Slide 1: H1 2024 Results Presentation
H1 2024 RESULTS PRESENTATION Results Conference Call / Live Webcast 13 September 2024
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by LAMDA Development S.A. (the “Company”) for the purposes of FORWARD LOOKING STATEMENTS the Company’s H1 2024 Results Conference Call/Live Webcast (13.09.2024). This document contains certain forward-looking statements pertaining to the Company and its
Slide 3: Contents
Contents Introduction page 4 Group Results Highlights page 7 Group H1 2024 Financial Information page 23 Appendix page 28 Group Income Statement & NAV page 29 Detailed Analysis: Investment Assets (Malls & Marinas) page 32 Detailed Analysis: Development Assets (The Ellinikon) page 47 Independent Valu
Slide 4: Introduction
O1 Introduction | 4
Slide 5: Group H1 2024 Highlights
Group H1 2024 Highlights 72% increase over 2023 to Group EBITDA before valuations at €46.5m (incl. €4.1m gain from asset sale), driven by a solid performance across Malls, Group Marinas & The Ellinikon New Record High Retail EBITDA before valuations at €44m (+8% vs. 2023) for the 4 Operating Malls M
Slide 6: Key Milestones
Key Milestones The Ellinikon • Total cash proceeds of €776m (from project start and until end-August 2024) • Coastal Front residential units all sold out (315 units) • Strong momentum in reservations for Little Athens: 72% of units placed to the market Sales Progress • Cash proceeds of €137m (from p
Slide 7: Group Results Highlights
O2 Group Results Highlights | 7
Slide 8: H1 2024 Financial Performance at a glance
H1 2024 Financial Performance at a glance Group Consolidated EBITDA EBITDA Net Result NAV € 42 m € 53 m € 19 m loss € 1.4 bn Before Assets After Assets After Taxes & Valuation & Other Valuation & Other €7.94/share Minorities adjustments adjustments Investment Assets Development Assets Malls, Marinas
Slide 9: Group Income Statement Highlights
Group Income Statement Highlights H1 2024 EBITDA • New Record (H1 basis) Retail €44m • Key drivers: net base rents (+7% vs. 2023) and continued solid growth in KPIs (4 Malls) 8% y-o-y • LAMDA MALLS Group EBITDA (before assets valuations): €39m (+5% vs. 2023) Turned to • Revenue: €162m (+125% vs. 202
Slide 10: Group Income Statement Snapshot
Group Income Statement Snapshot H1 2024 vs 2023 EBITDA before Assets Valuation (in €m) EBITDA after Assets Valuation 57% 25% 42,4 71,6 53,4 27,0 H1 2024 H1 2023 H1 2024 H1 2023 Net Result after taxes and minorities H1 2023 one-off items Ellinikon -9 18,4 ● Ellinikon tax reversal: +19.5 ● IRS valuati
Slide 11: Group EBITDA Before Assets Valuation
Group EBITDA Before Assets Valuation H1 2024 vs 2023 (in €m) H1 2024 H1 2023 57% 5% 9% New Record New Record New Record (H1) (H1) (H1) 42,4 39,2 37,4 35,5 35,4 27,0 9,8 9,0 6,9 -1,7 -1,5 -9,5 -8,4 -11,8 MALLS MARINAS OTHER BUSINESS OVERHEADS EBITDA ELLINIKON EBITDA UNITS (before valuations & (before
Slide 12: Group EBITDA After Assets Valuation
Group EBITDA After Assets Valuation H1 2024 vs 2023 (in €m) H1 2024 H1 2023 71,6 57% 25% New Record 53,4 (H1) 44,6 42,4 27,0 6,9 4,1 0,0 EBITDA ASSETS VALUATIONS ASSET DISPOSALS EBITDA (before valuations) LAMDA MALLS GROUP, ELLINIKON INVESTMENT PROPERTY, OTHER ASSETS ASSET DISPOSALS Lower assets val
Slide 13: Group Balance Sheet Snapshot
