Poznanska Korporacja Budowlana Pekabex Sa · GPW:PBX
Poznanska Korporacja Budowlana Pekabex Sa — Pekabex — H1 2020 Earnings Presentation
35 slides from Poznanska Korporacja Budowlana Pekabex Sa's earnings presentation, September 2020
Slide 1: Investor presentation 1H 2020
Investor presentation 1H 2020 The art of prefabrication www.pekabex.pl 1
Slide 2: Key numbers in 1H20
Key numbers in 1H20 Solid fundamentals create basis for dynamic development PLN 788 m PLN 478 m 93.400 m3 PLN 30 m Value of backlog as Revenues prefabricated Net income of 30.06.2020* elements produced *Concerns prefabrication contracts, construction services, pilot development project on their own
Slide 3: Prefabrication production
Prefabrication production Volume of production in 2003-2020* (000 m3) Stable growth of production 200 182 175 Increased production in prefabrication segment results mainly from the 150 140 143 volume of realized contracts in first half of 2020; production amounted to 93.392 thous. m3 while in the pr
Slide 4: Backlog
Backlog Backlog (thous. PLN) Strong, well-diversified backlog contracts to be realized in following year 24 795 (3%) Pekabex Group systematically builds strong and well-diversified backlog, which will fill the production in following years. It contains aggregated value of signed contracts, which are
Slide 5: Profit and Loss Account
Profit and Loss Account Revenues (thous. PLN) Revenue growth and stable margins 20,9% 478 471 16,9% 16,9% First half 2020 was exceptional record period in 391 587 terms of revenues and results. 349 872 Good sales results and profitability achieved in first half of 2020 9,9% 9,4% compared to the same
Slide 6: Profit and Loss Account
Profit and Loss Account H1 2020, similar to the results for the entire 2019 Selected financial items (thous. PLN) 164 199 115 694 119 307 81 903 80 730 67 473 51 209 55 449 47 858 45 096 39 396 35 342 34 972 30 496 30 232 25 836 Y2017 Y2018 Y2019 1H 2020 Gross profit on sales EBITDA EBIT Net profit
Slide 7: Strong balance sheet & financial stability
In thous. PLN 30.06.2020 30.06.2019 Change % 31.12.2019 Fixed assets 343 808 274 690 +25,2% 338 184 Strong balance sheet & financial stability Current assets, including: 423 028 341 599 +23,8% 415 709 Stable and safe level of financial leverage Inventories 83 180 62 432 +33,2% 61 986 Assets from con
Slide 8: Strong balance sheet & financial stability: CAPEX
CAPEX breakdown 2014 2015 2016 2017 2018 2019 1H20 Strong balance sheet & financial stability Land 0 6 137 8 522 0 5 946 76 0 Buildings 3 664 20 487 15 109 1 967 1 252 5 126 28 280 CAPEX to expand growth potential Machinery and equipment 10 697 6 867 30 205 1 245 1 217 7 750 42 441 Vehicles 1 694 27
Slide 9: Pekabex cash flow (thous. PLN)
Pekabex cash flow (thous. PLN) 180000,0 160000,0 +9 755 -79 588 +36 923 140000,0 120000,0 106 572 100000,0 +3 368 -11 901 +16 486 -7 340 -2 147 80000,0 +635 +2 071 *74 835 60000,0 40000,0 20000,0 0,0 Cash and cash Profit (loss) before Amortisation and Changes in Income tax paid Other net cash Net ca
Slide 10: Graphical area (POLAND)
Graphical area (POLAND) GDANSK High production capacity The Group is gradually increasing its production POZNAN capacity through organic development and acquisitions. Currently, the production capacity is MSZCZONOW over 230 thous. m3 per year. As at the balance sheet date, the Group has 5 production
Slide 11: Graphical area (EUROPE)
17% Graphical area (EUROPE) Well diversified revenue sources 79% Prefabrication contracts and growing importance of general construction are leading segments and generates the largest part of Group’s revenues. In connection with establishing cooperation with largest logistic 4% companies in previous
Slide 12: Selected financial data by segments
Others – segment profil (thous. PLN) and margin 34,1% 35,3% 26,2% 854 1H20 772 New segment – Selected financial data by segments 515 development -72,7% margin Stable margins in most important segments 1H 2018 1H 2019 1H 2020 Revenues segment (in PLN '000) % profit margin Construction services – segm
Slide 13: Selected financial data by segments
Increase in the segment's operating result (thous. PLN) Selected financial data by segments 60000,0 Stable margins in most important segments +18 421 -3 435 -712 -662 +339 51 516 50000,0 In 1H 2020 highest operating results were achieved in prefabrication contracts and construction services 40000,0
Slide 14: Key events 1H 2020
Key events 1H 2020 14
Slide 15: Opening new plant in Gdansk-Kokoszki
Opening new plant in Gdansk-Kokoszki New, modern plant in Gdansk › new plant opened Jan 2020 in Pomeranian Special Economic Zone in Gdansk-Kokoszki, › state of the art, one the most modern and sophisticated facilities in Europe, › fully automated lines, resulting in minimum labor work requirements (
Slide 16: New development pilot project Osiedlowa
New development pilot project_Osiedlowa 43 Jozefoslaw_Warsaw On October 29, 2019, the company Pekabex Development purchased for PLN 2,370 thous. plot in Jozefoslaw in connection with the planned implementation of another pilot project, consisting in the construction of 12 terraced houses. On Decembe
