Construction company SRV has foreseen an upturn – demand for housing construction from consumers and investors remains low

Construction Company Service Vehicles Its turnover increased significantly and pushed its second quarter results to positive.

From April to June, SRV’s turnover increased by 30% year-on-year to 186.3 million euros. Operating profit increased by 1.5 million euros to a profit, compared with a loss of 3.9 million euros in the same period last year.

Profitability in the business still hasn’t stopped soaring, with an operational operating margin of 0.8 in the second quarter.

managing Director Western Polish Pocket The market is still in a wait-and-see state. However, he said that although it is difficult to predict the exact time, an improvement can be seen.

According to SRV, production of standalone homes will remain low this year. The company does not expect to complete any standalone projects during the year.

Residential construction accounted for just 9% of SRV’s turnover in the last 12 months. The majority, or 91%, of turnover came from house and infrastructure construction.

Sipola said market conditions remained the same in the first half of the year, with little demand from consumers and investors.

– With interest rates still relatively high and a large number of new owner-occupied and rental apartments on the market, demand for new properties from consumers and real estate investors remains weak, Cipolla said in his interim report.

– However, cautiously falling interest rates, relatively strong population growth in large cities and significantly lower construction costs will transform demand into growth in the coming quarters – only more strongly in a year or two, Cipolla continued.

SRV has only 96 unsold finished apartments, so the company has not invested a lot of money in them. In this sense, SRV is in a better position than its competitors. At YITThe company was also saddled with more than 1,300 unsold apartments as of the end of March.