Ekospol posts sales of CZK 900m, profit of CZK 139m in 2020/21

Developer Ekospol reported sales of CZK 900m and a profit of CZK 139.3 million in the 2020/2021 fiscal year after sales of CZK 289 million and a profit of CZK 3.8 million in 2019/2020, according to the company's annual report.

The company founder and owner Evzen Korec celebrated 30 years on the market this year.

Ekospol's last reporting period lasted from March 1, 2020, until December 31, 2021, or 22 months, while the preceding reporting period lasted 14 months from January 1, 2019, to February 29, 2020.

The company's reporting period is usually longer as flats become part of tax revenues only after purchase contracts are submitted to the land registry, according to Korec.

"Ekospol's main goals include selling off all units in the residential projects before they are completed. We have managed to meet this goal in 2020-2021 as well," he added.

Ekospol operates almost exclusively on the territory of the capital city of Prague and since its establishment in 1992, it has become one of the leaders of development in the metropolis.

In the future, Ekospol plans to build 7,000 flats worth over CZK 35 billion. According to Korec, the company owns half a million square metres designated for residential construction.

Ekospol completed its first purely residential project in 1998 and has since built flats for 10,000 people. As of the end of last year, the company employed 38 people.

Source: Ekospol and CTK