32 slides from Poznanska Korporacja Budowlana Pekabex Sa's earnings presentation, May 2026
Slide 1: Investor presentation: Financial results for 2025
1 Investor presentation Financial results for 2025 May 2026 Modern system construction
Slide 2: Disclaimer
Disclaimer This material has been prepared by Pekabex S.A. (the "Company"). Reproduction, distribution and transmission of this presentation in other jurisdictions may be subject to legal restrictions, and those who may reach it should be aware of and comply with any such restrictions. Failure to co
Slide 3: 2025 results under market pressure
2025 results under market pressure 1 994 1 923 213 136 Backlog value Sales revenue Prefabrication Production Cash* [in PLN million, y/y] [in PLN million, y/y] [in thousand m3, y/y] [in PLN million] 44,4 -36,9 -66,9 -66,6 Gross Result on Sales EBITDA EBIT Net Result [in PLN million, y/y] [in PLN mill
Slide 4: Production volume (in thousand m3)
Production volume (in thousand m3)
Slide 5: Factors influencing the result of the year 2025
Factors influencing the result of the year 2025 Prefabrication General Contracting Development segment Reduction of the average selling price by nearly 400 PLN/m³ between The first quarter and the fourth quarter Decrease in margin on some contracts due to, m.in administrative problems of Lack of suf
Slide 6: Market environment in 2025
Market environment in 2025 Slowdown in key markets Cost pressure and margin erosion Residential sector Weak economic situation in all markets relevant to Developer activity has decreased the company: Poland, Germany and Sweden, Aggressive price competition by 15% y/y especially in the residential ma
Slide 7: Market environment in 2025: Sweden
Market environment in 2025 Slowdown in all markets we operated in 2025 SWEDEN: Housing construction started in Sweden (2020-2030) Turnover comparison (2021-2024) 65 2400 60 2200 55 Liczba mieszkań (tys.) 2000 50 1800 45 1600 40 1400 1200 35 1000 30 800 25 2021 2022 2023 2024 2020 2021 2022 2023 2024
Slide 8: Market environment in 2025: Germany
Market environment in 2025 Slowdown in all markets we operated in 2025 Germany: Contracts Acquired Active offers from Offers sent in 2025 Lost offers in 2025 in 2025 2025 205 245 26 14 (84%) • • • • • • • •
Slide 9: First effects of the recovery plan
First effects of the recovery plan COST REDUCTION AND SIGNIFICANT INCREASE IN PREFABRICATION MARGIN COST REDUCTION INCREASE IN PRODUCTION ▪ Reorganization of the production process and work system VOLUME ▪ Optimization of the cost of concrete mix: -10 PLN/cubic meter. ▪ 7.4% w 2025 vs 2024 ▪ Central
Slide 10: Directions of development of Pekabex: Increase in sales effectiveness
Directions of development of Pekabex Increase in sales effectiveness Number of I quarter I quarter 2024 2025 contracts* by segment 2025 2026 Number of bids sent* 849 842 PREF PL 38 60 Effectiveness* 16% 26% PREF GC 8 4 DACH 7 Scandinavia 4 21 Number of Contracts * 50 92
Slide 11: Goal: Reduce production costs by PLN 100
Directions of development of Pekabex Increase in sales effectiveness I quarter 2026 Goal: Reduce production costs Drop in concrete prices -10 PLN net/ m³ by PLN 100 Savings for 220 thousand m3 of production: PLN 2.2 million Change of the work system Objective: central purchasing The savings achieved
Slide 12: Production - effects
Production - effects 18 % Production Volume 8 517 m³ I quarter 2025 I quarter 2026 Contracting 2026 Production 178 000 m³ January 17 352 m³ 18 496 m³ volume February 15 134 m³ 17 132 m³ Poland 164 000 m³ March 15 434 m³ 20 809 m³ FTO 14 000 m³ SUM 47 920 m³ 56 437 m³ Advancement % 73% . PRODUCTION >
Slide 13: Record order book
Record order book 2 467 282 2 173 666 161 1 994 873 1 857 687 11875 875 822 822 461 2,0 [PLN billion] 1 373 31.12.2024 31.03.2025 30.09.2025 31.12.2025 31.03.2026
Slide 14: Financial results
| results — la Financ ‘\
Slide 15: Sources of revenue of the Pekabex Group in 2025
Sources of revenue of the Pekabex Group in 2025 ▪ Prefabrication (PLN 875 million) – a segment of the Group, responsible for approx. 46% of revenues; is growing thanks to the growing demand for fast and low-carbon construction technologies. Increase by 8.5 percent y/y ▪ GC – General Contractor (PLN
Slide 16: Foreign contracts as a growth driver
Foreign contracts as a growth driver – already 27.4 percent of the Group's revenues [consolidated data, in PLN million] *The company also sold on foreign markets, including m.in Switzerland, Slovakia, the Netherlands, Latvia, the Czech Republic and the United Kingdom.