Group Balance Sheet Snapshot 30.06.2024 vs 31.12.2023 Assets Valuation (Gross Asset Value – GAV) (in €m) NAV1 (Net Asset Value) NAV per 3.238 3.276 share1 (€) 7.94 8.02 120 140 1.398 1.392 Other 58 60 1.485 1.459 Malls 941 925 Ellinikon 1.633 1.678 398 406 30.06.2024 31.12.2023 30.06.2024 31.12.2023
Slide 14: NAV Pillars
NAV Pillars June 2024 Development Investment Other Assets Assets Parent LAMDA MALLS Group2 Company The Other TOTAL Net Debt, Ellinikon1 Ellinikon Operating Properties3 30.06.2024 Minority, Malls Malls Other4 941 NAV (€m) 398 294 647 100 (41) 1,398 5.34 NAV per share5 2.26 1.67 3.68 0.57 (0.24) 7.94
Slide 15: Investment & Development Assets Highlights
Investment & O2.1 Development Assets Highlights | 15
Slide 16: H1 2024 Results Highlights: Investment Assets
H1 2024 Results Highlights Investment Assets (Malls & Marinas) 4 MALLS Another record-breaking performance across all metrics Tenant Sales 6% y-o-y €375m • New Record (H1 basis) Footfall 2% y-o-y 11.6m • Total visitors in H1 2024 (following 17% increase in FY2023) Net Rental Income1 7% y-o-y €47m •
Slide 17: Key Performance Drivers
Key Performance Drivers Operating Malls Inflation Indexed Strong Leasing Activity Strong growth in Net Base Rents (Re-lettings & Renewals) Tenants’ Sales +7% +16% +6% vs. H1 2023 vs. H1 2023 Greek CPI plus 1% – 2% margin annualised effect to base rents New Record (H1) Consistently High Consistently
Slide 18: LAMDA MALLS Group Key Financials
LAMDA MALLS Group Key Financials EBITDA Net Debt / (Cash) (in €m) H1 2024 H1 2023 (in €m) 30.06.2024 31.12.2023 The Malls Athens 16.0 15.1 Golden Hall 11.7 10.6 4 Operating Malls 478 501 Med. Cosmos 10.8 9.6 Ellinikon Malls1 (31) (46) Designer Outlet Athens 5.2 5.2 Malls Property Management2 & HoldC
Slide 19: H1 2024 Results Highlights: Development Assets
H1 2024 Results Highlights Development Assets ELLINIKON • Driven by outperformance of Residential sales: €639m cumulative total until 30.08.2024 Total €776m • Total cash collections in 8M 2024: c€0.3bn driven by Residential proceeds of c€0.2bn Cash Proceeds • Total cash proceeds from project start u
Slide 20: The Ellinikon Cash Inflows Progress
The Ellinikon Cash Inflows Progress €0.78bn cash proceeds to-date (excl. intragroup) Cumulative Cash proceeds Target 30 August 2024 in €bn 31.12.2024 Residential1 0.64 0.7 Land Plot Sales/Leases & Other2 0.14 0.2 Sub-TOTAL 0.78 0.9 Ellinikon Malls (intragroup land plot sale) 0.19 0.2 TOTAL 0.96 1.1
Slide 21: The Ellinikon Infrastructure Works & Buildings CAPEX
The Ellinikon Infrastructure Works & Buildings CAPEX Total CAPEX since project inception: €419m Total CAPEX 314 104 419 Project start until in €m end-2023 H1 2024 Aggregate Total Mainly related to: Infrastructure – demolitions Works 95 44 139 – enabling works – construction works (e.g. Posidonos und
Slide 22: Key Financials Snapshot: The Ellinikon
Key Financials Snapshot Development Assets (The Ellinikon) Assets Valuation (Gross Asset Value, GAV1) (in €m) NAV1 (Net Asset Value) 1.633 1.678 406 39 Properties for own use 398 NAV 40 IRC, Retail, Sports & Leisure 625 622 Assets measured at Fair Value 1.633 1.678 GAV (Savills valuation) Assets boo
Slide 23: Group H1 2024 Financial Information
O3 Group H1 2024 Financial Information | 23
Slide 24: Portfolio of Assets
Portfolio of Assets Key growth drivers: Malls and Ellinikon revaluation in €m 30.06.2024 31.12.2023 Notes The Ellinikon IRC, Retail, Sports & Leisure 622 625 Assets measured at Fair Value (independent valuer: Savills) (Investment Property) Residential (Inventory) 971 1,014 Assets captured at cost, i
