Slide 1: Presentation of results for 1–3Q 2024
Confidential Murapol Group Presentation of results for 1–3Q 2024 Q3 2023 r. 1 20 November 2024
Slide 2: Presenting today
Confidential Presenting today Murapol Management Board Nikodem Iskra Przemysław Kromer Iwona Sroka CEO CFO Marketing, PR, IR & ESG 2
Slide 3: Summary
Confidential Summary Sales in 1–3Q 2024: 2,084 units (development contracts and preliminary contracts)—an increase of 0.4% despite 1 the demanding environment and declining trend on the market 2 Sale in November 2024 of 948 units in the PRS segment in the design & build approach based on a framework
Slide 4: Further growth in the PRS segment
Confidential Further growth in the PRS segment Segment generating significant cashflows and supplementing the company’s principal development business 948 units PLN 262m Gdańsk value of DMA contracts • ul. Twarda: 365 units sold under framework • ul. Śląska: 583 units agreement with AEREF VI 4
Slide 5: About the Group
Confidential About the Group 5 Kraków
Slide 6: Murapol Group
Confidential Murapol Group • One of the largest and most 23 years 21 cities experienced residential developers in Poland, in business since 2001 Gdynia Gdańsk presence on the with Murapol Group • The most geographically diversified Bydgoszcz Olsztyn residential market developments portfolio of devel
Slide 7: What sets us apart?
Confidential What sets us apart? 1 Proven stable sales results despite challenging macroeconomic conditions 2 Leading market position with highly supportive fundamentals 3 Unique and vertically integrated business model—high cashflow, low engagement of equity, optimal margins 4 High level of geograp
Slide 8: Two complementary segments
Confidential Two complementary segments PRS segment generating significant incremental cash in addition to core resi-for-sale business Sales in 2024 carried out in two operating segments: • Affordable product highly resilient to Affordable product macroeconomic fluctuations Resi-for-sale • Addressin
Slide 9: Product targeting the broadest group of customers
Confidential Product targeting the broadest group of customers Apartments in the affordable and affordable premium segments Structure of apartment sales by gross price (PLN ’000) Apartments priced below PLN 600,000 accounted for 90% of total Murapol Group sales 36,0% 30,3% 16,3% 7,5% 5,4% 4,5% <300
Slide 10: Examples of projects by the group
Confidential Examples of projects by the group Affordable and affordable premium segments Łódź Gdańsk Wrocław Bielsko-Biała Bydgoszcz Kraków 10
Slide 11: Murapol 1–3Q 2024
Confidential Murapol 1–3Q 2024 11 Gdańsk
Slide 12: Residential developers’ market in 1–3Q 2024
Confidential Residential developers’ market in 1–3Q 2024 Change in average monthly wages compared to inflation (CPI) • In the 3rd quarter, a continuation of trends visible in the 2nd quarter 20% rosnąca Rising siła nabywcza consumer konsumentów purchasing power • Rebuilding of developers’ product li
Slide 13: Key events in 1–3Q 2024
Confidential Key events in 1–3Q 2024 Further growth in operating scale and strong product line 4,736 units 3,194 units Lublin, Kielce (+48.8% y/y) (+22.1% y/y) Częstochowa on offer at the end introduced to presence on new of September 2024 product line (R4S markets segment) Poznań 13
Slide 14: 1–3Q 2024 in numbers
Confidential 1–3Q 2024 in numbers 1,720 units handed over to retail 2,084 development contracts and PLN 9,300 (-23.0% y/y) customers (+0.4% y/y) preliminary contracts (+12.0% y/y) average net price (+150 paid reservation per m2 of units sold agreements) PLN 786.3m PLN 193.2m PLN 131.8m EBITDA net pr
Slide 15: Product line resilient to macro changes
Confidential Product line resilient to macro changes Similar, satisfactory margins in major urban areas and in regional cities • Similar percentage increase in average transaction prices in 2021–2024 in • Growth in the share of cash customers to 49%, vs. an major urban areas (+31%) and regional citi
