Emlak Konut Gayrimenkul Yatirim Ortakligi A.s. 0 % Certificates 2025-31.12.2199 · BIST:DMLKT
Emlak Konut Gayrimenkul Yatirim Ortakligi A.s. 0 % Certificates 2025-31.12.2199 — Emlak Konut REIC — Investor Presentation (February 2025)
29 slides from Emlak Konut Gayrimenkul Yatirim Ortakligi A.s. 0 % Certificates 2025-31.12.2199's investor presentation, Feb 3, 2025
Slide 1: Emlak Konut REIC Investor Presentation
Emlak Konut REIC Investor Presentation 03 Feb 2025
Slide 2: Disclaimer
D IS CLA ME R BY ATTENDING THIS MEETING WHERE THIS PRESENTATION IS MADE, OR BY READING THE PRESENTATION SLIDES, YOU AGREE TO BE BOUND BY THE FOLLOWING LIMITATIONS. THIS PRESENTATION DOES NOT CONSTITUTE OR FORM PART OF AND SHOULD NOT BE CONSTRUCTED AS, AN OFFER TO SELL, OR THE SOLICITATION OR INVITAT
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TH I S P A GE I S I N TE N TI ONALLY LE FT B LA NK 3
Slide 4: Emlak Konut REIC Milestones
EMLAK KONUT REIC MILESTONES A great success story wirtten 2025 250.000 Units 2023 Largest REIC in Turkey Total Assets TRY 177.3 Bn 2013 SPO / Capital Increase Capital Increased %50,6 FreeFloat 2010 IPO / Capital Increase Capital Increased %25 FreeFloat 2002 Adopted REIC Status 1953 Establishment EML
Slide 5: Company Figures
COMPANY FIGURES Turkey’s largest REIC with total assests of TRY 177 Bn 5.1 Million sqm LAND BANK 256,2 Billion TRY TOTAL REVENUE SHARING MODEL TENDER 228,2 Billion TRY TOTAL TURN-KEY TENDER 50,6 Billion TRY PRE-SALES in 2024 Q3 42,6 Billion TRY TOTAL PROFIT TARGET in 5 YEARS 3,4 Billion TRY 214 K Un
Slide 6: 2024 at a Glance
2024 at a GLANCE A milestone Sales of 2024 Recent Activities Facts year in which • Pre-Sales • Strategic partnership with TOKI major tenders 50,6 Billion TRY • 2 tender has been completed were concluded • Pre-Sold Area in 2024 • 111 RSM and record pre- 843,6 k sqm 223 Turn-Key sales revenue • TRY 6.
Slide 7: Sustainability
SUSTAINABILITY Since 2019; 408 Tons of less fuel consumption 30.818 kg Paper 18.900 Tons of CO₂ emission prevented 7.962 kg Glass 300 Tons of savings on water 5.062 kg Plastic 18.000.000 m³ 1.019 kg of annual total natural gas savings Metal Annually with our SPP power plants 45.533 Tons We produce t
Slide 8: Outlook
OUTLOOK Strong earnings 84,75 visibility ahead 75,9 from RSM projects 42,6 36,8 42,2 13,56 13,74 13,96 15,56 11,25 9,39 8,57 29,81 42,1 33,7 6,86 7,48 7,91 7,32 7,33 6,15 4,15 5,08 5,65 6,41 7,09 4,78 4,41 5,1 6,27 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q Minimum Guarenteed Profit Book V
Slide 9: Ongoing RSM Projects Table – 30.09.2024
ONGOING RSM PROJECTS TABLE – 30.09.2024 Project Name Emlak Konut Min. Book Guarenteed Total # of Units Launch Progress Exp. Comp. sold in 2024 3Q Guarenteed Value Min. Profit Units /Sale Level Date* Revenue Ratio 1 CER İSTANBUL 643.760.915 193.020.809 450.740.105 148 147 99,32 91,94 2024 2 NİŞANTAŞI
Slide 10: Revenue Sharing Model
REVENUE SHARING MODEL 2022 2023 2024 Tender Schedule Tenders Tenders Appraisal Value Min. Emlak Konut Multiplier REVENUE SHARING MODEL Share Total Base Value 1 MUĞLA MİLAS MEŞELİK 210.715.000 462.000.000 2,2 2 ESENLER ATIŞALANI 1. ETAP 919.710.550 1.830.500.000 1,99 TOTAL 1.130.425.550 2.292.500.000
