In H1 2019, Unibep recorded a decrease in profit and sales revenues compared to the corresponding period of the previous year. However, these results are in line with the expectations of the company’s management board, which counts on a significant improvement in the second half of this year.
Decrease in profit and revenues
In H1 2019, Unibep recorded PLN 6.51m consolidated net profit attributable to equity holders of the parent company, compared to PLN 23.56m profit a year earlier. This means a 72% decrease y-o-y. Also, sales revenues in January-June 2019 decreased to PLN 724.61m from PLN 814.32m a year earlier (down by 11% y-o-y).
In his letter to shareholders, CEO Leszek Gołąbiecki stressed that the results achieved are in line with the Management Board’s expectations and are a result of the transfer of most units and apartments in the first half of 2018, while in 2019 the transfer of most of the real estate will start in the second half of the year.
2 bn in the order book
In its portfolio of orders in the construction and infrastructure part, Unibep has contracts worth approximately PLN 2 bn, including PLN 850m in the second half of 2019. The Company is already working on contracts for the next year and subsequent years. Its objective is to maintain a safe and diversified portfolio. In addition, the priority of the company is the absolute punctuality of all contracts, while taking care of the highest quality of services, stressed Leszek Gołąbiecki.