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UBM Development AG: UBM cuts six-month loss in half during Q3

Wien (pta008/23.11.2023/07:00 UTC+1)

  • Over €250m of cash and equity ratio of 30%
  • Further extension of ESG branch leadership
  • Outlook: loss expected for the full 2023 financial year

Vienna, 23 November 2023 – UBM Development can look back on a strong third quarter which was supported by the receipt of the preliminary building permit for the Timber Factory in Munich's Baubergerstrasse at the end of July 2023. Following negative effects from the revaluation of projects and properties at the half-year that also affected the entire real estate industry, the company nearly cut the six-month loss in after-tax profit in half from €-29.3m to €-15.0m within a single quarter. "UBM is different. With over a quarter of a billion in cash and a 30% equity ratio, we are still sailing well through the perfect storm," indicated UBM CEO Thomas G. Winkler.

Strong balance sheet for a difficult market environment

An equity ratio of 30% and over €250m in liquid funds demonstrate UBM's relative strength. The focus on cash allowed UBM to also hold its liquidity at a high level in the third quarter of 2023 and even record a slight increase over the half-year. The underlying factors included, among others, the successful placement of the first UBM green bond in July 2023 which brought an additional €50m of fresh capital. Cash and cash equivalents totalled €253.0m as of 30 September 2023 and it should be noted that, beginning with the fourth quarter of 2023, no bond repayments are due for the next two years.

Emissions goals & Green Lease Framework

The company's overall carbon footprint was calculated for the first time to permit the definition of science-based emission goals and arrange for their validation by the Science Based Targets Initiative. UBM's goal is to achieve a 42% reduction in Scope 1+2 emissions by 2030 and to become completely climate neutral over the long-term (by 2050). In addition, UBM has published a Green Lease Framework that shows configuration options and is intended to facilitate the sustainable use and management of office buildings.


The fourth quarter of this year is not expected to bring any substantial improvement in the real estate market, and that means UBM perceives it as unlikely to complete any significant property sales up to the end of 2023. Based on the revaluation of projects and properties during the first nine months of this year and the current standstill on the transaction market, UBM's Management Board expects a continuation of the difficult market environment during the fourth quarter and also a loss for the full 2023 financial year.


Emitter: UBM Development AG
Laaer-Berg-Straße 43
1100 Wien
Contact Person: Christoph Rainer
Phone: +43 664 80 1873 200
ISIN(s): AT0000815402 (Share) AT0000A1XBU6 (Bond) AT0000A23ST9 (Bond) AT0000A2AX04 (Bond) AT0000A2QS11 (Bond) XS1785474294 (Bond) XS2355161956 (Bond)
Stock Exchange(s): Vienna Stock Exchange (Official Trade); Free Market in Frankfurt (Scale)