55 slides from Poznanska Korporacja Budowlana Pekabex Sa's earnings presentation, December 2022
Slide 1: Investor Presentation, Poznan, December 2022
= Pekabex Investor Presentation Poznan, December 2022
Slide 2: Mission and Vision
= Pekabex SAFE DEVELOPMENT MISSION We believe that prefabrication is the technology of the future in construction VISION We want to be top 5 in Europe to create new trends and build ecological, effective and beautiful buildings
Slide 3: Key numbers in 3Q22
Key numbers in 3Q22 Solid fundamentals create basis for dynamic development PLN 90 m PLN 1 058 m PLN 1 256 m 205 m3 PLN 49 m Value of backlog as Revenues prefabricated Net profit of 30.09.2022* elements produced** *Concerns prefabrication contracts, construction services, development project on thei
Slide 4: Backlog
Backlog* Backlog (thous. PLN) trong, well-diversified backlog contracts to be realized in following year 8 555 › Pekabex Group systematically builds significant and well-diversified (2%) backlog. It contains aggregated value of signed contracts, which are/will be realized, and revenues will be recor
Slide 5: Prefabrication production
Prefabrication production Volume of production in 2003-3Q 2022* (000 m3) 266 table growth of production 204 › Increased production in prefabrication segment results mainly from the 182 175 volume of realized contracts; in the three quarters of 2022; production amounted to 205.723 m3 while in the pri
Slide 6: Strong Balance Sheet & Financial Stability
Strong Balance Sheet & Financial Stability Steady and continuous growth Volume of production in 2003-2021 (000 m3) 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 20213Q2022 EBITDA (mPLN) 2011 2012 «2013. «-2014.-«« 2015-2016 «2017-2018 = 2019 2020-2021: 3Q.
Slide 7: Record revenues in 3Q 2022
› 3Q 2022 was a record period in terms of achieved revenues. › Revenue from sales in 3Q 2022 amounted to PLN 1.255.535 thous. and were higher by PLN 203.336 thous., i.e. by 16%, than the revenue achieved in 3Q 2021, and at the same time higher by PLN 570.812 thous., i.e. by 45%, as compared to the 3
Slide 8: Operating results by segment
› In 3Q 2022 highest operating results were achieved in prefabrication contracts. This segment represented 96.7% of total operating result. › Prefabrication achieved a segment profitability of 13.9% which is 4.8% higher than in the previous period of Q3 2021.
Slide 9: Well diversified revenue sources
Strong Balance Sheet & Financial Stability Well diversified revenue sources Foreign sales of prefabrication segment (in mPLN) 407 12° 307 181 132 202 160 125 148 » 39 4 @ | | -_— mm 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 ssalesin mPLN Foreign sales does not include production services (Dr
Slide 10: Stable and safe level of financial leverage
Strong Balance Sheet & Financial Stability Inthous. PLN 30.09.2022 31.12.2021 Change % Stable and safe level of financial leverage Fixed assets 458615 452810 41.3% . Current assets, including: 881902 767529 414.9% Fixed assets 452810 458615 a04as Inventories 248 886 176 146 441.3% 338184 Assets from
Slide 11: Working capital
Working capital › Positive working capital is a sort of "financial security" that facilitates liquidity. Inventory › The increase was due to: › increase in business scale, › increasing inventories due to limited availability of raw materials and their price volatility; › Increased prices of material
Slide 12: Net debt
› Net Debt is the difference between financial liabilities (loans, borrowings and other external sources of financing, financial leasing and cash and cash equivalents. › Net Debt to EBITDA ratio remains at a lower level due to: o Working capital increasing demand o Relatively low EBITDA o Lower leve
Slide 13: CAPEX to expand growth potential
Strong Balance Sheet & Financial Stability CAPEX to expand growth potential CAPEX breakdown 2015 2016 2017 2018 2019 2020 2021 3Q2022 Land 5946 76 2953 52 Buildings 3273 7426 1967 7222 5126 44431 9570 6923 CAPEX policy: Machi 4 jachinery ani equipment 9387 11007 4035 5340 9851 52395 11334 9895 = Mai
