Slide 1: Q3 2018 Results and Business Update as of 31 October 2018
Altos de los Fresnos Boadilla del Monte Madrid Q3 2018 Results and Business Update as of 31 October 2018 November 2018 1 2018 CORPORATE PRESENTATION
Slide 2: Disclaimer
Disclaimer This document has been prepared by Aedas Homes, S.A. (the “Company”) and comprises slides for a presentation to the market of the results of the Company and its subsidiaries (the “Group”) during the first nine months of 2018 and operating results as of 31 October 2018. For the purposes of
Slide 3: Key Highlights Q3 2018
Key Highlights Q3 2018 Key Highlights ✓ 992 Launched Units. Ramp-up accelerating 01 Solid Operational Performance ✓ 128 €Mn in sales in Q3 + October 2018 ✓ All developments on track for 2018 deliveries ✓ Ramp up impact on Q3 P&L evident in all key metrics ✓ 55.4 €Mn Revenue 02 9M Financial Results ✓
Slide 4: Agenda
Agenda 1 Business Update 2 Q3 2018 Financial Results Vasco de Gama, Palma de Mallorca (Balearic Islands) 4 Q3 2018 RESULTS
Slide 5: Projects Launched as of 31 October 2018
Projects Launched as of 31 October 2018 01 BUSINESS UPDATE 992 units launched1 in Q3 + Oct (GDV: 317 €Mn) / 3,982 total units launched1 (GDV: 1.46 €Bn) Ramp-up activity of launched2 projects (by # units) Regional breakdown of total launches as of 31 Oct 2018 % units3 #projects 35 7 13 11 9 75 Andalu
Slide 6: Marketing Activity as of 31 October 2018
Marketing Activity as of 31 October 2018 01 BUSINESS UPDATE 352 units sold in Q3 + Oct (GDV: 128 €Mn) / 1,852 total units sold (GDV: 648 €Mn) Sales1 Evolution in # units & €Mn2 Regional Sales1 breakdown as of 31 Oct 2018 % units2 310 €Mn 75 €Mn 135 €Mn 91 €Mn 37 €Mn 648 €Mn 54 €Mn 593 €Mn 915 units
Slide 7: Construction and Permits as of 31 October 2018
Construction and Permits as of 31 October 2018 01 BUSINESS UPDATE 848 units started construction in Q3 + Oct / 2,260 total units under construction 932 units w/ permit granted in Q3 + Oct / 2,638 total units w/ permit granted Construction in # units Permits Requested Maturity (# months since request
Slide 8: 2018 Expected Deliveries
Total housing units 277 2018 Expected Deliveries Completed 100% as of 31 Oct 2018 Sold2 92% Project1 Regional Office Municipality # Units Construction Status Occupancy Permit Sold2 Delivered Brisas del Arenal East & Mallorca Jávea 64 Completed Granted 54 50 Galera Sun Costa del Sol Estepona 323 Comp
Slide 9: 2019 Expected Deliveries
Total housing units 1,016 2019 Expected Deliveries Under construction 100% as of 31 Oct 2018 Sold2 74% Current expected Project1 Regional Office Municipality # Housing Units Construction Progress Sold2 deliveries Altos de la Reserva Boadilla del Monte 11 7 H2 Terraza Los Fresnos Boadilla del Monte 3
Slide 10: 2020 Expected Deliveries
Total housing units 2,219 Permit granted 59% 2020 Expected Deliveries Under construction 56% Permit requested 41% as of 31 Oct 2018 Sold2 34% Permit to be requested 0% Project1 Regional Office Municipality # Units Construction Permit Status Sold2 Zagaleta 2 Costa del Sol Benahavis 1 Granted Construc
Slide 11: 2020 Expected Deliveries
Total housing units 2,219 Permit granted 59% 2020 Expected Deliveries Under construction 56% Permit requested 41% as of 31 Oct 2018 Sold2 34% Permit to be requested 0% Project1 Regional Office Municipality # Units Construction Permit Status Sold2 Jardines H. Rosario F3 y F4 Andalucía Sevilla 142 Gra
Slide 12: Business Plan 2017-2023: On Track To Deliver
Business Plan 2017-2023: On Track To Deliver Sustainable Housing Development Plan (IPO Business Plan) # Units Target Launches Target Deliveries 3.326 3.000 3.000 3.000 3.063 3.000 2.580 2.438 2.042 1.986 1.748 1.055 231 0 As of 31 Oct 2018 2017 2018 2019 2020 2021 2022 2023 Annual 4,057 2,674 Active
Slide 13: Land Bank
Land Bank 01 BUSINESS UPDATE Total Land Bank1 as of 31/10/2018: 14,521 units Investments in Q3 2018 % Regional Breakdown of units Province HPA2 as per Tinsa (YoY Q3 2018) 7.4 €Mn - Aedas acquired a 22.5% minority interest in New Follies (up to 87.5%) to comply with Aedas Strategy to take full contro
Slide 14: Agenda
Agenda Villas de Arco Norte Dos Hermanas Seville 1 Business Update 2 Q3 2018 Financial Results 14 Q3 2018 RESULTS
Slide 15: Consolidated P&L Q3 2018
Consolidated P&L Q3 2018 02 Q3 2018 FINANCIAL RESULTS AEDAS HOMES Total 9M A 1 Q3 2018 Q2 2018 Q1 2018 2017 Revenue derived from delivery of houses and sale of land in 9M 2018 – on track In € Mn 2018 A REVENUE 55.4 40.7 5.7 9.0 38.6 Cost of Goods Sold (39.6) (29.1) (4.4) (6.1) (23.3) Land sales 2 Pl
Slide 16: Balance Sheet Structure as of 30 September 2018
Balance Sheet Structure as of 30 September 2018 02 Q3 2018 FINANCIAL RESULTS Aedas Homes Change 30/09/2018 31/12/2017 In € Mn1 € Mn Strong Balance Sheet - Main Changes in the period A NON- CURRENT ASSETS 26 14 12 A B Inventories 1,020 881 139 An increase of 11.8 €Mn in tax credits for tax-loss carry
Slide 17: Net Debt as of 30 September 2018
Net Debt as of 30 September 2018 02 Q3 2018 FINANCIAL RESULTS Net Financial debt of 46.9 €Mn Significant reduction in cost of debt as a result of diversified sources of funding at competitive cost (see Balance Sheet detail). - Commercial paper issuances funding working capital Net Debt Position (€ M
Slide 18: Appendix 1: Q3 2018 Financial Results
Appendix 1: Q3 2018 Financial Results
Slide 19: Consolidated P&L Q3 2018
Consolidated P&L Q3 2018 Aedas Homes 30 September 2018 30 June 2018 31 December 2017 In € Mn1 Revenue In € Mn 55.4 14.7 38.6 Cost of Goods Sold (39.6) (10.5) (23.3) GROSS MARGIN 4.2 15.3 Marketing (3.7) (2.5) (3.6) Sales commissions (2.1) (0.5) (0.4) Other expenses related to developments (0.3) (0.2
Slide 20: Final Balance Sheet Q3 2018
Final Balance Sheet Q3 2018 Change Change Aedas Homes 30/09/2018 30/06/2018 31/12/2017 Q3 / Q2 2018 Q3 2018 / FY 2017 In € Mn1 € Mn € Mn NON- CURRENT ASSETS 26 26 14 0 12 Inventories 1,020 1,011 881 9 139 Trade and Other Receivables 26 32 53 (6) (27) Short Term Accruals 84 5 3 79 81 Cash and Equival
Slide 21: Bagaria, Cornellá
Bagaria, Cornellá 21 9M 2018 RESULTS