Q4 2025 One United Properties SA Earnings Call Transcript
Key Points
- One United Properties SA (BSE:ONE) increased its overall profitability by 19% in 2025, with operational profitability reaching RON 572 million.
- The company delivered residential units with a gross development value of over EUR 1 billion, marking a significant achievement compared to the last 13 years combined.
- The residential segment showed a strong position with a pipeline of EUR 2.3 billion in gross development value and more than 10,000 units planned.
- The investment property segment expanded with the delivery of three new income-generating properties, including the headquarters of Infineon Technologies and the Mondrian Hotel.
- One United Properties SA (BSE:ONE) ended the year with a historical highest cash position of RON 655 million, a 52% increase compared to the previous year.
- The residential revenues decreased by 6% to RON 1.73 billion, reflecting a sales mix with properties in various construction stages.
- A new real estate law in Romania, introduced abruptly, is expected to impact the residential market and cash flow in the short term.
- There was an abrupt decline in residential revenue in Q4, with a 70% year-on-year and 71% quarter-on-quarter drop, attributed to the cancellation of non-performing contracts.
- The loan-to-value ratio increased slightly to 36%, reflecting the use of debt to fund expansion, although it remains low compared to other European developers.
- The company faced challenges with the sale of One Tower, as the transaction is not imminent, although the property continues to generate rental income.
Good morning and welcome to One United Properties conference call for presenting the preliminary 2025 results. My name is Zuzanna Kurek and I'm investor relations manager at One United Properties, and I am joined in this call by Victor Capitano, executive board member and co-founder of One United Properties, and Cosmin Samoila, CFO at One United Properties. (Operator Instructions).
In terms of organizational aspects, let me present to you the setup of the call. Firstly, we'll share the financial and operational highlights from 2025, which will be presented by our co-founder, Victor Capitano, CFO Cosmin Samoa, as well as myself. During the presentation, feel free to type any of the questions you might have in the chat window, and we'll answer them during the Q&A.
(Operator Instructions) Your questions today will be answered by Victor Capitano, Cosmin Samoila, or myself.
Please note that today's presentation is focusing only on the preliminary 2025 results and therefore, we will not be answering any
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