- Higher than expected: Liquidity at around ꞓ 200 million at the end of the year.
- Quadrupled: number of apartments sold increased to over 400
- Reduced: loss by over 40 % to ꞓ -23 million (result before tax)
- Capital ratio: around 29 %
- Announcement: emission of a green hybrid bond
With a liquidity of ꞓ 199.5 million, UBM Development AG (“UBM”) surpasses its own guidance from Q3/2024 from “About ꞓ 150 million” clearly. Due to the announced sales of non-strategic assets and the division of apartment sales in the past financial year with over 400 apartments sold in 2024 compared to fewer than 100 units in 2023, a significant cash flow could be generated. “We say what we do and do what we say,” emphasizes Thomas G. Winkler, CEO of UBM Development AG and “2024 was under the promise of liquidity with profitability and we have delivered accordingly”.
Based on the currently available figures for the 2024 financial year, the UBM expects a reduction in the negative result before tax (EBT) by over 40% to ꞓ 23 million. The apartment boom as well as the handover of housing in the Czech Republic and Germany contributed positively to the result. In addition, the personnel costs could be reduced again by 25% in 2024. Net debt was reduced by around 10% in the 2024 financial year. Despite the still challenging framework, the equity ratio reached around 29 %.
In addition, as part of the optimization of its equity structure, the UBM is currently examining the occurrence of a green hybrid bond in the 2025 financial year, including the possibility of a buyback offer for hybrid bond 2021, and has masked Raiffeisen Bank International AG for this. With any emission of a hybrid bond in the current financial year, the balance sheet picture of the UBM is to be strengthened in the long term. The emission of a customary hybrid bond remains reserved for the prevailing market situation. In the event of the actual emission, the greatest core shareholder of the UBM has expressed fundamental interest in participating in any emission with a volume of ꞓ 10 million. “UBM has demonstrated its capital market ability in each of the last two years. It is therefore only logical that we will deal with the excitement of hybrid capital in a tendency to be better, ”commented Patric That, CFO of UBM Development AG.
The UBM has a portfolio of around 3,000 apartments that are currently in development or already in sales. With a development pipeline of a total of 1.9 billion, which lasts until the end of 2028, the company sets clear priorities. The majority of the projects (over 90 %) are located in Germany and Austria, of which 58 % are living and 42 % of Light Industrial & Office. More than 300,000 m² are implemented or planning in wood hybrid construction and thus contribute to becoming the leading developer of timber construction projects in Europe.
The final figures and the annual report 2024 will be published on April 10, 2025.
UBM Development is one of the leading developers of timber construction projects in Europe. The strategic focus is on green and smart building in metropolitan regions such as Vienna, Munich, Frankfurt or Prague. The platinum rating from Ecovadis and the Prime Status of ISS ESG confirm the consistent orientation towards sustainability. With over 150 years of experience, UBM offers all development services from a single source from planning to marketing. The stocks are listed in the Prime Market of the Vienna Stock Exchange, the segment with the highest transparency requirements.
The information contained in this communication is neither directly nor indirectly determined for publication or distribution in the United States of America, Australia, Canada or Japan.
Legal note/disclaimer: This notification is neither a prospectus nor an offer for sale nor a request for buying securities nor a financial analysis or a advice or recommendation related to financing instruments. The securities did not become and are not registered in accordance with foreign securities laws, in particular in accordance with the US Securities Act of 1933 in the currently applicable version (“Securities Act”) and may not be offered or sold in particular in the United States of America (“USA”) without registration or exception from the registration requirements in accordance with the securities. This notification is not determined for transfer in or within the USA, Australia, Canada or Japan or another state in which the transfer or distribution would be inadmissible and must not be distributed or forwarded to publications with general distribution in the USA. There is no public offer of securities in the USA.