Balwin Properties Ltd. · JSE:BWN

Balwin Properties — H1 FY2026 Earnings Presentation

46 slides from Balwin Properties's earnings presentation, Aug 31, 2025

  1. Slide 1: Balwin Properties Results Presentation for the Six Months Ended 31 August 2025

    Your lifestyleour focus BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 1

  2. Slide 2: Agenda

    AGENDA 1 2 3 Izinga Eco Estate Greenpark The Eastlake OPERATIONAL OVERVIEW FINANCIAL OVERVIEW ANNUITIES 4 5 6 Ballito Hills The Polofields De Aan-Zicht SUSTAINABILITY LOOKING FORWARD ANNEXURES BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 2

  3. Slide 3: Operational Overview

    1 OPERATIONAL OVERVIEW Steve Brookes Chief Executive Officer THABA-ECO VILLAGE LIFESTYLE CENTRE BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 3

  4. Slide 4: Operational Highlights

    OPERATIONAL HIGHLIGHTS 928 8.3% 27 764 Apartments sold and recognised in Revenue contribution to the group from Apartments with International EDGE revenue for the period Balwin Annuities certification IZINGA THABA-ECO VILLAGE 51% 35 068 60 Revenue contribution from sale of Apartments in development

  5. Slide 5: Operational Review

    OPERATIONAL REVIEW Revenue increased 44% to R1.2 billion compared to the prior comparative period, reflecting the improved market conditions in the residential housing market Total number of apartments handed over amounted to 928 during the period (August 2024: 640 apartments) 52% of revenue recorde

  6. Slide 6: Operational Review

    OPERATIONAL REVIEW BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 6

  7. Slide 7: Development Pipeline

    DEVELOPMENT PIPELINE Total apartments in Total apartments Total apartments Total apartments Total apartments sold but Total unsold Development development sold registered recognised in revenue not recognised in revenue apartments Balwin pipeline Gauteng 33 128 8 937 8 727 8 777 160 24 191 24 351 Kwa

  8. Slide 8: Financial Overview

    2 FINANCIAL OVERVIEW Jonathan Bigham Chief Financial Officer THE HUNTSMAN BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 8

  9. Slide 9: Financial Overview

    FINANCIAL OVERVIEW FOR THE SIX MONTHS ENDED 31 AUGUST 2025 R1.2 billion 44% 29% 3% R193.1 million 24% R102.4 million 33% Revenue Gross profit margin Operating costs Profit for the period FYNBOS THE REID KIKUYU 20.91 cents 29% R303.4 million Loan-to-value 39.3% 946.03 cents  8% Headline earnings per

  10. Slide 10: Interim Consolidated Statement of Profit and Loss and Other Comprehensive Income

    INTERIM CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 31 AUGUST 2025 BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 10

  11. Slide 11: Financial Performance: Revenue

    FINANCIAL PERFORMANCE FOR THE SIX MONTHS ENDED 31 AUGUST 2025 Revenue Revenue increased by 44% to R1.2 billion (August 2024: R852.7 million) Revenue earned from the following sources: Revenue from sale of apartments Apartments handed over increased by 45% to 928 apartments (August 2024: 640 apartmen

  12. Slide 12: Apartments Recognised in Revenue

    APARTMENTS RECOGNISED IN REVENUE FOR THE SIX MONTHS ENDED 31 AUGUST 2025 REVENUE BY REGION (%) REVENUE BY COLLECTION (%) BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 12

  13. Slide 13: Average Selling Price Analysis

    AVERAGE SELLING PRICE ANALYSIS FOR THE SIX MONTHS ENDED 31 AUGUST 2025 BALLITO HILLS GREENBAY BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 13

  14. Slide 14: Financial Performance: Revenue from Balwin Annuity

    FINANCIAL PERFORMANCE FOR THE SIX MONTHS ENDED 31 AUGUST 2025 Revenue from Balwin Annuity Revenue increased by 55% to R101.5 million (August 2024: R65.87 million) Annuity revenue remained constant at 8.3% of group revenue (August 2024: 7.7%) BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS

  15. Slide 15: Financial Performance: Gross Profit

    FINANCIAL PERFORMANCE FOR THE SIX MONTHS ENDED 31 AUGUST 2025 Gross profit Gross profit margin marginally decreased to 29% (August 2024: 32%) Gross profit margin on sale of apartments remained stable at 23% (August 2024: 23%) Gross profit margin growth remains a key focus Medium-term objective to re

