Slides
Page 1
PRESENTATION FOR INVESTORS Q1 2025
Page 2
❑ Housing sector 951 premises sold in 1Q’2025 r. vs 1 038 in 1Q’2024 r. 524 premises delivered in 1Q’2025 r. vs 598 in 1Q’2024 r. 103 reservation agreements as at the end of 1Q 2025 r. 583 new premises with construction started on the offer in 1Q 2025 r. 3189 lokali w ofercie na koniec 1Q’2025 At the end of Q 2025, the land bank had 13,492 premises, including 2,186 JV premises and 3,253 secured premises Over 15,000 sqm of usable residential area (PUM) in plots acquired in Q1 2025. On 29 April 2025 the Companyntered into a preliminary sale agreement regarding acquisition of 100% of the shares in the share capital of Bouygues Immobilier Polska spółka z ograniczoną odpowiedzialnością Develia Group – Summary Q1 2025 2 ❑ Commercial segment (Divested) December 2023 saw the conclusion of a preliminary sales and purchase agreement for the disposal of Arkady Wrocławskie building, with the transaction being expected to be completed no later than by the end of August 2025; Demolition and dismantling works are being carried out according to the schedule. ❑ Develia Group – Q1 2025 Performance Consolidated revenues of PLN 253,5 m (Q1 2025) Consolidated net profit of PLN 65,2 m (Q1 2025) Consolidated net profit adjusted for total revaluation settled through profit or loss PLN 67,2 m
Page 3
Agenda 1. Market situation 2. Housing sector 3. Commercial real property 4. Financial Data 5. Attachments
Page 4
4 1. Market situation
Page 5
5 Source: Own elaboration based on Otodom preliminary data Housing market- April 2025 According to preliminary data from Otodom Analytics, 3.1 thousand apartments were sold in April, which is 9% less compared to the strong result in March. Since the beginning of the year, developers have sold 12.5 thousand apartments across 7 markets (Warsaw, Krakow, Wroclaw, Tri-City, Poznan, Lodz, and Katowice), a result 13% lower than in the same period last year. . In April, 3.4 thousand apartments were put up for sale, a 37% decrease compared to March this year. Since the beginning of the year, nearly 15.9 thousand apartments have been introduced to the market, a 23% decrease compared to the same period last year. In recent months, the pace of new listings has slowed: the average for this year is 3.9 thousand (due to the high number of listings in March—over 5.5 thousand) vs. 4.5 thousand, the average for 2024. As of the end of April, there were 60.5 thousand apartments available on the 7 markets analyzed. Over the course of the year, the supply has increased by 40%. The sales rate of the available offer has increased to 6.8 for the 7 largest markets. The lowest rate remains in Warsaw and the Tri-City, where the offer sells out in 5.1-5.2 quarters (the highest is in Katowice, at 11.5 quarters). Recently, we have observed a stabilization in apartment prices. In April, a total of 35.64 thousand people applied for a mortgage loan, marking a 10.2% increase year-on-year. Compared to March this year, the number of people applying for a mortgage loan decreased by 3.5%. Since the beginning of the year, the number of applications has increased by 20% compared to the same period last year. Ready-to-move-in apartments currently make up about 17% of the offer on the 7 main markets. Residential of launched for sale, sold, units on offer – 7 main markets
Page 6
Number of building permits granted, constructions started and flats delivered by developers on a quarterly basis 1Q’2025 Source: GUS Housing market – 1Q’2025 6 Average price of units on offer on the primary residential market PLN/m², incl. VAT, shell and core In Q1 2025, 27.7 thousand apartments were handed over for use, a 21% decrease compared to the previous quarter and a 6% decrease year-on-year. The number of dwellings for which a permit was issued or a notification with a construction design was submitted in Q1 2025 amounted to 40.4 thousand, a decrease of 19% year-on-year. In Q1 2025, developers started construction of 36.5 thousand dwellings, a figure 13% lower than a year earlier. The average prices of dwellings remaining on offer at the end of March 2025 increased the most in Wrocław (6.7%) and in the Tricity area (5.4%). In the remaining cities, quarterly changes in average prices ranged from -0.4% to +0.6%. Over the 12-month period, the highest price increases were recorded in Wrocław and the Tricity area (11.2% and 11.4%, respectively). In Warsaw, the increase was 8.5%, and in Łódź 5.3%. The smallest year-on-year price growth was observed in Kraków (3.4%) and Poznań (2.3%).