Slide 14: Cash flow bridge
250000,0 +76 242 -30 275 +20 493 +14 883 -58 079 -12 426 +60 892 149 559 200000,0 114 648 -11 414 -11 455 150000,0 +6 050 -20 000 100000,0 50000,0 0,0
Slide 15: Stock market and ratios
Strong balance sheet & financial stability = Pekabex Stock market and ratios Dividend payout corresponds to the generated profit and the Group’s financial situation and capital needs Dividends Financial year 2015 2016 2017 2018 2019 2020 © 2021* Dividend date 2016 2017 2018 2019 2020 2021 2022 ivide
Slide 16: Safe development
Safe development Learning and Internal processes Client Finance development Healthy organisation Market expansion Technical excellence Growth and diversification of sales - open communication and cooperation between - Foreign expansion in Scandinavia and Western departments in processes and projects
Slide 17: Pekabex values
= Pekabex Respect Honesty : Responsibilty Self-improvement Open communication Pekabex values
Slide 18: Appendix
Pekabex Appendix ®
Slide 19: Selected Development Projects in 3Q 2022
= Pekabex Selected Development Projects in 3Q 2022
Slide 20: Development projects gaining momentum
Development Projects = Pekabex Development projects gaining momentum as of 30.09.2022 apartments number reservationnumbers Preliminary agreements omits Caer Apartamenty Origin Mechelinki 106 3 54 0 46% Apartamenty55 + Mechelinki (SMS) 58 6 0 0 90% Casa Fiore (Hafciarska) 40 3 30 0 18% , , . > Projec
Slide 21: Casa Fiore, Hafciarska St. Warsaw
= Pekabex Hafciarska St. | Warsaw Development project Casa Fiore The development project includes 40 independent 2- and 3-story apartments ranging from 59 to 94 sqm, each with its own garden (a total of more than 3,000 m* of usable living space will be created). At the end of February 2022, the inst
Slide 22: Mechelinki, Gdynia
= Pekabex Mechelinki | Gdynia Development project Mechelinki On June 29, 2020, Pekabex S.A. and Pekabex Development Sp. z 0.0. concluded with Origin Investments Sp. z 0.0. and Origin Gdynia 1 Sp. z 0.0. ("Origin") an investment agreement for the joint implementation of the investment in Mechelinki c
Slide 23: Casa Baia, Hel
= Pekabex Casa Baia | Hel Development project Casa Baia On 30 April 2021, the Group acquired a plot of land located in Hel, at Zeromskiego Street. As part of the planned modern building will be constructed, which will comprise an estimated 51 holiday flats and 1 commercial unit commercial premises.
Slide 24: Katedralna, Czestochowa
= Pekabex Katedralna | Czestochowa Development project Katedralna For the purpose of realizing the investment, an investment agreement was signed on 15 March 2021 between Pekabex Development Sp. z 0.0. (Investor 1) and Investor 2, which is the owner of land properties located in Czestochowa at Kated
Slide 25: Jasielska, Poznan
= Pekabex Jasielska 3 | Poznan Development project Jasielska 3 JA_SIELSKA is an intimate housing estate designed for people aware of their needs and the surrounding world. Three five-story buildings with mezzanine floors will be constructed in the 3rd stage of the investment at Jasielska Street, com
Slide 26: P.Homes, Poznan
= Pekabex P.Homes | Poznan Development project P.Homes The Group's latest residential construction solution is direct-to-consumer offering P,HOMES - a system for building single-family houses using prefabrication technology. The technology used to build P. HOMES houses significantly exceeds the load
Slide 27: Selected realized contracts: Prefabrication contracts
= Pekabex Selected realized contracts Prefabrication contracts
Slide 28: Lodz Tubings
= Pekabex Lodz Tubings Contract contains production and delivery of 29.900 pcs. of tubings for 2 railroad tunnels in Lodz. Production advancement is 85% of which about 46% of production has been transport for construction site. Contract is scheduled at the end of April 2023.
