Rank Progress had PLN 3.49 million in net profit and PLN 0.6 million in EBIT in 2021

Rank Progress recorded PLN 3.49 million of consolidated net profit in 2021 compared to PLN 54.47 million profit a year earlier, the company said in the report.
The operating profit amounted to PLN 0.6 million versus PLN 82.31 million profit a year earlier.

Consolidated sales revenues reached PLN 61.46 million in 2021 compared to PLN 119.26 million a year earlier.

“In 2021, as in previous years, the sale of land properties had the largest share in revenues. The total revenue on this account amounted to PLN 14 million and was due to the transaction of sale of a land property in Otwock. Additionally, operating in the holding structure as the parent company, Rank Progress S.A. also derives its basic income from remuneration for sureties and guarantees granted, from commercial facility management services and from consulting services related to the lease of commercial space. Last year, this type of revenue amounted to PLN 6.9 million. As a company, we intend to continue our operations in the adopted model, focusing on investment, commercialization and operational optimization processes. We also focus on finding short-term, high-margin investment opportunities in the real estate industry, carefully observing the market, ”wrote the President of Rank Progress Jan Mroczka in the letter.

On a standalone basis, the net profit in 2021 amounted to PLN 15.01 million compared to PLN 3.53 million loss a year earlier.

Rank Progress is an investment and development company. It made its debut on the WSE main market in 2010. 

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