One United Properties posts a consolidated turnover of EUR 285.5 mln and a gross profit of EUR 88.6 mln in 2024

One United Properties (BVB: ONE), Romania’s leading green developer of residential, mixed-use, and office real estate, recorded a preliminary turnover of EUR 285.5 mln in 2024, gross profit of EUR 88.6 mln, while the net profit for the year stood at EUR 76.7 mln.

“Over the past five years, One United Properties has transformed from a high-end residential developer into Romania’s leading premium real estate company. Our total assets have more than tripled since 2020, while our equity has quadrupled, reflecting disciplined growth and financial resilience. Despite complex and challenging market conditions in 2024, we have delivered strong results, while keeping a conservative loan-to-value ratio of 27%. Without a doubt, we wouldn’t be here without the support of our shareholders, whose trust has fueled our expansion. In 2024, we successfully raised 68.3 million euros from our investors, capital which will allow us to scale our business efficiently even further, and to seize new opportunities. 2025 will be our most active year to date, with record deliveries and further expansion of our commercial portfolio. Looking ahead, we remain focused on scaling our business efficiently, seizing new opportunities, and continuing to deliver value to all our stakeholders,” said Victor Căpitanu, Co-CEO of One United Properties.

Revenue from the residential segment reached EUR 223.1 mln in 2024, a 2% year-over-year decrease as more projects transitioned into later construction phases, where revenue is recognized more gradually. However, net income from residential properties increased by 6% year-over-year to 65.2 million euros, reflecting higher sales margins as developments progress and sales prices increase and translated to a higher net margin from residential sales, which rose from 26.9% in 2023 to 29.2% in 2024.

Rental income, which includes revenues from the commercial division and tenant services, rose by 17% YoY, reaching EUR 30.4 mln in 2024. Net rental income increased by 24% year-over-year to EUR 20.7 mln, reflecting higher occupancy rates and strong tenant demand. Over the course of 2024, One United Properties leased and pre-leased 12,850 square meters of office and retail spaces and signed multiple contract extensions covering 7,120 sqm, reinforcing the superior quality of its commercial portfolio. The financial impact of these leases will be reflected in future rental income growth.

Despite significant development activity which spanned 13 active construction sites, One United Properties closed 2024 with a cash position of 86.8 million euros, up 3% year-over-year, supported by strong collections from residential sales and pre-sales, which amounted to EUR 173.8 mln, and the successful EUR 68.3 mln share capital increase finalized in Q3 2024.