Nova Construction has raised profits by 2500,3 times in the last three years

2023-08-10 17:44:41Fokus SHKRUAR NGA REDAKSIA VOX
Nova Construction earnings

The company Nova Construction, which will build the tower after the Opera and Ballet Theatre, is relatively new in this market. Founded in 2012, until before 2019 it was little known in the market.

The company's financial statements show that until before 2019, the company has had a peripheral role in the construction field in Tirana.

Figures reflected by Open Data show that in 2013, the company registered a profit of nearly 6 million ALL. This is not the company's weakest year. In 2019, the company reports only 2 million all profits, or less than 20 thousand euros.

Things change in 2020, where the company reports a profit before tax 50 times higher than the previous year, or about 100 million ALL.

The positive data continues in 2021, when Nova Construction reports a 65 percent increase in profit compared to 2020 and almost the same growth in 2022.

In total, the company currently has in the process of construction or completion of seven major projects in Tirana, with a total construction cost not exceeding 200 million euros. It is a project like White Tower, Tirana Entry, or Garden Building.

The figure shows the cost of building these objects, while the market value after the sale exceeds 500 million euros. Accounting for a minimum profit margin of 10 percent, as much as the latest data in the construction sector for profits from 2015, it turns out that Nova has grown by 2500,30 times its profit within three years, breaking every market theory. Apple in the first year after the launch of the iPhone did not increase its profits by more than <> percent.

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Nova Construction has raised profits by 2500,3 times in the last three years