Poznanska Korporacja Budowlana Pekabex Sa · GPW:PBX
Poznanska Korporacja Budowlana Pekabex Sa — Pekabex — Q3 2020 Earnings Presentation
37 slides from Poznanska Korporacja Budowlana Pekabex Sa's earnings presentation, November 2020
Slide 1: Investor presentation 3Q 2020
Investor presentation 3Q 2020 The art of prefabrication www.pekabex.pl 1
Slide 2: Mission and vision
SAFE DEVELOPMENT MISSION We believe that prefabrication is the technology of the future in construction VISION We want to be the top 5 in Europe to create new trends and build ecological, effective and beautiful buildings 2
Slide 3: Key numbers in 3Q20
Key numbers in 3Q20 Solid fundamentals create basis for dynamic development PLN 961 m PLN 685 m 144.077 m3 PLN 44 m Value of backlog as Revenues prefabricated Net income of 30.09.2020* elements produced *Concerns prefabrication contracts, construction services, pilot development project on their own
Slide 4: Prefabrication production
Prefabrication production Volume of production in 2003-2020* (000 m3) Stable growth of production 200 182 175 Increased production in prefabrication segment results mainly from the 150 140 143 volume of realized contracts in the first three quarters of 2020; production amounted to 144.077 m3 while i
Slide 5: Strong, well-diversified backlog
Backlog Backlog (thous. PLN) Strong, well-diversified backlog contracts to be realized in following year 124 237 (13%) Pekabex Group systematically builds strong and well-diversified backlog, which will fill the production in following years. It contains aggregated value of signed contracts, which a
Slide 6: Profit and Loss Account
Profit and Loss Account Revenues (thous. PLN) Record revenue and stable margins 684 723 646 056 First three quarters of 2020 was exceptional record period in 20,5% 17,8% terms of revenues and results. 528 743 Good sales results and profitability achieved in first three quarters of 16,7% 2020 compare
Slide 7: Profit and Loss Account
Profit and Loss Account 3Q 2020, achieved high record results in the history of Pekabex Group Selected financial items (thous. PLN) 164 199 119 307 121 687 88 409 80 359 67 473 67 241 51 209 53 827 52 407 44 030 39 396 38 101 30 496 26 190 20 496 Y2018 Y2019 3Q 2019 3Q 2020 Gross profit on sales EBI
Slide 8: Strong balance sheet & financial stability
In thous. PLN 30.09.2020 30.09.2019 Change % 31.12.2019 Fixed assets 350 611 299 859 +16,9% 338 184 Strong balance sheet & financial stability Current assets, including: 455 804 323 558 +40,9% 415 709 Stable and safe level of financial leverage Inventories 97 289 54 020 +44,5% 61 986 Assets from con
Slide 9: CAPEX to expand growth potential
CAPEX breakdown 2014 2015 2016 2017 2018 2019 3Q20 Strong balance sheet & financial stability Land 0 6 137 8 522 0 5 946 76 0 Buildings 3 664 20 487 15 109 1 967 1 252 5 126 135 CAPEX to expand growth potential Machinery and equipment 10 697 6 867 30 205 1 245 1 217 7 750 8 403 Vehicles 1 694 279 90
Slide 10: Pekabex cash flow
Pekabex cash flow (thous. PLN) 200000,0 180000,0 +14 834 -43 265 +54 763 160000,0 +23 246 140000,0 -8 694 -20 170 -9 044 +4 622 -7 066 -1 666 *114 132 120000,0 106 572 100000,0 80000,0 60000,0 40000,0 20000,0 0,0 Cash and cash Profit (loss) before Amortisation and Changes in Income tax paid Other ne
Slide 11: Graphical area (Poland)
Graphical area (POLAND) GDANSK High production capacity The Group is gradually increasing its production POZNAN capacity through organic development and acquisitions. Currently, the production capacity is MSZCZONOW over 230 thous. m3 per year. As at the balance sheet date, the Group has 5 production
Slide 12: Graphical area (Europe) and revenue structure
15% Graphical area (EUROPE) Well diversified revenue sources 77% 4% Prefabrication contracts and growing importance of general construction are leading segments and generates the largest part of Group’s revenues. In connection with establishing cooperation with largest logistic 4% companies in previ