Page 7
7 2. Housing sector
Page 8
Biggest companies in the property developer business in Q1 2025 Source: Own elaboration based on z https://www.rp.pl and company announcements (*) development agreements, preliminary sales agreements and non -refundable reservations in total (**) a company listed on the Catalyst market 8 Company Q1 2025 Q1 2024 Y/Y Dom Development 1 033 1 011 2,2% DEVELIA 951 1 038 -8,4% Murapol 707 769 -8,1% Grupa Echo- Archicom 530 410 29,3% Robyg (**) 470 665 -29,3% Atal 348 730 -52,3% Victoria Dom (*)(**) 278 332 -16,3% Dekpol 173 115 50,4% Inpro 144 212 -32,1% Ronson 96 170 -43,5% Marvipol 87 144 -39,6% JHM Development 84 112 -25,0% Wikana 57 41 39,0% Unidevelopment (**) 50 89 -43,8% Lokum Deweloper 31 70 -55,7% Total 5 039 5 908 -14,7% Aggregation for 6 main markets Source: JLL Number of flats
Page 9
951 premises sold IN Q1 2025 r. 103 reservation agreements 10 2 0 1 0 1 20 1 0 0 0 4 P K W Ł K W W Ł W W W 4 2 2 220 11 1 12 1 0 141 21 1 4 154 12 15 1 15 51 4 2 44 24 2 2 2 0 12 1 12 P K W Ł K W W Ł W W W Housing segment as at 3/31/2025 Premises sold 9
Page 10
11 Sales targets in 2025 is 3100-3300 units Housing segment as at 3/31/2025 / sales targets 2025 Premises sold – sales targets 10 4 2 0 10 14 1 1 4 21 4 2425 2 00 2 0 1 2024 ales c la ivel ales in 2025 ales ar e s for 2025
Page 11
12 1 20 24 10 0 0 15 P K W Ł K W W Ł W W W 102 2 2 111 1 211 5 1 4 4 112 15 4 1 2 4 140 11 5 0 4 1 P K W Ł K W W Ł W W W Housing segment as at 3/31/2025 Premises delivered 11
Page 12
The delivery target in 2024 is 2,900-3,100 In Q1 2025, 524 premises were delivered, and 219 premises were completed and are ready for delivery (including 39 JV) As at 3/31/2025, 3,070 units were under construction, with their deliveries being expected to commence in 2025 743 13 51 1 1 1 20 114 25 land ank P K W Ł K W W Ł W W W 5 2 05 40 11 25 5 0 1 52 2025 202 sold for sale Housing segment as at 3/31/2025 / Sales progress acc. to commencement of deliveries Delivery potential based on flats under construction 12
Page 13
The 2025 target for new premises to be added to the offer – 3,100-3,300 new units 14 Housing segment as at 3/31/2025 Premises on the offer and land bank 13 663 117 611 92 768 123 397 186 315 209 320 108 115 113 on offer added in 2025 3513 1781 1666 720 114 259 8053 land bank P KATOWICE Ł K CRACOW W Ł W WARSAW
Page 14
Poznań 14 Przemyska Vita Gdańsk, Ujeścisko – Łostowice available for sale: 63 Bemowo Vita Warsaw, Bemowo available for sale: 169 under preparation: 545 Orawska Wrocław, Krzyki available for sale: 126 under preparation: 205 other projects in 6 cities available for sale: 1 843 under preparation: 5 202 Aleje Praskie Warsaw, Praga-Południe available for sale: 179 under preparation: 284 Ceglana Park Katowice, Brynów available for sale: 315 Centralna Park Kraków, Czyżyny available for sale: 311 under preparation: 1 558 Królowej Jadwigi Poznań available for sale: 68 under preparation: 259 Assets – housing estates (*) Premises on the offer (construction started and finished 2 656 Premises on the offer (construction not started yet) 418 Premises in land bank 3/31/2025 8 053 (*) Without JV Grupo Lar and PRS assets. 320 259 519 92 1 781 106 209 768 1 666 397 720 546 117 3 513
Page 15
In 2024, the Group purchased land that will enable it to construct more than 4,145 units (including over 1,600 JV units in Gdynia), an average price for usable floor space of a dwelling is PLN 2,633 In Q1 2025, the Group purchased lands in ózefów, near Warsaw, and in Wrocław, located at Piękna street In January 2025, the Group acquired a plot of land in Wrocław, which will be designated for the development of either a student housing project or a PRS investment. The land secured as of the end of Q1 2025 amounts to 3,929 units, including 676 under joint ventures (JV). Changes in investment portfolio 15
