May 18 (SeeNews) - Romania's Impact Developer & Contractor [BSE:IMP], the parent company of Impact Group, said that the group recorded a preliminary consolidated net loss of 8.1 million lei ($1.8 million/1.6 million euro) in the first quarter of 2023, compared to a net profit of 6.1 million lei in the like period of 2022.
The group’s revenue rose by an annual 42% to 21.8 million lei in the first three months of 2023, Impact said in a preliminary annual financial statement filed with the Bucharest Stock Exchange, BVB, on Monday.
The group’s costs of sales fell 26% on the year to 15.3 million lei in the January-March period.
Total assets increased to 1.474 billion lei at the end of March, marginally up from 1.443 billion lei at the end of 2022, while total liabilities rose to 592.9 million lei from 553.7 million lei.
Impact sold 24 units during the first three months of 2023, generating revenues of 3.9 million euro ($4.2 million). As at end-March, the group had 457 dwellings pre-sold and reserved with a total value of 50 million euro.
Impact Developer & Contractor, the parent company, recorded a net loss of 6.9 million lei, which represents 85.7% of the group’s loss.
The unaudited consolidated financial results of the group include the results of the parent company and twelve subsidiaries, of which the parent fully owns nine and holds majority stakes in three. The subsidiaries offer architecture, construction, real estate development, property management, as well as administration and financing services.
Impact Developer & Contractor's shares traded 1.07% higher at 0.283 lei as at 1348 CET on the BVB on Thursday.
(1 euro=4.9731 lei)