83 slides from Poznanska Korporacja Budowlana Pekabex Sa's investor presentation, May 2021
Slide 1: Investor Presentation
= Pekabex Investor Presentation Warsaw, May 2021
Slide 2: No.1 PLN 931 m PLN 952 m
No.1 2,353 203,847 PLN 931 m PLN 952 m PLN 89 m PLN 58 m PLN 87 m PLN 105 m PLN 229 m
Slide 3: Mission and Vision
= Pekabex SAFE DEVELOPMENT MISSION We believe that prefabrication is the technology of the future in construction VISION We want to be top 5 in Europe to create new trends and build ecological, effective and beautiful buildings
Slide 4: Why Pekabex?
Good time, good place - aligned to the strategic construction market trends (time, labour, ecology) Comprehensive offer (three business lines) - product and service innovation Stability through product, geographic and market diversification Clearly defined development strategy Why Pekabex? / : : Str
Slide 5: History
History Powerful transformation into the market leader 2020 2019 1972 = Pekabex First foreign acquisition of the Pekabex Group (FTO Fertigteilwerk Obermain GmbH) Total production volume generated by 5 production plants in 2020 amounted to record 203.8 thousand. (m3) New, 5th plant in Gdarisk, Poland
Slide 6: Why Pekabex?
Why Pekabex? www. pekabex.pl
Slide 7: - net growth
- net growth +0,5 +1,2 +0,7 +0,3 +0,6 +1,5 +0,3 +0,5 +0,3 +0,3 +0,2 +0,3 +1,9 +3,0 +2,2 +2,3 +1,3 +1,1
Slide 8: Jan-11 Jan-12 Jan-13
58*** 30 10 -10 -30 -50 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 sty 20 sty 21
Slide 9: Comprehensive offer (three business lines)
Comprehensive offer (three business lines) - product and service innovation Why Pekabex? www. pekabex.pl
Slide 10: The Group's three business lines
The Group's three business lines Comprehensive offer and competitive edge Three business lines of Pekabex Group: production of prefabricated elements, construction services and development projects complement each other and create a significant competitive advantage enabling Pekabex to offer complex
Slide 11: The Group's Three Business Lines
The Group's Three Business Lines = Pekabex Optimal possibility to taking advantage of economic situation Prefabrication Complex offer (including designing, production, transport, assembly) Customisation of provided offers Group offers wide range of services including both delivery only and complex r
Slide 12: Prefabrication: strategically located plants
Prefabrication = Pekabex 6 strategically located plants guaranteeing customer satisfaction + 45000 m3p.a-structural + 18000mp.a.-structural 45000 m?p.a.-structural - 45000m*p.a.-structural + 300000 m2p.a.-filigree - 30000 m3p.a.- structural elements elements elements elements slabs/ doublefi element
Slide 13: Products (by Type of Elements)
Products (by Type of Elements) Prefabrication is the practice of assembling components of a structure in a factory and transporting all assemblies to the construction site Pekabex produces traditional reinforced elements, as well as modern prestressed parts Reinforced and prestressed elements are ap
Slide 14: No scaffolding at the construction site (ready-made facade out of factory) No need for
No scaffolding at the construction site (ready-made facade out of factory) No need for cutting into walls (fixtures installed before pouring concrete) No need for plastering (high surface accuracy) Immediate finishing work possible inside the object even in winter (rooms are closed and can b
Slide 15: Why Prefabrication?