Page 16
16 3. Commercial real property (Divested)
Page 17
Arkady Wrocławskie ▪ In December 2023, a preliminary sale agreement for the property was concluded. ▪ GAV PLN 175,0 m Malin, Area of 169 ha ▪ The conclusion of the JV agreement with Hillwood Malin Development Logistics, LLC regarding the intention to jointly invest in the development of a logistic park with the necessary technical and road infrastructure in January 2023The estimated sale value of the land property will be higher than the current value of the property as stated in the register of the subsidiary. evelia’s commitment under the JV agreement is 25% ▪ The conditional acquisition of land is contingent on amendments to the study and the local zoning plan (MPZP). The municipality adopted the new plan in December 2024. ▪ The total projected value of the entire project will exceed PLN 1.5 bn, and it is envisaged that it will be completed within six years after the purpose of the Real Property is changed Commercial facilitiesInvestment landInvestment land Assets 17 17
Page 18
18 4. Financial Data
Page 19
Revenue from sales (mPLN) ROE and ROE (adjusted net profit) Financial Results Net profit and adjusted net profit(1) (mPLN) 1) Net profit adjusted for real property and foreign currency loan revaluation results 19 0,1 2 ,0 1 01 , 1 5 2, 1 1,0 ,2 251, ,0 , 5 , , ,5 ,5 1, 51 ,1 11, 1 0 , 1 0 , 1 ,5 01, 25 ,5 2020 2021 2022 202 202 1Q 202 1Q 2025 eal ro er develo en easin ac ivi and oldin - 10,5% 11,0% 16,2% 17,8% 22,1% 3,6% 7,5% 11,2% 16,7% 18,9% 20,5% 3,8% 2020 2021 2022 * 2023 2024 1Q 2025 ROE ROE (adjusted net profit) -138,8 153,9 230,9 275,4 379,1 84,4 65,299,0 156,8 237,9 292,5 352,8 87,8 67,2 19,1% 17,2% 22,3% 18,19% 19,71% 21,86% 26,49% 0,0% 5,0% 10,0% 15,0% 20,0% 25,0% 30,0% -200 000,0 -100 000,0 0,0 100 000,0 200 000,0 300 000,0 400 000,0 500 000,0 2020 2021 2022* 2023 2024 1Q 2024 1Q 2025 Net profit Adjusted net profit % Adjusted net profit
Page 20
Investment property and assets held for sale (mPLN) Assets Inventory value land for development (mPLN) Land designated for development classified as fixed assets (mPLN) GAV including Malin Project and without adjustment resulting from IFRS 16 – a sum of 15,0 mPLN Equity (mPLN ) Centralna Park stage Aroniowa stage 2 i dzyleska stage V 2 20 1 246 1 569,6 1 556,0 2 213,4 2 689,1 2 936,1 91,9 98,1 112,8 112,8 2020 2021 2022* 2023 2024 1Q 2025 Land for development Inventory
Page 21
Indebtedness1 – ratios Bond maturity structure (mPLN) Financial Position Total bonds: PLN 620 mln Bank loans (mPLN) * Financial liabilities according to the terms of bond issuance (i.e. stemming from IFRS 16 - perpetual usufruct payments). 100 1 0 100 100 1 0 0 50 100 150 200 Q 202 Q 202 2Q 202 Q 202 1Q 202 21 1 317,8 1 400,4 1 427,4 1 548,4 1 717,0 1 785,7 769,3 849,3 583,9 883,9 915,0 893,2 474,1 468,1 493,6 692,4 813,2 654,4 0,22 0,27 0,06 0,12 0,06 0,13 0 0,05 0,1 0,15 0,2 0,25 0,3 2020 2021 2022 2023 2024 1Q2025 Equity Financial liabilities Cash+securitity+Open Housing Escrow Account(*) Net debt/Equity Lp. Bank/Project Total repayment date Balance as of 31.03.2025 1 mBank / PKO ( Nexity Polska) 13.07.2028 141,3 2 Bank ( rkad Wrocławskic ) 26.01.2026 109,3 3 VeloBank (financing of current operations) 31.12.2025 9,5 TOTAL 260,1
Page 22
