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Atal shoots up

Tomasz Cudowski 06 June 2018

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 Residential developer Atal has reported consolidated revenues of PLN 301 mln (up by 51 pct y-o-y) for Q1 2018.

Over the same period, the company made a net profit of PLN 58.8 mln, representing a 43 pct rise. Over the period the company signed 714 development contracts and in March 2018 its sales came to 288 units, the highest monthly figure ever recorded by the company. Atal is targeting to sign contracts on 2,700 – 3,000 premises for the year. In the first quarter it handed over 830 apartments compared to 501 delivered in Q1 2017. The largest number of handovers were in Kraków (293), followed by Warsaw (262), Wrocław (126), Łódź (116) and Katowice (33). “Atal is strengthening its position not only in the cities it has been operating for many years but also in such new markets as the TriCity and Poznań. Over the coming quarters we are going to continue to expand our portfolio in all seven of the largest cities in Poland,” says Mateusz Juroszek, the vice president of Atal. Over the period, the developer purchased four plots for a total of app. PLN 40 mln, where a total of 33,200 sqm of residential space could be developed in Poznań, the Tri-City and Kraków. Last year Atal invested a record PLN 232.3 mln on purchasing new plots in Warsaw, Kraków, Katowice, Wrocław, Poznań and the TriCity, where a total of 320,000 sqm of residential space could eventually be developed. Since the beginning of 2018 the company has started work on eight projects, in which 1,400 apartments are to be developed including in Łódź (Pomorska Park III), the Tri-City (Przystań Letnica I), Wrocław (the first stage of Krakowska 37), Kraków (Atal Kliny Zacisze), Katowice (the first stage of the Nowy Brynów residential estate), in Poznań (the first stage of the Milczańska Apartamenty Rezydencja Chwaliszewo) and in Warsaw (the third stage of Osiedle Warszawa). The developer has a total of 2,900 apartments on sale at the end of Q1. The company is recommending a dividend of 80 pct of the 2017 consolidated net profit, which totals PLN 137 mln or PLN 3.54 per share with a yield of over 8 pct. Atal has announced that over the coming years it will pay out a dividend of between 70 pct and 100 pct of the net profit for a given financial year.


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