Why Prefabication? = Pekabex Many benefits of applying prefabriction in housing market Production of prefabricated elements Prefabication in housing market High quality - increased control of production conditions No need for plastering (high surface accuracy) Durability - outsdanding performance in
Slide 16: Used Resources and Environmental Protection
Used Resources and Rnvironmental Protection Pekabex is aware of a huge role of natural environment for every human being and future generations Management is committed to environmental protection and is taking steps to implement greener solutions Pekabex has implemented the Enviroment Protection Pol
Slide 17: Pekabex controls waste at the assembly stage - even 100% of the materials
Pekabex controls waste at the assembly stage - even 100% of the materials used can be reused 90% of the steel purchased by the Group is obtained from processed material - only 10% comes from iron ores In 2020, Pekabex did not pay any significant fines and did not receive any significant non-fi
Slide 18: State of the art facility
• State of the art, one the most modern and sophisticated facilities in Europe • Fully automated lines, resulting in minimum laboru requirements (12 workers per shift) • Production of filigree panels, double filigree walls and insulated walls, as well as solid walls • Capacity of 500,000 m2 of eleme
Slide 19: In 2011-2020 Prefabex has delivered prefabricated structures to more than 1400 objects in
In 2011-2020 Prefabex has delivered prefabricated structures to more than 1400 objects in Poland and abroad Pekabex Group is experienced and leading entity on Polish market
Slide 20: E-commerce driving warehouse demand
Pandemic has accelerated the development of the e-commerce sector, which multiplied the demand for warehouse and storage space. Pekabex is meeting this demand and in the area of general contracting the Group cooperates with largest international logistic in Poland (Panattoni, MLP, Prologis).
Slide 21: Roof beams for halls
• increased roof load capacity (reserve for PV installation) • picking zones undisturbed by columns • unlimited storage spaces / increased storage high • increased fireproof (REI) until 240 min. • lower maintenance costs and operating costs modern warehouse and logistics halls flexible and tailore
Slide 22: Pekabex System for residential buildings
Why the Pekabex System for residential buildings: increase the usable floor area of the apartment (up to 7%) shorter construction time, even by 50% no need for plastering Pekabex's capacity share in the number of residential apartments
Slide 23: Construction services
Comprehensive offer Complex investments „under a new” Investments in the field of residential, commercial and industrial facilities with the use of modern technologies. The Group implements development projects in the general contracting formula and also builds apartments under the „Mieszkan
Slide 24: Prefabrication potential in residential sector
Pekabex recognizes vast potential for prefabrication technology in residential sector and The average construction time of a residential building by the developer is currently intends to intensify its activities in this area. Demand for modular prefabricated approx. 20 months*, buildings in pref
Slide 25: Development Projects in 2021
Development Projects in 2021 = Pekabex Development projects gaining momentum Development projects - residentials RFA pes. 5900 110 Jasielska 2: project completed, all apartments sold; 1761 2 Osiedlowa 43: project completed, 11 houses from 12 sold; 3100 40 CasaFiore: building permit expected Q2 2021,
Slide 26: Future Development Projects
Future Development Projects = Pekabex Significant number of projects in preparation for the following years Future development projects - residentials RFA pcs. Poznan 3: preliminary contract concluded, currently at the fr 6500 110 design stage; Czestochowa: in Q2 2021 JV agreement will be signed (la
Slide 27: Development Projects Overview
Development Projects Overview = Pekabex 2018 2019 2020 2021 2022 Residential floor area (in m*)* 1416 3190 5014 13276 23 490 Total residential floor area (in m2) 23.490 13276 ‘excluding usable areas of hal leases 2021 2022
Slide 28: Project management addressed to final customer Ability to complete more complex projects
Project management addressed to final customer Ability to complete more complex projects with potentially higher margins Housing estate in prefabrication (modular building) technology Implementation of products demanding high workload and innovation, more complex products, as well as product
Slide 29: Stability through diversification
Stability through product, geographic and market diversification Why Pekabex? www.pekabex.pl
Slide 30: Well Located Plants
