Dom Development has announced a strong financial performance for the second quarter of 2024, reporting a net profit of PLN 93.82 million, up from PLN 63.8 million in the same period last year. The company also reported an EBIT of PLN 114.24 million, a significant increase from PLN 73.75 million in Q2 2023.
The company’s consolidated revenue for the second quarter reached PLN 663.7 million, compared to PLN 452.51 million a year earlier. Over the first half of 2024, Dom Development achieved a consolidated net profit of PLN 231.05 million, slightly up from PLN 222.56 million in the first half of 2023. Revenue for the period was PLN 1.37 billion, a 7% increase year-on-year from PLN 1.27 billion.
Despite a decrease in the number of units delivered to buyers—1,637 in the first six months of 2024 compared to 1,998 in the same period last year—the average revenue per unit rose by 26% to PLN 777,000 net. The company delivered 716 units in Q2 2024, an increase from 648 units in Q2 2023, contributing to a 47% rise in both revenue and net profit for the quarter.
Andrzej Szanajca, CEO of Dom Development, commented, “We are seeing a promising start to the year with record-breaking delivery volumes anticipated for 2024. Our goal remains to increase the number of units sold compared to 2023, when net sales reached 3,906 units.”
In the first half of 2024, the company commenced 25 new projects totaling 2,963 units across its four operational cities: Warsaw, Trójmiasto, Wrocław, and Kraków. As of June 30, 2024, Dom Development had 2,915 units available for sale, marking a 13% increase from the previous year and a 21% increase from the end of 2023.
The company’s current project pipeline includes a record 8,371 units under construction, a 24% increase year-on-year. Dom Development also holds a land bank with the potential to develop over 18,700 units, with the majority of the potential located in Warsaw (over 10,600 units) and Trójmiasto (over 4,700 units). The land bank in Wrocław grew significantly in Q2 2024 due to the acquisition of attractive plots.
As of June 30, 2024, Dom Development had over 4,900 sold units, valued at over PLN 3.5 billion, still awaiting delivery. The company reported a unit profit of PLN 291.57 million for the first half of the year, compared to PLN 287.43 million in the same period last year.
