Slide 1: 9M 2022 Results
1 April — 31 December 2022 Presentation 9M 2022 Results 15 February 2023 Zeta Valley (Málaga) AEDAS Homes 9M 2022 Results 1
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
Caelia (Móstoles, Madrid) 01 Highlights AEDAS Homes 9M 2022 Results 3
Slide 4: Overview
Overview Resilient demand for AEDAS product 1 • Absorption rates at healthy levels • High visibility on business performance backed by strong coverage ratios Selective approach to land investment 2 • Selective approach targeting very resilient segment • Focusing on purchase options and/or deferred p
Slide 5: Executive Summary 9M 2022
Guiomar (Bormujos, Sevilla) Executive Summary 9M 2022 Sales Operations 1 2 • Very high sales coverage level: • 10,115 units on the market 98% of FY 2022, 70% of FY 2023 (up 30% vs 9M 2021) and 25% of FY 2024 deliveries • c. 2,100 units with Final guaranteed Construction Certificate as of Dec • Order
Slide 6: Business Update
Fioresta (San Juan Soul de Marbella Alicante) 02 Business Update AEDAS Homes 9M 2022 Results 6
Slide 7: Healthy, resilient Order Book
Healthy, resilient Order Book SALES Resilient demand for AEDAS Homes product • BTS positioning in high tickets: 1,500+ units Units (#) ASP (€k) Order Book (€M) sold over the reporting period with ASP of €390k, up 15% vs. same period in 2021 BTS 3.856 355 1.368 +13% +3% +16% • Focusing on most resili
Slide 8: Sales absorption rate
As of 31 December 2022 Sales absorption rate Average quarterly sales absorption rate (BTS) (net sales / available product, rolling quarterly average) 9% 8% 6% Average over the 5% period: 5.6% 3% Long-term stabilised level: 3.5% - 4.0% 2% 0% Sales absorption rate trending towards stabilisation (Q3 20
Slide 9: Strong coverage levels on Business Plan goals
BTS + BTR as of 31 December 2022 Strong coverage levels on Business Plan goals: targeting revenues of €900m-€925m in FY 2022 and €1 bn - €1.15bn in FY 2023 On the market Sales Construction 18% 39% 94% 100% 100% 98% 90% 70% 82% 1 40% 25% 6% FY2022 FY2023 FY2024 FY2022 FY2023 FY2024 FY2022 FY2023 FY20
Slide 10: Land investment: selective focus, prioritising optionality
Land investment: selective focus, prioritising optionality North Current land bank ensures deliveries through FY 2026 1,062 units 6% Catalonia & Aragon 2,658 units 15% €80m in purchase options for 682 units €93m Madrid 4,240 units invested in 886 units 25% of RTB land East & Mallorca Andalusia & Can
Slide 11: 9M 2022 Financial Results
03 9M 2022 Financial Results Odina (Godella, Valencia) AEDAS Homes 9M 2022 Results 11
Slide 12: 9M 2022 Results
9M 2022 Results Revenue and Gross Margin Breakdown by Product Type BTS Metric 9M 2022 9M 2021 Δ product: Revenues (€m) 301 387 (22.1%) operating Total margins in Gross margin (€m) 87 1 115 (24.4%) the high revenues: • Upward trend in ASP maintained: range; margin (%) 28.8% 29.7% (88) bp €358m price
Slide 13: Balance sheet at 31 December 2022
Balance sheet at 31 December 2022 31 December 31 March 31 December • Increase in inventories due to the 2022 2022 2021 advanced levels of progress on construction sites, with 4,400+ Inventories4 €1,831m €1,520m €1,622m units under construction • Land €628m €644m €666m • Works in progress €1,011m €67
Slide 14: Evolution of net financial debt
