Slide 1: Grupa Murapol – Presentation of results for the 1st quarter of 2024
Confidential Grupa Murapol Presentation of results for the 1st quarter of 2024 Q3 2023 r. 1 22 May 2024
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: About the Group
Confidential About the Group 3 Kraków
Slide 4: Grupa Murapol
Confidential Grupa Murapol • One of the largest and most 23 years 21cities experienced residential developers in Poland, in business since 2001 Gdynia Gdańsk presence on the footprint* • The most geographically diversified Bydgoszcz Olsztyn residential market portfolio of development projects in Szc
Slide 5: What sets us apart?
Confidential What sets us apart? 1 Proven stable sales results in the last 3 years despite challenging macroeconomic conditions 2 Leading market position with highly supportive fundamentals 3 Unique and vertically integrated business model – high cash flow, low engagement of equity, optimal margins
Slide 6: 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 7: Two complementary segments
Confidential Two complementary segments PRS segment generating significant incremental cash in addition to core resi-for-sale business • Affordable product highly resilient to Affordable product macroeconomic fluctuations Resi-for-sale • Addressing the broadest spectrum of customers Attractive locat
Slide 8: Product aimed at the broadest customer base
Confidential Product aimed at the broadest customer base Apartments in the affordable and affordable premium segments Sales structure by apartment price (PLN ’000) Apartments priced below PLN 500K accounted for almost 74% of Murapol Group’s total sales 26,1% 21,6% 17,8% 14,4% 13,4% 4,8% 1,9% Poznań
Slide 9: Examples of the group’s developments
Confidential Examples of the group’s developments Affordable and affordable premium segments Łódź Gdańsk Gdańsk Bielsko-Biała Poznań Gliwice 9
Slide 10: Murapol 1Q 2024
Confidential Murapol 1Q 2024 10 Gdańsk
Slide 11: Market situation in the residential development sector in 1Q 2024
Confidential Market situation in the residential development sector in 1Q 2024 Continuing strong demand for apartments Change in average salary vs. inflation (CPI) 20% consumers’ growing purchasing power • Structural housing deficit and encouraging 15% macroeconomic conditions: 10% • Real wage growt
Slide 12: Key events in 1Q 2024
Confidential Key events in 1Q 2024 Further growth in operating sale, and a strong product line 4,714 units 1,893 units Lublin (+106.6% y/y) (+433.2% y/y) on offer at the end added to offering entry onto a new of March (R4S segment) market Poznań 12
Slide 13: 1Q 2024 in numbers
Confidential 1Q 2024 in numbers Results in line with projections and implementation of projects 752 units handed over to retail 912 units sold to retail customers* PLN 9,500 (-30.4% y/y) customers (+5.8% y/y) (+20.5% y/y) average net price per m2 of units sold PLN 327.2m PLN 86.7m PLN 61.1m net prof
Slide 14: Product line resilient to macro changes
Confidential Product line resilient to macro changes Stable sales despite changes in the structure of customer financing • Increased share of cash customers to 45%, vs. an average of 36% in FY 2023 Split of mortgage vs cash customers Sales structure* 67% 64% Major urban areas Regional cities 62% 55%
Slide 15: Sales of apartments in 1Q 2024
Confidential Sales of apartments in 1Q 2024 Growth in sales despite ending of the Safe Credit 2% programme • The Group generated total sales in 1Q 2024 of 912 units (+5.8%) • Increase in average price of units sold in of 10.5% • 769 units were sold under development and preliminary • The most apartm
Slide 16: Handovers in 1Q 2024
Confidential Handovers in 1Q 2024 Lower level of handovers in the retail segment linked with timetable of development projects Level of handovers in line with expectations and project 752 • timetables 1,081 handovers in 1Q 2023 handovers in 1Q 2024 • Increase in average price of unit handed over in
Slide 17: Key financial data for 1Q 2024
Confidential Key financial data for 1Q 2024 Decline in sales revenue due to lower level of handovers • Growth in the average price of a unit handed over in 1Q 2024 to PLN 391k (vs PLN 346k in 1Q 2023) • Decline of revenue by 21.3% in the retail segment connected with the lower number of handovers (b
Slide 18: Key financial data for 1Q 2024
Confidential Key financial data for 1Q 2024 Results y/y impacted by lower level of handovers in 1Q2024 vs. 1Q2023 1st margin (GM1)* EBIT Net profit (PLNm) (PLNm) (PLNm) -30% -39% -39% 180.4 121,8 100,8 125.6 R4S 74,3 61,1 7,6 5,0 PRS 172,8 120,6 1Q 2023 1Q 2024 1Q 2023 1Q 2024 1Q 2023 1Q 2024 1st ma
Slide 19: Group’s current financing structure
Confidential Group’s current financing structure • Signing in December 2023 of an annex to the credit agreement increasing the facility by about PLN 70m, to a total commitment by the banks of PLN 550m – in effect recovering the amortized portion of the credit (funds released in January 2024) • Safe
Slide 20: Record number of units offered, and a strong landbank