Dividend paid out in consideration of adjusted consolidated net profit (mPLN) (1) The dividend policy was suspended in 2019 under the resol ion carried e o an ’s Mana e en Board in 7/23/2020 due to circumstances relating to the SARS-CoV-2 pandemic; PLN 100.2m was allocated to reserve funds for the payment of dividend and advances on dividends in the future. (2) The dividend in the total amount of PLN 201.401.239,95, including: PLN 83.835.807,01 from the reserve funds provided from the 2019 profit designated for the payment of dividends and advances on dividends in the future and allocated for dividend payment. (3) The dividend in the total amount of PLN 226.140.099,50, including: PLN 6.746.003,16 from the reserve funds provided from the 2019 profit designated for the payment of dividends and advances on dividends in the future and allocated for dividend payment. (*) Source: stooq.pl 22 Dividend Policy 22 (4) Recommendation of the Management Board dated May 9 2025, The dividend in the total amount of PLN 265.482.116,46, including: PLN 883.616,46 transferred from the reserve capital created from the profit of 2019 for the payment of dividends and advances on dividends in the future and allocated to the payment of dividend. Dividend day will be 16 June 2025 Divident payment day will be 30 June 2025 (1) (2) (3) (4) Dividend Dividend paid out in consideration of adjusted consolidated net profit (mPLN) Dividend rate (*) 9,72% 10,31% 5,74% 5,10% 13,22% 8,25% 8,22% 7,26% Payout rate 73,8% 72,9% 23,2% 76,8% 128,5% 75,3% 77,3% 75,3% DPS 0,24 0,27 0,10 0,17 0,45 0,40 0,50 0,58
Page 23
23 5. Attachments 23
Page 24
2025 Targets The sale under development and preliminary sales agreements of 3 100– 3 300 units The delivery 2 900– 3 100 units Adding to the offer and construction started 3 100– 3 300 units Sale in 2025 rkad Wrocławskie Implementation of at least two projects in the living segment 24
Page 25
Further substantial expansion of the scale of operations in the flats for sale segment to the sales level of 4,500 flats in 2028 Consistently replenishing and securing land bank to ensure the sale of flats on average in the four-year perspective; Increasing land bank secured conditionally The implementation of the ESG strategy, which includes reporting and operationalisation of the emissions reduction plan and model solutions in this regard for residential projects Expanding own operations as the contractor of works as part of the group The diversification of operations by completing PRS and dormitory projects Completing the disinvestment of commercial assets Continuing the growth of business by entering into partnerships and M&A transactions; Enhancing brand recognition and awareness and actively buil i h c iv mpl y ’ b evelia ro ’s ra e for Years 2024-2028 long term goal 25
Page 26
26 To increase the scale of operations from nearly 2,700 to 4,500 (in 2028) in the housing segment, increasing the share up to 7-8% in the markets on which the company operates To complete disinvestment for the assets in the commercial segment – A k y W cł w ki K l j w Dividend potential of above PLN 1,350 m for payment in the period from 2024 to 2028; To maintain secure financing structure at a level corresponding to industry benchmarks (net debt/equity 0.20-0.40) To ensure the diversification of operations by carrying out projects in the PRS and dormitory segment – at least two projects annually on average An average annual budget for land acquisition and M&A is more than PLN 500m. Increase land bank secured conditionally; Build bank land for approx. 15,800 premises in 2028, taking into account land secured conditionally Projekt Malin – to carry out the warehousing project on a JV basis. Key KPIs for Years 2024 - 2028
Page 27
