovery collaboration with Pfizer
BOSTON, Jan. 7, 2025 /PRNewswire/ — PostEra, a biotechnology company specializing in machine learning for preclinical drug discovery, today announced an expansion of their partnership with Pfizer. The parties will launch a new Antibody-Drug-Conjugate (ADC) collaboration while also expanding their existing $260M AI Lab collaboration, which itself was built upon a successful Generative Chemistry partnership.
The teams will leverage PostEra’s AI platform, Proton, a pioneering innovation in generative chemistry and synthesis-aware design, to advance several programs. These new programs include small molecule therapeutics as well as ADCs, where PostEra will use Proton to optimize properties of payloads.
PostEra will receive an upfront payment of $12M and is eligible to receive additional milestone payments and tiered royalties on any approved products arising out of the collaboration.
Over the last 3 years, as part of the AI Lab, PostEra and Pfizer scientists have partnered closely to advance several small molecule programs. After Pfizer nominated the maximum number of programs, the teams have agreed to expand the collaboration to include additional targets with PostEra receiving additional upfront payment and eligibility for milestones and royalties.
“We’re pleased to significantly expand the use of PostEra’s Proton platform. This builds on peer-reviewed publications with Pfizer validating the real-world impact of AI-driven drug discovery in hitting preclinical milestones faster than anticipated,” said Alpha Lee, Chief Scientific Officer of PostEra. “This third partnership with our long-term collaborators at Pfizer underscores Proton’s depth and strength in making a meaningful impact on real-world drug discovery campaigns,” added Aaron Morris, CEO of PostEra.
About PostEra
PostEra is building a modern 21st century biopharma. We use Proton, our AI platform for medicinal chemistry, to accelerate the discovery of new medicines for patients. PostEra is advancing an internal pipeline while also advancing small molecule programs through partnerships with biopharma. We’ve closed over $1Bn in AI partnerships including 4 multi-year agreements with Pfizer and Amgen. PostEra is also leading an antiviral drug discovery center for pandemic preparedness, funded by one of the largest grants in NIH history.
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