One United Properties S.a. · BVB:ONE
One United Properties — H1 2021 Earnings Presentation
26 slides from One United Properties's earnings presentation, Aug 30, 2021
Slide 1: Investor & Analyst Call H1 2021 Results
INVESTOR & ANALYST CALL H1 2021 Results | 30.08.2021 2021 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
Slide 2: Disclaimer
DISCLAIMER This presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of shares issued by One United Properties S.A. (“OUP”), or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy One United Properties share
Slide 3: Welcome to One United Properties Results Call
Welcome to One United Properties Results Call VICTOR CĂPITANU COSMIN SAMOILĂ Executive Board Member Chief Financial Officer 2021 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
Slide 4: Call agenda and Glossary
Call agenda Glossary ASP Average Selling Price GBA Gross Built Area 1. About One United Properties GDV Gross Development Value MV Market Value 2. H1 2021 Result Highlights NOI Net Operating Income PPS Purchase Power Standard 3. Business Updates OUP One United Properties OCP One Cotroceni Park 4. 202
Slide 5: 1. About One United Properties
1. ABOUT ONE UNITED PROPERTIES 2021 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
Slide 6: One United Properties is a leading green developer
One United Properties is a leading green developer of residential, mixed- use and office real estate, in Bucharest, Romania. Since the beginning, One United Properties continuously innovates in building practices for energy-efficient, healthy and environmentally sustainable buildings, being highly r
Slide 7: 2021 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
2021 © ONE UNITED PROPERTIES 7 CONFIDENTIAL DOCUMENT
Slide 8: 2021 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
2021 © ONE UNITED PROPERTIES 8 CONFIDENTIAL DOCUMENT
Slide 9: Group Structure
GROUP STRUCTURE Victor Căpitanu Andrei Diaconescu Free-float 29.76% 29.76% 40.48% One United Properties ONE RESIDENCES NEO RESIDENCES ONE OFFICES OTHER INVESTMENTS OPERATIONAL One Mircea Eliade One Peninsula One Cotroceni Neo Properties One United Tower One Cotroceni Park One Long Term X Architectur
Slide 10: 2. H1 2021 Financial Highlights
2. H1 2021 FINANCIAL HIGHLIGHTS 2021 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
Slide 11: Key Financial Figures
KEY 433.9 FINANCIAL FIGURES One United Properties registered the best results in history in the first six months of 2021, posting a 96% increase in consolidated turnover. 220.9 Revenue and profits from development of office buildings for H1 2021 amounted to RON 88.4 147.6 million and are certified o
Slide 12: Key Financial Figures
KEY FINANCIAL FIGURES 189.4 G&A expenses remained almost constant and grew marginally by 5%, from RON 16.2 million to RON 17 million despite significant increase in volume of operations and transactions. Due to maintaining tight control over G&A expenses, EBITDA grew 223%, up to RON 58.7 189.4 milli
Slide 13: Key Financial Figures - Residential
KEY FINANCIAL FIGURES - RESIDENTIAL 332.8 Revenues from sales of residential properties increased 51% compared to 220.3 similar period of last year generated mainly by sales in projects such as One Cotroceni Park (RON 68.2m), One Peninsula (RON 108.1 60.4m), One Mircea Eliade (RON 53.9m) and One Ver
Slide 14: Assets - Residential
ASSETS – RESIDENTIAL Residential properties grew 59% compared to December 31st, 2020. in RON m Neo Timpuri Noi Other inventories The increase was generated by construction of residential developments and the partial Neo Floreasca Lake 3% 5% 5% One reclassification from investment properties Peninsul
Slide 15: Assets - Office & Landbank
ASSETS – OFFICE & LANDBANK Investment properties had a limited decrease of 4% compared to year end, generated by the change in asset class of developments One Cotroceni Park residential component and One in RON m Verdi Park projects that have received building Investment permits for residential deve
Slide 16: Cash Flow
CASH FLOW 350 The amount of cash and cash equivalents more than doubled compared to situation as of December 31st, 2020, from RON 171 million up to RON 350 million. This resulted in the increase in the proportion of cash and cash equivalents in total assets from 7% to 17%, reflecting a 171 stronger
Slide 17: 3. Business Update
3. BUSINESS UPDATE 2021 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
Slide 18: Residential Pre-Sales
RESIDENTIAL PRE-SALES 96 26,309 m2 261 apartments with a total surface of 26,309 sqm, 345 parking spaces, 16 commercial spaces and other units were pre-sold for a total of EUR 96 million in H1 2021. 12,872 m2 For comparison, in the first half of 2020, the Group pre-sold 85 apartments with a total 29
Slide 19: Pre-Sales Early Clients
PRE-SALES EARLY CLIENTS In residential pre-sales are also included the 11,360 m2 sales to early clients that pay low margins but help to partially finance the acquisition of lands. These are units that the Group pre- sold to early clients on developments that still need to receive building permits.
Slide 20: Developments Land Bank
DEVELOPMENTS LAND BANK In H1 2021, the Group marked the following milestones: As of June 30th, 2021, the Group’s land bank for • Acquisition of land for One Lake Club further real estate development, included lands (residential) with a total surface of 138,000 sqm, on which the Group estimates const
Slide 21: 4. 2021 Outlook
4. 2021 OUTLOOK 2021 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
Slide 22: Perspectives for H2 2021
PERSPECTIVES FOR H2 2021 As H1 2021 was the best first half of the year in the history of the Romanian real estate market, there Excellent perspectives for are excellent perspectives for the continued development in H2 2021. Romania currently has the 2021 to be the best year in the history of Romani
Slide 23: Market Opportunity
MARKET The housing prices in Romania continued to rise in 2020 despite of COVID-19 pandemic: the average price of apartments in Bucharest hit €1,425/sqm in December 2020, up 0.8% over the last 12 months. OPPORTUNITY Moreover, on the apartments segment, the prices rose even higher (+1.3%) up to €1,48
Slide 24: Market Opportunity
The Bucharest office space market has changed significantly over the last 10 years. Vacancy rates changed from under 1% in 2007, upwards to 20% in the aftermath of the 2009 - 2010 recession and recently recovered to healthier levels (5% - 10%). Rent MARKET levels are lower than a decade ago, however
Slide 25: 5. Q&A Session
5. Q&A SESSION 2021 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
Slide 26: Thank You!
THANK YOU! For any follow-up questions, please contact our IR team at: investors@one.ro 2021 © ONE UNITED PROPERTIES CONFIDENTIAL DOCUMENT
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