Dimand Societe Anonyme Development & Exploitation Of Real Estate & Constructions Services & Holding · ATHEX:DIMAND
Dimand Societe Anonyme Development & Exploitation Of Real Estate & Constructions Services & — DIMAND Real Estate Development — Investor Presentation (June 2023)
29 slides from Dimand Societe Anonyme Development & Exploitation Of Real Estate & Constructions Services &'s investor presentation, June 2023
Slide 1: DIMAND Real Estate Development S.A. Corporate Presentation
- STRICTLY PRIVATE & CONFIDENTIAL - DIMAND Real Estate Development S.A. Corporate Presentation Athens | June 2023
Slide 2: Table of contents
Table of contents Company Overview 3 Investment Highlights 7 Key Projects in Progress 18 Financials 20 | Page 2
Slide 3: Company Overview
“— Company Overview
Slide 4: A Strong Player in Urban Development in Greece and front-runner in Sustainable Buildings
A Strong Player in Urban Development in Greece and front-runner in Sustainable Buildings Company Snapshot Current Development Portfolio • Active across the full property development lifecycle, with 19 projects under development as of 31.12.2022 15 emphasis on modern design and energy efficiency stan
Slide 5: Implementing a flexible and successful business model
Implementing a flexible and successful business model Clear Investment criteria Buy Sourcing Plots or Assets - Urban planning control for the asset under consideration - Bankability check - Legal & Technical Due Diligence - Sale negotiations & agreement Licensing and commercial use preparation Plan
Slide 6: Top-class real estate development experience with consistent project delivery
Top-class real estate development experience with consistent project delivery even during the Greek financial crisis Project milestones (based on project commencement date) COSMOTE KERAMEIKOS OFFICE BUILDING IN PATISSIA NERATZIOTISSA ALDI RETAIL CHAIN AGEMAR HQ OFFICE COMPLEX COSMOTE TV PIRAEUS TOWE
Slide 7: Investment Highlights
“— Investment Highlights
Slide 8: Investment highlights
Investment highlights 1 Top-tier seasoned management team 2 Solid, market-leading track record of delivered projects over the business cycles 3 Razor-sharp investment strategy, backed-up by secured pipeline 4 Institutional partnerships – reputable clientele – strong banking relationships 5 Well-posi
Slide 9: Real estate professionals with right mix of capabilities
Real estate professionals with right mix of capabilities Dimitris Andriopoulos Olga Itsiou Despina Giannakaki Michalis Nikos Dimtsas Anna Chalkiadaki CEO COO Senior Legal Advisor Anastasopoulos CIO CFO Executive Legal Advisor • Founder & major • CIO of DIMAND since • CFO of DIMAND since • In DIMAND
Slide 10: Clear-eyed investment strategy: Focus on sustainability & quality
Clear-eyed investment strategy: Focus on sustainability & quality Expansion of real estate development operations, while maintaining business excellence, and Growth Mindset innovation in practice Sustainable LEED certification at Gold level as a minimum limit Development Return-Driven Focus on both
Slide 11: Project characteristics: Strategic foresight & criteria of investment
Strategic foresight & criteria of investment Key investment criteria Strategic foresight Greenfield or brownfield Type Urban regeneration based on sustainable development Elasticity of Supply Offices spaces > 5,000 sq.m in Athens, Northern Greece Flexibility to cope with adverse market conditi
Slide 12: Diversified current development portfolio of projects
Diversified current development portfolio of 23 projects (excl. Skyline) 19 projects under development as at 31.12.2022 Current Development Portfolio A Ready to Deliver B Planning & Under Construction C 3% Projects Development 1 1 18% 4 5 4% €915 mn Type 12 43% 3 4 GDV Detailed Analysis in Appendix
Slide 13: New Projects Secured: Athinaiki Chartopoiia Industrial Properties
New Projects Secured Athinaiki Chartopoiia Industrial Properties 1 • Iera Odos, Elaionas, Athens 2 – 49,340 sqm plot with premises • Megalo Pefko, Attica 3 – 73,132 sqm plot with premises • Nea Peramos, Kavala 3 – 70,080 sqm plot with premises • Nea Sevastia, Drama 3 – 933,120 sqm plot with premises
Slide 14: New Projects Secured: Project Skyline by Alpha Bank