Slide 25: Consolidated Balance Sheet Summary
Consolidated Balance Sheet Summary (in €m) 30.06.2024 31.12.2023 Notes: 30.06.2024 Investment Property 2,117 2,068 Ellinikon €622m, Malls & other properties €1,494m (incl. Ellinikon Malls) Fixed & Intangible Assets 103 103 Ellinikon €40m, Flisvos Marina €54m Total Ellinikon (excl. Ellinikon Malls) I
Slide 26: Key Financial Metrics (Group)
Key Financial Metrics (Group) (in €m) 30.06.2024 31.12.2023 Notes & definitions of Alternative Performance Measures (APM) Free Cash 524 464 Restricted Cash (Short & Long Term) 32 24 Total Cash 555 488 Total Debt 1,721 1,705 = Borrowings (incl. Accrued Interest) + Lease Liability + PV Transaction Con
Slide 27: Interest Rate Sensitivity
Interest Rate Sensitivity 74% of Group Borrowings are fixed/hedged Financing Cost Sensitivity in €m The Ellinikon Project 1% in Euribor = ✓ No debt drawdowns from project start and until end-June 2024 c€3m ✓ €0.2bn committed, currently undrawn credit lines (excl. Ellinikon Malls) 30.06.2024 Group Bo
Slide 28: Appendix
O4 Appendix | 28
Slide 29: Group Income Statement & NAV
O4.1 Group Income Statement & NAV | 29
Slide 30: Group Profitability evolution
Group Profitability evolution H1 2024 vs 2023 (in €m) H1 2024 H1 2023 H1 2023 one-off items 71,6 +c€24m 53,4 18,4 7,1 0,2 -0,5 -6,0 -5,1 -9,0 -18,7 -23,0 -20,5 -33,7 -34,9 EBITDA CASH FINANCE NON-CASH FINANCE DEPRECIATION TAXES MINORITIES NET RESULT COSTS COSTS NON-CASH FINANCE COSTS TAXES ● non-cas
Slide 31: Net Asset Value (NAV)
Net Asset Value (NAV) Bridge 31.12.2023 to 30.06.2024 NAV per share1 (€) 8.02 (0.11) 0.01 0.13 7.94 (in €m) 22.9 (18.7) 1.4 Mainly the proceeds3 Ellinikon2 related to the own €19m net loss shares sale 1.392 1.398 NAV Net Result Deferred tax Other items NAV 31.12.2023 (after tax & minorities) (add ba
Slide 32: Detailed Analysis: Investment Assets
Detailed Analysis: O4.2 Investment Assets Malls & Marinas | 32
Slide 33: Operating Malls Key Performance Metrics H1 2024
Operating Malls Key Performance Metrics H1 2024 New record high (H1 basis) Retail EBITDA Tenant Sales GAV 4 Malls €44m €375m €1.1bn Retail EBITDA Tenant Sales Footfall H1 2024 vs. 2023 +8% +6% +2% | 33
Slide 34: Operating Malls
Operating Malls Strong track record of financial performance; poised for solid growth outlook EBITDA (€m) +5.4% +18% 81 Retail EBITDA CAGR 2014-19 9 Designer Outlet1 69 Greek Macro 64 COVID 4 Crisis 21 Med. Cosmos 49 19 19 45 13 37 21 Golden Hall 17 14 19 13 11 13 10 29 31 The Mall Athens 24 27 15 1
Slide 35: Operating Malls H1 2024 vs 2023
Operating Malls H1 2024 vs 2023 Sustained strong growth driven by inflation indexation and solid KPIs Retail Revenue (in €m) Retail EBITDA H1 2024 8% 8% H1 2023 53,2 43,6 49,5 40,5 9% 8% 7% 2% 6% 10% 12% 0% 19,4 16,0 15,1 17,7 13,9 12,9 13,7 12,8 11,7 10,6 10,8 9,6 6,2 6,1 5,2 5,2 THE MALL GOLDEN HA
Slide 36: Operating Malls Net Base Rent
Operating Malls Net Base Rent Inflation indexation & solid leasing activity the key drivers (in €m) New Record (H1) vs. 2023 ● Inflation indexation: 70% 46,2 7% ● Renewals/Re-lettings: 30% 43,1 H1 2024 H1 2023 | 36
Slide 37: Operating Malls Rental Income
Operating Malls Rental Income An attractive lease duration to support long-term rental growth Cumulative Lease Expiry (% of Net Rental Income) Net Rental Income1 WAULT2 €91m 5.1 years 65% 57% H1 2024 Re-lettings/Renewals Signed 53% of contracts expiring in 2024 46% 16% higher annualized rental incom