Well Located Plants = Pekabex 6 strategically located plants guaranteeing customer satisfaction Optimal location of prefabrication plants (in the west, north, central and south of Poland) } Pomnas | facilitate access to the clients and to the raw CENTRAL materials Pekabex plants are modernly equippe
Slide 31: Markets: Poland, Sweden, Germany
• Scandinavian market remains open for manufacturers of prefabricated elements from CEE and Baltic countries • Germany market with significant use of prefabricated reinforced and prestressed concrete elements * company’s estimates • Poland is a main market for Pekabex, and was responsible for 78% of
Slide 32: Clearly defined development strategy
Clearly defined development strategy Why Pekabex? www.pekabex.pl
Slide 33: Development strategy
• Development of product and services offer in “design and build” formula • Complex offer – three business lines: prefabricaton (designing, production, transport, assembly), general contracting, development • Creating a Pekabex residential, hall and parking systems • Realization of development proje
Slide 34: Acquisition synergies
Cost synergies (mostly connected with administration, logistic and materials purchase costs) Obtaining well-qualified specialists Cost of transport optimalization Economies of scale Gaining market share Increased production capacity in strategic region allows to reduce costs of logistic
Slide 35: Strong financial position
Why Pekabex? www. pekabex.pl Strong financial position and conservative financial policy
Slide 36: Strong Balance Sheet & Financial Stability
Strong Balance Sheet & Financial Stability Stable and safe level of financial leverage Fixed assets 420.445 338 184 246140 244181 259590 7 a 7 2015 2016 2017 2018 2019 2020 Equity 361721 309270 285.359 237570 212222 179158 7 2015 2016 2017 2018 2019 2020 Inthous. PLN 31.12.2020 31.12.2019 Change% 31
Slide 37: Steady and continuous growth
Strong Balance Sheet & Financial Stability = Pekabex Steady and continuous growth Volume of production in 2003-2020 ('000 m?) Revenues (M PLN) 623 505 o 318 328 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 «-2012,—=Ss«2013,—s«2014—Ss2015.— «2016. ~=S
Slide 38: Revenue growth and stable margins
Strong Balance Sheet & Financial Stability Revenue growth and stable margins Revenues (in thous. PLN), gross margin 952327 886 3: EBITDA (in thous. PLN), EBITDA margin« 89454 81901 55449 2018 2019 2020 EBIT (in thous. PLN), EBIT margins * 67 473 69455 39 396 5% 2018 2019 2020 Net Income (in thous. P
Slide 39: Well diversified revenue sources
Strong Balance Sheet & Financial Stability Well diversified revenue sources Revenues structure in 2020 by segments Segment profit in 2020 by segments rent __ others development3,1%_—_ rent services0,2% devegment 1% 1% production other 0,4% - services 3,4% production services 3% construction Prefabri
Slide 40: Selected Financial Data by Segments
Selected Financial Data by Segments Stable margins in most important segments Prefabrication contracts* - segment profit (in thous. PLN) and margin PLN) and margin Construction services - segment profit (in thous. 7% 9,2% 6% 1,6% a 6% Pn B 2017 2018 2019 2020 2017 2018 2019 2020 Developments - segme
Slide 41: Stable and safe level of financial leverage
Strong Balance Sheet & Financial Stability Stable and safe level of financial leverage Long term and current financial liabilities ‘m= long-term financial liabilities = current financial liabilities 191 346% 136 538 90 339 62 250 2017 2018 2019 2020 Net debt 86549 46531 29966 ~4895 i 2017 2018 2019
Slide 42: Working capital and inventory
Strong Balance Sheet & Financial Stability = Pekabex Stable and safe level of financial leverage Trade receivables Working capital« o54026 228643 aaa 238612 173608 158351 172592 141701 101267 Working capital 69696 73067 an A eal i 73176 >» Positive working capital is a sort of || || a “financial sec
Slide 43: CAPEX to expand growth potential
Strong Balance Sheet & Financial Stability CAPEX to expand growth potential CAPEX policy: = Investments that are related to automation and computerization = Improving production capacity and efficiency (new investments with the required rate of return of 20% - target: 30%) = Improving the quality of
Slide 44: Backlog
› › › Pekabex Group systematically builds strong and well-diversified backlog, which will fill the production in following years. It contains aggregated value of signed contracts, which are/will be realized, and revenues will be recorded after the balance sheet date. Value of contracts to be rea
Slide 45: Stock market and ratios
Strong balance sheet & financial stability = Pekabex Stock market and ratios Dividends * Dividend payout corresponds to the generated profit and the Group’s financial situation and capital Gea year 2014 2015 2016 2017 2018 2019 2020+ Dividend date 2015 2016 2017 2018 2019 2020 2021 Dividend per shar
Slide 46: Why Pekabex?
