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Atal margins better than good

Tomasz Cudowski 19 May 2017

Tomasz Cudowski

Journalist

+48 22 356 25 26
tomasz.cudowski@eurobuildcee.com

Tomek graduated from the faculty of modern languages at the Adam Mickiewicz University in Poznań, where he also started his journalist career in the late 1980s. He has worked in the real estate press since 2005, covering the residential market for ‘Eurobuild CEE’ magazine as well as the new technologies and property management sectors. Sometimes he can be heard on Polish Radio 2, where he reviews the press on the morning programme. At other times he can be seen in the Bieszczady or Beskid Niski mountains, where he enjoys rambling with no fixed purpose or destination in mind.

POLAND In Q1 residential developer Atal generated consolidated revenue of PLN 198.8 mln, an increase of 68.5 pct on the same period last year.

Its consolidated net profit amounted to PLN 41 mln – 76.3 pct higher than a year earlier – while its gross margin was 28.67 pct and its net margin came to 20.62 pct. At the beginning of April Atal published its financial and operational forecasts for 2017. Based on its projected margins and the progress of its projects, the company expects to generate PLN 175–190 mln in consolidated net profit for the shareholders of the parent company. On the basis of its Q1 sales figures, Atal is hoping to secure buyers for 2,700–2,900 apartments.

This year Atal is planning to finish the construction of 23 development projects and the number of apartments handed over should amount to 2,500–2,700. In Q1 the company handed over 501 apartments – 39 pct more than a year ago. Most of the apartments were transferred to owners in Warsaw (147), Kraków (119) and Katowice (114) as well as in Wrocław (89) and Łódź (35). The company secured contracts for 676 apartments in this period – 34 pct more than a year earlier.


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