Slide 1: 2018 results presentation
2018 results presentation April 2019 1
Slide 2: Russia's leading residential real estate developer
Russia’s leading residential real estate developer *Source: https://erzrf.ru/, Company data th. sqm. th. sqm. 1 980 7 594 RuА- №1 by total housing №1 by current construction ExpertRA rating completions volume bln $ 3.5 №1 RuBBB+ №1 by market capitalization By operational cash flow ACRA rating among
Slide 3: 2018 financial highlights
2018 financial highlights 1. Revenue increased to 245.8 bln.RUB 2. Operational cash flow increased to 69.8 bln. RUB 3. EBITDA increased to 43 bln. RUB 4. EBITDA margin increased to 17% 5. Net profit increased to 21 bln. RUB 6. Net debt decreased to 2.5 bln. RUB 7. Net debt/EBITDA amounted to 0.06
Slide 4: 2018 operational highlights
2018 operational highlights 1. Real estate contract sales increased by 6% in m2 and by 11% in RUB 2. Cash collections from sale of real estate increased by 17% 3. Two new regional markets: Ekaterinburg and Tyumen 4. First large project in Russia on project financing using escrow accounts
Slide 5: Revenue, Gross profit and EBITDA
Revenue, Gross profit and EBITDA Revenue, RUB bln Gross profit, RUB bln EBITDA, RUB bln +40% +94% 245,8 55,1 22,4% +215% 175,1 42,8 17,2% 28,4 16,2% 245,8 156,3 55,8 13,6 175,1 7,8% 35,8 28,4 15,6 2017 2018 2017 2018 2017 2018
Slide 6: Cash flow and net profit
Cash flow and net profit Operational cash flow, RUB bln Net operational cash flow, RUB bln Net profit, RUB bln +28% +23% +574% 69,8 21,3 31,1 54,5 25,3 3,2 2017 2018 2017 2018 2017 2018 Note: Operational cash flow before income tax and interest paid and before acquisitions and sale of development rig
Slide 7: Debt portfolio
Debt portfolio Total debt, RUB bln Net debt, RUB bln Cost of debt, % 0,135 12,99 % 0,13 62,2 12,34 % 0,125 3,1 0,12 0,115 65,5 40,7 0,11 10,59 % 60,5 0,105 59,2 0,1 15 2,5 0,095 2016 2017 2018 2016 2017 2018 2016 2017 2018 Total debt as of end of 2018 includes 3.1 RUB bln of project financing Net de
Slide 8: 577 RUB per share P/NAV - 0,61
13,9 bln RUB Assets valuation as of 2,8 bln RUB Grids 31.12.2018 Offices 57,6 bln RUB Industrial segment 11.9 bln RUB New businesses 26,3 bln RUB Brand 577 RUB per share 382,1 bln RUB P/NAV - 0,61 Land bank 269,5 bln RUB *Source: CW, company data, capitalization as of 01.04.2019 8
Slide 9: Land bank dynamics
Land bank dynamics *Source:: CW Unsold area, th sqm Market value, RUB bln 14 000 300 12 512 269,5 11 497 10,7 1 688 10 870 225,0 10 500 1 565 225 217,1 1 525 9,8 12,9 85,4 55,1 58,6 5 765 7 000 5 698 150 5 430 5 161 5 467 100,6 1 347 83,8 5,8 1 516 5,8 15,1 173,4 3 500 75 152,2 153,5 1 674 20,2 1 86
Slide 10: Federal player
Federal player *Source:: CW REGION UNSOLD AREA, TH SQM Moscow Metropolitan area 9 345 Novorossiysk 319 Saints-Petersburg Ekaterinburg 274 Tyumen 268 Yaroslavl Yaroslavl 214 Moscow Rostov-on-Don 144 Obninsk Kaluga Saints-Petersburg 139 Obninsk 107 Tyumen Rostov-on-Don Ekaterinburg Kaluga 60 Total 10
Slide 11: Key projects in Moscow and Moscow region
33 Key projects in Moscow and Moscow region *Source:: CW 19 Project name Unsold ared, th. sqm 1 Ilyinskie Luga 1 297 21 32 16 2 Salaryevo-park 1 055 31 3 Vostochnoe Butovo 720 4 Belaya Dacha Park 617 30 17 5 Odintsovo-1 502 6 Buninskie Luga 461 7 Butovo-park 363 12 8 Serednevo 350 20 9 Izmaylovsky l
Slide 12: Appendix 1: Operational results 2018
Appendix 1 Operational results 2018 12
Slide 13: Sale of real estate
Sale of real estate Real estate contract sales, Real estate contract sales, Cash collections from sale of th. m² RUB bln real estate, RUB bln +11% +17% +6% 211 221 1 839 1 941 156,3 156,3 156,3 190 189 1309 1309 1309 139,6 139,6 139,6 135,6 135,6 135,6 126,8 126,8 126,8 1231 1231 1231 950 98 87 2016
Slide 14: New launches
New launches New buildings put on sale, th. m² New projects put on sale New buildings put on sale +17% +3 +2 2 503 2 143 99 102 12 13 156,3 156,3 156,3 1309 1309 1309 139,6 139,6 139,6 11 135,6 135,6 135,6 126,8 126,8 126,8 63 1231 1231 1231 1 158 2016 2017 2018 2016 2017 2018 2016 2017 2018 New pro
Slide 15: Appendix 2: 2019 guidance
Appendix 2 2019 guidance
Slide 16: 2019 guidance
2019 guidance Real estate contract sales, Real estate contract sales, Cash collections from sale of th. m² RUB bln real estate, RUB bln 1700 200 200 - - 221 - 225 1 941 1 950 211 212 1900 220 220 156,3 156,3 156,3 1309 1309 1309 139,6 139,6 139,6 135,6 135,6 135,6 126,8 126,8 126,8 1231 1231 1231 20
Slide 17: Appendix 3: New projects 2018
Appendix 3 New projects 2018 17
Slide 18: Dmitrovsky park
Dmitrovsky park Location: Moscow NSA: 193 th. sqm. End of construction: 3Q 2022 156,3 156,3 156,3 1309 1309 1309 139,6 139,6 139,6 135,6 135,6 135,6 126,8 126,8 126,8 1231 1231 1231 First large project using escrow accounts in Russia.
Slide 19: Belaya Dacha park
NSA: 1231 1Q 2022 Location: 126,8 736 th. sqm. Moscow region 135,6 End of construction: 1309 139,6 156,3 Belaya Dacha park 1231 126,8 135,6 1309 139,6 156,3 1231 126,8 135,6 1309 139,6 156,3
Slide 20: West port
NSA: 1231 Moscow 4Q 2022 Location: 126,8 222 th. sqm. 135,6 West port End of construction: 1309 139,6 156,3 1231 126,8 135,6 1309 139,6 156,3 1231 126,8 135,6 1309 139,6 156,3
Slide 21: Sheremetyevsky
NSA: 1231 Moscow 4Q 2022 Location: 126,8 175 th. sqm. 135,6 End of construction: 1309 139,6 Sheremetyevsky 156,3 1231 126,8 135,6 1309 139,6 156,3 1231 126,8 135,6 1309 139,6 156,3
Slide 22: Kosmonavtov 11, Ekaterinburg
Kosmonavtov 11, Ekaterinburg Location: Ekaterinburg NSA: 303 th. sqm. End of construction: 1Q 2025 156,3 156,3 156,3 1309 1309 1309 139,6 139,6 139,6 135,6 135,6 135,6 126,8 126,8 126,8 1231 1231 1231