Slide 1: Presentation of results for 2024
Confidential Grupa Murapol Presentation of results for 2024 1 1 April 2025
Slide 2: Presenting today
Confidential Presenting today Murapol Management Board Nikodem Iskra Przemysław Kromer Iwona Sroka CEO CFO Marketing, PR, IR & ESG 2
Slide 3: Summary of 2024
Confidential Summary of 2024 1 Revenues exceeding PLN 1.3 billion (+9.4%). Growth in net profit to PLN 242 million (+10.4%) Combined sales of 3,862 units (2,914 units in the R4S segment, 948 units in the PRS segment)—growth year-on-year 2 despite the challenging market situation and decline in sales
Slide 4: About the Group
Confidential About the Group 4 Kraków
Slide 5: Murapol Group
Confidential Murapol Group • One of the largest and most 24 years 21 cities experienced residential developers in Poland, in business since 2001 Gdynia Gdańsk presence on the with Murapol Group • The most geographically diversified Bydgoszcz Olsztyn residential market developments portfolio of devel
Slide 6: What sets us apart?
Confidential What sets us apart? 1 Proven stable sales results despite challenging macroeconomic conditions 2 Leading market position with highly supportive fundamentals 3 Unique and vertically integrated business model—high cashflow, low engagement of equity, optimal margins 4 High level of geograp
Slide 7: Two complementary segments
Confidential Two complementary segments PRS segment generating significant incremental cash in addition to core resi-for-sale business Sales in 2024 carried out in two operating segments: • Affordable product highly resilient to Affordable product macroeconomic fluctuations Resi-for-sale • Addressin
Slide 8: Product targeting the broadest group of customers
Confidential Product targeting the broadest group of customers Apartments in the affordable and affordable premium segments Structure of apartment sales by gross price (PLN ’000) Apartments priced below PLN 600,000 accounted for about 90% of total Murapol Group sales 35.0% 29.9% 17.6% 6.8% 6.0% 4.7%
Slide 9: Product line resilient to macro changes
Confidential Product line resilient to macro changes Split in mortgage vs. cash buyers against the background of sales volumes and handovers in the R4S segment 67% 64% 62% 52% 48% 38% 36% 33% 2,926 2,653 2,801 2,915 2,809 2,783 2,889 2,914 2021 2022 2023 2024 sales in the R4S segment mortgage transa
Slide 10: Similar, satisfactory margins in large urban areas and in regional cities
Confidential Similar, satisfactory margins in large urban areas and in regional cities • Similar percentage increase in average transaction prices in 2021–2024 in major urban areas (+31%) and regional cities (+30%) • Similar, satisfactory margins in major urban areas and in regional cities—in 2023–2
Slide 11: Examples of projects by the group
Confidential Examples of projects by the group A presence in all main urban areas Łódź Gdańsk Poznań Katowice Warszawa Kraków 11
Slide 12: Examples of projects by the group
Confidential Examples of projects by the group Attractive offer in regional cities Lublin Toruń Bydgoszcz Bielsko-Biała Chorzów Gliwice 12
Slide 13: Murapol 2024
Confidential Murapol 2024 13 Gdańsk
Slide 14: Residential developers' market in 2024
Confidential Residential developers’ market in 2024 • 2024 was marked by the pressure of uncertainty connected with Change in average monthly wages compared to inflation (CPI) government programs and high interest rates, which translated 20% rising consumer purchasing power into weakening of demand
Slide 15: Key events in 2024
Confidential Key events in 2024 Further growth in the scale of the business, and a strong offer 3,862 units 3,911 units Lublin, Kielce (+7.8% y/y) sold in 2024 (+3.7% y/y) Częstochowa (development and preliminary contracts added to the offer new markets in the R4S segment (R4S segment) and 948 units
Slide 16: 2024 in numbers
Confidential 2024 in numbers 2,915 units handed over to retail 2,914 development contracts and PLN 9,300 (+4,1% y/y) customers (+0,9% y/y) preliminary contracts (+8,1% y/y) average net price (+161 paid reservation per m2 of units sold agreements) PLN 1 330.2m PLN 348.5m PLN 242.0m net profit sales r
Slide 17: Sales of units in 2024
Confidential Sales of units in 2024 Comparable sales y/y despite uncertainty arising from the market environment • 2,914 units (vs. 2,889, +0.9%) were sold under development • The largest number of apartments in the R4S segment were contracts and preliminary sale contracts, and an additional sold in
