IMPACT Developer & Contractor (Impact) achieved revenues of 98 million RON at group level in the first semester of 2024, up 65 percent compared to the same period last year. The gross profit recorded is 30.9 million RON, 68 percent higher than in the first half of 2023, while the gross margin increased to 32 percent.
The increase in revenues is due to the sale of more expensive residential units in the portfolio and the expansion of the activity of the companies in the group. In the first half of 2024, the value of real estate sales increased by 13 percent compared to the same period last year, from 53.7 million RON to 60.7 million RON.
The LUXURIA Residence compound, located in District 1 of the Capital, had the largest contribution to the revenues from real estate sales. Being 92 percent sold, it recorded a 23 percent increase in sales volume, respectively a 46 percent increase in sales value, compared to the same period last year. The most expensive units sold in this residential compound in the first half of the year were worth 432,000 euro and 575,000 euro.
In BOREAL Plus, the residential compound located in the north of Constanta, sales remained constant, the best-selling units being the two-room apartments (60 percent).
In GREENFIELD Baneasa, the well-known neighborhood embraced by the forest, a new phase of the project, with 732 apartments, had the reception with the authorities in April and is in the process of being tabulated. Of these, the pre-sold homes are to be handed over to the owners starting this autumn.
As of June 30, 2024, IMPACT had 353 pre-sold and reserved homes, with a package value of 199 million RON. Of these, 332 units will be converted into sales during the year and will generate revenues of 190 million RON. Over 97 percent of these units are in the new phase of the GREENFIELD Baneasa compound.
The market value of the IMPACT group’s net assets as of June 30, 2024 is RON 1.27 billion, and the debt ratio remained stable at 29 percent.
As of June 30, 2024, IMPACT had building permits for 2,693 units in Bucharest, Iasi and Constanta, with an estimated market value of RON 1.9 billion. Of these, 732 units in GREENFIELD Baneasa have already had the reception with the authorities in April.