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UBM Development AG: UBM with "black zero" and twice the number of apartments sold
Vienna (pta006/28.08.2025/07:00 UTC+2)
- Apartment sales quadruple over 2023, demand unbroken
- Equity ratio again above 30% and €167m of cash
- Repayment of bonds, promissory note loans and bearer bonds well secured
- Outlook: On track to profitability in the second half year
Vienna, 28.08.2025 – UBM Development AG ("UBM") reached a "black zero" during the second quarter. An increase of 39% in revenues reduced negative earnings by nearly half for the first six months of 2025 and resulted in profit before tax of minus €5.8m. UBM continued its successful apartment sales during the first half of 2025. Over 200 units sold more than doubled results compared with the first half of 2024 and represent a fourfold increase over the 2023 half year.
"We are currently seeing a flight into real values. Gold and stocks are not far from historical highs, and it is merely a matter of time until real estate follows this trend", explained UBM CEO Thomas G. Winkler.
Solid financial position
A consequent focus on strict cash management gives UBM a solid liquidity position. As of 30 June 2025, cash and cash equivalents totalled €167.3m. The successful placement of the first green hybrid bond in May 2025 helped to smooth the repayment profile and, at the same time, strengthened the equity base. The equity ratio equalled 30.1% at the end of June 2025 based on total assets of €1,166.6m. The UBM bond 2019–2025 which is due in November this year will be redeemed from available liquid funds without a problem. As a long-standing, regular issuer, UBM continues to monitor developments and climate on the capital market in order to utilise the next window.
Sustainable pipeline with 2,800 apartments
UBM's pipeline projects for the next four years have a total volume of roughly €1.9 bn – over 90% in Austria and Germany with a focus of nearly 60% on the residential asset class. With nearly 2,800 units in development, realisation or sale, UBM is optimally positioned in the booming housing market. Standardisation, modularisation and the continued use of timber as a building material are the central levers for the future.
Outlook
Based on these developments, UBM expects a return to profitability during the second half of 2025. The company benefits from the current uncertainty that has triggered a flight into real values, whereby real estate still has substantial catch-up potential due to the negative media reports. This development will also be driven by strong demand and an increasingly smaller supply. Housing starts in Germany fell by 85% in Q2/25 compared with the peak in Q4/22, while the year-on-year increase in housing prices equalled 3.8% in Germany, 4.0% in Austria and a substantially higher 17% in the Czech Republic.
Earnings and financial indicators in detail
UBM generated Total Output of €140.3m in the first half of 2025, compared with €249.1m in the first half of the previous year. This decline resulted primarily from the sale of four major non-strategic assets in 2024. However, revenue rose by 39% and EBT improved to €–5.8m versus €-10.9m in the prior year period. Net profit of €-6.6m (H1/24: € -12.5m) means a reduction of half in the loss from the first half of 2024. Earnings per share based on net profit equalled €-1.32 for the reporting period.
Key performance indicators H1 2025 UBM Development
| Key earnings figures (in €m) | 1-6/2025 | 1-6/2024 | Change |
| Total Output1 | 140.3 | 249.1 | -43.7% |
| Revenue | 59.6 | 42.9 | 39.0% |
| EBT | -5.8 | -10.9 | 47.0% |
| Net profit | -6.6 | -12.5 | 47.5% |
| Key asset and financial figures (in €m) | 30.6.2025 | 31.12.2024 | Change |
| Total assets | 1,166.6 | 1,182.4 | -1.3% |
| Equity | 351.0 | 343.7 | 2.1% |
| Equity ratio (in %) | 30.1% | 29.1% | 1.0 PP |
| Net debt2 | 546.4 | 545.9 | 0.1% |
| Cash and cash equivalents | 167.3 | 199.5 | -16.1% |
| Key share data and staff | 30.6.2025 | 30.6.2024 | Change |
| Earnings per share (in €)3 | -1.32 | -2.06 | 35.9% |
| Market capitalisation (in €m) | 156.9 | 159.2 | -1.4% |
| Dividend per share (in €) | - | - | - |
| Staff | 218 | 252 | -13,5% |
1 Total Output corresponds to the revenue and incr./decr. in real estate inventories from fully consolidated companies, proportional revenue from
companies consolidated at equity, and the revenue from property sales through share or asset deals.
2 Net debt equals current and non-current bonds and financial liabilities, excluding leasing liabilities, minus cash and cash equivalents.
3 Earnings per share after the deduction of hybrid capital interest. Values are based on H1.
UBM Development is one of Europe´s leading developers of timber construction projects. The strategic focus is on green and smart building in major cities like Vienna, Munich, Frankfurt or Prague. Platinum from EcoVadis and Prime Status from ISS ESG confirm the consequent focus on sustainability. With over 150 years of experience, UBM offers all development services from a single source, from planning to marketing. The shares are listed on the Prime Market of the Vienna Stock Exchange, the segment with the highest transparency requirements.
https://youtu.be/mB3CikI7qvI(end)
| Emitter: |
UBM Development AG Laaer-Berg-Straße 43 1100 Wien Austria |
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| Contact Person: | Christoph Rainer | |
| Phone: | +43 664 80 1873 200 | |
| E-Mail: | investor.relations@ubm-development.com | |
| Website: | www.ubm-development.com | |
| ISIN(s): | AT0000815402 (Share) AT0000A2AX04 (Bond) AT0000A2QS11 (Bond) AT0000A35FE2 (Bond) AT0000A3FFK1 (Bond) AT0000A3K955 (Bond) XS2355161956 (Bond) | |
| Stock Exchange(s): | Vienna Stock Exchange (Official Trade); Free Market in Frankfurt (Scale) |