One United Properties posts a consolidated turnover of EUR 235.4 million in 2022, a 4 percent increase compared to 2021. The gross profit reached EUR 116.2 million, a 5 percent year-on-year decline following an intense investment activity, while the bottom line decreased by 1 percent, amounting to EUR 101.9 million. The company ended the year with a strong cash position of EUR 114.6 million, higher by 12 percent compared to the beginning of the year, due to capital increase contribution, which brought EUR 51.5 million in Q3 2022 and despite continuous investments and dividend pay-outs of EUR 15.9 million in 2022. The gross loan-to-value indicator was 28 percent as of December 31st, 2022, while the net of cash loan-to-value was 11 percent.
“We are proud to close another year with historical results for One United Properties, despite the challenges in the markets, and we look forward to continuing this ascending trend in 2023, and on a long-term basis. We start this year with a rich residential, office and commercial portfolio, ready to cater to the needs of residents and tenants across the medium, upper medium and high-end segments. As of January 1st, 2023, 2,285 units at our delivered and under construction developments were already sold, meaning that our sales team had a portfolio of 1,143 residential units available for sale. Moreover, we estimate pre-sales for additional 1,167 units located at the first phases of One Lake District and One Lake Club to start within the first half of 2023, thus securing a steady cash flow for our company. On top of this, we continuously keep looking for opportunities in the market, which will allow us to build a solid pipeline for the years to come, opportunities such as One Cotroceni Towers, our latest announcement, or One Downtown and One Plaza Athénée, both developments which will strengthen our urban regeneration strategy in the historic center of Bucharest. With earnings per share of RON 0,14, our company brought investors a 15 percent Earnings Yield in 2022. Our plan is to reinvest most of these profits in 2023 while maintaining our biannual dividend pay-out policy,” said Victor Capitanu, co-CEO at One United Properties.
