14:17 26 August 2024
Marvipol Development had PLN 1.32 mln net profit in Q2 2024
Marvipol Development reported a consolidated net profit of PLN 1.32 million in Q2 2024, down from PLN 39.61 million the previous year. Operating profit also fell to PLN 1.96 million from PLN 57.55 million. Consolidated sales revenues dropped to PLN 40.29 million from PLN 197.23 million y/y.
In H1 2024, the company experienced a consolidated net loss of PLN 4.04 million compared to a PLN 45.27 million profit in H1 2023. Revenues were PLN 66 million, down from PLN 268.05 million. The lower revenue resulted from reduced property handovers and a negative operational result in the warehouse segment, partially offset by gains in other real estate assets.
Despite the downturn, Marvipol maintains a secure liquidity position and reduced net debt by 13% to PLN 147.3 million. For H1 2024, net profit in standalone terms was PLN 61.35 million, up from PLN 15.47 million the previous year.