  16. Slide 16: Financial Performance: Operating Expenses

    FINANCIAL PERFORMANCE FOR THE SIX MONTHS ENDED 31 AUGUST 2025 Operating expenses Continued drive of cost containment evidenced in reduction of fixed costs from prior period. Variable expenditure is linked to sales activity and was managed to reflect slightly below the sales increase of 44%. Allowanc

  17. Slide 17: Financial Performance: Earnings and Dividend

    FINANCIAL PERFORMANCE FOR THE SIX MONTHS ENDED 31 AUGUST 2025 Earnings Profit after tax increased by 33% to R102.4 million 28% increase in earnings per share to 20.91 cents 29% increase in headline earnings per share to 20.91 cents Dividend The board has resolved not to declare a dividend for the 20

  18. Slide 18: Interim Consolidated Statement of Financial Position

    INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST 2025 BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 18

  19. Slide 19: Financial Position: Non-current Assets

    FINANCIAL POSITION AS AT 31 AUGUST 2025 Non-current assets Drivers of investment through annuity businesses, namely: – Solar assets – Fibre infrastructure – Investment property Developments under construction Includes the cost of land, infrastructure, development rights and construction costs Increa

  20. Slide 20: Financial Position: Developments under Construction

    FINANCIAL POSITION AS AT 31 AUGUST 2025 Developments under construction (continued) BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 20

  21. Slide 21: Financial Position: Developments under Construction

    FINANCIAL POSITION AS AT 31 AUGUST 2025 Developments under construction (continued) No additional land registered in the period, in line with the strategic focus of developing the existing pipeline. The group remains alert to new opportunities in the Western Cape, where sustained demand for the Balw

  22. Slide 22: Financial Position: Cash and Cash Equivalents

    FINANCIAL POSITION AS AT 31 AUGUST 2025 Cash and cash equivalents Cash position at period end of R303.4 million (February 2025: R254.8 million) Cash on hand exceeds funding covenants and board thresholds Continued active oversight of Treasury Committee Active management of rate of sales to construct

  23. Slide 23: Financial Position: Funding

    FINANCIAL POSITION AS AT 31AUGUST 2025 Funding Development loans and facilities amounted to R3.2 billion (February 2025: R3.3 billion) Loan-to-value reduced to 39.3% (2025: 40.4%) Loan-to-value ratio is materially measured at cost – 95% of asset base measured at cost Improvement in profile of debt w

  24. Slide 24: Interim Consolidated Statement of Cash Flows

    INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 31 AUGUST 2025 BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 24

  25. Slide 25: Annuities

    3 ANNUITIES Raaziq Ismail Head of Legal and Annuity THE REID BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 25

  26. Slide 26: Annuities Overview

    ANNUITIES OVERVIEW R105.2 million* R34.2 million* R1.09 billion Revenue Operating profit Assets under management as at year end BALLITO HILLS 1762 10 888 R58.1 million Tons of carbon dioxide emissions Active clients on Balwin Fibre network Savings to our clients through prevented through Balwin Ener

  27. Slide 27: Annuities Consolidated Statement of Profit and Loss

    CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 AUGUST 2025 31 August 25 31 August 24 Customer Green Other Unaudited Unaudited Unaudited (R’000) * ICT1 Real Esate2 Rentals3 Services4 Living5 Businesses6 R’000 R’000 Revenue 48 278 19 698 12 802 10 496 8

  28. Slide 28: Balwin ICT Statement of Profit and Loss

    BALWIN INFORMATION AND COMMUNICATION TECHNOLOGY (PTY) LTD – STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 AUGUST 2025 OPERATIONAL UPDATE 31 August 25 31 August 24 Unaudited Unaudited Homes passed 15 631 Financial update R’000 R’000 Active clients 10 888 Revenue 48

  29. Slide 29: Balwin Real Estate Statement of Profit and Loss

    BALWIN REAL ESTATE– STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 AUGUST 2025 31 August 25 31 August 24 OPERATIONAL UPDATE Unaudited Unaudited Financial update R’000 R’000 Head Office and Thaba lifestyle centre -100% tenanted Revenue 19 698 13 036 Head Office and

  30. Slide 30: Balwin Rentals Statement of Profit and Loss

    BALWIN RENTALS (PTY) LTD – STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 AUGUST 2025 31 August 25 31 August 24 OPERATIONAL UPDATE Unaudited Unaudited Financial update R’000 R’000 Achieved an average occupancy of 97.4% for the period with a low of 95.8% and a high