Slide 18: Handovers of units in 2024
Confidential Handovers of units in 2024 Level of handovers in the retail segment tied to timetables for development projects • Growth in average price of delivered units at the end of 2024 of 11.1% 2,801 2,915 handovers in 2023 handovers in 2024 • Largest number of units handed over in 2024 to custo
Slide 19: Key financial data for 2024
Confidential Key financial data for 2024 9% growth in sales revenue year-on-year • Growth in the average price of units handed over in 2024 of 11.1% (to PLN 405,600 vs. PLN 365,100 in 2023) • Growth in revenue of 15.3% in the retail segment thanks to an increase in the number of units delivered and
Slide 20: Key financial data for 2024
Confidential Key financial data for 2024 1st margin (GM1)* EBIT Net profit (PLNm) (PLNm) (PLNm) +4% +10% +10% 472,2 490,0 29.4 18.0 266.2 293.6 219.2 242.0 R4S 442.8 +7% 472.0 PRS 2023 2024 2023 2024 2023 2024 1st margin R4S (GM1)* EBIT margin Net profit margin 43.0% 39.8% 21,9% 22,1% 18,0% 18,2% 20
Slide 21: Key financial data for 2024
Confidential Key financial data for 2024 1st margin (GM1)* Adjusted EBITDA** Net profit (PLNm) (PLNm) (PLNm) +4% +5% +10% 472,2 490,0 18.0 331.8 348.5 29.4 219.2 242.0 R4S 442.8 +7% 472.0 PRS 2023 2024 2023 2024 2023 2024 1st margin R4S (GM1)* Adjusted EBITDA margin Net profit margin 43.0% 39.8% 27,
Slide 22: Group's current financing structure
Confidential Group’s current financing structure • Safe net debt/adjusted EBITDA ratio (0.84 at the end of 2024) Cash position Debt (PLNm) (PLNm) 0,64 0,84 309,0 318,8 0,36 663,3 39.5 248,2 50.5 155.7 492,4 425,9 65.0 30.7 13.7 269.5 612.8 183.2 412.2 461.7 163.1 293.2 103.1 213.6 31.12.2022 1/1/22
Slide 23: Steadily growing operating scale
Confidential Steadily growing operating scale • The growth in debt following 2022, combined with the excess cash generated by the group’s operating business, was used mainly for building and renewing the landbank, as well as increasing the offer available to customers • After conducting the currentl
Slide 24: Record level of offer and strong landbank
Confidential Record level of offer and strong landbank • At the end of 4Q 2024 the Murapol offer included 4,618 units in 16 cities • Number of units under construction: 7,756 units in 28 projects in 14 cities • Active landbank for construction of over 19,300 units in 19 cities with a combined net ar
Slide 25: Units added to the offer in 2024
Confidential Units added to the offer in 2024 One of the biggest offers on the market: 4,618 units at the end of 4Q 2024 • In 2024, 3,911 residential units were added to the offer in 13 3,770 3,911 cities, including the new operating market of Lublin units introduced in units introduced in 2023 2024
Slide 26: Projects offered for sale in 2024
Confidential Projects offered for sale in 2024 • In 2024 Murapol added to the offer 3,911 new units • The units introduced into sales are being built in 13 cities, including both the largest residential markets in Poland, e.g. Poznań, Łódź, Wrocław and Gdańsk, but also in smaller cities such as Bydg
Slide 27: Projects under construction at the end of 4Q 2024
Confidential Projects under construction at the end of 4Q 2024 High number of units under construction • Record number of units under construction: 7,756 units with a • The most units are under construction in Gdańsk (2,132 units) and combined area of about 318,500 m2, in 101 buildings in Łódź (1,55
Slide 28: Projects in the pipeline at the end of 4Q 2024
Confidential Projects in the pipeline at the end of 4Q 2024 Attractive and highly diversified portfolio of pipeline projects • 13,229 units in the pipeline, with a combined area of nearly • Strong landbank in Warsaw, for 3,446 units, Poznań (1,472), Łódź (1,427) 572,000 m2, in 16 cities and Katowice
Slide 29: Summary 2024
Confidential Summary 2024 29 Łódź
Slide 30: Summary of 2024
Confidential Summary of 2024 1 Revenues exceeding PLN 1.3 billion (+9.4%). Growth in net profit to PLN 242 million (+10.4%) Combined sales of 3,862 units (2,914 units in the R4S segment, 948 units in the PRS segment)—growth year-on-year 2 despite the challenging market situation and decline in sales
Slide 31: Prospects for 2025
Confidential Prospects for 2025 Strong offer and effective business model 1 Sales in the retail segment of 3,100–3,300 units—an increase y/y of 6–13% 2 Handovers of c. 3,000 units, including c. 2,000 units to be handed over in 2H 2025 Maintaining dividend policy described in the Prospectus: earmarki
Slide 32: Thank you!