Slide 38: Operating Malls Tenants' Sales
Operating Malls Tenants’ Sales Reaching new record high levels in €m New Record vs. 2023 (H1) 6% Operating Malls 375 355 7% Designer Outlet 50 47 102 3% Med. Cosmos 99 104 8% Golden Hall 96 119 6% The Mall Athens 112 H1 2024 H1 2023 | 38
Slide 39: LAMDA MALLS Group Assets Valuation
LAMDA MALLS Group Assets Valuation (GAV) vs. 2023 2% Group 1.485 1.459 0% Ellinikon Malls 336 336 2% Operating Malls 1.149 1.123 30.06.2024 31.12.2023 | 39
Slide 40: Malls Valuation (GAV)
Malls Valuation (GAV) Conservative asset valuation limits potential downside risk Prime Malls Yields1 in relevant countries Spain Italy 7,3% +180bps 7,4% +65bps 7,4% +40bps 7,0% 6,8% 6,8% 6,8% 5,5% 5,0% 2019 2023 June-24 1. Yield for LAMDA MALLS represents the weighted average (weighted by GAV) Exit
Slide 41: The Mall Athens
The Mall Athens H1 2024 vs 2023 Performance in €m Occupancy (period average) Tenants’ Sales (% change vs.) H1 2024 H1 2023 H1 2019 H1 2023 H1 2019 99% 98% 98% +6% +11% H1 2024 H1 2023 9% 9% 6% 19,4 17,3 17,7 15,9 16,0 15,1 1,5 1,5 0,1 0,1 0,4 0,3 -0,5 -0,5 -2,2 -2,8 NET BASE RENT TURNOVER RENT PARKI
Slide 42: Golden Hall
Golden Hall H1 2024 vs 2023 Performance in €m Occupancy (period average) Tenants’ Sales (% change vs.) H1 2024 H1 2023 H1 2019 H1 2023 H1 2019 99% 99% 99% +8% +46% H1 2024 H1 2023 7% 8% 10% 13,9 12,9 11,7 11,7 10,9 10,6 1,4 1,2 0,8 0,7 0,1 0,1 -0,4 -0,3 -1,9 -1,9 NET BASE RENT TURNOVER RENT PARKING
Slide 43: Mediterranean Cosmos
Mediterranean Cosmos H1 2024 vs 2023 Performance in €m Occupancy (period average) Tenants’ Sales (% change vs.) H1 2024 H1 2023 H1 2019 H1 2023 H1 2019 99% 100% 100% +3% +26% H1 2024 H1 2023 7% 7% 12% 13,7 12,8 11,6 10,9 10,8 9,6 1,4 1,2 0,4 0,4 0,3 0,3 -0,6 -0,7 -0,4 -0,2 -2,0 -2,2 NET BASE RENT TU
Slide 44: Designer Outlet Athens
Designer Outlet Athens H1 2024 vs 2023 Performance in €m Occupancy (period average) Tenants’ Sales (% change vs.) H1 2024 H1 2023 H1 2023 H1 2019 97% 95% +7% +27% H1 2024 H1 2023 4% 2% 0% 6,2 6,1 5,6 5,4 5,2 5,2 0,6 0,3 0,3 0,1 -0,2 -0,2 -0,8 -0,7 NET BASE RENT TURNOVER RENT OTHER INCOME TOTAL REVEN
Slide 45: Ellinikon Malls
Ellinikon Malls Outstanding commercial leasing progress almost 3 years ahead of opening Agreed/Signed Heads of Terms (% of GLA) GLA (sqm) Target August 2024 End-2024 The Ellinikon Mall 100,0001 63% 70% Riviera Galleria 19,000 69% 80% 1. GLA sqm has been increased (vs. 90k sqm), now reaching up to c3
Slide 46: Marinas
Marinas H1 2024 vs 2023 Key Financial Performance Revenue (in €m) EBITDA1 15,4 13% 13,7 New Record 3,8 4% (H1) 9% 3,7 Agios 9,8 Kosmas 9,0 2,4 6% 2,2 16% 11,6 15% 10,0 7,9 Flisvos 6,9 Other2 -0,1 -0,4 H1 2024 H1 2023 H1 2024 H1 2023 Key performance drivers in H1 2024: 1. EBITDA including IFRS 16 (Fl
Slide 47: Detailed Analysis: Development Assets, The Ellinikon
Detailed Analysis: O4.3 Development Assets The Ellinikon | 47
Slide 48: Income Statement Snapshot
Income Statement Snapshot H1 2024 vs 2023 Achieved operating profit in just 2.5 years since the purchase of HELLINIKON shares (in €m) 125% H1 2024 H1 2023 162 H1 2023 one-off items 51% +c€24m 72 52 5% 35 26 7 0 1 0 -8 -2 -1 -3 -7 -9 -21 -19 -19 -46 -43 REVENUE GROSS PROFIT OPEX EBITDA VALUATIONS - D