Slide 17: Consolidated quarterly financial data
Consolidated quarterly financial data ▪ Stable revenue despite the challenging market environment. ▪ Maintaining a high sales rate in 2025. ▪ The expected market recovery in 2026, combined with the implementation of the transformation and optimization plan, should translate into an improvement in th
Slide 18: Segment Results
Segment Results Prefabrication revenues +8.6% y/y to PLN 875,291 thousand. Negative operating result: PLN -35,758 thousand vs. PLN +36,211 thousand a year earlier. Margin: -4.1% vs 4.5%. GC: revenues +27.0% y/y to PLN 943,328 thousand. Operating profit decreased by 80% to PLN 9,228 thousand. Margin:
Slide 19: Cash flow (in PLN million)
Cash flow (in PLN million) Operating activities Investment activities Financial activities 202.8 +82.0 +24.2 -13.1 +30.0 +2.5 -36.9 +6.3 +15.2 136.0 -32.5 -61.6 +9.9 -23.1 -1,7 -20.4 -85.7 -32.0 Change Measures Profit Depreciation Other Taxes CFO Expenditure Loans Other CFI Credits Leasing Bonds Int
Slide 20: Working capital and debt
Working capital and debt *Working capital = Inventories + Goods and receivables + Cash – Payables Inventory consolidated data, in PLN thousand *The value of "semi-finished products in progress" is mainly development projects in progress. After obtaining of the occupancy permit, the value of the proj
Slide 21: The potential of the Pekabex Group
The potential of the Pekabex Group
Slide 22: Group potential
Group potential Factories - located in key regions of the country and the plant 300 thousand m3 in Germany they provide fast deliveries and efficient logistics Total Production Capacity* for each investment location. *With a perfect fit to the line; in real terms, approx. 340 thousand m3 6 plants PL
Slide 23: Pekabex development project portfolio
Pekabex development project portfolio ≡ ▪ In 2025, Pekabex Development concluded 187 development agreements and handed over 127 apartments to customers ▪ The goal is to increase the number of concluded developer agreements by 50-100 percent and to achieve a strongly positive financial result in 2026
Slide 24: P. Homes
Implementation Plans for 2026 in 2025 P. Homes Project Contracts 138 180 Houses Sold 63 100 Single-family house construction system in prefabrication technologyThe segment is currently financially neutral Sales plan 2026: 100 houses (completion – but it is growing in strength 2027), average contract
Slide 25: Largest construction investments in Poland
The total value of the 3,000 largest construction investments in Poland is PLN 1.87 trillion, of which PLN 334 billion is under construction and PLN 1.54 trillion is in the planning and tender phase. (source: "Wprost" no. 13, March 30, 2026 "40 construction champions", from: Spectis). Offshore wind
Slide 26: Why Pekabex?
PEKABEX – the leader in prefabricated construction Why Pekabex? Leader in system construction in Poland with a growing presence in Europe Supplier of modern prefabricated systems Prefabrication as the new standard of construction - with a long-term growth potential Prefabrication cheaper thanks to f
Slide 27: Thank you for your attention
CONTACT Thank you for your attention www.pekabex.com This presentation has been prepared for internal use only and may not be disclosed to third parties or published. The information contained in this presentation is confidential information and constitutes a business secret of the Pekabex Group (Pe
Slide 28: Appendix
Appendix
Slide 29: Advantages of prefabrication
Pros Advantages of prefabrication Shortening Better use of The Supreme Less work Reduced Reduction Durability time space Quality on the execution risk construction costs and structural implementation and control construction site and operation of safety the facility Shortening 2 to 5 % more Producti
Slide 30: General Contracting
General Contracting ▪ End-to-end delivery: from concept to implementation, in the "Design & Build" model, ensuring consistency and efficiency of projects. ▪ Integration of production and design: in-house precast elements and a design office guarantee quality control, reduced lead times and minimized
Slide 31: Balance Sheet: Assets
Balance Sheet: Assets 31.12.2025 31.12.2024 Change Change [%] Assets [consolidated data] [in thousand zlotys] [in thousand zlotys] Non-current assets 508 297 457 375 50 922 11,1% Property, plant and equipment 410 360 397 715 12 645 3,2% Intangible assets 10 505 7 871 2 634 33,5% Investment propertie
Slide 32: Balance Sheet: Liabilities
Balance Sheet: Liabilities 31.12.2025 31.12.2024 Change Change [%] Liabilities [consolidated data] [in thousand zlotys] [in thousand zlotys] Equity 484 711 552 642 -67 931 -12,3% Long-term liabilities 201 937 170 579 31 358 18,4% Long-term loans and loans 112 588 100 431 12 157 12,1% Long-term finan