15 slides from Dimand Societe Anonyme Development & Exploitation Of Real Estate & Constructions Services &'s earnings presentation, May 2023
Slide 1: FY 2022 Financial Highlights
DIMAND Real Estate Development S.A. FY 2022 Financial Highlights Athens | May 2023
Slide 2: Interpreting the Market – Macros & Trends
Interpreting the Market – Macros & Trends • Macroeconomic factors – Inflationary pressure • Increase in development cost – Rising interest rates • Increase in required yields – Supply chain disruption • Increase in construction time • Social trends – 15-minute city • Urban regeneration / mixed-use p
Slide 3: FY 2022 Corporate Facts
FY 2022 Corporate Facts • IPO in July 2022 • Strengthening of the capital structure • Increase in operating profitability • Expansion of the investment pipeline • Successful implementation of exit strategy • New projects secured | Page 3
Slide 4: IPO Details
IPO Details • Issue of 35% new shares • € 98m capital raised • € 280m initial market capitalization at 15.00 €/share • 37,6% initial free-float | Page 4
Slide 5: Strengthening of the Capital Structure
Strengthening of the Capital Structure in € ‘000s 2020 2021 2022 Assets 70,012 116,444 182,424 125,528 122,429 Debt 30,071 59,107 45,768 Other liabilities 7,510 19,595 14,227 Equity 32.430 37.742 122.429 NAV 33,771 39,041 125,528 33,771 32,430 39,041 37,742 Net Debt / Total Assets 33.23% 34.10% 19.6
Slide 6: Operating Performance
Operating Performance in € ‘000s 2020 2021 2022 Operating profit 3,236 6,031 7,054 EBITDA 16,143 10,115 7,105 Net profit / (loss) 12,167 5,308 (7,805) Adjusted EBITDA 16,143 10,115 7,675 1 Adjusted Net profit 12,167 5,308 400 2 Commentary 1. Adjusted for non-recurring payment of stamp duty € 571k 2.
Slide 7: Expansion of the investment pipeline
Expansion of the investment pipeline in € ‘000s 2020 2021 2022 Completion GDV (AUM) 332,836 524,274 915,151 Completion GDV (Dimand share) 192,383 318,343 723,040 % growth 27.5% 65.5% 127.1% Commentary 6 new projects added in FY 2022 with a completion GDV of € 370m - Insignio- new PwC HQ, Maroussi -
Slide 8: Successful implementation of exit strategy
Successful implementation of exit strategy Omonoia 1 in € ‘000s Maroussi Campus in € ’000s Exit GDV 100% 26,072 Exit GDV 100% 42,241 Exit proceeds 35.75% 4,920 Exit proceeds 65% 9,989 Invested capital 1,768 Invested capital 65% 7,589 Profit 3,152 Profit 2,400 MoIC 4.5 yrs 2.78x MoIC 2.0 yrs 1.24x IR
Slide 9: New Projects Secured
New Projects Secured Athinaiki Chartopoiia Industrial Properties 1 • Iera Odos, Elaionas, Athens 2 – 49,340 sqm plot with premises • Megalo Pefko, Attica 3 – 73,132 sqm plot with premises • Nea Peramos, Kavala 3 – 70,080 sqm plot with premises • Nea Sevastia, Drama 3 – 933,120 sqm plot with premises
Slide 10: New Projects Secured
New Projects Secured Korai 1 & Stadiou 34 Project Skyline by Alpha Bank • Skyline HoldCo to own a portfolio of 573 properties (695 IDs) incl. landmark ones • P&E Investments (Dimand 75% - Premia 25%) to acquire 65% of Skyline HoldCo 1 • Portfolio entry value € 438m • Skyline HoldCo senior debt up to
Slide 11: Appendix
Appendix
Slide 12: Current Development Portfolio
Diversified current development portfolio of 23 projects 19 projects under development as at 31.12.2022 Current Development Portfolio A Ready to Deliver B Planning & Under Construction C 3% Projects Development 1 1 18% 4 5 4% €915 mn Type 43% 3 4 12 GDV Detailed Analysis in Appendix A projects proje
Slide 13: Consolidated statement of financial position – IFRS
Consolidated statement of financial position – IFRS Amounts in € Dec-2020 Dec-2021 Dec-2022 Restated Assets Non-current assets Investment property 23.365.000 50.320.000 96.999.127 Property and equipment 686,280 687.332 656.838 Intangible assets 735 7.375 9.009 Investments in Joint Ventures accounted
Slide 14: Consolidated income statement – IFRS
Consolidated income statement – IFRS Amounts in € FY 2020 FY 2021 FY 2022 Restated Revenue 7.825.788 6.863.580 10.621.314 Cost of sales (6.018.893) (4.525.143) (7.902.759) Gross Profit 1.806.895 2.338.437 2.718.555 Other operating income 333.080 360.920 759.782 Net fair value gains on investment pro
Slide 15: 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