New Projects Secured Korai 1 & Stadiou 34 Project Skyline by Alpha Bank • Skyline HoldCo to own a portfolio of 573 properties (695 IDs) incl. landmark ones • P&E Investments (Dimand 75% - Premia 25%) to acquire 65% of Skyline HoldCo 1 • Portfolio entry value € 438m • Skyline HoldCo senior debt up to
Slide 15: Green focus on project development
Green focus on project development Leader in the green building 14 market 22 GREEN Certified projects pursuing projects 42%1 LEED certification of the country’s LEED BD+C2 certified buildings Karela Office Park Agemar HQs Piraeus Port Plaza 1st LEED certified office building in Greece (GOLD) 1st LEE
Slide 16: EBRD Partnership Framework
EBRD Partnership framework – project equity financing Strategic Partners since FY17 Main Equity Financing terms EBRD projects track record Partnership extended until • Cante – Financing 31.12.2030 Additional €50 mn equity commitment Piraeus Port Plaza 2 by EBRD as stipulated in new partnership frame
Slide 17: Commitment to Corporate Governance Practices
Commitment to Corporate Governance Practices 1 Board of Directors 3 2 1 Nomination & Board of Directors Audit Renumeration Committee • 5 executives Committee • 1 non- executive • 3 non-executives, independent members Internal Human Resources Audit Department 2 Audit Committee Marketing CEO Risk Depa
Slide 18: Key Projects in Progress
“— Key Projects in Progress
Slide 19: Key projects in progress
Key projects in progress Piraeus Tower Insignio A full turn-key fit out of a 22 stories office tower, originally erected in 1972. It will include two The new office complex consists of two four-storey, mirroring, elliptical - shaped buildings. It is situated basements, retail, restaurants, cafe and
Slide 20: Financials
Financials
Slide 21: Strengthening of the Capital Structure
Strengthening of the Capital Structure in € ‘000s 2020 2021 2022 Assets 70,012 116,444 182,424 125,528 122,429 Debt 30,071 59,107 45,768 Other liabilities 7,510 19,595 14,227 Equity 32,430 37,742 122,429 39,041 37,742 NAV 33,771 39,041 125,528 33,771 32,430 Net Debt / Total Assets 33.23% 34.10% 19.6
Slide 22: Expansion of the investment pipeline
Expansion of the investment pipeline in € ‘000s 2020 2021 2022 Completion GDV (AUM) 332,836 524,274 915,151 Completion GDV (Dimand share) 192,383 318,343 723,040 % growth 27.5% 65.5% 127.1% Commentary 6 new projects added in FY 2022 with a completion GDV of € 370m - Insignio- new PwC HQ, Maroussi -
Slide 23: Operating Performance
Operating Performance in € ‘000s 2020 2021 2022 Operating profit 3,236 6,031 7,054 EBITDA 16,143 10,115 7,105 Net profit / (loss) 12,167 5,308 (7,805) Adjusted EBITDA 16,143 10,115 7,675 1 Adjusted Net profit 12,167 5,308 400 2 Commentary 1. Adjusted for non-recurring payment of stamp duty € 571k 2.
Slide 24: Successful implementation of exit strategy
Successful implementation of exit strategy Omonoia 1 in € ‘000s Maroussi Campus in € ’000s Exit GDV 100% 26,072 Exit GDV 100% 42,241 Exit proceeds 35.75% 4,920 Exit proceeds 65% 9,989 Invested capital 1,768 Invested capital 65% 7,589 Profit 3,152 Profit 2,400 MoIC 4.5 yrs 2.78x MoIC 2.0 yrs 1.24x IR
Slide 25: DIMAND Real Estate Development S.A.
- STRICTLY PRIVATE & CONFIDENTIAL - DIMAND Real Estate Development S.A. Corporate Presentation Athens | June 2023
Slide 26: Appendix
Appendix
Slide 27: Consolidated statement of financial position – IFRS
Consolidated statement of financial position – IFRS Amounts in € Dec-2020 Dec-2021 Dec-2022 Restated Assets Non-current assets Investment property 23,365,000 50,320,000 96,999,127 Property and equipment 686,280 687,332 656,838 Intangible assets 735 7,375 9,009 Investments in Joint Ventures accounted
Slide 28: Consolidated income statement – IFRS
Consolidated income statement – IFRS Amounts in € FY 2020 FY 2021 FY 2022 Restated Revenue 7,825,788 6,863,580 10,621,314 Cost of sales (6,018,893) (4,525,143) (7,902,759) Gross Profit 1,806,895 2,338,437 2,718,555 Other operating income 333,080 360,920 759,782 Net fair value gains on investment pro
Slide 29: Disclaimer
Disclaimer • This presentation has been prepared by, and is the sole responsibility of, Dimand S.A. (the “Company”) for discussions with investors in relation to the Company and its group. • For the purposes of this notice, “presentation” means this document and any other written materials, oral pre
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