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One United Properties posts a consolidated turnover of 306.6 million euros and a gross profit of 105.9 million euros in 2023

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BUCHAREST, Romania, Feb. 27, 2024 /PRNewswire/ — One United Properties (BVB: ONE), the leading green developer of residential, mixed-use and office real estate in Romania, posts a preliminary consolidated turnover of 306.6 million euros for 2023, a 30% increase compared to 2022. The gross profit reached 105.9 million euros, a 9% increase excluding the one-off gain from Bucur Obor’s bargain purchase of 19.1 million euros recognized in 2022. The net profit amounted to 89.6 million euros, an increase of 8% compared to 2022, excluding the one-off. 

“Last year presented numerous challenges for the real estate sector globally, yet One United Properties thrived, as evidenced by our record number of deliveries and the high pre-sales level at the developments currently under construction. Our revenue recognition policy ensures that our residential sales are not merely instant gains but unfold into long-term profitability as we progress through the construction phases. This strategic approach, underpinned by our commitment to securing a minimum of 35% profit margin across all developments, is a testament to our robust investment potential. Despite the industry’s hurdles, we maintained our loan-to-value ratio at 28%, significantly below the European real estate average of 50%. Our ability to sustain such low leverage throughout 2023 while expanding our portfolio is a clear indicator of our operational efficiency, strong balance sheet and prudent management, therefore setting excellent premises for 2024 as another year of sustained growth for our company,” said Victor Capitanu, co-CEO at One United Properties.

Revenues from the residential segment reached 226.9 million euros in 2023, a 45% year-on-year increase driven by a diverse residential offering. The value of residential sales, meaning the revenue recognized within the year for the sales made in prior years based on the level of the completion, is an absolute record for the Group, overpassing for the first time the 200 million euros mark within a single year.

At the level of sales and pre-sales of units, despite a 16%1 decrease in the number of residential sales in Bucharest in 2023, One United Properties defied market trends by increasing residential unit sales by 59% compared to 2022. The Group sold and pre-sold 953 apartments with a total surface of 80,757 sqm, as well as 1,584 parking spaces and other unit types, for a total of  274.9 million euros. By the end of 2023, 71% of the Group’s portfolio was sold and pre-sold, underlining a strong demand across all One United Properties developments. Based on the contracts signed with clients as of December 31st, 2023, One United Properties expects additional cash inflows of 295 million euros by 2025.

Nonetheless, the revenue and the profit of all sales made in 2023 are not fully reflected in the Group’s results for 2023 due to the revenue recognition applied by One United Properties. Consequently, the net margin of the residential segment reached 27.4% for 2023, a decrease vs 41.4% registered in 2022 as 3 new large-scale developments in the early stages of construction were added to the sales portfolio between Q4 2022 and Q3 2023, therefore temporarily affecting the net margin. The margin from residential sales is expected to continue increasing over the following years as these large-scale developments – One Lake Club, One High District and One Lake Club – progress. One United Properties targets a long-term margin of 35% across all its residential developments.

Rental income, including revenues from services to tenants, increased 62% to 25.9 million euros in 2023, driven by revenues from tenants at One Tower, One Cotroceni Park Office 1, One Victoriei Plaza, and Bucur Obor. One United Properties leased and pre-leased 34,200 sqm of office and retail spaces in 2023, an 8% year-on-year increase driven by the record agreement signed with Infineon Technologies for a 20,000 sqm turnkey office development. Additionally, One United Properties exited four rental properties in 2023, totalling 41.7 million euros, generating 5 times multiple on the capital invested, with IRR ranging between 30%+ to 60%+ per exit.

The Group closed 2023 with a strong cash position of 84.6 million euros, down 26% versus 2022, due to significant development activity carried out in 2023, with developments under construction amounting to more than 1.2 billion euros in gross development value as of yearend. In 2023, One United Properties completed 4 developments with a GDV of 350.4 million euros and managed 9 other construction sites with future developments of 4,241 units and over 15,000 sqm of commercial spaces. As a result, the combined value of projects completed and under construction exceeded 1.5 billion euros in 2023.

“In 2023, One United Properties didn’t just achieve record sales; we also significantly increased our development activity to meet the growing customer demand. With more than 21,000 people working on for our developments in Bucharest last year, we are not only improving the skyline of the city, but we also contribute and actively drive the growth of Bucharest economy. The total value of our developments under construction in 2023, which reached a staggering 1.5 billion euros in gross development value, showcases more than just an increase in our scale. It demonstrates our ability to effectively manage and execute multiple projects without compromising quality. This approach not only contributes to our financial achievements but also reinforces One United Properties’ reputation for reliability and timeliness, which is even more appreciated by clients in times of global economical and geopolitical uncertainties as the ones we experienced over the last two years,” said Andrei Diaconescu, co-CEO at One United Properties.

The gross loan-to-value ratio of One United Properties amounted to 28% as of the end of 2023, stable since 2022, proving solid financials and low leverage of the Group compared with the European peers. As of December 31st, 2023, net debt was 122 million euros, 12% of the total assets, which reached the historical value of 1 billion euros.