Revaluation of investment property 27 Period ended 31 March 2025 Arkady Wrocławskie Sky Tower Silesia Star Retro Office House Wola Retro Malin Kolejowa Babka Tower TOTAL Revenue from the sale of real esstate - - - - - - - - - Value of the real estate sold - - - - - - - - - Changes in real estate value within the period PLN - - - - - - - - - Changes in real estate value within the period EUR - - - - - - - - - Changes in real estate valuation in respect of altered EUR to PLN exchange rate within the period (1 980) - - - - - - - (1 980) Changes in real estate valuation in respect of expenditures incurred within the period (30) - - - - (64) - - (94) Updating the value if provisions related to the sale of real estate - - - - - - - - - Adjustment for linearistation of revenues from lease - - - - - - - - - TOTAL (2 010) - - - - (64) - - (2 074)
Page 28
Develia Group – P&L 28 31 March 2025 31 March 2024 Operating activity Sales revenue 253 530 401 612 Revenue from sales of services 1 790 4 652 Revenue from sales of goods and products 251 740 396 960 Cost of sales (172 716) (268 116) Pre-tax proffit/(loss) on sales 80 814 133 496 Profit/(loss) from investment property (2 074) (2 757) Selling and distribution cost (11 354) (7 937) General administrative expenses (20 622) (15 872) Other operating Income 1 258 3 955 Other operating expenses (2 532) (2 212) Operating profit/(loss) 45 490 108 673 Financial income 6 359 6 535 Financial expenses (6 536) (4 660) Share in profits (loses) of entites discllosed using the equitty method 13 271 (670) Pre-tax proffit/(loss) 58 584 109 878 Income tax (tax expense) 6 592 (25 478) Net profit/(loss) 65 176 84 400 - - Other comprehensive income Subject to reclassification to profit(loss) in subsequent reporting periods Cash flow hedges (236) 1 702 Income tax relating to other components of comprehensive income 45 (323) Other comprehensive income (net) (191) 1 379 - - Total comprehensive income 64 985 85 779
Page 29
Develia Group – Balance sheet/assets 29 31 March 2025 31 December 2024 Assets A. Non-current assets 482 032 447 814 1. Goodwill 66 858 66 858 2. Intangible assets 6 056 4 561 3. Property, plant and aquipment 28 997 30 276 4. Non-current recievables 612 612 5. Land classified as fixed assets 130 648 117 484 6. Investment property 90 379 90 379 7. Non-current prepayments and accured income 499 306 8. Deffered tax assets 45 208 24 563 9. Land designated for development classified as fixed assets 112 775 112 775 B. Current assets 3 782 916 3 643 590 1. Inventory 2 936 065 2 689 069 2. Trade and other recievables 144 383 96 112 3. Income tax recievables 8 830 8 851 4. Derivatives assets - - 5. Short-term securities 28 042 28 042 6. Other financial assets 204 041 233 032 7. Cash and other cash assets 450 393 579 535 8. Current prepayments and accured income 11 162 8 949 C. Non-current assets classified as held for sale 189 926 190 505 Total assets 4 454 874 4 281 909
Page 30
Develia Group – Balance sheet/liabilities 30 31 March 2025 31 December 2024 Equity and liabilities A. Equity 1 785 652 1 717 005 I. Equity attributable to shareholders of the parent 1 783 790 1 715 291 1. Share capital 457 728 457 678 2. The excess of the sale price of shares over their nominal value. 297 272 297 238 3. Capital reserve 478 560 478 560 4. Voluntary reserve 9 623 9 623 5. Other capital 95 253 92 115 6. Net profit/(loss) 445 354 380 077 II. Minory interests 1 862 1 714 B. Non-current liabilities 751 553 932 199 1. Non-current liabilities on account of loans and bonds 714 917 855 936 2. Non-current liabilities on account of acquisition of subsidiary 6 347 6 978 3. Provisions 811 811 4. Deffered tax liability 29 478 68 474 C. Current liabilities 1 903 415 1 618 438 1. Current liabilities on account of loans and bonds 167 613 48 920 2. Current lease liabilities 1 263 314 3. Current liabilities from the acquisition of shares 72 416 71 962 4. Current trade and other payables 280 816 331 984 5. Income tax payables 43 326 47 594 6. Provisions 88 408 92 250 7. Liabilities from contracts with customers 1 249 573 1 025 414 D. Liabilities arising frot non-current assets classified as held for sale 14 254 14 267 Total equity and liabilities 4 454 874 4 281 909
