The REDSTONE Group has published financial data from the consolidated financial statements of its parent company, REDSTONE REAL ESTATE, a.s., for last year. In 2022, the development company significantly increased its fixed assets, whose value rose by almost CZK 1.2 billion. Its consolidated profit before tax is CZK 273.9 million. The implementation of its own investment projects has contributed significantly to this positive result. The group is growing dynamically and is preparing a number of other new business activities.
The group's total assets for 2022 amount to CZK 5.2 billion. This represents a significant year-on-year increase in value (see chart). The group's equity amounted to approximately CZK 1.4 billion.
The year 2022 was marked by intensive construction work. In the area between Olomouc and Bystrovany, the development group started construction of the first halls of the East Park Olomouc production and logistics complex. It also managed the construction of the Šantovka Living residential complex, which offers first-class living in the center of Olomouc. The project, the first phase of which has already been completed and the next two are at an advanced stage of implementation, has already received a number of prestigious awards. The greatest success is the international HOF AWARDS 2023 for the best residential project in Central and Eastern Europe.
The Envelopa Office Center, which Redstone manages through its subsidiary, also received another significant award, this time in the Estate Awards competition. Last year, a number of successful and progressive companies found a home in these modern offices. FreeWork serviced offices were also opened. The administrative complex on Kosmonautů Avenue is successfully gaining a reputation as an attractive business destination.
The developer also continued to clean up the former brownfield site on Velkomoravská Street, where most of the former barracks buildings had already disappeared by the end of the year. In parallel with the demolition work, an urban study was also being prepared, proposing the future layout of the area.
The group also prepared new projects. It worked intensively on the final details of the Pernerka Gallery in Pardubice and the expansion of the existing Šantovka Gallery shopping center in Olomouc, which the developer plans to unveil in the near future. The Redstone Group also signed a cooperation agreement with the prestigious international hotel chain Marriott. The joint goal is to open four-star AC Hotels by Marriott hotels in Pardubice and Olomouc on the basis of a franchise agreement, a brand that is not yet represented in the Czech Republic.
“Our group is growing dynamically. The financial results are a clear demonstration of the quality of our projects and confirmation of the correctness of our business plans. I believe that consistency and high-quality construction are the basis of our success, on which we will continue to build our position,” said Richard Morávek, founder of the Redstone Group, assessing the financial results of the previous year.
Petr Hlavka
Press Secretary
+420 723 178,795
