UBM Development AG Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 23, 2023 at 08:52 am EST
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UBM Development AG reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was EUR 25.02 million compared to EUR 29.27 million a year ago. Net income was EUR 14.38 million compared to net loss of EUR 1.56 million a year ago. Basic earnings per share from continuing operations was EUR 1.74 compared to basic loss per share from continuing operations of EUR 0.49 a year ago. Diluted earnings per share from continuing operations was EUR 1.74 compared to diluted loss per share from continuing operations of EUR 0.49 a year ago.
For the nine months, sales was EUR 62.86 million compared to EUR 115.38 million a year ago. Net loss was EUR 14.89 million compared to net income of EUR 14.43 million a year ago. Basic loss per share from continuing operations was EUR 2.61 compared to basic earnings per share from continuing operations of EUR 1 a year ago. Diluted loss per share from continuing operations was EUR 2.61 compared to diluted earnings per share from continuing operations of EUR 1 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.