  31. Slide 31: Balwin Customer Services Statement of Profit and Loss

    BALWIN CUSTOMER SERVICES – STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 AUGUST 2025 OPERATIONAL UPDATE 31 August 25 31 August 24 890 bonds secured for the period 1 March 2025 – Unaudited Unaudited 31 August 2025 Financial update R’000 R’000 Green bond concession

  32. Slide 32: Balwin Green Living Statement of Profit and Loss

    BALWIN GREEN LIVING (PTY) LTD – STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 AUGUST 2025 31 August 25 31 August 24 OPERATIONAL UPDATE Unaudited Unaudited Financial update R’000 R’000 Operating on 13 sites Revenue 8 276 6 419 A 10% discount on electricity tariff t

  33. Slide 33: Other Annuity Businesses Statement of Profit and Loss

    OTHER ANNUITY BUSINESSES STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 AUGUST 2025 31 August 25 31 August 24 OPERATIONAL UPDATE Unaudited Unaudited Financial update R’000 R’000 Other businesses comprises of Revenue 5 665 713 Signage and towers Cost of sales (1 574

  34. Slide 34: Sustainability

    4 SUSTAINABILITY Steve Brookes Chief Executive Officer GREENCREEK BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 34

  35. Slide 35: Sustainable Business Practices

    SUSTAINABLE BUSINESS PRACTICES Continued commitment to reducing our environmental impact through innovation in design and building techniques The first South African company to have both a science-based target and Net Zero commitment approved by the International Science Based Target Initiative All

  36. Slide 36: Looking Forward

    5 LOOKING FORWARD Steve Brookes Chief Executive Officer THE BLYDE MINT RESORT BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 36

  37. Slide 37: The Future

    THE FUTURE Maintain focus on core operations by leveraging existing land bank and existing pipeline of developments Opportunities for growth in strategic areas on terms that do not put liquidity and debt pressure on the group Healthy position of forward sold apartments of 1028 Key focus on cost redu

  38. Slide 38: Annexures

    6 ANNEXURES THABA-ECO VILLAGE BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 38

  39. Slide 39: Operating Model

    OPERATING MODEL Development of large-scale residential estates in key target nodes Targeting an average profit margin of low to mid 30% range over the lifecycle of each project Drive efficiencies through turnkey approach to development Maintaining costs and cash preservation MUNYAKA MUNYAKA Developm

  40. Slide 40: Turnkey Development Model

    TURNKEY DEVELOPMENT MODEL THE HUNTSMAN MUNYAKA DE AAN-ZICHT BALWIN PROPERTIES RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 31 AUGUST 2025 40

  41. Slide 41: Corporate Overview

    CORPORATE OVERVIEW Specialist, national residential property developer of large- scale sectional title estates Focus on high quality, environmentally efficient, affordable apartments with an innovative and all inclusive lifestyle offering for clients Currently developing approximately 2 000 apartmen

  42. Slide 42: Governance Process Development Opportunities

    GOVERNANCE PROCESS DEVELOPMENT OPPORTUNITIES Development opportunities identified Internal due diligence process followed: › Costs › Infrastructure › Zoning › Independent review of nodal residential demand Presented for approval to: MOOIKLOOF ECO-ESTATE › Executive Committee › Transactions Committee

  43. Slide 43: Investment Case

    INVESTMENT CASE Well positioned to address the undersupply of quality, affordable housing in the low to middle market income market Long-term development pipeline in key strategic locations Proven and flexible business model for large-scale developments Strong management with approximately 30-years

  44. Slide 44: Development Brands

    DEVELOPMENT BRANDS Core development model One-, two-, and three-bedroom four storey walk up apartments Prices range from R719 910 to R2 899 900 Developments located in high density, high growth nodes across key metropolitan areas Benefits from economies of scale, in-house construction THE BLYDE and

  45. Slide 45: Development Brands

    DEVELOPMENT BRANDS Model targets a slightly lower income consumer than the Classic Collection Prices range from R599 900 to R1 519 900 Developed on a phase-by-phase approach Distinctive architecture and high-quality standards Residents have access to traditional lifestyle offerings associated with B

  46. Slide 46: Development Brands

    DEVELOPMENT BRANDS Three elite model developments, The Polofields and Munyaka Lifestyle Centre apartments (Johannesburg, Waterfall) and Izinga Eco Estate (KwaZulu-Natal, Umhlanga) Apartments built to higher specifications with luxurious finishes Prices range from R899 900 to R10 999 900 Developments

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