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Business Summary: BBI Development SA is a Poland-based development fund manager. The Fund was established as a part of the Program of National Privatization. BBI Development Narodowy Fundusz Inwestycyjny SA’s main activity is investing in the development projects, including the financing and managing real estate projects from the stage of acquiring land to the sale of premises, in certain cases preceded by a lease. Additionally, it invests in Polish and foreign currencies through the bank deposits. It operates on the basis of the Act of National Investment Funds. As of December 31, 2011, it formed a capital group with a number of subsidiaries, such as Realty 2 Management Sp. z o.o., Juvenes-Projekt Sp. z o.o. and Juvenes-Serwis Sp. z o.o.
Financial Summary: BRIEF: For the nine months ended 30 September 2023, Bbi Development SA revenues increased 46% to PLN19.5M. Net income totaled PLN29.1M vs. loss of PLN5M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net Income reflects Equity Earnings - before Tax increase from PLN762K to PLN43.5M (income), Administrative Expenses decrease of 2% to PLN9.2M (expense).