Page 31
31 Develia S.A.– P&L 31 March 2025 31 March 2024 Operating activities Revenue from the sale 152 902 208 977 Revenue from the sale of services 11 843 9 267 Revenue from the sale of goods and products 141 059 199 710 Cost of goods sold (107 216) (130 185) Gross profit/(loss) from sales 45 686 78 792 Selling and distribution expenses -5 530 -6 375 General and administrative expenses -12 832 -13 875 Other operating income 430 790 Other operating expenses -1 590 -450 Expected credit losses (1) (34) Operating profit/(loss) 26 163 58 848 Dividend income - 54 000 Financial income 14 963 23 345 Financial expenses (23 391) (16 618) Gross profit/(loss) 17 735 119 575 Income tax (tax expense) (5 304) (12 451) Net profit/(loss) on continued operations 12 431 107 124 Net profit/(loss) 12 431 107 124 Other comprehensive income Other components of comprehensive income -236 994 Income tax relating to other components of comprehensive 45 (189) Other comprehensive income (net) (191) 805 Total comprehensive income 12 240 107 929
Page 32
32 Develia S.A. – Balance sheet/assets 31 March 2025 31 December 2024 Assets A. Non-current assets 1 881 849 1 819 713 1. Intangible assets 4 656 3 187 2. Property, plant and equipment 24 011 25 144 3. Non-current loans and receivables 561 110 498 844 4. Non-current investments 1 219 823 1 220 289 5. Land designated for development classified as fixed assets 72 249 72 249 B. Current assets 1 801 559 1 890 693 1. Inventory 1 551 058 1 444 509 2. Trade and other receivables 63 225 66 292 3. Other financial assets 145 356 150 769 4. Cash and other cash assets 33 830 221 734 5. Current prepayments and accrued income 8 090 7 389 C. Non-current assets classified as held for sale 19 992 20 277 Total assets 3 703 400 3 730 683
Page 33
33 Develia S.A. – Balance sheet /liabilities 31 March 2025 31 December 2024 Equity and liabilities A. Equity 1 609 004 1 593 351 1. Share capital 457 728 457 678 2. Called-up share capital not paid 775 832 775 798 3. Other reserve funds 9 623 9 623 4. Other capital 13 545 10 407 5. Net profit/(loss) 352 276 339 845 B. Non-current liabilities 1 011 224 1 201 859 1. Non-current liabilities on account of loans and bonds 1 000 696 1 179 443 2. Non-current liabilities on account of acquisition of subsidiary 6 346 6 978 3. Accrued expenses and deferred revenues 728 728 4. Deferred tax liability 3 454 14 710 C. Current liabilities 1 080 714 933 011 1. Current liabilities on account of loans and bonds 175 093 55 320 2. Current lease liabilities 44 062 43 679 3. Current liabilities from the acquisition of shares - 44 991 4. Current trade and other payables 139 330 135 329 5. Income tax payables 10 910 37 475 6. Provisions 25 479 24 948 7. Liabilities from contracts with customers 685 840 591 269 D. Liabilities arising frot non-current assets classified as held for sale 2 458 2 462 Total equity and liabilities 3 703 400 3 730 683
Page 34
34 Residential projects under construction 34 • As of March 31, 2025, the Group had sold 3,478 residential units which were under construction at that time • As of March 31, 2025, the Group held 219 residential units, including 39 units as part of joint ventures (JV) Total (31.03.2025) 6 066