Slide 17: Key investments
Key investments Jasielska_II | Poznan The contract includes 4 residential buildings (110 apertments). For day of the publication of this presentation over 90% of appartments are already sold (a developer agreement has been signed or appartments reserved). On August 3, 2020 the investment obtained pe
Slide 18: Selected financial data
Selected financial data PBX share price (PLN) WIG_Construction share price Stock market and ratios 1,6 1,5 +42% PEKABEX YTD 1,4 1,3 Share price (PLN) 14.0 1,2 Shares out 24 826 512 1,1 1 P/E 7.20 0,9 P/BV 1.04 0,8 0,7 mCap (PLN) 347.57 0,6 sty 20 lut 20 mar 20 kwi 20 maj 20 cze 20 lip 20 sie 20 wrz
Slide 19: Pekabex is a dividend company
Pekabex is a dividend company Dividend (in PLN ) 7 620 3 899 3 933 0,31 2 663 2 179 1 937 0,16 0,16 0,09 0,11 0,08 15,1% 14,9% 12,2% 12,9% 9,4% 7,8% 2014 2015 2016 2017 2018 2019 total dividend per share dividend value % of net profit The dividend from the profit for 2019 was paid on July 31, 2020 1
Slide 20: ATTACHMENT
ATTACHMENT The art of prefabrication www.pekabex.pl 20
Slide 21: Key contracts
Key contracts CMB CARPI, ITINERA – University Hospital | Denmark – Odense › In August 2019 Pekabex signed a construction contract regarding designing, production, transport and assembly of precast structures for the hospital in Odense (DP03 building). › In mid-October 2019 Pekabex initiate the assem
Slide 22: Key contracts
Key contracts SK Innovation | Dabrowa Gornicza Construction contains: › A production plant of separators for lithium-ion batteries – total floor area 35 000 m2. › Total area realized by Pekabex 20 000 m2. 22
Slide 23: Key contracts
Key contracts IKEA | Szczecin › The construction includes the construction of a warehouse hall (total area – 21.500 m2). › Prefabrication contains 2 728 elements (columns, slabs, beams, foundations, walls). 23
Slide 24: Key contracts
Key contracts CiFL Śnieżka | Debica › The contract includes the construction of a warehouse hall (total area – 27.900 m2) . › Prefabrication contains 662 elements (columns, HC slabs, beams, walls). 24
Slide 25: Key contracts
Key contracts Gisslaren | Stockholm Construction contains: › A residential buildings – total area 4 621 m2, › Total number of delivered elements – 1 131 elements. 25
Slide 26: Key contracts
Key contracts Stora Frosunda | Stockholm › Prefabrication contains 310 prefabricated 2-layer and single-layer brick walls to be installed. 26
Slide 27: Key contracts
Key contracts Citadellskajen Vastra | Sweden › Construction contains residential complex – area 11 000 m2. › Prefabrication contains 2 730 elements (3-layers walls, 2- layers walls, prestressed massive slabs, balconies). 27
Slide 28: Key contracts
Key contracts Prologis halls | Ruda Slaska › Construction contains warehouse – total area c.a. 51 200 m2 (halls: 48 600 m2 and 10 500 m2, office building 2 500 m2). › Prefabrication contains 1 611 elements (docks, columns, girders, HC slabs, roof beams). › The contract is realized by general contrac
Slide 29: Key contracts
Key contracts MLP | Pruszkow › Construction contains warehouse with welfare and office facility. › Total area c.a. 12 000 m2. › The contract is realized by general contracting department. 29
Slide 30: Key contracts
Key contracts Panattoni halls | Bielsko-Biala › Construction contains warehouse – total area c.a. 42 000 m2 and office space 4 000 m2. › Prefabrication contains 1 498 elements (docks, columns, girders, roof beams). › The contract is realized by general contracting department. 30
Slide 31: Key contracts
Key contracts Animal shelter | Poznan › Construction contains 4 buildings: 5.936 m2 and other necessary technical infrastructure (total area 52 000 m2). › 250 foundations were delivered as prefabricated elements. › The contract is realized by general contracting department 31
Slide 32: Key contracts
Key contracts Wittchen | Palmiry › The construction includes the construction of a warehouse hall (total area – 8.270 m2) and outdoor infrastructure (total area - 3 270 m2). › Prefabrication contains 359 elements (columns, HC slabs, beams, foundations, walls). › The contract is realized by general c
Slide 33: Key projects
*Contract Contract Date Contractor Description value (%) currency Key projects The subject of the contract is building a complex of multi- MDR Toruń family residential buildings with a playground residential April 24, 2020 9% PLN sp. z o.o. roads, pedestrian routes, technical infrastructure, road ex
Slide 34: Key projects
*Contract Contract Date Contractor Description value (%) currency Key projects Implenia The contract covers production and August 19, 2020 Construction GmbH delivery tubings for the investment in 6% EUR NL Tunnelbau Berlin. Subject of the contract: execution of construction works for the task named
Slide 35: Contact: Beata Żaczek, Vice-president/CFO
Contact: Beata Żaczek Vice-president /CFO beata.zaczek@pekabex.pl This presentation was prepared exclusively for the benefit and internal use of the addressees and does not carry any right of publication or disclosure. The information contained in this presentation is private and confidential and co