The company’s operating expenses dropped 28% on the year to RON9 million and its EBIDTA fell 29% on the year to RON17 million, per the company’s financial report. The profit margin decreased to 13% in January-June 2020, compared to 21% in the first six months of 2019.
In the first 6 months of 2020, the company recorded revenues of RON65.8 million from the sale of residentials, of which 62.7% related to the Greenfield project and 37.3% related to the first phase of the Luxuria project.
“On 30 June 2020, in addition to the registered sales, there were pre-sale agreements concluded for apartments whose value is not reflected in revenues in H1 2020. The value of these pre-sale agreements is of 146.28 mLEI, estimated to translate into revenues in 2020 – 2021. Additionally, in the second half of 2020, is expected to record 15.25 mLEI as revenues for the sale of a plot of land in Constanta for which a sale contract was concluded at the end of 2019, with certain conditions that must be met by Impact,” the financial report reads.
“In H1 2020, sales have reached a number of 133 dwellings (apartments, plus parking spots and court yards included in the packages, 161 in H1 2019) and 4 parking spots (14 in H1 2019). The apartments sold in H1 2020 totalized a gross area of 10,998 sqm, (15,167 sqm in H1 2019). Of the 133 apartments sold in H1 2020, 88 were sales related to the Greenfield project (7,650 sqm) and 45 were sales related to the Luxuria project (3,347 sqm),” per the report.
At the end of June 2020, the company owned 76.8 hectares of land, with a book value of RON504.7 million, land intended for sale and the development of new projects.
Impact’s activity during the first 6 months of 2020 was focused on the development of two residential projects located in Bucharest, specifically Greenfield Residence Baneasa, Luxuria Domenii Residence and the first phase of the Bopreal Plus project in Constanta.
The company has a market value of RON384 million and is 58.8% owned by Gheorghe Iaciu and 15.9% held by Andrici Adrian. Its shares have been trading down 2.6% since the start of 2002, amid deals worth RON17.3 million.