BBI Development recorded PLN 6.42 million of consolidated net loss attributable to shareholders of the parent company in 2021 compared to PLN 3.68 million of profit a year earlier, the company said in its report.
The operating loss was PLN 1.59 million compared to PLN 1.87 million profit a year earlier.
Consolidated sales revenues reached PLN 20.9 million in 2021 compared to PLN 84.5 million a year earlier.
“The year 2021 was a very important period for the implementation of the company’s key project – Roma Tower, i.e. the construction of a 170-meter high-rise building in the very center of Warsaw, at Nowogrodzka and Emilii Plater streets, on a plot covered by a legally valid local zoning plan. Roma Tower investors made a strategic decision. on the introduction of an external investor to the project and a significant recapitalization of the project, as a result of which an investment agreement was concluded with a reputable industry partner, with the current value of the project and works contributed to it by the group at PLN 261 million and the contribution made by the new investor exceeding PLN 207 million,” President Michał Skotnicki wrote in a letter to shareholders.
On a standalone basis, the net loss in 2021 was PLN 8.51 million compared to PLN 37.04 million in profit a year earlier.
BBI Development is a real estate development company listed on the Warsaw Stock Exchange (WSE) since 1997.
Source: BBI Development and ISBnews