Slide 29: Dabrowa Gornicza, SK Innovation
Pekabex Dabrowa Gornicza SK Innovation 6 S & £& 3 3 3B g 3 3 2 2 S 5 ra a= g € S & < gs re 2 a 2 6 Vv € g 3 ro) = =) g Prefabrication contains 4 500 elements solid walls). (columns, beams,
Slide 30: Barlinek
= Pekabex Barlinek Barlinek S.A. Construction contains production building ca. 32 thous. m?. Prefabrication of production hall contains ca. 854 elements (columns, beams, HC slabs, roog beams, foundations).
Slide 31: Kutno
= Pekabex Kutno Newly Weds Food production hall Construction contains building of production hall. Prefabrication of production hall contains ca. 1 381 elements (columns, beams, HC slabs, roog beams, foundations).
Slide 32: Stargard
= Pekabex Stargard External Ward in Stargard of the Detention Center in Szczecin Construction contains 3 buildings of detention facility. Prefabrication of production hall contains ca. 1412 elements (3-layer walls, solid walls, HC slabs, columns).
Slide 33: Kostrzyn
= Pekabex Kostrzyn Lech Modern Fabrics Construction contains one warehoues. Prefabrication of parking hall contains ca. 511 elements (columns, beams, HC slabs, roog beams, foundations). Construction contains warehouse buildings ca. 18,6 thous. m.
Slide 34: Mosina
= Pekabex Mosina Anton Rohr - warehouse Construction contains one warehoues. Prefabrication of parking hall contains ca. 620 elements (columns, beams, HC slabs, roog beams, foundations). Construction contains warehouse buildings ca. 17,5 thous. m%.
Slide 35: Gorzow Wielkopolski
= Pekabex Gorzow Wielkopolski TPV DISPLAYS - warehouse Construction contains one warehoues. Prefabrication of parking hall contains ca. 433 elements (columns, beams, HC slabs, roog beams, foundations).
Slide 36: Goteborg
= Pekabex Goteborg Smidmek Construction contains office building. Prefabrication of building contains ca. 445 elements (3-layer walls, solid brick walls, columns, beams).
Slide 37: Goteborg and Malmo
= Pekabex = Pekabex Goteborg Malmo Smidmek Skanska Construction contains 2 residential buildings. Construction contains assembly of 2 residential building. Prefabrication of buildings contains ca. 728 elements (3-layer walls, solid brick - Prefabrication contains ca. 3 800 elements (8,4 thous. m? of
Slide 38: Malmo and Helsingborg
= Pekabex Malmo Skanska Construction contains one ficility building (school). Prefabrication of parking hall contains ca. 1 960 elements (3-layer walls, solid walls, HC slabs, prestrested solid slabs). = Pekabex Helsingborg Serneke Sveriabe Construction includes assembly of residential building with
Slide 39: Malmo and Helsingborg
= Pekabex Malmo Skanska Construction contains one ficility building (school). Prefabrication of parking hall contains ca. 1 960 elements (3-layer walls, solid walls, HC slabs, prestrested solid slabs). = Pekabex Helsingborg Serneke Sveriabe Construction includes assembly of residential building with
Slide 40: Selected realized contracts: Construction services
= Pekabex Selected realized contracts Construction services
Slide 41: Opole and Itowa
= Pekabex = Pekabex Opole ltowa CTP - warehouse and office CTP - warehouse and office Construction contains warehouse and office building. Construction contains warehouses and office facilities - total floor areaca. 111,9 thous. m2. Total floor area - almost 19,5 thous. m2. Prefabrication includes d
Slide 42: Kobytka and Nowy Dwor Mazowiecki
= Pekabex Kobytka CTP - warehouse and office Construction contains warehouse and office building. Total floor area - almost 31,1 thous. m2. Prefabrication includes delivery and assembly of 836 elements (columns, beams, stairs, HC slabs, filgree slabs). = Pekabex Nowy Dwor Mazowiecki Reckitt - wareho
Slide 43: Pruszkow and Lublewo
= Pekabex = Pekabex Pruszkow Lublewo MLP - warehouse and office 7R Construction contains warehouse and office building. Construction contains warehouse and office facilities - total a floor area ca. 27,6 thous. m?. Total floor area - almost 32 thous. m2. Prefabrication includes deliveryand assembly
Slide 44: Housing projects
PFR Nieruchomosci | Torun PFR Nieruchomości | Sianów Housing project Housing project
Slide 45: Housing and parking hall projects
TTS Development | Lublin MTP | Poznań Housing project Parking hall project
Slide 46: New key projects
= Pekabex New key projects + Contractvalue compared to revenues or 2021 tin PLN) Date Contractor Description «Contract value (%) Contract currency March 18, 2022 March 18, 2022 April, 2022 CTP Invest Poland Ltd CTP Invest Poland Anton Réhr Ltd Transport International Poznan The subject of the contra
Slide 47: New key projects cd.