Slide 13: Selected financial data by segments
From 3Q19 Development – new segment profil Others – segment profil (thous. PLN) and New segment (thous. PLN) and margin margin 1 639 – Development 5,8% 31,5% 37,5% 824 1 141 Selected financial data by segments 23,4% 674 -68,7% Stable margins in most important segments 3Q 2018 3Q 2019 3Q 2020 -625 3Q
Slide 14: Selected financial data by segments
Increase in the segment's operating result (thous. PLN) Selected financial data by segments Stable margins in most important segments 90000,0 +6 715 80000,0 -568 -1 449 +965 76 809 +16 361 70000,0 In 3Q 2020 highest operating results were achieved in prefabrication contracts and construction service
Slide 15: Development projects 3Q 2020
Development projects 3Q 2020 15
Slide 16: New development pilot project Osiedlowa
New development pilot project_Osiedlowa 43 Jozefoslaw | Warsaw On October 29, 2019, the company Pekabex Development purchased for PLN 2,370 thous. plot in Jozefoslaw in connection with the planned implementation of another pilot project, consisting in the construction of 12 terraced houses. On Decem
Slide 17: Development project Jasielska II
Development project Jasielska_II | Poznan The contract includes 4 residential buildings (110 apertments). For day of the publication of this presentation over 95% of appartments are already sold (a developer agreement has been signed or appartments reserved). On August 3, 2020 the investment obtaine
Slide 18: Development project Hafciarska
Development project Hafciarska | Warsaw On June 3, 2020, the Group acquired a plot of land for another development investment in Warsaw. Design works and preparation of the investment for sale are currently in progress. The Group estimates that as part of the investment, 40 independent apartments wi
Slide 19: Development project Mechelinki
Development project Mechelinki | Gdynia On June 29, 2020, Pekabex S.A. and Pekabex Development sp. z o.o. concluded with Origin Investments sp. z o.o. and Origin Gdynia 1 sp. z o.o. ("Origin") an investment agreement for the joint implementation of the investment in Mechelinki consisting in the cons
Slide 20: Selected financial data
Selected financial data PBX share price (PLN) WIG_Construction share price Stock market and ratios 1,8 +71% PEKABEX 1,6 YTD Share price (PLN) 15.6 1,4 Shares out 24 826 512 1,2 P/E 7.20 1 P/BV 1.12 0,8 mCap (PLN) 387.29 0,6 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Sep-20 Oct-20
Slide 21: Pekabex is a dividend company
Pekabex is a dividend company Dividend (in PLN ) 7 620 3 899 3 933 0,31 2 663 2 179 1 937 0,16 0,16 0,09 0,11 0,08 15,1% 14,9% 12,2% 12,9% 9,4% 7,8% 2014 2015 2016 2017 2018 2019 dividend value total dividend per share % of net profit The dividend from the profit for 2019 was paid on July 31, 2020 2
Slide 22: Attachment
ATTACHMENT The art of prefabrication www.pekabex.pl 22
Slide 23: Key contracts: University Hospital Odense
Key contracts CMB CARPI, ITINERA – University Hospital | Denmark – Odense › In August 2019 Pekabex signed a construction contract regarding designing, production, transport and assembly of precast structures for the hospital in Odense (DP03 building). › In mid-October 2019 Pekabex initiate the assem
Slide 24: Key contracts: PFR Nieruchomosci Torun
Key contracts PFR Nieruchomosci | Torun › Construction contains residential complex of 8 buildings – area 15 665 m2. › Prefabrication contains c.a. 3 600 elements (triple-layered walls, massive walls, balconies, filigree slabs). › The contract is realized by general contracting department. 24
Slide 25: Key contracts: Torpagatan Sweden
Key contracts Torpagatan | Sweden Construction contains: › A residential buildings – total area 15 547 m2, › Total number of delivered elements – 1 218 elements. 25
