Ronson recorded PLN 40.35 million of consolidated net profit attributable to shareholders of the parent company in 2021, compared to PLN 40.14 million of profit a year earlier, the company said in the report.
The operating profit amounted to PLN 59.24 million versus PLN 55.15 million profit a year earlier.
Consolidated sales revenues reached PLN 480.9 million in 2021 compared to PLN 401.23 million a year earlier.
The company’s revenues from residential projects and services amounted to PLN 458.4 million, + 14% y / y (a record number of 1,007 apartments was delivered, + 4% y / y). The gross margin on residential projects was 19.4% vs. 21.8 % 2020. It should be noted that the highly profitable City Link III project (38.3% margin) had an impact on the gross margin in 2020, which additionally affects the operating profit and the dynamics of the net profit y / y. profits from the joint venture project in the amount of PLN 5.8 million. As a result, the operating profit in 2021 amounted to PLN 59.2 million (+ 7% y / y), and the net profit was PLN 40.3 million (+ 1% y / y) r), announced Ronson.
Most of the company’s revenues in 2021 came from the projects Nova Królikarnia (4 stages, 22%), Ursus Centralny Ia (11%), Vitalia III (9%), Miasto Moje IV (9%) and Viva Jagodno I (8%). Contrary to 2020, in 2021, the level of gross profit was affected by several projects, with the largest share of the Nova Krolikarnia project (4 stages, 15%), Miasto Moje III (14%), Viva Jagodno I (11%) Ursus Centralny 1a (10%) and Vitalia III (8%).
In 2021, Ronson Development sold 877 units (compared to 918 in 2020). The main sales drivers in this period were Ursus Centralny (238) Miasto Moje (208), Nowe Warzymice (127), Viva Jagodno (106), Wilanów Tulip (48) and Panoramika (46).
“As a result of the record number of handovers in 2021, we achieved a 14% increase in revenues from residential projects and services y / y. Our gross margin generated from core operations amounted to 19.4% in 2021 – it is worth mentioning that this is a mix of several projects, while in 2020 City Link III was the main source of the margin, therefore the comparison of the gross margin y / y is burdened with the high base effect.Operating profit for 2021 amounted to PLN 59.2 million, or + 7% y / y, with a positive recognition effect of the Wilanów Tulip project, implemented as part of a joint venture, and the net profit for the previous year amounted to PLN 40.3 million (+ 1%). Thanks to very good financial results and a strong cash position, we are able to carry out a large number of projects at the same time and conclude numerous purchase transactions of land, while maintaining a safe level of the net debt to equity ratio,” commented vice president, CFO Yaron Shama.
On a standalone basis, the net profit in 2021 was PLN 40.35 million, compared to PLN 40.14 million in profit a year earlier.
Source: Ronson and ISBnews
