UBM Development AG Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 31, 2023 at 06:24 am EDT
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UBM Development AG reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was EUR 19.94 million compared to EUR 55.58 million a year ago. Net loss was EUR 29.96 million compared to net income of EUR 11.16 million a year ago. Basic loss per share from continuing operations was EUR 4.19 compared to basic earnings per share from continuing operations of EUR 1.17 a year ago. Diluted loss per share from continuing operations was EUR 4.19 compared to diluted earnings per share from continuing operations of EUR 1.17 a year ago.
For the six months, sales was EUR 37.84 million compared to EUR 86.11 million a year ago. Net loss was EUR 29.27 million compared to net income of EUR 15.99 million a year ago. Basic loss per share from continuing operations was EUR 4.34 compared to basic earnings per share from continuing operations of EUR 1.49 a year ago. Diluted loss per share from continuing operations was EUR 4.34 compared to diluted earnings per share from continuing operations of EUR 1.49 a year ago.
UBM Development AG is an Austria-based company. The Company's business activities primarily focuses on the development, sale and management of real estate. It offer services in market analysis, project development, planning and project management, financing, rental and asset management. In addition, the Company is engaged in the development of timber construction projects and its main focus is providing green and smart building in cities such as Vienna, Munich, Frankfurt or Prague. The Company is also active as a hotel lessee. The Company's subsidiaries are UBM Development Deutschland GmbH, UBM Development Oesterreich GmbH, UBM Development Polska and UBM Development Czechia. Its subsidiary UBM hotels Management GmbH bundles the operational know-how for hotel management and combines all UBM hotel leasing operations. The Company focuses on environmentally friendly and energy-saving solutions from the design stage and realization to utilization and revitalization.