Confidential Record number of units offered, and a strong landbank • Efficient sales launch of new projects enabling maintenance of an attractive offer for customers • Effective renewal of the landbank as a foundation for further growth: active landbank with a capacity for construction of nearly 20,
Slide 21: Units added to the product line in 1Q 2024
Confidential Units added to the product line in 1Q 2024 One of the biggest offers on the market: 4,714 units at the end of 1Q 2024 In 1Q 2024 the Murapol Group added 1,893 residential 355 1,893 • units (+433.2% y/y) to its offer in 6 cities, including a new operating market, Lublin units added in 1Q
Slide 22: Projects under construction
Confidential Projects under construction Record number of units being built • A record number of units under construction: over 7,000 units • Additionally, as of the end of 1Q 2024, projects under construction had with a combined area of c. 293,000 m2, at 25 projects in 13 obtained occupancy permits
Slide 23: Projects in the pipeline
Confidential Projects in the pipeline Attractive and well-diversified portfolio of projects in preparation • 14,453 units in the pipeline, with a combined area of c. • Strong landbank in Warsaw (for 2,938 units), Łódź (2,639), Gdańsk (1,871) 618,000 m2, at 41 projects in 14 cities and Katowice (1,72
Slide 24: Summary
Confidential Summary 24 Łódź
Slide 25: Summary 1Q 2024
Confidential Summary 1Q 2024 1 Level of handovers: 752 units; growth in the average price of handed-over units of 13.0% 2 Revenue exceeding PLN 327m 3 Growth in sales to 912 units; growth in average sale price of a unit of 10.5% 4 Most diversified offer on the market, including 4,714 units as of the
Slide 26: Thank you!
Confidential Thank you! Investor Relations contact: ir@murapol.pl Q3 2023 r. Q&A 26 Gdańsk
Slide 27: Appendices
Confidential Appendices 27 Bielsko-Biała
Slide 28: “Credit to Start” – key guidelines
Confidential “Credit to Start” – key guidelines Potential for further growth in demand after launch of the programme • Support targeted to people who can’t afford credit in a high- • Programme without limit on apartment size, but with subsidy interest-rate environment limit, i.e. the state will subs
Slide 29: “Credit to Start” – rules and eligibility criteria
Confidential “Credit to Start” – rules and eligibility criteria Main rules and criteria for “Credit to Start” depending on household size • The amount of the interest rate subsidies will depend on interest rate on mortgage loan the number of children in the borrower’s household, from 1.5% for househ
Slide 30: Profit and loss statement
Confidential Profit and loss statement 1Q 2024 1Q 2023 Change 327,233 434,750 -24.7% Sales revenue Revenue from contracts for sale of apartments to retail customers 295,720 375,531 -21.3% 31,513 59,219 -46.8% Revenue from sales to PRS Gross profit on sales 102,057 148,427 -31.2% 31.19% 34.14% -2.95
Slide 31: Balance sheet
Confidential Balance sheet Liabilities and shareholders’ Assets 31.03.2024 31.12.2023 31.03.2024 31.12.2023 equity Equity attributable to Non-current assets 85,629 86,253 shareholders of the parent 619,677 557,960 company Current assets 1,969,110 1,773,292 Non-controlling interest 1,452 1,425 Total
Slide 32: Projects under construction
Confidential Projects under construction • As of the end of 1Q 2024, the portfolio of projects under construction included 7,005 units with a combined usable floor area of over 293,000 m2, arising in 77 buildings erected within 33 project phases in 13 cities • The most new apartments are under const
Slide 33: Projects under construction
Confidential Projects under construction No. of residential and Location Project UFA commercial units Kraków Czerwone Maki (bldg 1) [PRS] 404 12,115 Kraków Murapol Mateczniq (bldg 1, 2, 3) 187 8,109 Kraków Lipska (bldg 1, 2) [PRS] 249 7,185 Kraków Okulickiego (bldg 1) [PRS] 444 13,283 Katowice Sikor
Slide 34: Projects under construction
Confidential Projects under construction No. of residential and Location Project UFA commercial units Siewierz Murapol Siewierz Jeziorna (bldg 13, 14) 84 4,219 Siewierz Murapol Siewierz Jeziorna (bldg 15–18) 115 5,784 Sosnowiec Murapol Apartamenty Na Wzgórzu III (bldg 3) 121 5,763 Sosnowiec Murapol
Slide 35: Projects in the pipeline
Confidential Projects in the pipeline • As of 31 March 2024, within the Murapol Group’s landbank, there was a portfolio of projects in the pipeline comprising about 14,500 units for a combined usable floor area of over 618,200 m2, ensuring business continuity for the next several years Location Plan
Slide 36: Shareholders
Confidential Shareholders 19.7% Other 68.0% AEREF V PL Inwestycje sp. z o.o. Shareholder No. of shares Capital AEREF V PL Inwestycje sp. z o.o. 27,760,000 68.0% Nationale Nederlanden PTE 2,960,000 7.3% 5.0% Hampont Hampont sp. z o.o. 2,040,000 5.0% Sp. z o.o. Other 8,040,000 19.7% 7.3% Nationale Tot
Slide 37: 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 38: 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 39: 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