Neinor Homes Sa · BME:HOME
Neinor Homes Sa — Non-Deal Roadshow (June 2017)
13 slides from Neinor Homes Sa's roadshow presentation, June 2017
Slide 1: Business Update
sus Neinor wows June 2017 Business Update
Slide 2: Contents
CONTENTS 1 Investment Thesis 2 Strong Macroeconomic Environment 3 Executing the Business Plan: Key Focus Areas for Timely Deliveries 4 Non-Financial Reporting: Leading the Sector Transformation 2
Slide 3: The Investment Thesis
Neinor Homes – Business Update 1 The Investment Thesis Leading Pure Residential Homebuilder in Spain with ~30 years of track-record Targeting multi-family residential units Medium to medium-high-end client base with access to bank mortgages 75% / 25% first vs. second residence Three Pillars to Creat
Slide 4: Unemployment Rate
Unemployment Rate 2 220.000 230.000 240.000 260.000 270.000 280.000 290.000 300.000 250.000 Source: 0% 5% 10% 15% 20% 25% 30% 2007 Q1 2007 Q1 2007 Q2 2007 Q2 2007 Q3 2007 Q3 2007 Q4 2007 Q4 2008 Q1 2008 Q1 2008 Q2 2008 Q2 2008 Q3 2008 Q3 2008 Q4 2008 Q4 2009 Q1 2009 Q1 2009 Q2 2009 Q2 2009 Q3 2009 Q
Slide 5: Supply at Very Low Levels to Satisfy the Growing Demand
Neinor Homes – Business Update 2 Supply at Very Low Levels to Satisfy the Growing Demand # of Transactions Recovering - Very low new 250.000 Housing starts 73% below the peak 0% 900.000 build transactions due to lack of supply -10% 200.000 -20% 800.000 Historic Balance 10% / 90% -30% 700.000 600.000
Slide 6: A Market Led by Neinor with Disciplined Competition
Neinor Homes – Business Update 2 A Market Led by Neinor with Disciplined Competition Land Bank (units) Capital Partners Expected IPO Neinor Homes 9,728 Lone Star Public since 29/03/2017 4.292 Amenabar 5,256 Amenábar Family No IPO expected 4.002 NATIONAL PLAYERS Värde Partners, Attestor Marathon, Via
Slide 7: Continued Flow of Accretive Acquisitions of Fully Permitted Land
Neinor Homes – Business Update 3 Continued Flow of Accretive Acquisitions of Fully Permitted Land 9 weeks Launched WIP Delivery Land Marketing Plan Design / Procurement / Commercialisation Under Construction Post Acquisition Sale Land Acquisition as at the end of Q1 Q2 Land Acquisitions Update Globa
Slide 8: Accelerated Launching of Sites
Neinor Homes – Business Update 3 Accelerated Launching of Sites 6 weeks Launched 32 weeks WIP Delivery Land Design / Procurement / Commercialisation Under Construction Post Acquisition Marketing Plan Sale Development Activity as at the end of Q1 Q2 Development Activity Update Global Picture: 60 site
Slide 9: Strong Pre-Sales with an Order Book of ca. EUR 500m
Neinor Homes – Business Update 3 Strong Pre-Sales with an Order Book of ca. EUR 500m Launched 32 weeks WIP Delivery Land Design / Procurement / Commercialisation Under Construction Post Acquisition Marketing Plan Sale Abra Homes: commercialization started in Q2 Pre-Sales Activity as at the end of Q1
Slide 10: 31 Building Sites with Over 2,000 Units Under Construction
Neinor Homes – Business Update 3 31 Building Sites with Over 2,000 Units Under Construction Launched WIP 17-20 months Delivery Land Marketing Plan Design / Procurement / Commercialisation Under Construction Post Acquisition Sale Construction Activity as at the end of Q1 Q2 Construction Activity Upda
Slide 11: On Track and on Budget with 2017 Deliveries
Neinor Homes – Business Update 3 On Track and on Budget with 2017 Deliveries Launched WIP Delivery Land Marketing Plan Design / Procurement / Commercialisation Under Construction Post Acquisition Sale Deliveries as at the end of Q1 Q2 Deliveries Update Global Picture: 3 sites, 159 units fully delive
Slide 12: Ancillary Businesses Continue To Deliver Cash
Neinor Homes – Business Update 3 Ancillary Businesses Continue To Deliver Cash Ancilliary Legacy Remaining BV and Business Q1Sales (EUR m) Quarterly Q2 Ancilliary Servicing Revenues Business Update and EBITDA evolution 250 Sales: EUR 57m LEGACY Remaining BV: EUR 163m 200 Quarter in line with expecta
Slide 13: Non-Financial Reporting: Leading the Sector Transformation
Neinor Homes – Business Update 4 Non-Financial Reporting: Leading the Sector Transformation Institutionalization • Land acquisitions: Company implemented in June the Code of Best Practices for land brokers • Half-year audit: Company to publish limited review conducted by Deloitte on presenting H1 re