Grupa Kapitałowa IMMOBILE publishes the results for the first half of the year, richer in a new segment - News - Grupa Kapitałowa Immobile S.A.

Grupa Kapitałowa IMMOBILE publishes the results for the first half of the year, richer in a new segment
Data publikacji: 01.10.2021

Grupa Kapitałowa IMMOBILE S.A. published financial results for the first half of the year, achieving at that time revenues comparable to those for the same period of the previous year. In the reporting period, its structure was enriched with a new segment - clothing.

The company's revenues in the first half of 2021 amounted to PLN 226.6 million. EBITDA is positive and amounts to PLN 14.6 million, while the net loss was recorded in the amount of PLN 3.9 million. In the reporting period, the IMMOBILE Group generated a gross profit on sales of PLN 43.7 million (profitability of 19.3%) compared to PLN 42.0 million in the corresponding period of 2020 (profitability of 18.3%).

Immobile Group achieved a significant increase in revenues in the segment of construction consulting and development, in which it implements three large housing investments. The 5-fold increase in revenues to the level of PLN 25.75 million is mainly due to the cyclical nature of development projects. The operating profit on this activity amounted to PLN 3.9 million.

The new segment of the Group's operations, developed after the purchase of companies related to the Quiosque clothing brand, had a significant share in the revenues. Revenues from this segment are consolidated since the transaction date, ie from April 19 this year. From that moment until the end of the first half of the year, the clothing segment contributed PLN 23.4 million to the Group's revenues, generating an operating result of PLN 3.4 million.

We are glad that a clothing brand that has been present on the Polish market for 30 years has joined the Group. Together with the Quiosque team, we started building another strong pillar of the IMMOBILE S.A. Group - says Rafał Jerzy, President of the Group.

An increase in revenues of over 6 million (to PLN 81.3 million) for the first half of the year and an operating profit of 3.4 million was recorded in the industrial segment.

Its main product - reloading systems - was responsible for over 88% of the segment's sales. This product is directed mainly to export markets, and the largest market is the German market. In 2021, the Group records very high interest in their offer and record-breaking order levels. Their implementation is possible thanks to the modernization of the production plant, which resulted in an increase in production capacity, shortening of production time, increased efficiency and reduction of production costs - commented Rafał Jerzy.

The lease segment increased revenues by 0.5 million and generated a profit thanks to the constantly progressing commercialization of its main asset - the IMMOBILE K3 office building.

Almost identical revenues compared to the same period last year were generated by the automation and power engineering segment (PLN 38.7 million). The segment recorded a slight operating loss (-0.1 million).

Revenues in the industrial construction segment decreased from PLN 96.2 million to PLN 41.5 million. This activity also recorded an operating loss of PLN 4.1 million. This is mainly the result of the early stage of execution of large contracts (Gas Compressor Station in Odolanów and a housing estate called "PERFUMIARNIA" in Poznań).

When analyzing the concluded contracts, we can expect higher revenues in construction, automation and power engineering in the second half of the year - predicts the president of the IMMOBILE Group.

Compared to the same period last year, the hotel sector is in a better condition. Despite the restrictions continued this year and limiting the operation of hotels, the Focus chain increased revenues by over PLN 1 million and reduced the loss compared to the first half of 2020. The industry indicators increased - both occupancy, average room rate and income per available room.

It is also the effect of expanding the base by two more four-star facilities: Focus Hotel Premium Elbląg, which joined the network on the basis of a lease agreement on 01/05/2021, and Focus Hotel Grand Szczecin - a newly opened facility on 14/06/2021. In connection with the openings at the end of the first half of the year, their impact on the results will be more visible in the following periods - says President Jerzy.