Page 35
Tworzymy miejsca do ż cia od 1 la Key information about acquisition Bouygues Immobilier Polska sp. z o.o. Creating places to live for 19 years
Page 36
Transaction details 36 Szczegóły transakcji Who are we acquiring • Bouygues Immobilier Polska sp. z o.o. (hereinafter referred o as „B P”) For how much • 66,5 mln EUR How are we financing it • Own funds • Refinancing with a loan up to PLN 200 million (loan disbursed in tranches). How are we paying • 100% of the price at the time of transaction closing (Q2 2025). What is the expected IRR • >20% Why • Implementation of the 2024–2028 strategy – Strengthening the position among the top 3 developers in Poland in terms of sales • Strengthening the position in key markets – Warsaw and Wrocław • Increasing scale of operations in Poznań • Attractive land bank of projects in Warsaw, Wrocław, and Poznań Subject of the transaction
Page 37
Why BIP 37 The transaction enables a significant scale-up of operations and strengthens the company's position among the top 3 developers in the Polish market. Enhancement of competencies in land acquisition and deepening knowledge of the Poznań market. The scale and structure of the transaction allow for maintaining debt ratios at levels assumed in the 2024–2028 strategy. Strengthening the position in key markets – Warsaw and Wrocław (with nearly 90% of projects located in these two cities) – as well as increasing presence in the Poznań market. The expected return on the transaction, measured by the IRR (Internal Rate of Return), exceeds 20%. Scaling up operations The transaction is consistent with the Develia long-term strategy. ((growth through M\&A, development in key markets) Develia Strategy Rganization development Low level of debt Expansion of the offer and the land bank Investment profitability The transaction aligns with Develia Group’s growth strategy, enabling a rapid increase in scale while maintaining a safe financing structure.
Page 38
BIP in numbers 38 Key informations Apartments sold and transferred by BIP, 2022-2024 One of the largest institutional housing developers with foreign capital, present in 3 cities - 24 years of activity on the Polish market / 74 completed investments Scale In the years 2022-2024, BIP obtained an average of PLN 336 million in sales revenues An experienced and competent team of 84 people Finances Employment 1 2 3 History of Bouyges Immobilier Polska Bouygues Immobilier entering Poland First project in Warsaw Exceeding 1,000 apartments sold and handed over to clients Launch of operations in Wrocław Launch of operations in Poznań 1,200 apartments completed (record scale) Signing an agreement with Develia 2001 2004 2009 2014 2020 2021 2025 562 652 544 638 172 567 Completed apartmentrs Developer agreements 2022 2023 2024
Page 39
BIP has a large portfolio of development projects in three cities in Poland, with a strong focus on the Warsaw market 39 Geographical presence Warszawa Wrocław Poznań Description Poznań 0.3 k. units under construction 28.1 k. Sq.m PUM / PUU Warsaw 1.0 k. units under construction 150.2 k Sq.m PUM / PUU Wrocław 0.0 k. jednostek w budowie 31.1 k. Sq.m PUM / PUU 1.3 k. Units under construction 209.4 k. Sq.m PUM / PUU Total 2.8 k. Units secured by preliminary agreements 1.9 k. units secured 0.2 k. units secured 0.7 k. units secured As of 31.12.2024
Page 40
