Slide 1: Presentation of results for 2023
Confidential Murapol Group Presentation of results for 2023 Q3 2023 r. 1 3 April 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: About the Group
Confidential About the Group 3 Kraków
Slide 4: Grupa Murapol
Confidential Grupa Murapol • One of the largest and most 23 years 19 cities experienced residential developers in Poland, in business since 2001 Gdynia Gdańsk presence on the footprint* • The most geographically diversified Bydgoszcz Olsztyn residential market portfolio of development projects in Sz
Slide 5: What sets us apart?
Confidential What sets us apart? 1 Proven stable sales results in the last 3 years despite challenging macroeconomic conditions 2 Leading market position with highly supportive fundamentals 3 Unique and vertically integrated business model – high cash flow, low engagement of equity, optimal margins
Slide 6: 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 7: Two complementary segments
Confidential Two complementary segments PRS segment generating significant incremental cash in addition to core resi-for-sale business • Affordable product highly resilient to Affordable product macroeconomic fluctuations Resi-for-sale • Addressing the broadest spectrum of customers Attractive locat
Slide 8: R4S offering caters to the broadest customer base
Confidential R4S offering caters to the broadest customer base Units in the affordable and affordable premium segments Sales structure by apartment price (PLN ’000) Apartments priced below PLN 500,000 accounted for almost 80% of Murapol’s total sales 23,3% 18,8% 19,0% 17,2% 16,1% 5,0% 0,6% Łódź Wroc
Slide 9: Examples of the group's developments
Confidential Examples of the group’s developments Affordable and affordable premium segments Łódź Gdańsk Gdańsk Bielsko-Biała Poznań Gliwice 9
Slide 10: Murapol 2023
Confidential Murapol 2023 10 Gdańsk
Slide 11: Market situation in the residential development sector in 2023
Confidential Market situation in the residential development sector in 2023 Revival of demand for apartments Change in average salary vs. inflation (CPI) • Improvement in demand in 2023 resulting from loosening consumers’ growing purchasing power 20% of monetary policy through gradual reduction of i
Slide 12: Key events in 2023
Confidential Key events in 2023 Further growth in operating scale and debut on the main market of the Warsaw Stock Exchange Poznań 3,770 units 3,724 units 15 Dec. (+43.3%) (+2.0%) listing on the main added to offering sold, net market of the (R4S segment) Warsaw Stock Exchange 12
Slide 13: 2023 in numbers
Confidential 2023 in numbers Satisfying operating results in every business area 2,801 3,031 693 Units sold in the PRS units handed units sold to retail segment in the Gdańsk over customers* design&build (+5.6%) (+1.4%) (+4.4%) approach PLN 1.2bn PLN 332m PLN 219m (+20.9%) sales revenue (+17.4%) adj
Slide 14: Growth in customers' credit capacity
Confidential Growth in customers’ credit capacity Demand supported by “Safe Credit 2%” and announced government programmes • 97% of Murapol Group’s offerings met the criteria for the Safe Credit 2% program* Sales structure** Split of mortgage vs cash customers 67% Major urban areas Regional cities 6
Slide 15: Sales of apartments in 2023
Confidential Sales of apartments in 2023 Growth in sales despite the high base from 2022 • Murapol generated total net sales in 2023 of 3,724 residential • 2,889 units were sold under development agreements, and units (+2.0%) an additional 142 units in paid reservation agreements • 3,031 units (+1.4
Slide 16: Handovers in 2023
Confidential Handovers in 2023 Increase in the number of units handed over and the average value of units delivered in the retail segment Increase in the number of units handed over by 5.6% 2,653 2,801 • +5.6% y/y • The most units were delivered in 2023 to buyers in Kraków (755), handovers in 2022 h
Slide 17: Key financial data for 2023
Confidential Key financial data for 2023 Higher sales revenue in both operating segments • Revenue increase driven mainly by the larger volume of apartment sales and higher transaction prices in the Resi-for-Sale segment • Growth in the average price of a unit handed over in 2023 to PLN 365k (vs PLN
Slide 18: Key financial data for 2023
Confidential Key financial data for 2023 Improved financial results despite high base from 2022 1st margin (GM1)* EBIT Net profit (PLNm) (PLNm) (PLNm) +13% +12% +3% 415,9 472,2 29,4 270,8 303,2 212,2 219,2 21,7 394,2 442,8 2022 2023 2022 2023 2022 2023 1st margin (GM1)* EBIT margin Net profit margin
Slide 19: Group's current financing structure
