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Blip for Lokum Deweloper

Eurobuild CEE 18 August 2017
POLAND Lokum Deweloper generated PLN 10.7 mln in revenue in H1 2017, down from PLN 71 mln a year earlier.

The decline is the result of the sale of only 24 units compared to 207 units a year earlier, which is due to the company’s construction schedule – the vast majority of apartments this year will be included in its Q4 2017 figures. A net loss of PLN 7.3 mln which was recorded in H1 2017 compared to a profit of PLN 15.3 mln in the same period of 2016 for the same reason. However, the developer’s sales increased by 42 pct y-o-y in the first six months of this year to 438 apartments while the number of apartments covered by reservation contracts increased by more than 200 pct to 190. The total number of apartments sold and reserved is 70 pct higher y-o-y. The potential for the apartments to be recognised in the annual 2017 results (679 apartments) was 81 pct fulfilled by the end of H1.

“In July we started to transfer apartments in the sixth stage of the Lokum di Trevi estate to their owners and the projects that are currently being finished – Lokum di Trevi VII and Lokum Victoria IIa, IVa as well as IVb – will be registered in our revenue in the next few months,” reveals Bartosz Kuźniar, the CEO of Lokum Deweloper. “Furthermore, the group maintained above average sales margins and its strong financial position,” he adds.


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