Slide 11: Project Development: Multiplier
PROJECT DEVELOPMENT The multiplier Multiplier for RSM Projects (Ongoing Projects) performance achieved in 30.000 6 the past years demonstrates 5,39 the high 25.000 5 potential of the coming years. 20.000 4,06 4 Multiplier Million 15.000 3 27.673 2,91 2,30 2,41 2,18 2,08 10.000 1,83 1,74 2,03 2 13.34
Slide 12: Revenue Sharing Model
REVENUE SHARING MODEL Revenue Completed Projects Ongoing Projects sharing projects with sustainable high income potential… 54,07 18,55 Billion Billion 13,75 Billion 14,14 7,17 Billion Billion BASE VALUE of LAND at TIME of EMLAK KONUT’S SHARE in TOTAL TENDER VALUE the TENDER EMLAK KONUT’S SHARE in TO
Slide 13: Land Development
LAND DEVELOPMENT Developments Land Acquisiton Land Purchase Breakdown of Tendered in the right 2003 - 2022 2003 – 2022 Plots by Book Value place and at the (sqm) (TRY) (sqm) right cost Favourable strategic 10.691.382 2.817.461.801 7.542.969 partnership with TOKİ 35.137.495.270 21.177.474 26.549.456
Slide 14: Company Sales Data
COMPANY SALES DATAS Sales record UNIT SALES SALES TOTAL VALUE -TRY MILLION- broken two 10.915 53.065 12.000 60.000 50.578 years in a row. 10.000 50.000 7.380 8.000 6.119 40.000 5.686 6.024 5.695 5620 27.661 6.000 4.178 30.000 17.164 4.000 1.977 20.000 15.247 5.537 6.524 5.668 2.000 10.000 2.832 0 0
Slide 15: Turkish Real Estate Market
TURKISH REAL ESTATE MARKET RESIDENTIAL UNIT SALES IN TURKEY 1478 FIRST SALE-SECOND HAND -’000- 750 724 599 710 1.030 1.030 1026 994 837 846 651 632 660 652 512 470 462 460 484 380 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 First Hand Second Hand Total BUILDING PERMIT STATISTICS IN TURKEY -’00
Slide 16: Turkish Real Estate Market
TURKISH REAL ESTATE MARKET NUMBER of HOUSE SALES 2021 2022 2023 2024 250 200 150 100 50 0 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec EMLAK KONUT REIC – 2024 – INVESTOR PRESENTATİON 16
Slide 17: Housing Price Index
108,5 123,5 138,5 153,5 168,5 183,5 198,5 213,5 228,5 18,5 33,5 48,5 63,5 78,5 101 116 131 146 161 191 206 221 93,5 176 3,5 -4 26 41 56 71 86 11 Mar.14 Jun.14 Sep.14 Dec.14 Jan.15 Mar.15 Jun.15 Sep.15 Dec.15 EMLAK KONUT REIC – 2024 – INVESTOR PRESENTATİON Jan.16 Mar.16 Jun.16 Sep.16 HOUSING PRICE IN
Slide 18: Financial Track Record
FINANCIAL TRACK RECORD EBITDA margin EBITDA Margin (%) is watching at 55,2 56,8 60 high levels 50,6 50 41,3 41,3 40 29,4 24,4 23 25,8 30 20 13,5 10 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q Key Financials (million TRY) 2017 2018 2019 2020 2021 2022 2023 2024 3 Net Sales 3.900,6 3.927,6
Slide 19: Financial Track Record
FINANCIAL TRACK RECORD Total Assets (million TRY) Profit for Period (million TRY) Return on 177.334 equity 180.000 3.500 2.997 3.392 continues to 165.000 2.500 1.756 1.332 150.000 121.483 1.761 1.268 increase… 135.000 1.500 778 836 120.000 46.959 105.000 500 90.000 30.760 28.644 75.000 24.185 -500 2
Slide 20: Balance Sheet