Confidential Group’s current financing structure • Signing in December 2023 of an annex to the credit agreement increasing the facility by about PLN 70m, to a total commitment by the banks of PLN 550m – in effect recovering the amortized portion of the credit (funds released in January 2024) • Safe
Slide 20: Units added to the product line in 2023
Confidential Units added to the product line in 2023 Dynamic growth in the offering in 2023, continuing in 2024: 4,700 units offered at the end of 1Q 2024 • In 2023 the Murapol Group added 3,770 residential units (+43.3% y/y) to its offer in 13 cities, including Poznań, Gdańsk, Kraków and cities in
Slide 21: Large active landbank
Confidential Large active landbank Landbank with the capacity for construction of over 21,000 residential units Under construction In the pipeline 6,238 units 256k m UFA 2 15,650 units 664k m UFA 2 • Projects under construction also include 1,363 units in the PRS segment, where • Projects in the pip
Slide 22: Growing product line and efficiently renewed landbank
Confidential Growing product line and efficiently renewed landbank • Skilful launch of sales of new projects enables maintenance of an attractive offer for customers • Efficient renewal of the landbank is a foundation for continued growth Size of offer (total number of units on 31 December) Landbank
Slide 23: Summary
Confidential Summary 23 Łódź
Slide 24: Summary of 2023
Confidential Summary of 2023 Effective exploitation of favourable market conditions 1 Revenue exceeding PLN 1.2bn (+21.0%) 2 Growth in handovers to 2,801 units (+5.6%) 3 Sales increased to 3,724 units (+2.0%) 4 Sales launched for 3,770 units 5 Offer included over 3,500 units at the end of the year 6
Slide 25: Positive prospects for upcoming periods
Confidential Positive prospects for upcoming periods Strong product line, effective business model, and auspicious market conditions 1 Market conditions favourable for business operations in 2024: • Continuing high demand on the residential market, particularly in the affordable segment • Growth in
Slide 26: Thank you!
Confidential Thank you! Investor Relations contact: ir@murapol.pl Q3 2023 r. Q&A 26 Gdańsk
Slide 27: Appendices
Confidential Appendices 27 Bielsko-Biała
Slide 28: Profit and loss statement
Confidential Profit and loss statement Improved results despite high base from 2022 2023 2022 Change 1,215,944 1,005,660 +20.9% Sales revenue Revenue from contracts for sale of apartments to retail customers 1,028,787 871,875 +18.0% 187,157 133,785 +39.9% Revenue from sales to PRS Gross profit on sa
Slide 29: Balance sheet
Confidential Balance sheet Liabilities and shareholders’ Assets 2023 2022 2023 2022 equity Non-current assets Equity attributable to 86,523 72,941 shareholders of the parent 557,960 436,761 Current assets company 1,773,292 1,656,662 Non-controlling interest 1,425 2,769 Total assets 1,859,815 1,729,6
Slide 30: Projects under construction
Confidential Projects under construction • As of the end of 2023, the portfolio of projects under construction included 6,238 residential units with a combined usable floor area of 256,000 m2, being erected in 54 buildings within 24 developments in 14 cities • The most new apartments are being built
Slide 31: Projects under construction
Confidential Projects under construction No. of residential Scheduled completion Location Project and commercial UFA Project commencement date (occupancy permit) units Kraków Czerwone Maki (building 1) [PRS] 404 12,115 September 2022 April 2025 Kraków Murapol Mateczniq (buildings 1, 2 & 3) 187 8,109
Slide 32: Projects under construction
Confidential Projects under construction No. of residential Scheduled completion Location Project and commercial UFA Project commencement date (occupancy permit) units Siewierz Murapol Siewierz Jeziorna (buildings 13 & 14) 84 4,219 January 2023 March 2024 Siewierz Murapol Siewierz Jeziorna (building
Slide 33: Projects in the pipeline
Confidential Projects in the pipeline • As of 31 December 2023, the landbank of Murapol Group included a portfolio of projects in the pipeline covering about 15,650 residential units with a combined usable floor area of 664,150 m2, securing the continuity of the group’s business for the next several
Slide 34: Shareholders
Confidential Shareholders 19.7% Other 68.0% AEREF V PL Investment S.a.r.l. Shareholder No. of shares Capital AEREF V PL Investment S.a.r.l. 27,760,000 68.0% Nationale Nederlanden PTE 2,960,000 7.3% 5.0% Hampont Hampont Sp. z o.o. 2,040,000 5.0% Sp. z o.o. Other 8,040,000 19.7% 7.3% Nationale Total 4
Slide 35: 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