17 slides from Dimand Societe Anonyme Development & Exploitation Of Real Estate & Constructions Services &'s earnings presentation, April 2024
Slide 1: FY2023 Financial Highlights
c e opine ny Athens, geaaes 2024.
Slide 2: Vision
Vision PIRAEUS TOWER BEFORE PIRAEUS TOWER AFTER • To contribute in the upgrade of the urban environment. • Respecting the principles of sustainability, innovation and inclusive growth. MINION BEFORE MINION AFTER • Achieving satisfactory rewards and returns for the Company, its personnel and sharehol
Slide 3: Macros & Real Estate Trends
Macros & Real Estate Trends Global macros Local macros Inflation contained. Construction cost still increasing (at a lower rate). Interest rates falling (but higher for longer). Contractor capacity needs expansion. Supply chain normalizing (despite continuing RRF funding mitigates interest rate incr
Slide 4: FY 2023 Corporate Facts
FY 2023 Corporate Facts • IPO effect starts to materialize • Return to profitability (post one-off FY 2022 effect) • Capital structure remains healthy • Commitment to pipeline evolution • New projects & investments added | page 4
Slide 5: Capital Structure
Capital Structure in € ‘000s 2020 2021 2022 2023 140,049 133,633 125,528122,429 Assets 70,012 116,444 182,424 259,031 Debt 30,071 59,107 45,768 81,472 Other liabilities 7,510 19,595 14,227 43,925 Equity 32,430 37,742 122,429 133,633 39,041 37,742 33,771 32,430 NAV 33,771 39,041 125,528 140,049 Net D
Slide 6: Operating Performance
Operating Performance in € ‘000s 2020 2021 2022 2023 EBITDA 16,143 10,115 7,105 19,263 Profit /(loss) before tax 13,634 5,580 (5,146) 17,019 Net profit / (loss) 12,167 5,308 (7,805) 13,205 Adjusted EBITDA 16,143 10,115 7,6751 19,8483 Adjusted profit before tax 16,143 10,115 3,0572 17,6043 Adjusted N
Slide 7: Expansion of the investment pipeline
Expansion of the investment pipeline in € ‘000s 2020 2021 2022 2023 Completion GDV (AUM) 332,836 524,274 915,151 1,194,863 Completion GDV (Dimand share) 192,383 318,343 723,040 955,710 % growth 27.5% 65.5% 127.1% 32.2% Commentary: 3 new projects added in FY 2023 with a completion GDV of c. € 273m -
Slide 8: Key Projects Status Update
Key Projects Status Update Piraeus amounts in €m Insignio Minion Hub 26 IQ Athens Aghialos FIX 3V Tower Target exit 2024 2024 2024 2024 2026 2026 2027 2027 % pre-let 1 100% 70% 100% 75% 30% - - - % pre-sold 100% - - 100% - - - - GDV 69.0 130.5 70.0 56.1 189.0 152.3 147.7 130.9 Exit value 74.4 - - re
Slide 9: Project Skyline
Project Skyline SPA signed on Feb-2023. Closing to occur by Sep-2024. Investor consortium (Dimand 55% - Premia 25% - EBRD1 20%) to acquire 65% of Skyline – 35% stays with Alpha Bank. Asset management initiated as per the SPA provisions. Pre-closing financial performance will be to the benefit of the
Slide 10: Creating the Cities We Want to Live In
CREATING THE CITIES WE WANT TO LIVE IN
Slide 11: Slide 11
Slide 12: Appendix
Appendix
Slide 13: Current Development Portfolio
Diversified current development portfolio of 20 projects 20 projects under development as at 31.12.2023 Current Development Portfolio A Ready to Deliver B Planning & Under Construction C Projects Development 1 2 13% 3% 4 4% Type €1,195 mn 42% 3 5 12 6 Detailed Analysis in Appendix A GDV projects pro
Slide 14: Summary Valuation
Summary Valuation (amounts in €m, unless stated otherwise) Working Remaining Gross Estimated Dimand ownership Estimated progress Fair Value Investment Sector GBA (sqm) construction Development annual (%) completion date (WIP) rate (100%) cost (1) Value (100%) rent (%) Insignio Office 24,941 100.0% 2
Slide 15: Consolidated statement of financial position – IFRS
Consolidated statement of financial position – IFRS Amounts in € Dec-2022 Dec-2023 Assets Non-current assets Investment property 96,999,127 117,103,629 Property and equipment 656,838 1,186,397 Intangible assets 9,009 8,305 Investments in Joint Ventures accounted for using the equity 37,302,366 49,30
Slide 16: Consolidated income statement – IFRS
Consolidated income statement – IFRS Amounts in € FY 2022 FY 2023 Revenue 10,621,314 9,385,708 10,621,314 9,385,708 Net fair value gains / (losses) on investment 8,221,098 19,338,963 property Gain from disposal of investment properties 123,000 65,000 Property taxes-levies (611,785) (1,043,706) Perso
Slide 17: Disclaimer
Disclaimer • By viewing or receiving this presentation, you are agreeing to be bound by the following limitations. • The information contained in this presentation has been prepared by Dimand S.A. (the “Company”) and has not been independently verified and will not be updated. No representation, war