On October 9th, 2023, One United Properties (BVB: ONE), the leading green developer of residential, mixed-use, and office real estate in Romania, held a General Meeting of Shareholders (GMS). In the GMS, the shareholders approved, among other items, the audited financial statements for the first six months of 2023, the distribution of the 2023 half-year dividend, the share buyback, as well as contracting various credit facilities for developments currently under construction. The quorum for both meetings overpassed 94.5%.

“On behalf of One United Properties’ Board of Directors, I would like to thank all our shareholders for their unwavering trust and active involvement in our latest General Meeting. The unanimous approval of the agenda and the record quorum underscore our shared vision and determination. The approval of the 2023 half-year dividend, coupled with our commendable financial performance in the first half of the year, stands as a testament to One United Properties' strong commitment to delivering consistent shareholder value. Our strategic initiatives have translated into robust growth rates and tangible benefits for our investors. As we continue to pioneer green developments in Romania, we remain dedicated to sustainable growth and enhancing shareholder returns,” said Claudio Cisullo, Chairman of the Board at One United Properties.

In the first six months of 2023, One United Properties recorded a consolidated turnover of 171 million euros in H1 2023, a 26% increase compared to H1 2022. The gross profit reached 69.8 million euros, a 17% increase excluding the one-off gain from Bucur Obor’s bargain purchase recognized in H1 2022 of 19 million euros. The net profit stood at 58.2 million euros, an increase of 13% compared to H1 2022 (a 17% year-on-year decrease if including the gain impact). The amounts to be received under contracts concluded with customers as of June 30th, 2023, reached the historical high of 281 million euros in additional cash by 2025. The gross loan-to-value indicator improved by 3pp, going down to 25% as of June 30th, 2023, while the net of cash loan-to-value was 14%.

In the OGMS held on October 9th, 2023, the shareholders approved the payment of a dividend of 7.6 million euros, approximately 0.002 euro (0.01) lei per share, which will be paid on January 31st, 2024, to the shareholders who hold ONE shares at the registration date of January 16th, 2024. One United Properties’ dividend policy includes the payment of dividends semi-annually, with the first tranche being approved in September/October of a given year based on half-year audited results and the second tranche approved in April, together with the audited annual report.

Additionally, the EGMS greenlit a share buyback capped at 3 million euros and the empowerment of the Board related to share capital increase for executing the Stock Option Plan, contingent on the performance of the Executive Members of the Board of Directors, as previously approved by the shareholders. Decisions were also taken regarding contracting various credit facilities for the upcoming One Gallery, One High District, One Lake District, and One Lake Club developments. 

One United Properties shareholders could vote in the GMS in person and online, using the eVote solution, which streamed both the Ordinary and Extraordinary meetings in real-time. 

__

One United Properties (BVB: ONE) is the leading green investor and developer of residential, mixed-use, and commercial real estate in Bucharest, Romania. One United Properties is an innovative company dedicated to accelerating the adoption of construction practices for safe, energy-efficient, sustainable, and healthy buildings. It has received numerous awards and recognitions for its superior sustainability, energy efficiency, and wellness. The company is publicly traded on the Bucharest Stock Exchange, and its shares are included in multiple indices such as BET, STOXX, MSCI, FTSE, ROTX and CEEplus.

*This is a Press release.