BALANCE SHEET ASSETS Notes 30.09.2024 31.12.2023 Current Assests 169.449.615 154.689.890 Cash and Cash Equivalents 4 3.732.798 21.556.543 Financial Investments 5 - - Trade and other Receivables 7 5.550.885 12.080.196 Inventories 8 152.786.257 114.725.520 Pre-paid Expenses 310.238 175.398 Other Curre
Slide 21: Balance Sheet and Income Statement
BALANCE SHEET INCOME STATEMENT (‘000) SUMMARY of SIGNIFICANT FIGURES (‘000) 1 Jan – 30 Sep 1 Jan – 30 Sep 30 September Notes 2024 2023 2024 Revenue 17 16.725.600 29.560.229 Total Assets 177.333.553 Cost of Sales (-) 17 -10.436.632 -23.239.623 Cost of Land and Residential Unit Gross Profit 6.288.968
Slide 22: Receivables
RECEIVABLES Trade Receivables Off-Balance Sheet Receivables TOTAL Strong cash in Instalments (000) flow from pre- 1 Year 4.107.984 11.401.601 15.509.585 sales 2 Years 1.798.886 7.154.951 8.953.837 3 Years 847.624 2.769.258 3.616.882 4 Years 559.198 1.304.920 1.864.118 5 Years and Above 1.186.303 564
Slide 23: Land Portfolio
LAND PORTFOLIO Continue to Land Acquisition Breakdown of Book Breakdown of Appraisal add high Breakdown by Cities Value by Cities Values by Cities investment %0,1 %0,3 value on the %1,0 lands %23,9 %29,9 developed… %24,9 %74,8 %70,0 %75,1 İstanbul İstanbul İstanbul Ankara Ankara Ankara Other Other O
Slide 24: Land Bank Appraisal Summary Table
LAND BLANK APPRAISAL SUMMARY TABLE (‘TRY – 30.09.2024) Line City / District Site Area (sqm) Book Value (TRY) Appraisal Value ( TRY) 1 ANKARA ÇANKAYA PARSELLERİ 11.461 28.448.411 20.939.000 ANKARA 11.461 28.448.411 20.939.000 2 İSTANBUL ARNAVUTKÖY PARSELLERİ 2.012.437 260.207.889 695.418.456 3 İSTANB
Slide 25: Buildings Appraisal Summary Table
BUILDINGS APPRAISAL SUMMARY TABLE (BUILDINGS – 30.09.2024) Number of Book Value Appraisal Value Line City / District Project Name Units in Stock (TRY) (TRY) 1 İstanbul / Ataköy YALI ATAKÖY 1 25.093.705 26.750.000 2 İstanbul / Ataşehir NİDAKULE ATAŞEHİR 1 38.578.834 54.640.300 3 İstanbul / Ataşehir V
Slide 26: Ongoing Turn-Key Projects Table – 30.09.2024
ONGOING TURN-KEY PROJECTS TABLE – 30.09.2024 Book Value + Progress Payment Total Number of % Sold Line City / Region Project Name (TRY) Units (2024 3Q) 1 İstanbul / Küçükçekmece Bizim Mahalle 2.949.974.000 737 710 2 İstanbul / Esenyurt Emlak Konut Vadi Evleri 4.234.651.000 942 919 3 İstanbul / Çekme
Slide 27: Completed RSM Project Table
COMPLETED RSM PROJECT TABLE (PROVISIONAL ACCEPTANCE APPROVES COMPLETELY) Base Value of Land EMLAK KONUT’s Share Revenue Share EMLAK KONUT’s Project Name Multiplier at Time of the Tender in Total Revenue Ratio(%) Realized Value 1 GEÇMİŞ 32 PROJE TOPLAM 2.089.470.012 2.339.708.284 33,92 2.376.243.196
Slide 28: Ongoing RSM Projects Table
ONGOING RSM PROJECTS TABLE (‘TRY - FIGURES BASED ON THE AGREEMENTS) Base Value of Land at EMLAK KONUT’s Share Revenue Share Projects Name Multiplier Time of Tender in Total Revenue Ratio 1 FATİH YEDIKULE 67.915.000 105.968.270 35,01 1,56 2013 67.915.000 105.968.270 2 NİDAPARK İSTİNYE 1.062.270.000 1
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