Slide 49: Coastal Front Phase I Residential Sales
Phase I Residential Sales €639m cumulative cash proceeds from project start until end-August 2024 in €m Cumulative Cash proceeds Total Cash Total Contract Signed SPAs Deposits1 30 August 2024 Proceeds to-date Value Phase I Riviera Tower 298 2 300 626 Coastal Front The Cove Villas 199 2 201 211 The C
Slide 50: Little Athens 1st sales launch (5 projects)
Little Athens 1st sales launch (5 projects) 72% of the units placed to the market have been reserved by buyers (end-August 2024) Mainstream Posidonos Mainstream Alimos Park Rise (50m) Pavilion Terraces Promenade Heights Atrium Gardens Trinity Gardens Renderings Project Location Architect Bjarke Inge
Slide 51: Ellinikon Residential Land Plot Sales (July 2024)
Ellinikon Residential Land Plot Sales (July 2024) c€106m gross proceeds; selling price c4x the book value • 5 distinct urban blocks of total c51k sqm permitted buildable area (GFA) for Residential • Urban development area A-U3 (close to the Commercial Hub and The Ellinikon Mall) • Land plots ranging
Slide 52: Ellinikon Residential Land Plot Sales (July 2024)
Ellinikon Residential Land Plot Sales (July 2024) The Ellinikon Mall Vouliagmenis Ave Metro Station Mixed-Use Tower Experience Centre Retail A-U 3.12 Park A-U 3.11 Experience Sports Park Complex A-U 3.2 A-U 3.9 A-U 3.10 Building Plot Area Permitted GFA Max Plot Buyer Plot Coefficient (‘000 sqm) (‘00
Slide 53: Development Assets: The Ellinikon Progress of Works Visuals
Development Assets O4.3.1 The Ellinikon Progress of Works Visuals | 53
Slide 54: Riviera Tower
Riviera Tower Concreting Works in progress: 8th level Core Structures & 4th level Slabs Lead Architect Foster + Partners Project Management Hill International Contractor Bouygues – Intrakat | 54
Slide 55: The Cove Residences
The Cove Residences Plots 5-6: Early works construction package close to completion (buildings’ structural frame) (total: 7 buildings) Plots 7-8: Concreting works in progress on the ground and 1st floor slabs (total: 14 buildings) Lead Architects Bobotis / ISV Project Management Hill International C
Slide 56: Park Rise (BIG) & Pavilion Terraces
Park Rise (BIG) & Pavilion Terraces (Mainstream Posidonos) Park Rise (BIG) Pavilion Terraces (Mainstream Posidonos) Excavations almost completed; Early Works Contractor to Demolitions completed in August; Early Works (excavations commence concrete works/foundations etc) to commence in September Lead
Slide 57: Promenade Heights / Atrium Gardens / Trinity Gardens
Promenade Heights / Atrium Gardens / Trinity Gardens (Mainstream Alimos) Promenade Heights Atrium Gardens / Trinity Gardens Excavations completed; Early Works started in August; Excavations completed; Early Works Contractor expected foundation slab concreting ongoing (35% to date) to be mobilized in
Slide 58: The Ellinikon Sports Park
The Ellinikon Sports Park Ongoing concrete casting and finishing works on the 3 main buildings Project Management Hill International Contractor METKA – INTRAKAT | 58
Slide 59: Posidonos Underpass
Posidonos Underpass 83% of excavations & 71% of concrete casting completed to date Completion End 2025 Project Management Hill International Contractor AVAX | 59
Slide 60: Other Infrastructure Works
Other Infrastructure Works Trachones Stream The Ellinikon Mall Underpass 96% of excavations and 86% of concreting 90% of excavations and 32% of concreting Completion End 2024 Project Management Hill International Contractor AVAX | 60