Why Pekabex? www. pekabex.pl
Slide 47: Well-qualified and experienced team
• Experienced design team - own • Know-how in difficult and • Construction of exceptional design department; 150 challenging projects elements like 43,5m girders, 120 engineers; most advanced • Olivia Star - highest T bridge beams design technologies (BIM) prefabricated building in Poland • establis
Slide 48: Appendix
Pekabex Appendix ®
Slide 49: Group Structure
Group and Shareholder Structure High transparency of the company’s structure Group structure = Pekabex Pekabex S.A. (Holding) | Pekabex Bet S.A. (100%) Realization of contracts (financing, coordination and production) Pekabex Pref S.A. (100%) Production, design, accounting, administrative and logist
Slide 50: Shareholder Structure
Group and Shareholder Structure High transparency of the company’s structure Shareholder structure = Pekabex Total number of shares: 24 826 512 free float 35,0% STE sp z.0.0.39,4% Nationale Nederlanden5,5%. Fernik Holdings Cantorelle Limited Limited 8,2% 11,9% Number of votes at the General Meeting
Slide 51: Management
Management Experience, knowledge and reliability = Pekabex Robert Jedrzejowski President of the Board of Pekabex S.A. He is a graduate of University of Maria Sklodowska- Curie in Lublin as a M.Sc. of law. Since 1994 he has a licence of stockbroker and since 2011 alicenceof syndic. He has many years
Slide 52: Management
Management Experience, knowledge and reliability Christophe Carion President of the Board of CNP Sp. z0.0. Graduate of De Nayer Instituut (Belgium). In 2000 he has finished the studies as Master of Science Building Engineering. He started his career as a project engineer in Ergon NV, Belgiumin years
Slide 53: Management
Management Experience, knowledge and reliability Leszek Legat Member of the Board of Kokoszki Prefabrykacja S.A. Graduate of the Gdarisk University of Technology at the Faculty of General Construction in the field of Technology and Organization in Construction. In the years 2006-2009 he worked at th
Slide 54: Selected Development Projects 2020
= Pekabex Selected Development Projects 2020
Slide 55: Jasielska 2 residential project
The contract includes 4 residential buildings (110 apartments). For day of the publication of this presentation all of appartments are already sold out (a developer agreement has been signed or apartments reserved). On August 3, 2020 the investment obtained permit for use. The contract was realized
Slide 56: Józefosław terraced houses
On October 29, 2019, the company Pekabex Development purchased for PLN 2,370 thous. plot in Józefosław in connection with the planned implementation of another pilot project, consisting in the construction of 12 terraced houses. On December 16, 2019, a building permit was issued. For day of the publ
Slide 57: Warsaw apartments project
On June 3, 2020, the Group acquired a plot of land for another development investment in Warsaw. Design works and preparation of the investment for sale are currently in progress. The Group estimates that as part of the investment, 40 independent apartments with a garden will be built (over 3,000 m2
Slide 58: Mechelinki investment with Origin
On June 29, 2020, Pekabex S.A. and Pekabex Development Sp. z o.o. concluded with Origin Investments Sp. z o.o. and Origin Gdynia 1 Sp. z o.o. ("Origin") an investment agreement for the joint implementation of the investment in Mechelinki consisting in the construction of the Origin health complex co
Slide 59: Selected realized contracts
= Pekabex Selected realized contracts Diversity
Slide 60: Odense hospital contract
In August 2019 Pekabex signed a construction contract regarding designing, production, transport and assembly of precast structures for the hospital in Odense (DP03 building). In mid-October 2019 Pekabex initiated the assembly of prefabricated structure (14 000 m3 in total). In April 2020, Pekabex s
Slide 61: Production and storage hall
Construction contains production and storage hall – total area ca. 27 000 m2. Contract was finished and protocol was signed in June 2019.
