Instone’s Q1 revenues for 2018 amounted to around €34.8m, a rise by 32.8 percent in comparison with the same period last year (Q+ 2017: €26.2m). At the end of the reporting period, earnings before interest and taxes (EBIT) were around €9.1m, thus rising by around €12.4m as compared with the same period last year (first quarter 2017: €-3.3m). In comparison with last year, Instone’s balance sheet total dropped by around €111.7m to €677.5m (first quarter 2017: €789.1m).
In the first quarter, 75 residential units were completed and handed over. The resulting total sales volume was around €30.3m compared with a total sales volume of around €17.9m in the first quarter of 2017. Kruno Crepulja, Chief Executive Officer of Instone Real Estate: “For us, Instone’s positive development in the first quarter represents confirmation of our growth strategy, which we plan to further advance in the current financial year. Our clear target is to expand our portfolio further, so that we can ensure sustained high profitability and maintenance of our successful position as a leading listed residential unit developer in the future too.”
Illustrative Picture: Instone Real Estate
