Develia S.a. · GPW:DVL
Develia — H1 2025 Earnings Presentation
41 slides from Develia's earnings presentation, September 2025
Slide 1: Presentation for Investors H1 2025
PRESENTATION FOR INVESTORS H1 2025
Slide 2: Develia Group – Summary H1'2025
Develia Group – Summary H1’2025 ❑ Housing sector 1 699 premises sold in H1’2025 r. vs 1 949 in H1’2024 r. – 55% of the goal for 2025. 1 193 premises delivered in H1’2025 r. vs 1 057 in H1’2024 r. - 41% of the goal for 2025. 1 747 new premises with construction started on the offer in H1’2025 r. - 56
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 - August 2025
Housing market - august 2025 5 Residential of launched for sale, sold, units on offer - August 2025 New supply Units sold Offer Since the beginning of the year, developers have sold 24.8 thousand apartments 14 781 1 500 across 7 markets, a result similar to the same period last year, with signs that
Slide 6: Housing market – H1'2025
Housing market – H1’2025 The number of building permits issued, constructions started, and apartments handed over by In Q2’2025, 29.3 thousand apartments were completed and handed over developers on a quarterly basis in Q2’2025 for use, a 6% increase compared to the previous quarter, and the same re
Slide 7: 2. Housing sector
2. Housing sector 44 DEVELIA
Slide 8: Biggest companies in the property developer business in H1'2025
Biggest companies in the property developer business in H1’2025 Semi-annual sales in thousands Aggregation for 6 markets: Warsaw, Kraków, Wrocław, Tricity, Poznań, Łódź Source: JLL 8
Slide 9: Premises sold
Premises sold Housing segment as at 6/30/2025 0 4 1 4 12 2 15 2 20 1 55 P P 1 2 50 21 44 K W K W 1 1 15 1 4 12 Ł Ł 1 2 141 K 154 24 K 12 51 1 0 W W 12 1 0 1 5 W Ł W 4 2 W Ł W 2 141 W W 2 0 W W 220 1 0 11 0 0 CITY 1Q 2Q 3Q 4Q 2024 1Q 2Q 3Q 4Q 2025 SALES DEV 1008 899 734 485 3126 947 740 1687 WARSAW 4
Slide 10: Premises sold – sales target
Premises sold – sales target Housing segment as at 8/31/2025 3079 2933 3197 2700 target: 3100-3300 2425 2194 1949 1699 2167* 1469 1910 1699 1038 1380 780 1160 Sales 2024 cummulatively 951 462 Sales 2025 implementation 621 Sales 2025 forecast 325 * The data includes sales by BIP for the period from J
Slide 11: Premises delivered
Premises delivered Housing segment as at 6/30/2025 0 1 4 15 P P K W 4 2 5 Ł K W 1 2 22 140 K Ł 15 112 0 K 1 4 4 1 51 W 11 10 4 W 5 24 W Ł W 211 0 W Ł W 111 2 2 20 W W 102 1 0 W W CITY 1Q 2Q 3Q 4Q 2024 1Q 2Q 3Q 4Q 2025 PRZEKAZANIA DEV 598 363 656 1049 2666 368 641 1009 WARSAW 102 98 273 276 749 17 30
Slide 12: Delivery potential based on flats under construction
Delivery potential based on flats under construction Housing segment as at 6/30/2025 / Sales progress according to the start of handovers 5 20 5 2 51 743 1 44 1 10 401 1 4 2025 202 202 so d or sa e The delivery target in 2025 is 2 900 – 3 100 premises In H1’2025, 1 193 premises were delivered, and 3
Slide 13: Premises on the offer
Premises on the offer Housing segment as at 6/30/2025 in o er added in 2025 including construction including construction CITY in offer started and finished added in 2025 started OFERR DEV 3377 2969 1878 1634 WARSAW 732 615 376 348 WROCŁAW 972 829 618 475 CRACOW 735 735 231 231 GDAŃSK 258 258 186 26
Slide 14: Develia and BIP – projects under construction / secured land / JV
Develia and BIP – projects under construction / secured land / JV. Aleje Praskie Przy Parku Vita - Gdańsk Warsaw, Praga-Południe Wrocław, Krzyki 1 142 / 2 484 available for sale : 281 available for sale : 143 under preparation : 142 under preparation : 636 Ceglana Park Bemowo Vita 513 / 1 64
Slide 15: Changes in investment portfolio
Changes in investment portfolio (*) event after the balance sheet date In 2024, the Group purchased or won tenders for land enabling the construction of 4 145 residential units. In 2025, the Group purchased land that will enable it to construct another 1 470 units In January 2025, the Group acquired
Slide 16: 3. Commercial real property (Divested)
3. Commercial real property (Divested) 16
Slide 17: Assets
Assets Arkady Wrocławskie ▪ On June 30, 2025, the Issuer and its subsidiary, Arkady rocławskie S.A., in which the Issuer holds 100% of the shares entitling it to 100% of the votes at the general meeting, entered into a definitive sale agreement with Vastint Poland Sp. z o.o. to execute the prelimina
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% 22,1% 16,7% Revenue from sales (mPLN) 17,8% 1 789,5 16,2% 1 607,8 8,5 11,2% 10,9% 11,0% 10,6% 7,5% 34,9 1 067,9 748,3 2020 2021 2022 * 2023 2024 1H'2025 54,4 911,9 88,9 1 781,0 648,7 1 572,9 3,5 -10,5% 6,3 517,1 87,0 1 013,6 823,0 744,8
Slide 20: Assets
Assets Inventory value land for development (mPLN) 142,7 2 972,4 GAV Investment property and assets held for sale (mPLN) 112,8 99,2 2 689,1 2 596,7 98,1 2 213,4 987,9 926,6 55,1 91,9 1 569,6 1 556,0 0,0 1 246,0 631,9 312,2 266,6 2020 2021 2022* 2023 2024 1H'2024 1H'2025 90,4 * transformed data Inven