Slide 62: Production and storage halls
Construction contains 2 production and storage halls – total area ca. 38 000 m2.
Slide 63: Warehouse and logistics buildings
The scope of work includes the construction of 3 warehouse and logistics buildings with a total area of approx. 38 thous. m2. including associated infrastructure.
Slide 64: Production and storage halls
Construction contains 2 production and storage halls – total area ca. 13 100 m2.
Slide 65: Warehouse contract
Construction contains warehouse – total area ca. 10 400 m2 (halls: 10 400 m2, office building 600 m2). Prefabrication contains of 423 elements (docks, columns, girders, HC slabs, roof beams). The contract is realized by general contracting department.
Slide 66: Warehouse with office facility
Construction contains warehouse with walefare and office facility. Total area – almost 11 400 m2.
Slide 67: Parking hall in Poznań
Construction contains parking hall in Naramowice district, Poznań. Prefabrication contains 611 elements (columns, HC slabs, TT plates, slab walls, beams). The contract was realized by general contracting department. On November 16, 2020, the construction obtained fault-free final acceptance report.
Slide 68: Buildings with foundations
Construction contains 4 buildings: 5.936 m2 and other necessary technical infrastructure (total area 52 000 m2). 250 foundations were delivered as prefabricated elements. The contract is realized by general contracting department
Slide 69: Office complex with 180m building
The contracts concern the construction of a complex of 8 office buildings (ca. 150,000 m2). Complex include the highest (180m) prefabricated office building in Poland.
Slide 70: Production and storage warehouse
Contract contains the construction of 2 production and storage warehouse – total area ca. 13 100 m2.
Slide 71: Warehouses with office facilities
Construction contains 3 warehouses with welfare and office facilities (11 700 m2) and other necessary technical infrastructure (total area 42 000 m2)
Slide 72: Office building
Construction contains office building – total floor area 2 800 m2. Total number of elements – 600 pieces End date: August 2019
Slide 73: Wrocław and Poznań office complexes
Wrocław: contract included construction of a complex of office buildings. As part of the project, Pekabex carried out assembly on five 6-storey buildings and one 14-story building, providing ca. 14 thousand prefabricated elements. Poznań: contract included construction of 5 office buildings and a ca
Slide 74: Storage hall and parking
The contract includes two independent investment tasks: a storege hall and a two-level parking. Total building area approx. 38 thousand m2.
Slide 75: Car battery factory buildings
The contract included 2 production buildings of a car battery factory with a total floor area of 57,3 thous. m2.
Slide 76: Production and warehouse facility
The construction includes a production and warehouse facility with a social and office building, a security building with an internal road system, a car park and the necessary technical infrastructure. The area of the hall being built is almost 7,3 thous. m2, office building 1,2 thousand m2, total s
Slide 77: Malmo office building
It is a 6-storey office building located in the city center of Malmo.
Slide 78: Largest contract in Sweden
Largest contract realized in Sweden started in June 2017. Housing area consisting of 370 apartments in 19 buildings (41 200 m2). Over 8 500 elements to be installed.
Slide 79: Apartment complex
Construction contains apartament complex – area 13 000 m2. Over 2 394 elements to be installed.
Slide 80: Apartment complex
Construction contains apartament complex – area 10 400 m2. Over 2 449 elements to be installed.
Slide 81: Göteborg hospital
Construction contains building of hospital in Göteborg.
Slide 82: Residential complex
Construction contains residential complex (66 apartaments) – area 5 200 m2. 2 266 prefabricated elements to be installed.
Slide 83: Thank You
= Pekabex THANK YOU