RomReal (ROM) Q3 2024 earnings summary

Executive summary

• Net Asset Value (NAV) per share was EUR 0.41, down 1.2% from Q2 2024, with total NAV at EUR 16.8m and cash position of EUR 4.1m at quarter end.

• Q3 2024 saw a net loss of EUR 216,000, reversing a profit of EUR 934,000 in Q3 2023.

• Cash position at quarter end was EUR 4.1m, with an additional EUR 2.3m in unsettled receivables from binding sales agreements.

• Property sales included the last of four older Oasis houses and an agreed sale of one Lakeside house; infrastructure investments reached EUR 10.11m.

• Positive cash flow of EUR 113,000 due to plot sales and capitalized infrastructure expenses.

Financial highlights

• Operating revenue was EUR 68,000, down from EUR 3.14m in Q3 2023 due to fewer asset disposals.

• Operating expenses were EUR 277,000, up from EUR 254,000 year-over-year.

• Net financial income was EUR 77,000, up from EUR 59,000 in Q3 2023.

• Result before tax was a loss of EUR 136,000, compared to a EUR 1.33m profit in Q3 2023.

• Cash position increased to EUR 4.1m from EUR 3.3m year-over-year.

Outlook and guidance

• Focus remains on cost control, modest risk, and no cash return to shareholders amid political and economic uncertainty.

• A catalyst for improved performance is expected to be a significant increase in property sales.