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JWCH planning for the years ahead

Eurobuild CEE 04 June 2018
POLAND J.W. Construction Holding (JWCH) has published its results for Q1 2018, which were marked by stable sales results and the expansion of its land bank.

During this period, the company sold 426 units, 6 pct more than in the same period last year. The company also extended its land bank in Gdańsk, Pruszków and around Poznań. The groups net income for the period came to almost PLN 51 mln, with a gross sales margin of 24 pct, while its net profit amounted to less than PLN 1 mln.

“The high demand for apartments that was evident at the end of 2017, has also continued into 2018, despite the end of the governmental ‘Apartments for the Young’ scheme,” comments Małgorzata Szwarc-Sroka, a member of the supervisory board of JWCH. “In our opinion, the sales levels for all our projects are good and in line with our expectations. However, our latest figure do not reflect current sales so much but the number of finished premises handed over to buyers, as these determine the amount of revenue and profit. In Q1 of this year we did not complete any developments, therefore only 79 apartments were counted in the results. However, the almost 3,500 apartments in the projects completed in Q1 – in Warsaw and its vicinity, Gdynia, Szczecin and Katowice – gives us greater sales potential ,” adds Małgorzata Szwarc-Sroka.

In Q1 2018, JWCH signed a contract for the purchase of a site in Skórzewo near Poznań, where it plans to build 280 apartments, and also signed preliminary agreements for the purchase of a plot on ul. Starowiejska in Gdańsk (where 75 units are planned), on ul. Waryńskiego in Pruszków (475 flats) and on ul. Celna in Szczecin. The group plans to develop 25 new residential, aparthotel and warehouse projects totalling 400,000 sqm over the next few years.

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