Victoria Dom at a loss in H1 2019

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In H1 2019, the developer Victoria Dom recorded a net loss of PLN 9.9m and revenues of PLN 14.3m. The company maintains its plan to reach the level of 1,500 signed development contracts at the end of 2019.

Greater loss

In H1 2019, the company recorded a net loss of PLN 9.9m, compared to a loss of PLN 3.5m in the corresponding period of last year, the company reported in the report. Revenues from sales in H1 2019 amounted to PLN 14.3m compared to PLN 11.4m a year earlier. This means an increase in revenue by 25% y-o-y.

The results achieved in the first half of the year are the result of a small number of handovers of apartments in this period, Waldemar Wasiluk said. The planned takings of 1,300 flats will be completed in the second half of this year.

The developer assumes that in the whole 2019 it will reach over PLN 400m in revenues and about PLN 90m in net profit, added Wasiluk. The company maintains its plan to reach 1,500 signed development contracts at the end of the year, which will mean an over 40% increase in comparison to 2018.

Sales of apartments

In Q2 2019, the developer recorded sales of 380 flats, compared to 181 units in the same period last year. This means an increase of about 110% y-o-y. This is a record-breaking result in the history of the company. In the entire first half of 2019, the developer sold 745 units, compared to 375 units in H1 2018.

Wide range of sales offer

At the end of June 2019. Victoria Dom offered 17 projects in nine locations with a total of 2,200 units. Over 80% of this number has already been contracted. More than half of the apartments currently under construction are planned to be delivered to customers before the end of 2019.

Another nine investments in existing and new locations will be commenced and approx. 1,000 apartments will be put on sale during the current year.