Impact Developer & Contractor, one of the biggest residential developers in Romania, increased its sales by 54% in 2019 compared to 2018, to RON 156.6 million (EUR 33 mln), the company announced in a report on the Bucharest Stock Exchange.
Moreover, the presales of apartments in the company’s two projects in Bucharest – Greenfield Baneasa and Luxuria Domenii (pictured) – reached RON 146 mln (over EUR 30 mln). The pre-sale contracts should turn into actual sales this year, the company said.
The operational profit (EBITDA) almost tripled compared to 2018, to RON 52 mln (EUR 11 mln) while the net profit went up eightfold to RON 165 mln (EUR 34 mln), mainly due to the unrealized gains from the revaluation of the company’s land inventory.
“For 2020, considering that we are approaching the anniversary of 30 years of activity, we aim for a new expansion phase, by expanding geographically in the main cities of Romania and by diversifying the portfolio of projects,” said Sorin Apostol, CEO Impact Developer & Contractor.
In the 2020-2026 period, Impact plans to develop 6,770 apartments in four projects, in Bucharest, Iasi, and Constanta, with total investments estimated at EUR 716 mln, according to a presentation for investors.
By 2028, the company estimates investments of EUR 1.2 bln. Impact’s main shareholder is Romanian investor Gheorghe Iaciu, who owns 57% of the company’s shares. Impact’s shares surged by 54% over the last 12 months and the company’s capitalization reached 86 mln.
(Photo courtesy of the company)
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