Growing revenue of P.A. Nova group
Constructionjournalist
In 2016 its sales revenue amounted to PLN 182.9 mln, which constitutes an increase of 25-pct compared to PLN 138.9 mln registered a year earlier. It includes the revenue of PLN 106.2 mln from the sale of construction, development and design services (compared to PLN 85.2 mln in 2015) and app. PLN 71 mln is the revenue from lease (compared to PLN 48 mln a year earlier). As far as its development operations are concerned the group is currently building a retail park in Sosnowiec (2,700 sqm) with the planned total project value of PLN 15.9 mln, the opening of which is planned for April 6th, 2017. The company is also planning to build a retail park in Krosno and a residential building including 40 apartments, which is planned to be launched in H2 this year. A retail facility with an area of 3,000 sqm is also planned in Kłodzko. “I do not preclude that its construction will also start this year,” said Ewa Bobkowska, president of the board of the stock-exchange-listed P.A. Nova. The group is also planning to buy a plot for five three-storey buildings (a total of 40 apartments) in Bad Staffelstein, Germany. The planned value of the project is EUR 7.5 mln. “We will apply for a building permit at the end of April and I think that subject to how long it takes to issue it, we may enter the building site in August or September. The construction process should last app. a year,” informed us Ewa Bobkowska. The company hopes for a much higher margin on the German project compared to Polish ones – app. EUR 500 per a square metre of a useable area whereas according to president Bobkowska app. PLN 1,000 is a good result in Poland. As a developer the group is also planning to start the construction of a production and warehouse facility including a dozen or so thousand square meters near Bielsko-Biała. The value of the project is app. PLN 25 mln. The company’s land bank currently includes 16-ha with a book value of PLN 32 mln. The largest contracts executed as part of general contractor services of P.A. Nova include the construction of Ikea in Lublin at the cost of PLN 65 mln. The company is also revitalizing a railway station in Sosnowiec, which is to be completed in September this year. It has also reported a contract worth PLN 29.5 mln for the redevelopment of a bus station in Białystok and the construction of a small shopping centre. In the Czech Republic the company is negotiating the provision of general contractor services with regard to commercial facilities. “Having constructed four shopping centres in Poland we believe that the time is up as far as shopping centres in the cities we operate in are concerned, because of this we focus on retail parks and industrial parks. We also look around abroad. We simply look for good contacts, which will allow us to have a margin of 5 to 10 pct,” reported Ewa Bobkowska. The management of the company is also planning to recommend the payment of dividend to the general meeting of shareholders. Last year the company paid PLN 0.75 per share and two years ago it was PLN 0.50 per share. This year the company is celebrating the 10th anniversary of its presence on WSE this year in July. In this period the company increased the value of its assets from app. PLN 35 mln to app. PLN 817 mln (while its equity increased from PLN 18.7 mln to PLN 146 mln).
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