Glenveagh Properties Plc · EURONEXT:GVR
Glenveagh Properties — H1 2025 Earnings Presentation
22 slides from Glenveagh Properties's earnings presentation, Sep 25, 2025
Slide 1: Interim Results 2025
Glenveagh Properties PLC Interim Results 2025 This File is Classified: Confidential
Slide 2: Today's agenda
Results and performance highlights 03 Financial update and outlook 12 Today’s agenda Conclusion 19 Glenveagh Properties plc | Interim Results 2025 | September 2025
Slide 3: Results and performance highlights
Results and performance highlights This File is Classified: Confidential
Slide 4: H1 2025 highlights
H1 2025 highlights HIGHLIGHTS Group revenue Homebuilding Partnerships revenue €342m 566 €123m FINANCIALS increase of 124% y-o-y units delivered, up 143% in Partnerships up 93% y-o-y revenue Group gross Land sales Prudent capital profit use CONCLUSION €67m €60m €230m increase of 141% y-o-y at closed
Slide 5: Our differentiated investment case
Our differentiated investment case HIGHLIGHTS Uniquely positioned to deliver on compelling market opportunity FINANCIALS Compelling market Sector-leading Delivering strong opportunity platform outcomes • Structural undersupply • Highly attractive own-door • Focused approach to driving customer deman
Slide 6: Market dynamics to sustain positive housing trajectory
Market dynamics to sustain positive housing trajectory HIGHLIGHTS Labour market, rising population and mortgage access robust Income growing alongside Population projected to increase Mortgage lending activity employment beyond current record highs maintaining strong pace2 3.2 1200 Population Approv
Slide 7: Government policy prioritises increased housing supply
Government policy prioritises increased housing supply Concrete targets provide sustained clarity HIGHLIGHTS National Development Plan 2025–2030 Scale of funding • €275.4 billion total planned investment out to 2035 • €10 billion near-term package for energy, water, and transport FINANCIALS infrastr
Slide 8: Homebuilding
Homebuilding HIGHLIGHTS Continued benefits from differentiated model 48 €46.8m 100% 43 H1 completions (as % of FY forecast) 566 H1 completions (as % of FY) 38 33 H1 gross profit units completed, +93% y-o-y 28 €20.5m €20.1m 23 50% FINANCIALS €15.4m 18 €218m €9.5m 13 8 revenue, +115% y-o-y 3 22% 19% 2
Slide 9: Partnerships
Partnerships HIGHLIGHTS Contributing material revenues and profit in first half Partnership sites in progress Site Total site units €123m €20m 16.2% FINANCIALS Revenue Gross profit Gross margin (H1 2024: €51m) (H1 2024: €7.6m) (H1 2024: 15.2%) 01 Ballymastone 1,194 02 Oscar Traynor Road 852 03 Moore
Slide 10: High-quality, well located landbank
High-quality, well located landbank HIGHLIGHTS Providing visibility for medium-term objectives 77% 23% • The Group’s current landbank continues to provide strong visibility of over 2,600 - 3,600 Homebuilding Partnerships equivalent units per annum through to 2030, FINANCIALS sufficiently underpinnin
Slide 11: Progressing our innovation agenda to futureproof our business model
Progressing our innovation agenda to futureproof our business model HIGHLIGHTS Transitioning from traditional materials to innovative alternatives Phase I Phase II Phase III Transition Transition Transition FINANCIALS Innovative wall system Innovative roof cladding Innovative floor cassette and pile
Slide 12: Financial update and outlook
Financial update and outlook This File is Classified: Confidential
Slide 13: Financial update Performance
Financial update Performance HIGHLIGHTS Income statement H1 2025 H1 2024 highlights €’m €’m Revenue 341.6 152.2 Cost of sales (274.8) (124.5) +124% Gross Profit 66.8 27.7 FINANCIALS revenue growth Gross margin 19.5% 18.2% Central Costs (23.0) (17.7) +130bps EBITDA 43.8 10.0 gross margin expansion De
Slide 14: Financial update Financial position
Financial update Financial HIGHLIGHTS Balance sheet H1 2025 FY 2024 position €’m €’m Property plant and equipment 62.5 62.4 Other assets 15.0 14.3 €536.0m1 Non-current Assets 77.5 76.7 land balance (FY 2024: FINANCIALS Inventory 911.5 864.4 €556.2m) Trade and other receivables 176.5 173.2 Cash and c
Slide 15: Evolving landbank – H1 2025 to December 2026
Evolving landbank – H1 2025 to December 2026 HIGHLIGHTS bridge • In line with our strategic focus on growth, we made significant investments in our land portfolio to €536m* support future development ~ €70m- €80m ~ €405- • The year-end balance for land €460m investment was €536.0 million (FY ~ €110m
Slide 16: Financial update: cash flow bridge
Financial update HIGHLIGHTS Cash flow bridge • Net debt of €229.9 million at H1 2025 €35m €2m €230m was lower than H1 2024 (€244.1 million) despite higher production €9m levels, reflecting prudent cash €179m €5m management and disciplined capital FINANCIALS deployment • This remains a prudently mana
Slide 17: Capital allocation priorities
Capital allocation priorities HIGHLIGHTS Disciplined and balanced capital allocation approach, with focus on value creation and shareholder returns 1 2 3 4 Land WIP Supply chain Return excess cash FINANCIALS • The Group continues to • Homebuilding unit • Off-site premises • Target average net debt r
Slide 18: Confidence in FY25 delivery and outlook
Confidence in FY25 delivery and outlook HIGHLIGHTS 01 02 03 Positive long-term EPS of approximately Further projects with the outlook for Irish 19.5 cent for FY25 public sector anticipated residential housing underpinned by healthy for our Partnerships segment, contributing to FINANCIALS land portfo
Slide 19: Conclusion
Conclusion This File is Classified: Confidential
Slide 20: Conclusion
Conclusion HIGHLIGHTS Compelling market Advantageous Performance FINANCIALS opportunity position excellence • Strong economy and structural • Healthy land portfolio across • Positive outlook for continued undersupply driving customer strategic locations providing revenue and profit growth demand for
Slide 21: IR contacts and calendar
IR contacts and calendar HIGHLIGHTS IR contacts Conor Murtagh CFO FINANCIALS investors@glenveagh.ie IR calendar CONCLUSION FY25 Trading update January 2026 FY 25 Results March 2026 Glenveagh Properties plc | Interim Results 2025 | September 2025 21
Slide 22: General disclaimer
General disclaimer HIGHLIGHTS This announcement does not constitute or form any part of an invitation to underwrite, subscribe for or otherwise acquire or dispose of any shares of Glenveagh Properties plc ("Glenveagh" or "the Group"). This announcement contains statements that are, or may be deemed