IMPACT Developer & Contractor, the first real estate developer established in Romania and also the first real estate company listed on the Bucharest Stock Exchange, with an uninterrupted presence of over 25 years, reports in the first nine months of the year a 43% increase in turnover, an increase of 99% in net profit and a gross margin of 36%.
The increases are mainly due to the optimization of processes at group level and to vertical integration, an example being the acquisition of the majority stake of the construction company RCTI.
In the first nine months, IMPACT sold 173 units, with a total value of 129.6 million lei, up by 19% compared to the same period of last year. 78% of the sold units are located in LUXURIA Residence, the greenest newly built neighborhood close to the city center, where the developer came out on the market with pre-leased apartment packages, which benefit from integrated administration services provided by the subsidiary company Spatzioo. The rest of the units are located in the GREENFIELD Băneasa compound in the north of Bucharest and in the Boreal Plus complex in Constanta, projects in which IMPACT continues to invest heavily.
“The third quarter results are on an upward trend as we complete successive developed phases of our projects. The vertical integration policy adopted in the first part of the year has started to yield results in terms of optimizing the production cycle and controlling costs. Within this strategy, we have already integrated the construction company RCTI and we are finalizing the establishment of our own architecture and design company, IMPACT ALLIANCE Architecture. We are confident in the next period, considering that we are recording income from the completed phases in GREENFIELD Băneasa in Bucharest and BOREAL PLUS in Constanța. We are also happy to announce the imminent opening of the GREENFIELD Plaza community center, which includes the shopping gallery and the wellness center that will serve the residents of the GREENFIELD Băneasa compound. In Iași, we are waiting for the release of the building permit to immediately start work on the GREENFIELD Copou project.”, stated Constantin Sebesanu, CEO IMPACT Developer & Contractor.
In the first nine months of the year, IMPACT attracted capital worth 77.7 million lei through actions of share capital increase.
IMPACT owns a valuable portfolio of land (approximately 73.50 ha) on which it will develop projects in Bucharest, Constanta and Iasi, with a gross development value estimated at 1.5 billion euro.