Slide 61: The Ellinikon Mall
The Ellinikon Mall Excavations to be completed in Sep-2024; 96% of total volume has been excavated Lead Architect Aedas Project Management Mace – Jacobs Contractor Early Works AKTOR | 61
Slide 62: Riviera Galleria
Riviera Galleria Excavation works & demolitions commenced in July 2024; 15% of total volume has been excavated Lead Architects Kengo Kuma / BETAPLAN Project Management Hill International Contractor METKA | 62
Slide 63: Independent Valuation Sensitivity Analysis
O4.4 Independent Valuation Sensitivity Analysis | 63
Slide 64: Operating Malls Valuation sensitivity analysis
Operating Malls Valuation sensitivity analysis1 in €m DCF discount rate +/- 0.25% 30.06.2024 (€m) The Mall Athens 8.45% 8 Golden Hall 9.15% 5 2% GAV Med. Cosmos 9.50% 3 of GAV 30.06.2024 Designer Outlet Athens 9.10% 2 The Mall Athens 489 3% Total Malls2 8.91% 18 of NAV Golden Hall 305 Med. Cosmos 21
Slide 65: Ellinikon Malls Valuation sensitivity analysis
Ellinikon Malls Valuation sensitivity analysis1 in €m DCF discount rate -0.25% +0.25% 6% 6% 10.40% - 10.75% 19 (18) of GAV of NAV Exit yield -0.25% +0.25% 7.0% - 7.5% 15 (14) 5% 5% GAV of GAV of NAV 30.06.2024 Ellinikon Malls The Ellinikon Mall 336 +12 months Riviera Galleria Timing impact (13) 4% 4
Slide 66: Ellinikon Investment Property Valuation sensitivity analysis
Ellinikon Investment Property Valuation sensitivity analysis1 in €m DCF discount rate -0.25% +0.25% 5% 7% 6.6% - 11.5% 29 (28) of GAV of NAV Exit yield -0.25% +0.25% 4.25% - 8.50% 22 (20) 4% 5% GAV of GAV of NAV 30.06.2024 IRC, Retail, Sports & Leisure 622 +12 months (Investment Property) Timing imp
Slide 67: Macroeconomic Fundamentals
O4.5 Macroeconomic Fundamentals | 67
Slide 68: Greece is poised for sustained macroeconomic growth
Greece is poised for sustained macroeconomic growth Real GDP growth (% y-o-y) Total Investment (% of GDP) 24% Greece 2,7% 23% 14% 2,5% Euro Area 22% 22% 22% 2,0% 2,0% 22% 1,9% Greece US 21% 22% 21% 21% 1,9% US 10-year avg 1,5% Euro Area (2014-2023) 0,8% 0,4% 17% 2023 2024e 2025e 2023 2024e 2025e Sou
Slide 69: Greek Real Estate
Greek Real Estate Market fundamentals underpin future growth Net FDI in Greek real estate LAMDA MALLS vs High Street Retail in €m 8% Yield Rent €/sqm/month 2.133 LAMDA 7,4% 43 1.975 Kifisia 6,5% 110 1.450 1.128 1.176 Kolonaki 6,4% 105 875 Glyfada 6,0% 150 180 Ermou 5,3% 290 2006-17 2018 2019 2020 20
Slide 70: Athens Residential Real Estate
Athens Residential Real Estate Building activity gradually rebounding following a prolonged under-investment period Average Annual New Dwellings Athens Residential prices ‘000 units index 2007=100 109 Attica South Attica1 +89% 106 New 34,1 apartments (<5yrs) 100 104 103 Old apartments 97 (>5yrs) 89
Slide 71: Residential Real Estate Market
Residential Real Estate Market Solid growth outlook following a prolonged under-investment period Key drivers Selling price increases in the Southern Housing 7% growth • Sizeable stock of household financial saving Athens area, where The Ellinikon is Price Index per annum1 • Increasing real disposab
Slide 72: Thank you
Thank you LAMDA Development S.A. ● 37Α Kifissias Ave. (Golden Hall) ● 151 23 Maroussi ● Greece Tel: +30.210.74 50 600 ● Fax: +30.210.74 50 645 Website : www.lamdadev.com Investor Relations ● E-mail: IR@lamdadev.com