The Management Board of Vantage Development S.A. ("Issuer") informs that after collecting data from subsidiaries implementing developer's investments, it learned that the Vantage Development Group achieved sales in the fourth quarter of 2018 at the level of 202 units, compared to 305 premises in the fourth quarter of 2017. Cumulatively throughout 2018, the Vantage Development Group achieved a total sales of 824 units, compared to 1034 units sold in 2017. Thus, the number of units sold in the fourth quarter of 2018 decreased by 34% compared to the same period last year, and in total sales throughout 2018 were 20% lower than sales in 2017. At the same time, the Issuer reports that 470 units were issued in the fourth quarter, and in the entire period from the first to the fourth quarter of 2018, 1228 units were issued.
In accordance with the Issuer's accounting policy, sales revenue is recognized when the premises are delivered to clients. The amount of revenues from the sale of premises is not tantamount to the value of sales contracts concluded in a given reporting period.
Source: company website, investor relations, current and periodic reports.