One United Properties posts gross profit of 604 million RON, up 192 percent in 2021

One United Properties, developer of residential, mixed-use and office real estate in Romania, recorded revenues of 1.1 billion RON in 2021, 105 percent increase compared to the 2020 result, a historical milestone for the company. The gross profit surged 192 percent, reaching 603.5 million RON.

“We are thrilled to announce a historical milestone for One United Properties both in terms of revenues, which overpassed 1.1 billion RON, and gross profit of 0.6 billion RON, in the first year since our listing on the Bucharest Stock Exchange. We debuted on the stock exchange having a solid development plan, based on the immense potential of the Bucharest residential and office market, with the intention to continue growing and seize a good part of this potential. In line with our dividend policy, we plan to distribute cash dividend to our shareholders in two semi-annual tranches this year but considering the 36 percent net margin we had in 2021, we will focus on the reinvestment of the majority of the profits to benefit from the growth opportunities in the market and to build additional value for our stakeholders,” said Victor Capitanu, co-CEO at One United Properties.    

Revenues from residential segment amounted to 675.4 million RON in 2021, a 54 percent increase compared to 2020. In 2021, 699 apartments, 926 parking spaces and 69 commercial spaces and other units were sold and pre-sold for a total of 202.2 million euro, a 115 percent increase compared to 2020. In the same period of 2020, the Group sold 184 apartments, 249 parking spaces and 7 commercial spaces and other units for a total of EUR 94 million.

In 2021, One United Properties’ EBITDA grew 181 percent, from 217.3 to 611.7 million RON. The gross result reached 603.5 million RON, 192 percent increase compared to 2020 while the bottom line increased 186 percent, reaching 506.4 million RON.