One United Properties held a General Meeting of Shareholders. In the GMS, the shareholders approved, among other items,the audited financial statements for the first six months of 2023, the distribution of the 2023 half-year dividend, the share buyback, as well as contracting various credit facilities for developments currently under construction. The quorum for both meetings overpassed 94.5 percent.
“On behalf of One United Properties’ Board of Directors, I would like to thank all our shareholders for their unwavering trust and active involvement in our latest General Meeting. The unanimous approval of the agenda and the record quorum underscore our shared vision and determination. The approval of the 2023 half-year dividend, coupled with our commendable financial performance in the first half of the year, stands as a testament to One United Properties’ strong commitment to delivering consistent shareholder value. Our strategic initiatives have translated into robust growth rates and tangible benefits for our investors. As we continue to pioneer green developments in Romania, we remain dedicated to sustainable growth and enhancing shareholder returns,” said Claudio Cisullo, Chairman of the Board at One United Properties.
In the first six months of 2023, One United Properties recorded a consolidated turnover of EUR 171 million in H1 2023, a 26 percent increase compared to H1 2022. The gross profit reached EUR 69.8 million, a 17 percent increase excluding the one-off gain from Bucur Obor’s bargain purchase recognized in H1 2022 of EUR 19 million. The net profit stood at EUR 58.2 million, an increase of 13 percent compared to H1 2022. The amounts to be received under contracts concluded with customers as of June 30th, 2023, reached the historical high of EUR 281 million in additional cash by 2025. The gross loan-to-value indicator improved by 3pp, going down to 25 percent as of June 30th, 2023, while the net of cash loan-to-value was 14 percent.
In the OGMS the shareholders approved the payment of a dividend of EUR 7.6 million, approximately 0.002 euro per share, which will be paid on January 31st, 2024, to the shareholders who hold ONE shares at the registration date of January 16th, 2024. One United Properties’ dividend policy includes the payment of dividends semi-annually, with the first tranche being approved in September/October of a given year based on half-year audited results and the second tranche approved in April, together with the audited annual report.
