The planned capital increase would be the fifth for One United Properties, which in July 2021 listed on the Main Market of the Bucharest Stock Exchange after having successfully raised 52.8 million euro in an IPO.

“2021 was the best year in the history of the Romanian residential real estate, with a 49% increase in the number of residential units sold in Romania and a 40% increase in the number of residential units sold in Bucharest and Ilfov region. At One United Properties, the revenues from the residential segment grew above the market, and we have delivered a record-high, 36% net margin to our shareholders. We have a good opportunity this year to expand further our landbank that will help us deliver consistent returns to our stakeholders in the years to come. Therefore, we are ready to approach the market and raise fresh equity from the investors on the Bucharest Stock Exchange,” stated Victor Căpitanu, co-CEO at One United Properties.

The capital raised will fuel the growth strategy of One United Properties, allowing the company to seize additional opportunities in the market. The new equity will be invested with priority in new developments, according to the strong existing pipeline of the company, while the current cash position will be used to accelerate the delivery of the ongoing developments. The company’s focus is to invest with priority in Bucharest, where most of the pipeline is located.

“We ended 2021 with a historically best result, and with a remarkable cash position of 103 million euro, driven by net cash proceeds from the IPO and positive cash flows generated from the sales and rental activity. We will invest this capital in 2022 to accelerate the delivery of the ongoing developments. We see good growth opportunities in the market today, and we are determined to benefit from them. Nonetheless, we want to go to the market only if the context is right. Upon the decision and approval of the capital increase in the General Meeting of the Shareholders, we will diligently select and expand our pipeline, and act, as always, in the best interest of our shareholders and ensure that we can raise new capital at the right price level, over the next 12 months,” added Andrei Diaconescu, co-CEO at One United Properties.

One United Properties intends to issue up to 330,017,986 new shares in the share capital increase operation, which will be carried out in two stages. In the first stage, the existing shareholders will be provided with the preference rights based on which they will purchase newly issued ONE shares. Shares that remain unsubscribed in the first phase will be offered to other investors in the market via a private placement. After the approval in the General Meeting of Shareholders, the decision on the timing of the operation will be made by the Board of Directors.

In 2021, One United Properties recorded revenues of 228 million euro, a 105% increase compared to the 2020 result, a historical milestone for the company. The gross profit surged 188%, reaching 123 million euro. The revenues generated by One United Properties in the residential segment amounted to 143 million euro, a 58% increase compared to 2020. In 2021, 699 apartments, 926 parking spaces and 69 commercial spaces and other units were sold and pre-sold for 202.2 million euro, a 115% increase compared to 2020. The sales took off in 2021 primarily due to the sales kick-off in the

second half of the year for One Cotroceni Park, where the Group sold 479 out of 868 residential units available. One Cotroceni Park has an estimated completion date in Q4 2023. It is the largest development of One United Properties to date which addresses the medium- to medium-high income client segment.

For 2022, One United Properties estimates revenues of 306 million euro and a gross profit of 130.5 million euro. The revenues from sales of residential properties in 2022 are estimated to reach 245 million euro, a 72% increase compared to the 2021 preliminary result, while the rental income is estimated at 14.4 million euro in 2022, a sixfold increase compared to the 2021 result. The budget for 2022, which One United Properties Board of Directors adopted on January 10th, 2022, is also subject to approval by the shareholders in the General Meeting of Shareholders on April 26th, 2022. The budget does not include the potential impact of the share capital increase operation.

 

ONE UNITED PROPERTIES is the leading green developer of residential, mixed-use and office real estate in Bucharest, Romania. One United Properties is an innovative company dedicated to accelerating the adoption of construction practices for energy-efficient, sustainable, and healthy buildings. All the company’s buildings have superior certifications for sustainability, energy efficiency and wellness, and the developer has been awarded at numerous galas and conferences in the field. One United Properties is the first real estate developer in Romania to be internationally awarded, being the recipient of the “Best Sustainable Residential Development” in the world at International Property Awards 2019-2020. The company is listed on the Main Market of the Bucharest Stock Exchange, with the symbol ONE. ONE shares are included in the FTSE Global All-Cap index, which follows the most liquid shares in the world.