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One United Properties posts a consolidated turnover of 306.6 million euros and a gross profit of 105.9 million euros in 2023

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BUCHAREST, Romania, Feb. 27, 2024 /PRNewswire/ — One United Properties (BVB: ONE), the leading green developer of residential, mixed-use and office real estate in Romania, posts a preliminary consolidated turnover of 306.6 million euros for 2023, a 30% increase compared to 2022. The gross profit reached 105.9 million euros, a 9% increase excluding the one-off gain from Bucur Obor’s bargain purchase of 19.1 million euros recognized in 2022. The net profit amounted to 89.6 million euros, an increase of 8% compared to 2022, excluding the one-off. 

“Last year presented numerous challenges for the real estate sector globally, yet One United Properties thrived, as evidenced by our record number of deliveries and the high pre-sales level at the developments currently under construction. Our revenue recognition policy ensures that our residential sales are not merely instant gains but unfold into long-term profitability as we progress through the construction phases. This strategic approach, underpinned by our commitment to securing a minimum of 35% profit margin across all developments, is a testament to our robust investment potential. Despite the industry’s hurdles, we maintained our loan-to-value ratio at 28%, significantly below the European real estate average of 50%. Our ability to sustain such low leverage throughout 2023 while expanding our portfolio is a clear indicator of our operational efficiency, strong balance sheet and prudent management, therefore setting excellent premises for 2024 as another year of sustained growth for our company,” said Victor Capitanu, co-CEO at One United Properties.

Revenues from the residential segment reached 226.9 million euros in 2023, a 45% year-on-year increase driven by a diverse residential offering. The value of residential sales, meaning the revenue recognized within the year for the sales made in prior years based on the level of the completion, is an absolute record for the Group, overpassing for the first time the 200 million euros mark within a single year.

At the level of sales and pre-sales of units, despite a 16%1 decrease in the number of residential sales in Bucharest in 2023, One United Properties defied market trends by increasing residential unit sales by 59% compared to 2022. The Group sold and pre-sold 953 apartments with a total surface of 80,757 sqm, as well as 1,584 parking spaces and other unit types, for a total of  274.9 million euros. By the end of 2023, 71% of the Group’s portfolio was sold and pre-sold, underlining a strong demand across all One United Properties developments. Based on the contracts signed with clients as of December 31st, 2023, One United Properties expects additional cash inflows of 295 million euros by 2025.

Nonetheless, the revenue and the profit of all sales made in 2023 are not fully reflected in the Group’s results for 2023 due to the revenue recognition applied by One United Properties. Consequently, the net margin of the residential segment reached 27.4% for 2023, a decrease vs 41.4% registered in 2022 as 3 new large-scale developments in the early stages of construction were added to the sales portfolio between Q4 2022 and Q3 2023, therefore temporarily affecting the net margin. The margin from residential sales is expected to continue increasing over the following years as these large-scale developments – One Lake Club, One High District and One Lake Club – progress. One United Properties targets a long-term margin of 35% across all its residential developments.

Rental income, including revenues from services to tenants, increased 62% to 25.9 million euros in 2023, driven by revenues from tenants at One Tower, One Cotroceni Park Office 1, One Victoriei Plaza, and Bucur Obor. One United Properties leased and pre-leased 34,200 sqm of office and retail spaces in 2023, an 8% year-on-year increase driven by the record agreement signed with Infineon Technologies for a 20,000 sqm turnkey office development. Additionally, One United Properties exited four rental properties in 2023, totalling 41.7 million euros, generating 5 times multiple on the capital invested, with IRR ranging between 30%+ to 60%+ per exit.

The Group closed 2023 with a strong cash position of 84.6 million euros, down 26% versus 2022, due to significant development activity carried out in 2023, with developments under construction amounting to more than 1.2 billion euros in gross development value as of yearend. In 2023, One United Properties completed 4 developments with a GDV of 350.4 million euros and managed 9 other construction sites with future developments of 4,241 units and over 15,000 sqm of commercial spaces. As a result, the combined value of projects completed and under construction exceeded 1.5 billion euros in 2023.

“In 2023, One United Properties didn’t just achieve record sales; we also significantly increased our development activity to meet the growing customer demand. With more than 21,000 people working on for our developments in Bucharest last year, we are not only improving the skyline of the city, but we also contribute and actively drive the growth of Bucharest economy. The total value of our developments under construction in 2023, which reached a staggering 1.5 billion euros in gross development value, showcases more than just an increase in our scale. It demonstrates our ability to effectively manage and execute multiple projects without compromising quality. This approach not only contributes to our financial achievements but also reinforces One United Properties’ reputation for reliability and timeliness, which is even more appreciated by clients in times of global economical and geopolitical uncertainties as the ones we experienced over the last two years,” said Andrei Diaconescu, co-CEO at One United Properties.

The gross loan-to-value ratio of One United Properties amounted to 28% as of the end of 2023, stable since 2022, proving solid financials and low leverage of the Group compared with the European peers. As of December 31st, 2023, net debt was 122 million euros, 12% of the total assets, which reached the historical value of 1 billion euros.

ONE UNITED PROPERTIES (BVB: ONE) is the leading green investor and developer of residential, mixed-use, and commercial real estate in Bucharest, Romania. One United Properties is an innovative company dedicated to accelerating the adoption of construction practices for safe, energy-efficient, sustainable, and healthy buildings, and has received numerous awards and recognitions for its superior sustainability, energy efficiency, and wellness. The company is publicly traded on the Bucharest Stock Exchange, and its shares are included in multiple indices such as BET, STOXX, MSCI, FTSE, ROTX and CEEplus.

