Instone Group Maintains Solid Performance Amid Challenging Market

Instone Real Estate Group SE reports stable performance for the first nine months of 2024, aligning with full-year targets. Adjusted revenues reached EUR 384.5 million, reflecting a decrease from EUR 433.3 million in 2023 due to reduced construction output. Despite this, a high gross profit margin of 24.2% underscores effective project quality and cost leadership.

Sales figures indicate a recovery in private demand, rising to EUR 156.6 million compared to EUR 91.3 million in 2023. Instone foresees meeting its annual sales target of at least EUR 300 million, supported by positive seasonal effects in Q4-2024.

The company's financial health strengthened with an operating cash flow of EUR 127.1 million, reducing its loan-to-cost ratio to 8.8%. Instone remains poised for future growth, with a project pipeline valued at EUR 7.1 billion, despite persistent institutional market hesitancy.