Revenue neared RON22 million in Jan-March 2023, down 42% on the year. At the same time, its EBITDA (earnings before interest, tax, depreciation and amortization) in January-March 2023 resulted in loss of RON2.8 million after a net result of RON8.4 million in 2022. Assets remained almost unchanged at RON1.47 billion, while debts grew by 7% to RON593 million.
“During the first three months of 2023 sales of dwellings totalling 24 units vs. 50 units sold in the prior period comparable period this representing exclusively units delivered to customers. Revenues are recorded when the sale-purchase agreement is in place and the apartment can be handed over to the customer. Amounts collected from Pre-Sales are recorded as advance payments from customers and are not recognised as revenues. The average selling price had a positive impact, increasing in the first three months of 2023 to 1,604 Euro/sqm compared to 1,439 Euro/sqm in the first three months of 2022. As a result of the implementation of the vertical integration strategy, both the revenues and the cost related to the companies new to the group, compared to the first quarter of the previous year”, company representatives said in the report.
“The construction of a new phase with 250 dwellings in GREENFIELD BANEASA was started in the first three months of 2023, reaching a total number of 982 of dwellings under construction. For other 649 dwellings construction is expected to begin in 2023-2024”, the report reads.
On March 31, 2023, IMPACT had a balance of 457 pre-sale and reservation contracts, in total value of EUR 50 million. Those contracts will translate in sales, as dwellings will be finalized in the following period.
IMP shares have been trading down by over 30% over the last 12 months, amid deals worth RON34.2 million. The company is 58%-owned by Gheorghe Iaciu.