RomReal (ROM) Q2 2024 earnings summary

Executive summary

• NAV per share was EUR 0.41, down 1.1% from Q1 2024, with total NAV at EUR 16.99m.

• Q2 2024 saw a net loss of EUR 169,000, reversing a EUR 19,000 profit in Q2 2023.

• Cash position at quarter-end was EUR 4.0m, with EUR 2.4m in unsettled receivables.

• Property sales included the third of four older houses on Oasis and a 15,000 m2 plot at Centrepoint.

• Infrastructure investments reached EUR 9.73m, with EUR 4.28m finalized, mainly at Ovidiu Lake Side.

Financial highlights

• Operating revenue was EUR 193,000, up from EUR 169,000 in Q2 2023.

• Operating expenses increased to EUR 345,000 from EUR 168,000 year-over-year.

• Net financial income was EUR 69,000, up from EUR 56,000 in Q2 2023.

• Result before tax was a loss of EUR 149,000, versus a EUR 374,000 gain in Q1 2024.

• Cash flow from operations was positive at EUR 99,000, up from negative EUR 374,000 in Q2 2023.

Outlook and guidance

• Cautious approach maintained, focusing on cost control and modest risk; no cash return to shareholders planned.

• Political turbulence expected due to late 2024 elections and widening fiscal deficit.

• Recent policy rate cuts and reduced inflation are expected to support the residential market.