Develia S.a. · GPW:DVL
Develia — Q1 2025 Earnings Presentation
43 slides from Develia's earnings presentation, June 2025
Slide 1: Presentation for Investors Q1 2025
PRESENTATION FOR INVESTORS Q1 2025
Slide 2: Develia Group – Summary Q1 2025
Develia Group – Summary Q1 2025 ❑ Housing sector 951 premises sold in 1Q’2025 r. vs 1 038 in 1Q’2024 r. 524 premises delivered in 1Q’2025 r. vs 598 in 1Q’2024 r. 103 reservation agreements as at the end of 1Q 2025 r. 583 new premises with construction started on the offer in 1Q 2025 r. 3189 lokali w
Slide 3: Agenda
Agenda 1. Market situation 2. Housing sector 3. Commercial real property 4. Financial Data 5. Attachments
Slide 4: 1. Market situation
1. Market situation 44 DEVELIA
Slide 5: Housing market - April 2025
Housing market- April 2025 According to preliminary data from Otodom Analytics, 3.1 thousand apartments were sold in April, which is 9% less compared to the strong result in March. Since the beginning of the year, developers have sold 12.5 thousand apartments across 7 markets (Warsaw, Krakow, Wrocla
Slide 6: Housing market – 1Q'2025
Housing market – 1Q’2025 Number of building permits granted, constructions started and flats delivered by developers on a quarterly basis 1Q’2025 In Q1 2025, 27.7 thousand apartments were handed over for use, a 21% decrease compared to the previous quarter and a 6% decrease year-on-year. The number
Slide 7: 2. Housing sector
2. Housing sector 44 DEVELIA
Slide 8: Number of flats: biggest developers in Q1 2025
Biggest companies in the property developer business in Q1 2025 Company Q1 2025 Q1 2024 Y/Y Dom Development 1 033 1 011 2,2% Aggregation for 6 main markets DEVELIA 951 1 038 -8,4% Murapol 707 769 -8,1% Grupa Echo- Archicom 530 410 29,3% Robyg (**) 470 665 -29,3% Atal 348 730 -52,3% Victoria Dom (*)(
Slide 9: Premises sold
Premises sold Housing segment as at 3/31/2025 4 0 1 4 12 2 15 2 20 1 P P 1 2 21 44 K W K W 1 15 1 4 12 Ł Ł 1 2 K 154 24 K 12 51 1 0 W 12 W 1 0 W Ł W 4 2 W Ł W 2 141 W W 2 0 W W 220 11 0 0 0 951 premises sold IN Q1 2025 r. 10 103 reservation agreements 9
Slide 10: Premises sold – sales targets
Premises sold – sales targets Housing segment as at 3/31/2025 / sales targets 2025 1 0 2 2 00 2425 21 4 1 4 1 14 10 0 2024 ales c la ivel ales in 2025 4 2 ales ar e s for 2025 Sales targets in 2025 is 3100-3300 units 11 10
Slide 11: Premises delivered
Premises delivered Housing segment as at 3/31/2025 0 1 4 15 P P K W 4 5 Ł K W 1 2 140 K Ł 15 112 0 K 1 4 4 1 W 11 10 4 W 5 24 W Ł W 211 W Ł W 111 2 2 20 W W 102 1 W W 0 12 11
Slide 12: Delivery potential based on flats under construction
Delivery potential based on flats under construction Housing segment as at 3/31/2025 / Sales progress acc. to commencement of deliveries 25 114 20 1 1 1 25 5 P 0 1 52 K W Ł 743 K 5 2 05 51 W 40 11 W Ł W W W 2025 202 land ank sold for sale The delivery target in 2024 is 2,900-3,100 In Q1 2025, 524 pr
Slide 13: Premises on the offer and land bank
8053 Premises on the offer and land bank 259 114 720 Housing segment as at 3/31/2025 1666 115 320 315 1781 397 P KATOWICE 768 Ł 3513 K 611 113 108 CRACOW 209 186 W Ł W 663 123 92 117 WARSAW on offer added in 2025 land bank The 2025 target for new premises to be added to the offer – 3,100-3,300 new u
Slide 14: Assets – housing estates
Assets – housing estates (*) Aleje Praskie Przemyska Vita Gdańsk, Ujeścisko – Łostowice Warsaw, Praga-Południe 397 available for sale: 63 available for sale: 179 720 under preparation: 284 Ceglana Park Bemowo Vita Katowice, Brynów Warsaw, Bemowo Poznań available for sale: 315 available for
Slide 15: Changes in investment portfolio
Changes in investment portfolio In 2024, the Group purchased land that will enable it to construct more than 4,145 units (including over 1,600 JV units in Gdynia), an average price for usable floor space of a dwelling is PLN 2,633 In Q1 2025, the Group purchased lands in ózefów, near Warsaw, and in
Slide 16: 3. Commercial real property (Divested)
3. Commercial real property (Divested) 16
Slide 17: Assets
