Outlook for 2023 (unchanged)
During 2023, SRV’s revenue and result will be affected by several factors in addition to general economic trends, such as: the timing and amount of income recognition for SRV’s own projects, which are recognised as income upon delivery; the margin of the order backlog and its development; the start-up of new contracts and development projects; the war that Russia started against Ukraine, including its related direct and indirect effects, such as material costs and the availability of materials and labour; and changes in demand. Higher interest rates and inflation have a negative impact on demand for housing and business premises among consumers and investors, and thus pose uncertainty with respect to the estimated start-ups of new projects.
Revenue in 2023 will mainly be generated by cooperative contracting and development projects sold to investors. At the beginning of the year, the order backlog will focus strongly on cooperative contracting, which involves fewer risks but lower margins, due to which the largest share of earnings in 2023 is expected to be generated in the latter part of the year. In 2023, the share of revenue accounted for by developer-contracted housing production will remain small.
- Consolidated revenue for 2023 is expected to decrease compared to 2022 (revenue in 2022: EUR 1 million).
- Operative operating profit is expected to be positive, but lower than the operative operating profit for 2022 (operative operating profit in 2022: EUR 9 million).