Archicom posted PLN 242.25m net profit from continuing operations, PLN 296.58m EBIT in 2023

Archicom posted PLN 242.25m net profit from continuing operations in 2023, compared to PLN 95.24m profit a year earlier, the company said. Net profit from continuing and discontinued operations combined, attributable to shareholders of the parent company, amounted to PLN 245.19m, against PLN 110.22m profit a year earlier.

Operating profit was PLN 296.58 million against PLN 115.34 million profit a year earlier.

Consolidated sales revenue reached PLN 1 101.06 million in 2023 against PLN 499.68 million a year earlier.

"2023 [...] was a time of positive changes and dynamic growth for Archicom. Archicom achieved record revenue growth from PLN 499.7 million in 2022 to PLN 1 101.1 million in 2023. The landmark date was 1 August 2023, on which day the contribution of the residential business by Echo Investment to Archicom took place. Thus, by taking over the land bank and part of the team, we went from being the leader in the Wrocław market, which we had been building for 37 years, to becoming one of the leading nationwide residential developers," announced CEO Waldemar Olbryk.

"The intensive land acquisition process, which began in 2023 and translated into purchases in attractive locations of the largest Polish cities for a total of PLN 337 million, is the realisation of our vision of being the developer of first choice. We will continue to continue to acquire plots of land, mainly in central locations and with a wide range of amenities, especially in Warsaw, Wrocław and Kraków. Land acquisitions were preceded by record bond issues totalling PLN 272 million and a share issue of PLN 220 million. These results confirm that our activities are gaining acceptance on the financial market," reported the CEO.

He recalled that the achievement of the short-term sales target of 3,000 units in 2024 and the medium-term target of 4,000 units in the following years is linked to the ambitious plan to launch 28 residential projects in 2024 alone.

On a standalone basis, net profit in 2023 was PLN 52.75 million compared to PLN 56.14 million profit a year earlier.

Source: Archicom Group and ISBnews
Photo: Flow, Archicom