Confidential Thank you! Investor Relations contact: ir@murapol.pl Q3 2023 r. Q&A 32 Poznań
Slide 33: Appendices
Confidential Appendices 33 Bielsko-Biała
Slide 34: Profit and loss statement
Confidential Profit and loss statement PLN ’000 2024 2023 Change 1,330,214 1,215,944 +9% Sales revenue Revenue from sales to retail customers 1,185,741 1,028,787 +15% 144,473 187,157 -23% Revenue from sales to PRS Gross profit on sales 401,792 383,393 +5% 30.2% 31.5% -1.3 p.p. Gross margin on sales
Slide 35: Balance sheet
Confidential Balance sheet Assets 31.12.2024 31.12.2023 Liabilities 31.12.2024 31.12.2023 Equity attributable to Non-current assets 81,996 86,523 shareholders of the parent 603,999 557,960 company Current assets 2,078,689 1,773,292 Non-controlling interest - 1,425 Total assets 2,160,685 1,859,815 To
Slide 36: Projects under construction
Confidential Projects under construction • As of the end of 4Q 2024, the portfolio of projects under construction included 7,756 units with a combined usable floor area of 318,500 m2, arising in 101 buildings erected in 28 projects in 14 cities • In the R4S segment there are 6,115 units under constr
Slide 37: Projects under construction
Confidential Projects under construction No. of residential and UFA (residential and Location Project commercial units commercial, m2) Gdańsk Murapol Portovo (bud. 1) 384 11,885 Gdańsk Murapol Stoczniova (Bud. 3) 336 11,335 Gdynia Murapol Osiedle Dynamiq (bud. 1, 2, 3, 4) 228 10,409 Gliwice Murapol
Slide 38: Projects under construction
Confidential Projects under construction No. of residential and UFA (residential and Location Project commercial units commercial, m2) Łódź Murapol Agosto (bud. 1, 2, 3) 442 20,304 Łódź Murapol Osiedle Faktoria (bud. 1, 2) 269 9,868 Łódź Murapol Forum (bud. 1, 2) 514 21,809 Łódź Murapol Osiedle Filo
Slide 39: Projects under construction
Confidential Projects under construction No. of residential and UFA (residential and Location Project commercial units commercial, m2) Siewierz Murapol Siewierz Jeziorna (bud. 15 - 16) 60 3,023 Sosnowiec Murapol Apartamenty Na Wzgórzu IV (bud. 4, 5) 305 14,707 Toruń Murapol Aviator (bud. 1) 170 5,65
Slide 40: Projects in the pipeline
Confidential Projects in the pipeline • As of 31 December 2024, within the Murapol Group landbank, there was a portfolio of pipeline projects comprising about 13,200 units with a combined usable floor area of c. 572,000 m2, ensuring continuity of the group’s business for the next several years Locat
Slide 41: Unique, resilient business model
Confidential Unique, resilient business model Integrated business model Building Information Modelling Land acquisition BIM technology enables preparation of a precise bill of quantities, helping prevent • Effective land acquisition model • Payment of a large portion of the price deferred conceptual
Slide 42: Shareholders
Confidential Shareholders Shareholder No. of shares Capital AEREF V PL Inwestycje sp. z o.o. 27,760,000 68.0% 19.7% Nationale Nederlanden PTE 2,960,000 7.3% Other 68.0% AEREF V PL Inwestycje sp. z o.o. Hampont sp. z o.o. 2,040,000 5.0% Other 8,040,000 19.7% Total 40,800,000 100.0% 5.0% Hampont Sp. z
Slide 43: Organizational culture and corporate governance
Confidential Organizational culture and corporate governance Solid governance structure aimed at effective and sustainable growth in value Supportive shareholders and independent Experienced supervisory board decision-making • Highly experienced Supervisory Board with • Experienced stakeholders with
Slide 44: Ambitious plans of the ESG strategy
Confidential Ambitious plans of the ESG strategy Pillars of the ESG strategy Advanced preparations • Sustainable modern construction • Murapol has already completed drafting of • Responsible strategic partners strategic ESG analyses, including regulatory readiness, climate threats and opportunities,
Slide 45: Legal disclaimer
Confidential Legal disclaimer This presentation was prepared solely for informational purposes. It does not constitute an advertisement or offering of securities in public trading. Sources of information were used in the presentation which Murapol SA regards as reliable and precise, but there is no