UBM Development AG
VSE:UBS
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UBM Development AG
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UBM Development AG
UBM Development AG engages in the real estate development. The company is headquartered in Wien, Wien and currently employs 355 full-time employees. Its range of services comprises of market and real estate evaluation, including market observation, market evaluation and cash flow analysis; land acquisition and construction, including the compilation of property studies and drawing up of financial models; operations and administration, comprising asset management, facility management, processing leasing and due diligence support; marketing and sales, including evaluation activities of profit developments for long-term investors; and service, encompassing maintenance management of property as well as fulfilling guarantee services. UBM operates through its subsidiaries in Austria, Bulgaria, Cyprus, the Czech Republic, Germany, Croatia, Hungary, the Netherlands, Poland, Romania, the Russian Federation, Slovakia, Ukraine, France and Luxembourg.
UBM Development AG engages in the real estate development. The company is headquartered in Wien, Wien and currently employs 355 full-time employees. Its range of services comprises of market and real estate evaluation, including market observation, market evaluation and cash flow analysis; land acquisition and construction, including the compilation of property studies and drawing up of financial models; operations and administration, comprising asset management, facility management, processing leasing and due diligence support; marketing and sales, including evaluation activities of profit developments for long-term investors; and service, encompassing maintenance management of property as well as fulfilling guarantee services. UBM operates through its subsidiaries in Austria, Bulgaria, Cyprus, the Czech Republic, Germany, Croatia, Hungary, the Netherlands, Poland, Romania, the Russian Federation, Slovakia, Ukraine, France and Luxembourg.
Profitability: Q3 EBT was EUR 1.9 million, marking a second consecutive profitable quarter and management expects Q4 to continue the positive momentum, leaving the second half profitable overall.
Residential momentum: Residential sales are rebounding — 355 units sold year-to-date, a pipeline of 2,800 apartments, and management expects around 450 units for the full year ( >10% growth vs. 2024).
Balance sheet: Equity ratio is 30% with equity of EUR 349 million, net debt EUR 583 million and cash EUR 142 million; the company raised EUR 166.5 million in capital markets this year (including a EUR 75 million green bond).
Business model changes: Prefabrication and timber-hybrid construction are central to the strategy (prefab rates: 23% on Timber Pioneer, 43% on LeopoldQuartier office) and management expects material margin improvements from standardization.
Market outlook: Management reconfirmed that 2025 will be significantly better than 2024 and highlighted persistent housing undersupply (Vienna completions falling ~46% from 2023 to 2026) supporting prices (Vienna ~EUR 9,500/sqm; Prague ~EUR 7,111/sqm).
Asset-class notes: Office recovery timing unknown — plan B is to hold assets as standing assets (e.g., Timber Pioneer) to free liquidity; hotels may recover next and UBM has five hotels on the shelf.
Capital actions / transactions: Post-period sale of 50% of Timber Marina Tower (book-value transaction with no material P&L gain/loss expected); remaining 2019 bond and promissory notes (~EUR 90 million) to be repaid in Q4 to improve ratios.
