In H118 Consus completed its transformation into a pure-play, residential real estate developer focused on the forward sale operating model. It keeps a stable share of forward sold investments within its portfolio at c 26%, despite expanding its gross development value (GDV) by 37.4% ytd to €6.2bn. The company has implemented IFRS 15 into its accounting policies to better reflect recognition of income from property development. Ability to deliver results in line with the expected significant bottom line improvement is crucial for the company’s future market valuation, which has been volatile in recent months.