Slide 16: Sales of apartments in 1–3Q 2024
Confidential Sales of apartments in 1–3Q 2024 Comparable sales y/y despite uncertainty arising from the market environment • 2,084 units (vs. 2,076, +0.4%) were sold under development • The most apartments in the R4S segment were sold in Łódź contracts and preliminary contracts, and an additional 15
Slide 17: Handovers in 1–3Q 2024
Confidential Handovers in 1–3Q 2024 Lower level of handovers in the retail segment linked with timetable of development projects • Increase in average price of units handed over in 1–3Q 2024 of 10.7% 2,234 1,720 • The most units were handed over in 1-3Q 2024 to customers handovers in 1–3Q 2023 hando
Slide 18: Key financial data for 1–3Q 2024
Confidential Key financial data for 1–3Q 2024 Decline in sales revenue due to lower level of handovers • Growth in the average price of units handed over in 1–3Q 2024 of 10.7% (to PLN 396,200 vs. PLN 357,800 in 1–3Q 2023) • Decline in revenue of 14.7% in the retail segment connected with the lower n
Slide 19: Key financial data for 1–3Q 2024
Confidential Key financial data for 1–3Q 2024 Results y/y impacted by lower level of handovers in 1–3Q 2024 vs. 1–3Q 2023 1st margin (GM1)* EBIT Net profit (PLNm) (PLNm) (PLNm) -22% -30% -31% 378.4 294.4 229,0 22,3 189,9 18,1 159,6 R4S 131,8 356,1 276,3 PRS 1-3Q 2023 1-3Q 2024 1-3Q 2023 1-3Q 2024 1-
Slide 20: Group’s current financing structure
Confidential Group’s current financing structure • Safe net debt/adjusted EBITDA LTM ratio (1.05 at the end of 3Q 2024) • In April 2024 Murapol adopted a programme for issuance of bonds of up to PLN 500m, and then in May successfully issued the first series of bonds with a combined value of PLN 150m
Slide 21: Record number of units offered, and a strong landbank
Confidential Record number of units offered, and a strong landbank • At the end of 3Q 2024 Murapol’s offer included 4,736 units in 14 cities • Record number of apartments under construction: 8,684 units at 31 projects in 15 cities • Active landbank with a capacity for construction of nearly 22,000 u
Slide 22: Units added to the product line in 1–3Q 2024
Confidential Units added to the product line in 1–3Q 2024 One of the biggest offers on the market: 4,736 units at the end of 3Q 2024 • In 1–3Q 2024 the Murapol Group added 3,194 residential units to its offer in 11 cities, including a new operating market, Lublin 2,615 3,194 units added in 1-3Q 2023
Slide 23: Projects offered for sale in 1–3Q 2024
Confidential Projects offered for sale in 1–3Q 2024 • In the first three quarters of 2024 Murapol added to the offer 3,194 new units • The units introduced into sales are being built in 11 cities, including both the largest residential markets in Poland, e.g. Poznań, Łódź, Wrocław and Gdańsk, but al
Slide 24: Projects under construction at the end of 3Q 2024
Confidential Projects under construction at the end of 3Q 2024 Record number of units under construction • Record-high number of apartments under construction: 8,684 • Additionally, as of the end of 3Q 2024, projects under construction had units with a combined area of c. 363,000 m2, in 114 building
Slide 25: Projects in the pipeline at the end of 3Q 2024
Confidential Projects in the pipeline at the end of 3Q 2024 Attractive and well-diversified portfolio of projects in preparation • 14,158 units in the pipeline, with a combined area of c. • Strong landbank in Warsaw (for 3,157 units), Łódź (2,097), Poznań (1,368) 600,000 m2, in 16 cities and Gdańsk
Slide 26: Summary
Confidential Summary 26 Łódź
Slide 27: Summary
Confidential Summary Sales in 1–3Q 2024: 2,084 units (development contracts and preliminary contracts)—an increase of 0.4% despite 1 the challenging environment and declining trend on the market 2 Sales in November 2024—948 units in the PRS segment in the design & build approach, based on a framewor
Slide 28: Thank you!
