Earnings call transcript: One United Properties H1 2026 profit falls as law delays sales
One United Properties announced a significant decrease in first-half profit for 2026 due to new Romanian residential rules delaying the recognition of revenue. Despite this, the company stated demand remained strong, and its rental portfolio continued to grow. Net profit fell by 68% to RON 79.2 million, while turnover dropped by 47% to RON 440 million.
The company attributes these figures to the Nordis Law and a cyberattack on the land registry. Management anticipates full-year net profit to be between 15% to 20% below the original budget. Despite the decline, residential transactions rose by 11% to EUR 106.1 million, indicating that demand remained robust. Average contracted prices increased by 24% to EUR 3,900 per square meter, driven by premium launches.
The rental portfolio remained stable, with 95% occupancy and 100% pre-leasing for major new assets. The company's stock price stood at $34.8, near the top of its 52-week range of $24.05 to $36.
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