Slide 21: Financial Position
Financial Position Bond maturity structure (mPLN) Total bonds: PLN 620 mln Indebtedness¹– ratios 180 2000 0,3 160 1800 0,27 160 160 1 717,0 140 1 632,9 0,25 1600 1 548,4 120 0,22 1 400,4 1 427,4 1400 100 1 317,8 0,2 100 100 100 80 1200 60 1000 915,0 0,15 883,9 849,3 813,2 40 769,3 764,7 800 692,4 65
Slide 22: Dividend Policy
Dividend Policy Dividend paid out in consideration of adjusted consolidated net profit (mPLN) Dividend paid out in consideration of adjusted consolidated net profit (mPLN) (1) The dividend policy was suspended in 2019 under the reso ution carried by the ompany’s Management Board in 7/23/2020 due to
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 rkady 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 Strategy for Years 2024-2028
eve ia roup’s trategy or 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 lan
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 30 June 2025 Revenue from the sale of real esstate 181 733 - - - - - - - 181 733 Value of the real estate sold (181 733) - - - - - - - (181 733) Ch
Slide 28: Develia Group – P&L
Develia Group – P&L 30 June 2025 30 June 2025 Operating activity Sales revenue 748 323 648 718 Revenue from sales of services 4 161 10 282 Revenue from sales of goods and products 744 162 638 436 Cost of sales (473 785) (411 883) Pre-tax proffit/(loss) on sales 274 538 236 835 Profit/(loss) from inv
Slide 29: Develia Group – Balance sheet/assets
Develia Group –Balance sheet/assets 30 June 2025 31 Grudnia 2024 Assets A. Non-current assets 471 178 447 814 1. Goodwill 66 858 66 858 2. Intangible assets 2 211 4 561 3. Property, plant and aquipment 30 466 30 276 4. Non-current recievables - 612 5. Land classified as fixed assets 99 600 117 484 6
Slide 30: Develia Group – Balance sheet/liabilities
Develia Group –Balance sheet/liabilities 30 June 2025 31 December 2024 Equity and liabilities A. Equity 1 632 920 1 717 005 I. Equity attributable to shareholders of the parent 1 631 313 1 715 291 1. Share capital 457 728 457 678 2. The excess of the sale price of shares over their nominal value. 28
Slide 31: Develia S.A. – P&L
Develia S.A.– P&L 30 June 2025 30 June 2024 Operating activities Revenue from the sale 407 123 330 019 Revenue from the sale of services 26 114 19 593 Revenue from the sale of goods and products 381 009 310 426 Cost of goods sold -262 036 -233 705 Gross profit/(loss) from sales 145 087 96 314 Sellin
Slide 32: Develia S.A. – Balance sheet/assets
Develia S.A. – Balance sheet/assets 30 June 2025 31 December 2024 Assets A. Non-current assets 1 786 612 1 819 713 1. Intangible assets 1 797 3 187 2. Property, plant and equipment 25 313 25 144 3. Non-current loans and receivables 512 543 498 844 4. Non-current investments 1 174 597 1 220 289 5. La
Slide 33: Develia S.A. – Balance sheet/liabilities
Develia S.A. – Balance sheet /liabilities 30 June 2025 31 December 2024 Equity and liabilities A. Equity 1 575 264 1 593 351 1. Share capital 457 728 457 678 2. Called-up share capital not paid 838 241 775 798 3. Other reserve funds 9 623 9 623 4. Other capital 30 062 10 407 5. Net profit/(loss) 239
Slide 34: Residential projects under construction
Residential projects under construction Number of Number of Planned Planned Apartments and Apartments and Name of Project City District Segment Costruction Name of Project City District Segment Costruction Commercial Commercial Copletion Date Copletion Date Premises Premises 4Q'2025 253 4Q'2025 121
Slide 35: Key information about acquisition Bouygues Immobilier Polska
Key information about acquisition Bouygues Immobilier Polska sp. z o.o. Creating places Tworzymy miejsca to live do życia od 1 at For
Slide 36: 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 37: BIP in numbers
BIP in numbers Key informations Transaction 65,9 mEUR 1 value Apartments sold and transferred by BIP, 2022-2024 Completed apartmentrs Developer agreements One of the largest institutional housing developers with 2 Scale foreign capital, present in 3 cities - 24 years of activity on the Polish market
Slide 38: 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 83.4 k Sq.m PUM / PUU 1.6 k. units secured Poznań Poznań Warszawa 125.4 k. 23.0 k. Sq.m PUM / PUU Sq.m PUM / PUU 0.5 k. units secured 2
Slide 39: Management Board
Management Board Andrzej Oślizło, PRESIDENT OF THE MANAGEMENT BOARD Paweł Ruszczak, VICE PRESIDENT OF THE Andrzej ślizło 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 40: Shareholding
4 Shareholding Shareholders list Scheme of shares NUMBER OF SHARES NUMBER OF SHARES. NAME (s) (ary) Otwarty Fundusz Emerytainy PZU .Ziota Jesien” 18.41 85 289660 463 336 271 Notionale-Nederlanden Otwerty Fundusz Emerytainy 1918 04150673, NUMBER OF SHARES(QTY) Allianz Polska Otwarty Fundusz Emerytain
Slide 41: 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