Austria · Delayed Price · Currency is EUR UBM Development AG Earnings Call Transcripts
Fiscal Year 2025
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Returned to profitability in 2025 with higher-than-expected earnings, strong apartment sales, and a robust cash position. Strategic focus shifts to affordable housing, supported by asset sales and new participation capital, amid ongoing macroeconomic uncertainties.
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Residential sales grew 25% year-over-year, driving a second consecutive profitable quarter and strong balance sheet metrics. High pre-sale rates and a robust pipeline support a positive 2025 outlook, while office and hotel segments face longer recovery timelines.
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Break-even was achieved in Q2, with a strong rebound in residential sales and a robust liquidity position. Profitability is expected in H2 2025, supported by a solid project pipeline and improved balance sheet, despite ongoing market uncertainties and supply shortages.
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Residential sales more than doubled year-over-year, driving a 39.6% revenue increase, though EBT remained negative due to a one-off write-down in Innsbruck. Liquidity was used to repay debt, and a €65 million green hybrid bond was issued, supporting a stable pipeline and positive outlook for 2025.
Fiscal Year 2024
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Residential sales surged, driving a positive outlook despite a EUR 14.5 million pre-tax loss in the first nine months. Liquidity remains strong, with a robust cash position and reduced net debt, while profitability is expected to return in H2 2025.
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Liquidity strengthened to EUR 179 million and net debt reduced to EUR 550 million by mid-2024, with asset sales at book value and residential sales outpacing last year. Focus remains on liquidity for 2024, with profitability targeted for 2025.