Impact D&C S.A. delivered in 2009 over 10% of the dwellings in Bucharest, 8% more than in 2008
February 15, 2010
Bucharest, 15th of February 2010
Out of the total of 1,700 new units sold in the year 2009 in Bucharest-Ilfov Area, approximately 10% belong to Impact Developer & Contractor SA, (denomination to BVB: IMP) in the Greenfield Project on the Northern part of the city. The developer signed last year 8% more contracts than in 2008, especially due to the flexible purchase modalities offered to beneficiaries. A special contribution was also made by the innovative offers released in 2009, such as the "Bridge" and "Piece by piece" (in March), "Prima Casă 90" and "A doua Casă" (June) programs and to the possibility to test the dwelling called "Habitest" (July) or to the offer of group purchase. Complementarily, there were released innovative products as much as possible personalized to the real needs of the beneficiaries: purchase of a dividable surface according to every owner or the apartments with eco gardens and wireless Internet (December).
The projects finished in the year 2009 were: the Blue project, within the Greenfield urban pole situated on North of Bucharest, the Boreal Project in Constanţa and Roua I Project in Ploieşti. Besides these projects, in 2009 works were also made for the Quartz project also within Greenfield, that will be finished in the spring of the year 2010. Also, there were started the infrastructure works for the Lomb project in Cluj-Napoca.
The value of the contracts concluded in the year 2009 was of over 70 million lei, about 5% higher than the contracts concluded in 2008, the number of contracts being 8% higher compare to 2008.
At the same time, the year 2009 brought a significant diminishing of the debts of the company, that reached the lowest level of the last 4 years, the debt rate falling to only 34% of the total assets, while the indebtedness degree reduced to the level of 21%, to half compared to the indebtedness degree recorded by the real estate companies in Central and Eastern Europe
According to the strategy that was announced one year ago, the company focused on the adaption to the new market conditions by reducing expenses, redesigning the new projects on the board according to the real needs of the beneficiaries, consolidation of the market position within the new economic context and the decrease of the volume of investments in course.
The results presented next are provisional, following to be subject to financial audit according to the legal provisions and being possible to suffer modifications until their finishing and presentation for the approval of the Ordinary General Assembly of the Shareholders from the date of 24.04.2010.
According to OMFP, the preliminary unaudited individual financial statements for the year 2009 are the following:
INDICATORS 2009 (thousand lei)
I. TOTAL INCOME 78,224
Out of which:
- Exploitation income 68,135
- Financial income 10.089
II. TOTAL EXPENSES 77,392
Out of which:
- Exploitation expenses 57,444
- Financial expenses 19,947
III. GROSS PROFIT 833
- Exploitation profit 10,691
- Financial loss -9,858
IV. NET PROFIT 635
The number of signed contracts in the year 2009 was higher than that in the year 2008, the margin decrease and the financial losses resulted from the exchange rates determined the gross profit to have a value of 832,000 lei.
In fact, the investment decrease was even bigger and was transposed into a diminishing of the execution activity by about 40% compared to the proposed one, so a diminishing of income and of expenses by the same proportion.
"Under the present economic conditions, our priority in 2010 is to continue our policy of administrative costs control. At the same time, in the year 2010 we wish to enlarge our portfolio of dwelling solutions addressed to the clients, especially the acquisition solutions for the clients in the new projects, that start this year. Next, we wish to be the most innovative Romanian real estate company, by offering dwelling solutions that suppose residential products for all the "pockets", with individualized financial solutions, with various dwelling modalities, and complex management services", declared Carmen Săndulescu, Financial Executive Officer of IMPACT Developer & Contractor.
ABOUT IMPACT DEVELOPER & CONTRACTOR SA:
IMPACT Developer & Contractor SA is the most innovative Romanian real estate company. IMPACT offers dwelling solutions that suppose different residential products, with individualized financial solutions, with multiple contracting modalities, and complex management services as well. Established in 1991, IMPACT is listed with the Bucharest Stock Exchange and is one of the most well-known companies in Romania in the real estate and the capital market fields. Since 1996, when it introduced on the market the concept of residential assembly, IMPACT has developed 16 assemblies in 5 cities, with over 2,200 houses and apartments and also 25,000 sqm of offices and commercial spaces. In its 19 years of activity on the Romanian market IMPACT was awarded over 100 honors and awards.