Confidential Thank you! Investor Relations contact: ir@murapol.pl Q3 2023 r. Q&A 28 Gdańsk
Slide 29: Appendices
Confidential Appendices 29 Bielsko-Biała
Slide 30: Profit and loss statement
Confidential Profit and loss statement PLN ’000 1–3Q 2024 1–3Q 2023 Change 786,323 966,892 -18.7% Sales revenue Revenue from sales to retail customers 685,904 803,795 -14.7% 100,419 163,097 -38.4% Revenue from sales to PRS Gross profit on sales 235,451 310,204 -24.1% 29.9% 32.1% -2.2pp Gross margin
Slide 31: Balance sheet
Confidential Balance sheet Assets 30.09.2024 31.12.2023 Liabilities 30.09.2024 31.12.2023 Equity attributable to Non-current assets 91,960 86,523 shareholders of the parent 612,162 557,960 company Current assets 2,219,454 1,773,292 Non-controlling interest - 1,425 Total assets 2,311,414 1,859,815 To
Slide 32: Projects under construction
Confidential Projects under construction • As of the end of 3Q 2024, the portfolio of projects under construction included 8,684 units with a combined usable floor area of 363,000 m2, arising in 114 buildings erected in 31 projects in 15 cities • The most new apartments are being built in Łódź (2,00
Slide 33: Projects under construction
Confidential Projects under construction No. of residential and UFA (residential and Location Project commercial units commercial, m2) Gliwice Murapol Osiedle Szafirove (bldg. 1, 2) 180 8,786 Gliwice Murapol Osiedle Szafirove (bldg. 6, 7) 188 9,941 Kraków Czerwone Maki (bldg. 1) [PRS] 404 12,115 Kra
Slide 34: Projects under construction
Confidential Projects under construction No. of residential and UFA (residential and Location Project commercial units commercial, m2) Łódź Murapol Osiedle Faktoria (bldg. 1, 2) 269 9,868 Łódź Murapol Agosto (bldg. 1, 2, 3) 442 20,304 Łódź Murapol Argentum (bldg. 1) 409 19,410 Łódź Murapol Nowa Przę
Slide 35: Projects under construction
Confidential Projects under construction No. of residential and UFA (residential and Location Project commercial units commercial, m2) Siewierz Murapol Siewierz Jeziorna (bldg. 15–18) 115 5,784 Sosnowiec Murapol Apartamenty Na Wzgórzu IV (bldg. 4, 5) 305 14,707 Toruń Murapol Aviator (bldg. 1) 170 5,
Slide 36: Projects in the pipeline
Confidential Projects in the pipeline • As of 30 September 2024, within the Murapol Group landbank, there was a portfolio of pipeline projects comprising about 14,200 units with a combined usable floor area of c. 600,000 m2, ensuring continuity of the group’s business for the next several years Loca
Slide 37: Unique, resilient business model
Confidential Unique, resilient business model Integrated business model Building Information Modelling Land acquisition BIM technology enables preparation of a precise bill of quantities, helping prevent • Effective land acquisition model • Payment of a large portion of the price deferred conceptual
Slide 38: Shareholders
Confidential Shareholders Shareholder No. of shares Capital AEREF V PL Inwestycje sp. z o.o. 27,760,000 68.0% 19.7% Nationale Nederlanden PTE 2,960,000 7.3% Other 68.0% AEREF V PL Inwestycje sp. z o.o. Hampont sp. z o.o. 2,040,000 5.0% Other 8,040,000 19.7% Total 40,800,000 100.0% 5.0% Hampont Sp. z
Slide 39: Organizational culture and corporate governance
Confidential Organizational culture and corporate governance Solid governance structure aimed at effective and sustainable growth in value Supportive shareholders and independent Experienced supervisory board decision-making • Highly experienced Supervisory Board with • Experienced stakeholders with
Slide 40: Ambitious plans of the ESG strategy
Confidential Ambitious plans of the ESG strategy Pillars of the ESG strategy Advanced preparations • Sustainable modern construction • Murapol has already completed drafting of • Responsible strategic partners strategic ESG analyses, including regulatory readiness, climate threats and opportunities,
Slide 41: Legal disclaimer
Confidential Legal disclaimer This presentation was prepared solely for informational purposes. It does not constitute an advertisement or offering of securities in public trading. Sources of information were used in the presentation which Murapol SA regards as reliable and precise, but there is no