ONE UNITED PROPERTIES (BVB: ONE) is the leading green investor and developer of residential, mixed-use, and commercial real estate in Bucharest, Romania. One United Properties is an innovative company dedicated to accelerating the adoption of construction practices for safe, energy-efficient, sustainable, and healthy buildings, and has received numerous awards and recognitions for its superior sustainability, energy efficiency, and wellness. The company is publicly traded on the Bucharest Stock Exchange, and its shares are included in multiple indices such as BET, STOXX, MSCI, FTSE, ROTX and CEEplus.

1 Data for 2023 according to the Romanian National Cadastre and Real Estate Advertising Agency.

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PolyAI partners with OpenTable to offer enterprise restaurants and diners reservation support using voice AI

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LONDON and NEW YORK, Sept. 23, 2024 /PRNewswire/ — PolyAI, a pioneer in voice AI solutions for customer experience and service, today announced a partnership with OpenTable, a global leader in restaurant technology, expanding PolyAI’s guest-led voice assistants to enterprise restaurants. Locations that opt in will be able to take reservations over the phone, answer questions, gain visibility in customer trends, and deliver on-brand experiences – all while alleviating staff time and resources.

This alliance delivers PolyAI’s lifelike voice AI to help restaurants tackle challenges around staffing and provide consistent hospitality, even off premise. In a survey conducted by the National Restaurant Association, 62% of operators said their restaurants did not have enough employees to support existing demand. With onsite staff focused on in-house patrons, restaurant groups routinely miss between 30-60% of phone calls to their front of house (per PolyAI customer data) – meaning missed revenue opportunities and equally valuable customer touch points.

Never miss another call, thanks to PolyAI and OpenTable

With this strategic partnership, OpenTable’s global network of restaurants will be able to integrate PolyAI voice assistants, built using generative AI and spoken language technologies, to assist their diners in seamlessly booking and managing reservations over the phone, during and outside of operating hours.

“We know how tightly restaurants manage their guest experience and this can be even more complex for our partners doing business at scale,” said Susan Lee, Chief Strategy Officer at OpenTable. “We have, and continue to invest in, technology that pushes boundaries and enhances hospitality and our integration with PolyAI is a new way we can drive efficiencies for our restaurants, and diners.”

For larger operators, this partnership enables numerous iterations of voice assistants to cater to the unique needs of multi-location and multi-brand portfolios, while providing PolyAI’s proven enterprise-grade assurances around availability, security and data protection.

“We have extensive experience deploying voice assistants to hundreds of locations for some of the largest restaurant groups in the world, helping operators resolve up to 70% of calls over the phone without the need for additional staff,” said Michael Chen, VP of Strategic Alliances at PolyAI. “This strong connection with the restaurant industry started right from the earliest days of PolyAI. We’re thrilled to deepen that further and work with OpenTable to help even more restaurant operators attract more diners, streamline operations and maximise revenue.”

The journey starts at the Integration Marketplace

OpenTable restaurants will be able to request an integration with PolyAI via its Integration Marketplace, which powers 150+ integrations among the most widely used restaurant software. Beyond managing reservations over the phone, PolyAI’s guest-led voice assistants also offer operators a powerful new channel for implementing consistent brand experiences that can deliver greater personalisation, more proactive revenue and upsell as well as offer new ways of collecting diner feedback and tracking customer satisfaction.

About PolyAI

PolyAI is a leading provider of AI-powered voice assistants. Their customer-led voice assistants are used across industries within global companies where B2C conversations are crucial, like Whitbread, Greene King, Caesars Entertainment and FedEx. PolyAI’s award-winning voice assistants have earned renown for their ability to understand natural language and provide quick, accurate and helpful responses. Hear more about what they’re bringing to the market by visiting poly.ai

About OpenTable

OpenTable, a global leader in restaurant tech and part of Booking Holdings, Inc. (NASDAQ:BKNG), helps more than 60,000 restaurants worldwide fill 1.7 billion seats a year.  OpenTable’s world-class technology empowers restaurants to focus on what matters most – their team, their guests, and their bottom line – while enabling diners to discover and book the perfect restaurant for every occasion.

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VeriPark Receives Microsoft Business Applications 2024/2025 Inner Circle Award and Joins Partner Advisory Council

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LONDON, Sept. 23, 2024 /PRNewswire/ — VeriPark, a Microsoft Solutions Partner in the Financial Services Industry, has been selected for the Business Applications 2024-2025 Microsoft Inner Circle and the Microsoft Financial Services Partner Advisory Council.

Participation within Inner Circle is based on sales achievements that rank VeriPark in the top echelon of Microsoft’s Business Applications global network of partners. Inner Circle members are known for performing at a high-level by delivering innovative solutions that help organizations excel.