1 Data for 2023 according to the Romanian National Cadastre and Real Estate Advertising Agency.

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B&R Technology Merger Corp. Announces Pricing of $325 Million Initial Public Offering

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NEW YORK, July 20, 2026 /PRNewswire/ — B&R Technology Merger Corp. (the “Company”) announced the pricing of its initial public offering of 32,500,000 units at $10.00 per unit. The units will be listed on the Nasdaq Global Market (“Nasdaq”) under the symbol “BRTMU” commencing on July 21, 2026. Each unit consists of one Class A ordinary share of the Company and one-third of one warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Company expects that the Class A ordinary shares and warrants will be listed on Nasdaq under the symbols ” BRTM” and ” BRTMW,” respectively.

The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It may pursue an initial business combination target in any business or industry.

Citigroup Global Markets Inc. (“Citigroup”) is acting as sole bookrunner and representative of the underwriters. The Company has granted the underwriters a 45-day option to purchase up to 4,875,000 additional units at the initial public offering price to cover over-allotments, if any.

This offering will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (800) 831-9146.

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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SOURCE B&R Technology Merger Corp.

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Paris-Planet Is Back with a Fresh New Way to Explore Paris

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MONTREAL, July 20, 2026 /PRNewswire/ — Planning a trip to Paris just got a little easier.

Paris-Planet has officially relaunched with a completely redesigned website that helps travelers discover and book some of Paris’s best museums, attractions, tours, and local experiences in one place.

The new site was built for people who want to spend less time jumping between dozens of websites and more time getting excited about their trip. Whether it’s your first visit to Paris or your fifth, Paris-Planet brings together the experiences that make the city unforgettable.

“We wanted to build the kind of website we would actually use ourselves,” said Chaz Desousa, founder of Paris-Planet. “There are so many incredible things to see in Paris, but planning a trip can quickly become overwhelming. Our goal was to make discovering and booking experiences simple, inspiring, and enjoyable.”

Visitors can browse everything from famous landmarks and museums to food tours, river cruises, walking tours, family activities, and seasonal events. Along with tickets and experiences, the site also features destination guides, travel tips, and ideas for making the most of every day in Paris.

The relaunch also includes a faster website, improved navigation, and a mobile-friendly design, making it easy for travelers to plan before they leave home or while they’re already exploring the city.

Activity provider can sign up here to Sell Paris Tours & Tickets Online

Paris remains one of the world’s most visited destinations, welcoming millions of visitors every year. Paris-Planet was created to help those travelers spend less time searching and more time experiencing everything the city has to offer.

About Paris-Planet

Paris-Planet is an online travel guide and booking platform focused exclusively on Paris. The website helps visitors discover museums, attractions, tours, activities, and unique local experiences while making trip planning simple and enjoyable.

For more information, visit www.paris-planet.com.

View original content:https://www.prnewswire.com/news-releases/paris-planet-is-back-with-a-fresh-new-way-to-explore-paris-302829953.html

SOURCE Paris-Planet

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Fox ESS Launches POWER BEAST to Simplify C&I Energy Storage Deployment

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SYDNEY, July 21, 2026 /PRNewswire/ — Fox ESS, a global leader in renewable energy solutions, has announced the Australian launch of POWER BEAST, a scalable commercial and industrial energy storage solution combining the H3 Plus Hybrid Inverter with the CQ7 High Voltage Storage Battery.

Traditional commercial battery systems often require extensive cabling, multiple connection points, and significant on-site assembly, “POWER BEAST combines a compact dual-stack design with fast, plug-and-play installation, reducing system height and installation complexity,” said Brooks Richard Geng, APAC & Middle East Managing Director at Fox ESS. “By integrating the H3 Plus with the scalable CQ7 platform, we are helping partners lower costs, save space and deliver C&I projects with greater confidence.”

POWER BEAST is built around the H3 Plus Hybrid Inverter, the modular CQ7 High Voltage Battery and the optional CQ7 Dual Tower Base. Available with AC output from 50 kW to 125 kW, the H3 Plus supports up to three independent battery inputs.

When paired with CQ7 batteries, a single inverter can support up to 292 kWh of storage capacity. Multiple POWER BEAST systems can scale up to 3.125 MW / 7.35 MWh for on-grid applications and 1.25 MW / 2.94 MWh for off-grid applications.

For projects targeting the NSW PDRS BESS4 capacity range, one H3 Plus 100 kW inverter paired with two CQ7 battery stacks provides approximately 195 kWh of storage capacity, allowing projects to maximise potential incentive value.

A key feature of POWER BEAST is the CQ7 Dual Tower Base, which supports two battery stacks on one shared base and keeps system height under 1.3 m. Pre-installed power and communication connections simplify installation and reduce wiring risks, while the system integrates solar PV, battery storage, EPS backup, generator and EV charging, with approximately five-second module installation.

By combining the H3 Plus Hybrid Inverter, modular CQ7 storage and the Dual Tower Base accessory, POWER BEAST provides installers, EPCs, distributors and project partners with a scalable C&I platform designed to reduce installation complexity and make more efficient use of available space. For more information, please visit: https://au.fox-ess.com/

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SOURCE Fox ESS

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