Assets Investment land Investment land Commercial facilities Malin, Area of 169 ha Arkady Wrocławskie ▪ The conclusion of the JV agreement with Hillwood Malin Development Logistics, LLC regarding the intention to jointly invest in the development of a logistic park with the ▪ In December 2023, a pre
Slide 18: 4. Financial Data
4. Financial Data 44 DEVELIA
Slide 19: Financial Results
Financial Results ROE and ROE (adjusted net profit) 20,5% 18,9% 16,7% 22,1% Revenue from sales (mPLN) 17,8% 11,2% 16,2% 7,5% 11,0% 1 ,5 3,8% 1 0 , ,5 3,6% , 2020 2021 2022 * 2023 2024 1Q 2025 -10,5% 10 , 5 , ROE ROE (adjusted net profit) 11, 1 1,0 , 1 5 2, Net profit and adjusted net profit(1) (mPLN
Slide 20: Assets
Assets Investment property and assets held for sale (mPLN) Inventory value land for development (mPLN) 112,8 112,8 2 936,1 98,1 2 689,1 2 213,4 91,9 1 569,6 1 556,0 1 246 2020 2021 2022* 2023 2024 1Q 2025 Land for development Inventory GAV including Malin Project and without adjustment resulting fro
Slide 21: Financial Position
Financial Position Bond maturity structure (mPLN) Indebtedness1 – ratios Total bonds: PLN 620 mln 0,3 1 785,7 1 717,0 200 0,27 1 548,4 0,25 0,22 1 400,4 1 427,4 150 1 0 1 0 1 317,8 0,2 915,0 893,2 0,15 100 883,9 849,3 813,2 0,13 100 100 100 0,12 692,4 654,4 583,9 0,1 50 769,3 474,1 468,1 493,6 0,06
Slide 22: Dividend Policy
Dividend Policy Dividend paid out in consideration of adjusted consolidated net profit Dividend paid out in consideration of adjusted consolidated net profit (mPLN) (mPLN) (1) The dividend policy was suspended in 2019 under the Dividend rate (*) 9,72% 10,31% 5,74% 5,10% 13,22% 8,25% 8,22% 7,26% reso
Slide 23: 5. Attachments
5. Attachments 44 DEVELIA
Slide 24: 2025 Targets
2025 Targets The sale under development and preliminary sales agreements of 3 100– 3 300 units Sale in 2025 rkad Wrocławskie The delivery 2 900– 3 100 units Implementation of at least two projects in the living segment Adding to the offer and construction started 3 100– 3 300 units 24
Slide 25: Develia Group's long term goals for 2024-2028
evelia ro ’s ra e for Years 2024-2028 long term goal Further substantial expansion of the scale of operations Expanding own operations as the contractor of works as in the flats for sale segment to the sales level of 4,500 part of the group flats in 2028 Consistently replenishing and securing land b
Slide 26: Key KPIs for Years 2024 - 2028
Key KPIs for Years 2024 - 2028 To increase the scale of operations Projekt Malin – to carry out the from nearly 2,700 to 4,500 (in 2028) Dividend potential of above PLN warehousing project on a JV in the housing segment, increasing 1,350 m for payment in the period basis. the share up to 7-8% in the
Slide 27: Revaluation of investment property
Revaluation of investment property Period ended Arkady Wrocławskie Sky Tower Silesia Star Retro Office House Wola Retro Malin Kolejowa Babka Tower TOTAL 31 March 2025 Revenue from the sale of real esstate - - - - - - - - - Value of the real estate sold - - - - - - - - - Changes in real estate value
Slide 28: Develia Group – P&L
Develia Group – P&L 31 March 2025 31 March 2024 Operating activity Sales revenue 253 530 401 612 Revenue from sales of services 1 790 4 652 Revenue from sales of goods and products 251 740 396 960 Cost of sales (172 716) (268 116) Pre-tax proffit/(loss) on sales 80 814 133 496 Profit/(loss) from inv
Slide 29: Develia Group – Balance sheet/assets
Develia Group – Balance sheet/assets 31 March 2025 31 December 2024 Assets A. Non-current assets 482 032 447 814 1. Goodwill 66 858 66 858 2. Intangible assets 6 056 4 561 3. Property, plant and aquipment 28 997 30 276 4. Non-current recievables 612 612 5. Land classified as fixed assets 130 648 117
Slide 30: Develia Group – Balance sheet/liabilities
Develia Group – Balance sheet/liabilities 31 March 2025 31 December 2024 Equity and liabilities A. Equity 1 785 652 1 717 005 I. Equity attributable to shareholders of the parent 1 783 790 1 715 291 1. Share capital 457 728 457 678 2. The excess of the sale price of shares over their nominal value.