Slide 26: Key contracts: Citadellskajen Vastra
Key contracts Citadellskajen Vastra | Sweden › Construction contains residential complex – area 11 000 m2. › Prefabrication contains 2 732 elements (3-layers walls, 2- layers walls, prestressed massive slabs, balconies) which is 6048 m3 of concrete. 26
Slide 27: Key contracts: Olimp Labs Debica
Key contracts Olimp Labs | Debica › The conctract includes the construction of Olimp Labs research and development center in Dębica. › Prefabrication contains 1 425 elements (columns, slabs, beams, foundations, TT plates). 27
Slide 28: Key contracts: Malopole Warsaw
Key contracts Małopole | Warsaw Construction contains: › Prefabrication contains 1 877 elements (columns, slabs, roof beams, TT plates, HC slabes, slab walls). › Total area realized by Pekabex 20 000 m2. › The contract was realized by general contracting department. 28
Slide 29: Key contracts: Parking hall in Naramowice
Key contracts Parking hall in Naramowice | Poznan › Construction contains parking hall in Naramowice district, Poznan. › Prefabrication contains 611 elements (columns, HC slabs, TT plates, slab walls, beams). › The contract was realized by general contracting department. › On November 16, 2020, the
Slide 30: Key contracts: MLP Pruszkow
Key contracts MLP | Pruszkow › Construction contains warehouse with welfare and office facility. › Total area c.a. 17 200 m2. › Prefabrication contains 612 elements (columns, HC slabs, TT plates, slab walls, roof beams, foundations). › The contract is realized by general contracting department. 30
Slide 31: Key contracts: Panattoni halls II
Key contracts Panattoni halls II | Bielsko-Biala › Construction contains warehouse – total area c.a. 42 000 m2 and office space 5 000 m2. › Prefabrication contains 1 702 elements (docks, columns, girders, roof beams). › The contract is realized by general contracting department. 31
Slide 32: Key contracts: Animal shelter Poznan
Key contracts Animal shelter | Poznan › Construction contains 4 buildings: 5.936 m2 and other necessary technical infrastructure (total area 52 000 m2). › 250 foundations were delivered as prefabricated elements. › The contract is realized by general contracting department 32
Slide 33: Key contracts: Prologis halls DC4A
Key contracts Prologis halls DC4A | Ruda Slaska › Construction contains warehouse – total area c.a. 10 400 m2 (halls: 10 400 m2, office building 600 m2). › Prefabrication contains 423 elements (docks, columns, girders, HC slabs, roof beams). › The contract is realized by general contracting departme
Slide 34: New key projects
*Contract Contract Date Contractor Description value (%) currency New key projects Implenia The contract covers production and August 19, 2020 Construction GmbH delivery tubings for the investment in 6% EUR NL Tunnelbau Berlin. Subject of the contract: execution of construction works for the task na
Slide 35: Key projects
*Contract Contract Date Contractor Description value (%) currency Key projects The subject of the contract is the demolition and construction of an office, garage and social building "C" together with land September 3, Operator Gazociągów Przesyłowych GAZ – development and accompanying infrastructur
Slide 36: Key projects
*Contract Contract Date Contractor Description value (%) currency Key projects The subject of the contract is the design, production, delivery September 18, Skanska Sverige AB and assembly of prefabricated elements at the investment 7% PLN 2020 located in Tolvskillingsgatan Hogsbo in Sweden The subj
Slide 37: Contact: Beata Żaczek, Vice-president/CFO
Contact: Beata Żaczek Vice-president /CFO beata.zaczek@pekabex.pl This presentation was prepared exclusively for the benefit and internal use of the addressees and does not carry any right of publication or disclosure. The information contained in this presentation is private and confidential and co