Ozkan Erener, CEO VeriPark: “We are honored to once again be recognized by Microsoft for our commitment to driving digital transformation for our clients. Partnering closely with Microsoft allows us to harness the latest technologies to revolutionize the Financial Services Industry. This recognition highlights the success of our collaborative strategy and execution.”

VeriPark first joined Microsoft’s Inner Circle in 2011 and has since provided innovative solutions that help financial institutions achieve a competitive advantage. By leveraging Microsoft’s platform, VeriPark continues to offer unparalleled services and solutions to its clients.

“Partners achieving the Inner Circle demonstrate an exceptional impact helping customers accelerate their AI and digital transformation with Dynamics 365 and Power Platform,” said Peter Jensen, Microsoft Business Application Partner Strategy Lead. “Microsoft AI Cloud Partner Program partners who achieve the Business Application Inner Circle distinction stand out for their deep AI, Cloud and Industry knowledge.”

Additionally, VeriPark’s selection for the Financial Services Partner Advisory Council highlights its role in shaping Microsoft’s financial services strategies and product roadmaps. As a PAC member, VeriPark will provide feedback on Microsoft’s financial services solutions and gain early insights into future roadmaps.

About VeriPark 

VeriPark is a global solutions provider enabling financial institutions to become digital leaders by placing Customer Experience at the core of digital transformation. VeriPark’s Intelligent Customer Experience suite delivers world class customer journeys on digital and assisted channels.

With its main offices located in the United Kingdom, Europe, North America, Asia, Africa and the Middle East, VeriPark helps financial institutions to enhance customer acquisition, retention and cross-sell capabilities. Their proven, secure, and scalable solutions cover Customer Engagement, Omni-Channel Delivery, Branch Automation, and Loan Origination. VeriPark collaborates with clients, crafting innovative technology strategies and solutions, that impact millions of people daily, bringing the promise of digital transformation to life.

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Huawei Updates FTTO 2.0 and Releases New Scenario-based Products, Driving Campus Networks to Wi-Fi 7 Era

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SHANGHAI, Sept. 23, 2024 /PRNewswire/ — During HUAWEI CONNECT 2024, Huawei updated fiber to the office (FTTO) 2.0 and launched a series of new scenario-based products for industries such as education, healthcare, and hospitality. The next-generation green 10G all-optical network oriented to Wi-Fi 7 accelerates fiber-in copper-out and contributes to campus intelligence.

“In the Wi-Fi 7 era, Fiber-in Copper-out is a must for campus networks, and FTTO 2.0 commercial use is accelerating. Huawei is willing to work with customers and partners to seize opportunities in optical business, achieving a win-win future for campus intelligence.” noted Gavin Gu, President of Enterprise Optical Business Domain, Huawei.

Huawei’s FTTO 2.0 solution achieves a simplified architecture with the number of network layers cut from three to two, active to passive transition, 30% lower energy consumption, and 80% less cabling. Based on XGS-PON Pro and Wi-Fi 7 technologies, this solution supports 12.5G/25Gbps to rooms, 10Gbps to APs, and 2.5Gbps to desktops. The hard slicing technology enables multiple services to be carried over one network, reducing the TCO by 30%. This helps enterprises build green, ultra-broadband, and simplified campus networks.

At the session, Huawei released a selection of FTTO 2.0 products for various scenarios and industries.

In the education industry, Huawei launched the industry’s first high-density ultra-10G optical terminal Huawei OptiXstar P884E for smart classrooms. Meeting the requirements of high-density and high-bandwidth access scenarios, this product implements 12.5G/25Gbps to classrooms and 2.5Gbps to desktops. For dormitories, Huawei launched the industry’s first 8-port Wi-Fi 7 optical AP OptiXstar W617E, which supports unified wired and wireless access for a room with 8 students. For education metro networks, Huawei launched the edge optical gateway Huawei OptiXstar E853E. Supporting remote PON port deployment, closed-loop local service forwarding, and flexible configuration, the Huawei OptiXstar E853E meets the access requirements of all services in campuses such as primary schools and kindergartens.

For hospital wards, Huawei launched the industry’s first 10G ceiling-mounted Wi-Fi 7 optical AP Huawei OptiXstar W817C, whose seamless roaming technology enables mobile ward rounds.

For hotels, Huawei launched the next-generation three-in-one Wi-Fi 7 optical AP Huawei OptiXstar W827E-3, which supports unified access of wired, wireless, and telephone services so that one ONT can carry all services in each guest room over one fiber. In this way, it provides ultimate Wi-Fi 7 network experience at a lower cost and improves the positive feedback rate of guests.

For factory workshops, Huawei launched the small-sized industrial optical terminal Huawei OptiXstar T602E, which supports guide rail installation and fiber to the machine without extra cabinets, allowing for flexible capacity expansion. By helping to build a reliable and flexible advanced industrial network for smart factories, the product improves the quality and efficiency of factory production.

Huawei’s FTTO solution has been put into commercial use in more than 9000 campuses around the world. In addition, Huawei’s 50G POL solution that supports hard slicing has also been put into commercial use.

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SOURCE Huawei

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