Slide 31: Develia S.A. – P&L
Develia S.A.– P&L 31 March 2025 31 March 2024 Operating activities Revenue from the sale 152 902 208 977 Revenue from the sale of services 11 843 9 267 Revenue from the sale of goods and products 141 059 199 710 Cost of goods sold (107 216) (130 185) Gross profit/(loss) from sales 45 686 78 792 Sell
Slide 32: Develia S.A. – Balance sheet/assets
Develia S.A. – Balance sheet/assets 31 March 2025 31 December 2024 Assets A. Non-current assets 1 881 849 1 819 713 1. Intangible assets 4 656 3 187 2. Property, plant and equipment 24 011 25 144 3. Non-current loans and receivables 561 110 498 844 4. Non-current investments 1 219 823 1 220 289 5. L
Slide 33: Develia S.A. – Balance sheet/liabilities
Develia S.A. – Balance sheet /liabilities 31 March 2025 31 December 2024 Equity and liabilities A. Equity 1 609 004 1 593 351 1. Share capital 457 728 457 678 2. Called-up share capital not paid 775 832 775 798 3. Other reserve funds 9 623 9 623 4. Other capital 13 545 10 407 5. Net profit/(loss) 35
Slide 34: Residential projects under construction
Residential projects under construction 34 Total (31.03.2025) 6 066 34 • As of March 31, 2025, the Group had sold 3,478 residential units which were under construction at that time • As of March 31, 2025, the Group held 219 residential units, including 39 units as part of joint ventures (JV)
Slide 35: Key information about acquisition of Bouygues Immobilier Polska
Key information about acquisition Bouygues Immobilier Polska sp. z o.o. Creating places Tworzymy miejsca to live do ż19cia for years od 1 la
Slide 36: Transaction details
Transaction details Szczegóły transakcji Who are we acquiring • Bouygues Immobilier Polska sp. z o.o. (hereinafter referred o as „B P”) For how much • 66,5 mln EUR How are we • Own funds financing it • Refinancing with a loan up to PLN 200 million (loan disbursed in tranches). How are we paying • 10
Slide 37: Why BIP
Why BIP The transaction aligns with Develia Group’s growth strategy, enabling a rapid increase in scale while maintaining a safe financing structure. Develia The transaction is consistent with the Develia long-term strategy. Strategy ((growth through M\&A, development in key markets) The transaction
Slide 38: BIP in numbers
BIP in numbers Key informations Apartments sold and transferred by BIP, 2022-2024 One of the largest institutional housing developers with Completed apartmentrs Developer agreements 1 Scale foreign capital, present in 3 cities - 24 years of activity on the Polish market / 74 completed investments 63
Slide 39: BIP has a large portfolio of development projects in three cities
BIP has a large portfolio of development projects in three cities in Poland, with a strong focus on the Warsaw market Description Geographical presence Warsaw Total 150.2 k Sq.m PUM / PUU 1.0 k. units under construction 1.9 k. units secured Poznań Poznań Warszawa 209.4 k. 28.1 k. Sq.m PUM / PUU Sq.m
Slide 40: BIP's projects and operations compared to Develia
B P’s rojec s and o era ions co ared o Develia BIP - Gdańsk 766 / 2 584 Currently, 1,300 units are under construction, while the project pipeline within the land secured by BIP includes an additional 2,800 units. The acq isi ion of B P’s rojec s will ena le evelia o f r er s ren en i s osi ion in e
Slide 41: Management Board
Management Board Andrzej Oślizło, PRESIDENT OF THE MANAGEMENT BOARD Paweł Ruszczak, VICE PRESIDENT OF THE Andrzej Oślizł is a graduate of the Academy of Economics in Katowice (with major in Economics) MANAGEMENT BOARD and the Silesian University of Technology in Gliwice (with major in IT). He also c
Slide 42: Shareholding
4 Shareholding Shareholders list NAME Otwarty Fundusz Emerytainy PZU .Ziota Jesieri” ‘Nationale-Nederianden Otwarty Fundusz Emerytainy Allianz Polska Otwarty Fundusz Emerytalny Generali Otwarty Fundusz Emerytalny PKO BP BANKOWY Otwarty Fundusz Emerytainy Other shareholders Total shares: Shareholders
Slide 43: Disclaimer
DISCLAIMER By taking part in a meeting during which this Presentation will be displayed and by reading slides presented you undertake to comply with the below restrictions. The foregoing applies to the Presentation, information contained herein presented orally by the Company or any person acting on