UNIBEP (UNI) Q3 2024 earnings summary

Executive summary

• Achieved net profit of 106.0m PLN for 9M 2024, reversing a net loss of 17.5m PLN in 9M 2023; operating profit reached 159.1m PLN, up from a loss of 1.1m PLN year-over-year.

• Revenue for 9M 2024 was 1,825.7m PLN, nearly flat year-over-year (down 0.41%).

• Adjusted for one-off real estate transactions, operating profit was 55.9m PLN and net profit 22.4m PLN for 9M 2024.

• Significant improvement in profitability and financial stability, with positive trends in operational margins.

Financial highlights

• Gross profit from sales: 124.6m PLN for 9M 2024, up from 46.3m PLN in 9M 2023.

• EBITDA and EBIT not explicitly stated, but operating profit (EBIT) was 159.1m PLN for 9M 2024.

• Basic EPS for 9M 2024 was 1.42 PLN, compared to -0.94 PLN in 9M 2023.

• Cash and equivalents at period end: 138.8m PLN, down from 311.1m PLN at 2023 year-end.

• Net cash from operations: -208.2m PLN for 9M 2024, reflecting working capital outflows.

Outlook and guidance

• Management expects continued improvement in profitability and financial position, with ongoing optimization measures.

• No material seasonality or cyclicality impacted Q3 2024 results; positive outlook for year-end due to typical construction seasonality.

• No indicators of going concern risk as of report date.