RomReal: Third quarter (q3) 2021 Results and Investor Presentation
25 Noviembre 2021 - 11:00PM
RomReal: Third quarter (q3) 2021 Results and Investor Presentation
Q3
RomReal
Limited
Third Quarter
2021 Report
26
November
2021
Highlights Third
Quarter 2021
Net Asset Value
(NAV)
- Net Asset value
was EUR 0.39 (NOK 4.10, before any tax) per share, about 6.1%
higher compared to the end of the second quarter 2021.
- The year-end
2020 valuation was concluded by Knight Frank in February 2021 and
therefore no further adjustments were made to the value of the
investment properties during the quarter.
Operational highlights
- During the third
quarter of 2021, the Company sold a further 24 plots from the
Ovidiu Lake side project for a total consideration of EUR 2m.
Additionally, the Company entered several other pre-sale
transactions for a total consideration of EUR 4m. Total
infrastructure investments by end of 3rd quarter 2021was EUR
3.0m.
- Following the
end of Q3 2021, the Company entered 8 other sale transactions for a
consideration of EUR 0.6m for sales for which binding sales
agreements have been signed.
Financial Results
- Net Result for
the quarter was EUR 903,000, compared to a EUR 13,000 loss in 3Q
2020. Net change in cash flow for the quarter was a positive EUR
2,374,000 compared to surplus of EUR 183,000 in the same period
last year. This was mainly due to the ongoing sales realised during
the quarter.
- At the end of
the quarter, the Company had a cash position of EUR 3.58 million
plus a total of EUR 4.2 million in unsettled receivables related to
binding sales agreements, totalling EUR 7.78 million, or about EUR
0.16 per share.
Responsibility Statement We confirm that, to the best of our
knowledge, the condensed consolidated interim financial statements
for the third quarter of 2021, which have been prepared in
accordance with IFRS as adopted by EU and IAS 34 Interim Financial
Reporting, give a true and fair view of the Company’s consolidated
assets, liabilities, financial position and results of operations.
To the best of our knowledge, the interim report for the third
quarter of 2021 includes a fair review of important events that
have occurred during the period and their impact on the condensed
financial statements, the principal risks and uncertainties for the
remaining period of 2021, and major related party transactions.
November 25, 2021
The Board of Directors RomReal Limited Hamilton, Bermuda:
Kjetil Grønskag (Chairman & CEO), Bendt Thorkildsen
(Director), Heidi Sørensen Austbø (Director)and Lacramioara
Isarescu (Director)
Questions should be directed to: Kjetil Grønskag: Chairman &
CEO, +44 776 775 4119
CONTACT INFORMATION RomReal LimitedPostal
address: Burnaby Building, 16 Burnaby street, Hamilton HM11,
Bermuda Telephone: Tel- +1-441-293-6268 Fax +1-441-296-3048 |
www.RomReal.com
Visiting address: 54 Cuza Voda street, Constanța, Romania
Tel: +40-241-551488
Fax:
+40-241-551322
IR Kjetil Gronskag+44 776 775 4119|
investors@RomReal.com
For further information on RomReal, including presentation
material relating to this interim report and financial information,
please visit www.RomReal.com.
DISCLAIMER
The information included in this Report contains
certain forward-looking statements that address activities, events
or developments that RomReal Limited (“the Company”) expects,
projects, believes or anticipates will or may occur in the future.
These statements are based on various assumptions made by the
Company, which are beyond its control and are subject to certain
additional risks and uncertainties. The Company is subject to a
large number of risk factors including but not limited to economic
and market conditions in the geographic areas and markets in which
RomReal is or will be operating, counterparty risk, interest rates,
access to financing, fluctuations in currency exchange rates, and
changes in governmental regulations. For a further description of
other relevant risk factors, we refer to RomReal’s Annual Report
for 2020. As a result of these and other risk factors, actual
events and our actual results may differ materially from those
indicated in or implied by such forward-looking statements. The
reservation is also made that inaccuracies or mistakes may occur in
the information given above about current status of the Company or
its business. Any reliance on the information above is at the risk
of the reader, and RomReal disclaims any and all liability in this
respect.
- RomReal - Q3 2021 Presentation
- RomReal Q3 2021
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