One United Properties, Romania’s leading green developer of residential, mixed-use, and office real estate, recorded a 10% increase in the profitability of the company’s key segments, which comprise the net income from residential properties and net rental income, while consolidated revenues reached EUR 140.6 million in the first half of 2024. Gross profit stood at EUR 53.2 million, while net profit reached EUR 46 million. “The combined 10% increase in profitability of our two core segments, to 49.1 million euros, underscores the strength and resilience of our business model, based on performant residential and office divisions. The dedication of our sales and leasing teams has been crucial to our solid results, which will be reflected in future revenue and net profits in line with our revenue recognition policy. Despite industry challenges, our commitment to offering the highest quality residential and office spaces remains our winning strategy, enabling us to maintain strong financial stability and a positive outlook,” said Victor Capitanu, Co-CEO of One United Properties. Revenue from the residential segment reached EUR 105.4 million, a 14% YoY decrease. However, net income from residential properties increased by 6% YoY to EUR 38.3 million. This growth was driven by the new developments initiated between 2022 and the first half of 2024, where significant construction progress paired with strong sales and pre-sales of residential units led to improved results. Notably, the net margin from residential sales rose from 29.5% in H1 2023 to 36.3% in H1 2024, reflecting the impact of ongoing construction progress. Rental income, which includes revenue from the commercial division and tenant services, increased by 18% YoY to EUR 15.1 million in H1 2024. Net rental income saw a 25% YoY rise, reaching EUR 10.8 million. In the first half of 2024, One United Properties successfully leased and pre-leased 8,100 square meters of office space and signed multiple contract extensions totaling 6,770 square meters. The financial impact of these new leases will be reflected in future revenues. “The first half of 2024 marked a high level of activity for One United Properties as we expanded our iconic One Community and advanced our construction projects. With 12 developments underway, including the transformative One Athénée and One Gallery developments, our work will leave a lasting impact on the city of Bucharest. While the market presents challenges, the scale of our operations is unparalleled, and we are confident that the results of this immense effort will be evident in our financial performance in the coming quarters as we begin delivering high-quality residential units and office spaces to our customers,” said Andrei Diaconescu, Co-CEO of One United Properties. As of June 30, 2024, One United Properties had 12 developments under construction, encompassing 4,041 residential and commercial units and nearly 45,000 square meters of office and commercial space. Despite significant development activity, which led to a 20% decline in the cash position, the Group maintained a solid cash reserve of EUR 67.5 million. Notably, as of the end of H1 2024, the loan-to-value ratio stood at 30%, a 2 percentage-point increase since the end of 2023. Net debt remained low at EUR 170.5 million, representing 16% of total assets. Amounts to be received under contracts concluded with customers as of June 30th, 2024, will total 331 million euros in additional cash by 2026. ____________________ ONE UNITED PROPERTIES is the leading green investor and developer of residential, mixed-use, and commercial real estate in Bucharest, Romania. One United Properties is an innovative company dedicated to accelerating the adoption of construction practices for safe, energy-efficient, sustainable, and healthy buildings, and has received numerous awards and recognitions for its superior sustainability, energy efficiency, and wellness. The company is publicly traded on the Bucharest Stock Exchange, and its shares are included in multiple indices such as BET, STOXX, MSCI, FTSE, ROTX and CEEplus.
MedLife achieved a Pro forma consolidated turnover of RON 2.76 billion in 2024, up 25% compared to 2023, moreover, recording in the last five years increases in turnover of over 20%. Despite the growth and consolidation of its leading position, the company navigated cautiously last year, taking into account the increase in debt and the […]
At Café Athenée, a timeless noble tradition comes to life with the Afternoon Tea Experience, now available every day from 3:00 to 6:00 PM, upon reservations made at least 24 hours in advance. Guests can indulge in a selection of finely crafted pastries, delicate finger sandwiches and premium teas, curated to create a truly elegant […]
AROBS Transilvania Software (BVB: AROBS), the largest technology company listed on the Bucharest Stock Exchange, posts solid preliminary results for 2024 – a consolidated turnover of RON 412 million (EUR 83 mln), 2% above the revenue and expense budget revised in Q3 2024, EBITDA of RON 60 million (EUR 12 mln), +11% compared to the […]
A new study by Go Voyager has ranked Romania as the most dangerous country in the European Union (EU) to rent a car, mainly due to its poor road infrastructure, which translates into higher risks of getting into a car accident. On the opposite end, France ranks as the best country for car rentals due to […]
Accelerated growth of BCR's business in 2024. An 11% increase in net assets, a 19.2% rise in net profit, 15.6% higher operating revenues, and a 19.3% growth in operating result, all driven by a significantly higher business volume with clients. Financing the economy. Over 6,500 companies, supporting approximately 280,000 jobs, were financed by BCR in […]
Romanian police announced they recovered a stolen bronze statue by French sculptor Emile-Antoine Bourdelle, valued at approximately EUR 15,000. The artwork was taken from France in 2018 and surfaced in Constanța, where officers from the Criminal Investigations Directorate intercepted an attempt to sell it. On February 27, 2025, acting on intelligence...