Evolution of net financial debt 31 December 31 March 31 December (€m) 2022 2022 2021 (A) Project debt (secured) 271.3 106.3 175.5 • Stability in volume of Working Capital (B) Project debt (unsecured) 36.2 - - • Financing structure with (C) Corporate debt 381.2 363.1 381.1 long-term debt (93%) and fi
Slide 15: Financial leverage
Financial leverage 31 December 31 March 31 December AEDAS Homes 2022 2022 2021 LTC1 32.0% 18.0% 28.7% LTV2 25.4% 13.2% 23.2% • Leverage in line with Net financial debt / EBITDA 5.2x 1.8x 2.9x seasonality of business Interest coverage 5.8x 7.5x 8.4x (concentration of Average cost of debt 4.43% 3.61%
Slide 16: Takeaways
Delli (El Masnou, Barcelona) 04 Takeaways AEDAS Homes 9M 2022 Results 16
Slide 17: 9M 2022 Takeaways
Cupre (Pozuelo de Alarcón, Madrid) 9M 2022 Takeaways Despite the uncertainty of the current economic 1 situation, operating activity is evolving favourably, with solid visibility goals through FY 2024 Good levels of progress on construction works, with 2 virtually all FY 2022 deliveries sold Demand
Slide 18: Appendix
Lerena (Alicante) 05 Appendix AEDAS Homes 9M 2022 Results 18
Slide 19: 10,115 units on the market
As of 31 December 2022 10,115 units on the market1 Starting point 6,496 units 3,026 units 13,585 units 10,115 units Accumulated launches Accumulated deliveries Launches Units on the market through March 2022 through December 2022 9M 2022 as of 31 December 2022 (1) “Units on the market” includes all
Slide 20: Order Book: 4,929 units (€1,565m)
As of 31 December 2022 Order Book: 4,929 units (€1,565m) Starting point €2,188m 6,496 units 3,856 units BTS €337K/unit (ASP: €355K) €3,129m 1,073 units BTR 9,722 units (ASP: €184K) €322K/unit €624m 1,703 units €366K/unit €1,565m 4,929 units €318K/unit Accumulated sales Accumulated deliveries Sales 9
Slide 21: Construction and permitting
As of 31 December 2022 Construction and permitting Units under construction (BTR+BTS) 1,555 units 2,455 units 5,337 units1 4,437 units As of 31 March 2022 Broke ground 9M 2022 Completed units 9M 2022 Under construction as of 31 December 2022 Building permits in hand, pending construction start (BTS+
Slide 22: Regional breakdown
As of 31 December 2022 Regional breakdown On the market1 Permits granted in 9M 2022 Order Book North North 931 units North 400 units 9% Andalusia & 8% 177 units Madrid Canary Islands Andalusia & 8% Madrid 2,485 units 681 units Andalusia & Canary Islands 553 units 14% Madrid Canary Islands 25% 247 un
Slide 23: Active Units and Construction Permit Request Status
As of 31 December 2022 Active Units and Construction Permit Request Status Active units1 Permit request status Finished product pending delivery Design phase 2,098 units >12 months 2,998 units 16% <4months 606 units 23% 795 units 18% 23% 13,1132 3,398 active units units 5-8 months 9-12 months3 Marke
Slide 24: 9M 2022 Results
9M 2022 Results FY 2022E 9M 2022 9M 2021 ASP Sales €366k €337k ASP Deliveries €330k €314k Units delivered 2,600 1,029 1,285 Net revenues €358m €405m • ASP is up: +9% (blended • Units delivered €900m ~ €340m €404m sales) and +5% (blended €14m - deliveries) • Land sales €925m €4m €1m • Services • Gros
Slide 25: Corporate Calendar
Nerium (Godella, Valencia) As of 31 December 2022 Corporate Calendar 31 May FY 2022 Confirmed 2023 Results 20 July Annual General TBC 2023 Meeting 21 July Q1 2023 TBC 2023 Results 30 November H1 2023 TBC 2023 Results AEDAS Homes 9M 2022 Results 25 25
Slide 26: Back cover
Silgar (Sanxenxo, Pontevedra, Galicia) Back cover AEDAS Homes 9M 2022 Results 26