= Pekabex Date Contractor «Contract Description value (%) Contract currency New key projects cd. + Contractvalue compared to revenues or 2021 tin PLN) June 1, 2022 July 21, 2022 July 25, 2022 SK Engineering Co. Ltd. Sp. 20.0. Branchin Poland A. Epstein and Sons International, Inc. INVEST-PARK Develo
Slide 48: New key projects cd.
= Pekabex New key projects cd. + Contractvalue compared to revenues or 2021 tin PLN) a Contract Contract Date Contractor Description value (%) currency The subject of the contract is the construction of six Walbrzyska Specjalna Strefa Ekonomiczna _ warehousing and production halls with social and of
Slide 49: New key projects cd.
= Pekabex a Contract Contract Date Contractor Description Value (6) currency New key projects cd. The subject of the contract is the design, manufacture, September 22, delivery, installation of prefabricated elements within the 2022 Serneke Sverige AB framework of the investment named Bona Terra, lo
Slide 50: Assets
ASSETS 30.09.2022 31.12.2021 Non-current assets Goodwill 25 239 25 239 Intangible assets 2 958 3 067 Property, plant and equipment 391 321 392 129 Investment properties 25 143 25 304 Investments in related parties 1 616 569 Receivables and loans 2 151 1 636 Derivative assets 7 717 2 209 Long-term pr
Slide 51: Equity and liabilities
EQUITY AND LIABILITIES 30.09.2022 31.12.2021 Equity Shareholders’ equity attributable to the Shareholders of the Parent Company: Share Capital 24 827 24 827 Own shares (-) - - Share premium 25 245 25 245 Other reserves 7 956 38 Retained earnings 377 320 330 542 Shareholders’ equity attributable to t
Slide 52: Income statement
01.01.2022 01.01.2021 01.01.2021 - 30.09.2022 - 30.09.2021 - 31.12.2021 Net sales 1 255 535 1 052 199 1 504 862 Costs of sales 1 056 275 910 389 1 310 733 Gross profit (loss) on sales 199 260 141 810 194 129 Selling expenses 80 282 60 778 84 723 Administrative expenses 46 153 39 357 52 657 Other ope
Slide 53: Cash-flow from operating activities
01.01.2022 01.01.2021 01.01.2021 Cash-flow from operating activities - 30.09.2022 - 30.09.2021 - 31.12.2021 Net profit (loss) before tax 60 892 38 265 49 277 Adjustments for: Depreciation and impairment allowances of property, land and equipment 20 493 19 862 26 724 Change in fair value of investmen
Slide 54: Cash flow from investing and financing activities
Cash flow from investing activities 01.01.2022 01.01.2021 01.01.2021 - - 30.06.2022 - 30.09.2021 31.12.2021 Purchase of intangible assets (1 406) (1 280) (2 079) Sale of intangible assets - - - Purchase of property, plant and equipment (8 994) (16 155) (17 518) Sale of property, plant and equipment
Slide 55: i a“ i )
= Pekabex i a“ i )