Slide 1: Q1 2022/23 Results
1 April 2022 Presentation 30 June 2022 Q1 2022/23 Results 15 July 2022 Maremma (Palma de Mallorca) AEDAS Homes Q1 2022/23 Results Presentation
Slide 2: Legal Disclaimer
Legal Disclaimer By attending this presentation (the “Presentation”) and/or by accepting this Presentation you will be taken to have represented, warranted and undertaken that you have read and agree to comply with the contents of this disclaimer. This presentation has been prepared by AEDAS Homes,
Slide 3: Highlights
Nature (El Cañaveral, Madrid) 01 Highlights AEDAS Homes Q1 2022/23 Results Presentation
Slide 4: Overview
Torres (Valencia) Overview Strong visibility on Selective, opportunistic 1 2022/23 & 2023/24 2 approach • High coverage ratios • Taking an opportunistic giving great visibility approach to land on Business Plan investment • Focusing on optioning opportunities Sound solvency Attractive shareholder 3
Slide 5: Executive Summary Q1 2022/23
Dromos (Mairena de Aljarafe, Sevilla) Executive Summary Q1 2022/23 Sales Operations 1 • Very high sales coverage levels: 89% of 2022/23 and 2 • 813 units launched • 5,540 units under construction, 62% of 2023/24 deliveries 709 units completed and ready ensured for delivery • Order Book valued at • 7
Slide 6: Business Update
02 Business Update Mendaña (Vigo) AEDAS Homes Q1 2022/23 Results Presentation
Slide 7: Extracting value from our pricing power, construction cost tensions starting to ease
Extracting value from our pricing power, construction cost Sales tensions starting to ease Solid demand for AEDAS product • Net sales: 566 BTS units (+18% LTM) • Positioning in higher tickets: €388k ASP, +18% above same period in 2021 • Order Book valued at over €1,400m Net sales (BTS units) 2.635 2
Slide 8: Sales absorption rate
Sales absorption rate Average monthly sales absorption rate (BTS) Sales absorption ratio (#net sales/available product, rolling 12-month average) continues to be well above 10% historical average (5.7%) 9% 8% 7% 6% 5% Average over the 4% period: 5:7% 3% 2% Costa del Sol, East & Mallorca 1% and Catal
Slide 9: Strong coverage levels on Business Plan goals
BTS + BTR as of 30 June 2022 Strong coverage levels on Business Plan goals Launches Sales Construction 2% 31% 100% 100% 89% 93% 62% 69% 61% 2% 16% 8% 2022/23 2023/24 2024/25 2022/23 2023/24 2024/25 2022/23 2023/24 2024/25 Launched Sold Completed Under construction AEDAS Homes Q1 2022/23 Results Pres
Slide 10: High visibility on 2022/23 and 2023/24 goal achievement
High visibility on 2022/23 and 2023/24 goal achievement 2022/23E 2023/24E Revenue €900m - €925m €1,000m - €1,150m EBITDA €160m - €170m €195 - €210m (margin) (≃18%) (≃19%) Implied ROE ≃12% ≃12% In accordance with the Dividend Policy: 50% pay-out plus Dividends potential extraordinary dividends up to
Slide 11: Q1 2022/23 Financial Results
Maremma (Palma de Mallorca) TBU (BLF): vertical shot (Andalucia) 03 Q1 2022/23 Financial Results AEDAS Homes Q1 2022/23 Results Presentation
Slide 12: Q1 2022/23 Financial Results
Q1 2022/23 Financial Results Q1 2022/23 Q1 2021/22 Change • €103m in revenue derived Revenue €103m €108m €-4m (-4%) from the delivery of 261 • Units delivered €101m €108m €-7m (-6%) units at an ASP of €386k • Land sales - - - • Services €2m - €2m (-) • High gross margin: 27.8% Gross margin €29m €34m
Slide 13: Balance sheet as of 30 June 2022
Balance sheet as of 30 June 2022 30 June 2022 31 March 2022 Change • Increase in inventories due Inventories €1,627m €1,520m €107m to significant levels of • Land €643m €644m €-1m construction progress • Works in progress €841m €672m €169m • Completed €120m €183m €-63m product • Strong cash position
Slide 14: Financial leverage
Financial leverage 30 June 30 June AEDAS Homes ratios 2022 2021 LTC1 23.4% 19.5% LTV2 17.7% 14.5% • Leverage profile in line with business’s seasonal Net financial debt / EBITDA 2.8x 1.8x cycle Interest coverage 6.8x 11.3x • Average cost of debt (73% Average cost of debt 3.8% 3.2% fixed rate and lon
Slide 15: Renewal of the Share Buyback Programme approved
Renewal of the Share Buyback Programme approved New Previous terms terms €50mUp to Maximum amount €50m €150m or 5.34% of share capital Maximum number 2.5m 4.9m of shares (5.34%) (9.99%) Sharp focus on shareholder remuneration1 Duration 36 months 36 months • Treasury stock position as of 30 June 2022
Slide 16: Takeaways
04 Takeaways Altius (Pamplona) AEDAS Homes Q1 2022/23 Results Presentation
Slide 17: Takeaways
Tegea (Vilanova i la Geltru, Barcelona) Takeaways Q1 2022/23 Business performance remains solid, despite the 1 complex context Leveraging on core strengths: targeting mid to high 2 customer segment; maintaining footprint focus on urban locations with proven demand; relying on local expertise for exe
Slide 18: Appendix
05 Appendix Luzzerna (Cabo AEDAS Homes de Results Q1 2022/23 los Huertos, PresentationAlicante)
Slide 19: 8,670 units on the market
As of 30 June 2022 8,670 units on the market1 Starting point 5,728 units 13,585 units 8,670 units 813 units Accumulated launches Accumulated deliveries Launches Q1 2022/23 Units on the market until 2021/22 until Q1 2022/23 as of 30 June 2022 (1) “Units on the market” includes all units available for
Slide 20: Order Book: 4,560 units (€1,400m)
As of 30 June 2022 Order Book: 4,560 units (€1,400m) Starting point €1,949m 5,728 units 3,418 units BTS €340K/unit €220m (ASP €350K) 566 units €3,129m 1,142 units BTR €388K/unit 9,722 units (ASP €179K) €322K/unit €1,400m 4,560 units €307K/unit Accumulated sales Accumulated deliveries Sales Order Boo
Slide 21: Construction and permitting
As of 30 June 2022 Construction and permitting Units under construction (BTR+BTS) 501 units 298 units 5,540 units 5,337 units As of 31 March 2022 Construction starts Completed product Under construction Q1 2022/23 as of 30 June 2022 Building permits in hand, pending construction start (BTS+BTR) 608
Slide 22: Regional Breakdown
As of 30 June 2022 Regional Breakdown On the market1 Permits granted Order Book in Q1 2022/23 North North 613 units, 7% Andalusia & Canarias 217 units, 5% 90 units, 15% Andalusia & Canarias Madrid Madrid Andalusia & 672 units, 15% 2,286 units 197 units Madrid Canarias 26% 32% 1,598 units Costa del S
Slide 23: Active Units and Construction Permit Request Status
As of 30 June 2022 Active Units and Construction Permit Request Status Active units1 Permit request status Finish product pending >12 months5 Design phase delivery 486 units 3,981 units 709 units, 5% 12% 31% <4 months3 9-12 months 1,702 units 240 units 44% 6% 13,0252 3,900 units units activas Market
Slide 24: Guiomar (Bormujos, Sevilla)
Guiomar (Bormujos, Sevilla) AEDAS Homes Q1 2022/23 Results Presentation