(Finance) – AbitareIna leading company in residential development in Milan and listed on Euronext STAR Milan, has registered consolidated revenues equal to 35.5 million euros in the first quarter of the year (as at 31 December 2021), compared to 44 million euros in the same period of the previous year. L’progress of production it is equal to 19.5 million euros (13.5 million euros in the first quarter of the previous year). L’Consolidated adjusted EBT is equal to 8.7 million euros. The data, the company underlines, was prudently adjusted to take into account the increase in costs of construction on construction sites to be delivered in the next 15 months. The adjustment (-5.6 million euros) is mainly attributable to the definition of agreements with contractors to support the supply chain and guarantee delivery without further delays in timing. Furthermore, the data includes the financial income deriving from the IPO of the subsidiary Homizy for 5.9 million euros.
There consolidated net financial position is equal to 84.4 million euros (75.1 million euros at 30 September 2021), an increase of 9.3 million euros compared to 30/09/2021, against total investments of 32.6 million € 15.8 million, of which € 15.8 million for the purchase of new areas and € 16.8 million for work on orders (site progress). Net of the investments for the purchase of new areas, the consolidated NFP would have been equal to 68.6 million euro.
“The first quarter of the year is still characterized by the effects deriving from the health emergency – commented the president Luigi Gozzini – It is now the daily topic of the increase in costs for the procurement of raw materials which is affecting construction companies. Our goal is to continue to support the supply chain and guarantee our customers the delivery, on time, of a quality product “.
With reference to the marketing activities of the new operations, the management has decided to adopt a strategy that involves moving forward some commercializations andintroduction of the so-called “micro-campaigns” to align sales prices with potential market prices and reduce the time between the sale and delivery of the real estate units, without increasing the risk level of the business.
To date the development pipeline of which the AbitareIn group is the owner (or promissory buyer) is made up, net of the projects already completed and delivered, of 22 areas, for about 300,000 commercial square meters, corresponding to a total of over 3,300 standard apartments. Of the more than 3,300 apartments in the pipeline, without considering the commercializations in progress, 618 apartments have already been sold, for a value of 254 million euros, with contractual advances (guaranteed by an insurance surety policy) for 79 million euros.