B P’s rojec s and o era ions co ared o Develia 40 BIP Currently, 1,300 units are under construction, while the project pipeline within the land secured by BIP includes an additional 2,800 units. The acq isi ion of B P’s rojec s will ena le evelia o f r er s ren en i s osi ion in e Warsaw, Wrocław, and Poznań markets. This is the right moment due to the anticipated increase in land prices caused by the implementation of general plans under the new Spatial Planning and Development Act (the Warsaw arke acco n s for 1 of B P’s rojec s). B P’s rojec i eline consis s of reli inar a ree en s sec red on e condi ion of o ainin a ildin permit (PNB). Gdańsk Poznań Warsaw Łódz Cracow Wrocław Katowice - 766 / 2 584 1 022 / 1 872 1 991/ 5 691 288 / 257 449 / 367 - - / 114 1 290 / 2 418 - 214 / 209 0 / 662 1 208 / 2 179 BIP projectsunder construction / secured land 1 310 / 2 791 Develia projects under construction / land bank and land secured including joint ventures (JV) 5 918 / 13 562 The value of land secured by preliminary agreements through BIP amounts to PLN 2,347 per square meter. Develia land bank as of December 31, 2024
Page 41
Management Board 41 Andrzej Oślizło, PRESIDENT OF THE MANAGEMENT BOARD Andrzej Oślizł is a graduate of the Academy of Economics in Katowice (with major in Economics) and the Silesian University of Technology in Gliwice (with major in IT). He also completed his MBA at the European University in Montreux, Switzerland. For over 25 years, he has been managing business ventures in Poland and in foreign markets. He specialises in corporate management, investments, mergers and acquisitions, and strategies, in particular foreign expansion. In his career, he has successfully served as president and board member of companies in the ICT, transport, forwarding and logistics, aviation, finance and banking Paweł Ruszczak, VICE PRESIDENT OF THE MANAGEMENT BOARD P w ł Ruszczak is a graduate of the Warsaw School of Economics. He has been involved in the property development industry for 15 years. He was a member of the Management Board and Finance Director of the Archicom Group and Finance Director of Orco Poland Sp. z o.o., a Polish subsidiary of Orco Property Group SA. Previously, he worked in the banking sector for such entities as AmerBank Polska and Raiffeisen Bank Polska SA. Mariusz Poławski, VICE PRESIDENT OF THE MANAGEMENT BOARD M iu z P ł w ki i u f h F cul y f M m , U iv i y of Warsaw, where he completed his MA in Management. He has also completed courses in project economics, management, leadership psychology, and corporate governance. He has nearly 20 years of experience in managerial positions. Since 2003, he has been engaged with the Marvipol Group as Managing Director, Operations Director, as well as Member and Vice-President of the Management Board. For 7 years, he was responsible mainly for the residential and warehouse sector, including wide execution of development projects and putting them on the market. 35 41 Karol Dzięcioł, MEMBER OF THE MANAGEMENT BOARD Karol Dzięci ł is a graduate of the University of Warsaw (Faculty of Economic Sciences, specializing in Finance and Accounting). He also completed the Interdisciplinary Spatial Economy Studies at the Warsaw University of Life Sciences and postgraduate studies in Real Estate Brokerage at the University of Warsaw (Faculty of Law and Administration). He has nearly 20 years of experience in the real estate sector in Poland and Central and Eastern Europe (CEE), including advising in the implementation of residential and mixed-use projects, as well as cooperating with leading developers on business development and land acquisition. He also specializes in the development of commercial real estate projects, particularly in the PRS (Private Rented Sector) and PBSA (Purpose-Built Student Accommodation) segments.
Page 42
Shareholding 42
Page 43
DISCLAIMER 43