Dom Development S.A. H Results Presentation 26 August 2015

Transcription

1 Dom Development S.A. H Results Presentation 26 August 2015

2 Presentation Plan Highlights 3 Residential Market in Q Operations: Quarterly Net Sales 5 Dom s Offer 6 New construction starts 7 Units under construction and in preparation 8 Handovers 9 Finance: Profit & Loss Account 10 Balance Sheet 11 Interest-bearing debt maturity dates 12 Summary 13 Appendices Appendix 1: Commencement of Handovers in Appendix 2: Dom s Projects under Construction and in Land Bank

3 Highlights Gaining altitude Q record sales of 598 units (24% rise YoY) Offer further widened with new projects on left bank of Vistula Attractive land plots acquired in Mokotów and Ochota districts of Warsaw Safe cash levels(pln 300m) and low gearing of 9% 3

4 Residential Market in Q Strong Q2 sales are a good leading indicator for H Homes for the Young still clearly supports Warsaw market Continuing, positive influence of record-low interest rates Strong demand in all primary market segments 4

5 Quarterly Net Sales No. of units Q Q Q Q Q Q Q Q Q Q

6 Dom s Offer No. of units /09/ /12/ /03/ /06/ /09/ /12/ /03/ /06/ Units under construction Units on finished projects 6

7 New Construction Starts No. of units project 4 projects 2 projects 7 projects 2 projects 1 project 3 projects 4 projects 0 Q Q Q Q Q Q Q Q

8 Units under construction and in preparation No. of units /12/ /03/ /06/ /09/ /12/ /03/ /06/2015 Under construction In preparation 8

9 Handovers No. of units Q Q Q Q Q Q Q Q Units sold but not delivered units units, including: 244 units on finished projects units under construction 9

10 Financial Results Q Q Change H H Change Sales Revenues (3.2)% (36.3)% Revenue per 1 Unit Delivered (PLNk) % % Gross Profit on Sales % % Gross Profit Margin 24.2% 12.9% 11.2 pp 24.5% 14.8% 9.7 p.p. EBITDA % (28.4)% EBITDA Margin 9.0% 2.3% 6.7 pp 4.1% 3.7% 0.5 p.p. Net Profit % (53.1)% EPS (PLN) % (52.3)% IAS 18, PLN m 10

11 Maintaining Strong Balance Sheet Consolidated Balance Sheet IAS 18, PLN m Change Cash % Work in Progress 1, , % Units sold and not delivered 1,607 1, % Net Debt (41.5)% Equity (0.7)% Gearing (Net Debt/Equity) 8.6% 14.7% (6.0) pp Net Assets per Share (PLN) (0.7)% 11

12 Comfortable, Much Improved Debt Maturity Structure PLN m by by by by by Unsecured Bonds Bank Loans Cash as of 30/06/2015 PLN 300m 12

13 Summary: H Seven plots added to Warsaw land bank with a total development potential of over 2,600 units, including approx. 1,900 units on the left-bank of the Vistula Four new locations on the left-bank in our offer 3,727 units under construction and 2,658 units in our offer at the end of Q Homes for the Young: approx. 30% of Dom s offer was eligible for the programme as at the end of Q Cash levels still high (PLN 300m) and gearing low (9%) high potential for land purchases and new project starts. Net profit of PLN 10.6m in Q2 2015, giving PLN 5.1m net profit for H

14 Appendices

15 Appendix 1: Commencement of handovers in 2015 Project No. of units in project Commencement of handovers Oaza ph 3 (Wrocław) 234 June 2015 Q2 Saska Apartamenty n. Jeziorem ph June 2015 Wilno II ph June 2015 Q3 Palladium ph July 2015 Żoliborz Artystyczny ph August 2015 Aura 1a (Wrocław) 124 October 2015 Wilno 2a ph October 2015 Willa Lindego 129 November 2015 Q4 Saska Apartamenty n. Jeziorem ph November 2015 Rezydencja Mokotów 142 December 2015 Osiedle Pod Różami 110 December 2015 Al. Piastów (Wrocław) 177 December 2015 Żoliborz Artystyczny ph December

16 Appendix 2: Projects Under Construction and in Preparation no. of units, as of 30/06/2015 PROJECT UNDER CONSTRUCTION IN PREPARATION Warsaw WILLA LINDEGO PEŁCZYŃSKIEGO PROJECT UNDER CONSTRUCTION IN PREPARATION ŻOLIBORZ ARTYSTYCZNY OSIEDLE PRZYJACIÓŁ WILLE LAZUROWA REZYDENCJA MOKOTÓW OSIEDLE POD RÓŻAMI REGATY PALLADIUM (AKACJE) KLASYKÓW MALBORSKA WILNO NOWOSOLIPSOWSKA (NEW) STUDIO MOKOTÓW (GARAŻOWA) DOM POD ZEGAREM (BUKOWIŃSKA) BUKOWIŃSKA NAD SKARPĄ APARTAMENTY SASKA NAD JEZIOREM SASKA III TOTAL RIGHT BANK BUKOWIŃSKA III (NEW) ANODY PROJECT IN PREPARATION PROJECT UNDER CONSTRUCTION TOTAL LEFT BANK

17 Appendix 2, p.2: Projects Under Construction and in Preparation no. of units, as of 30/06/2015 Wroclaw PROJECT UNDER CONSTRUCTION IN PREPARATION AL. PIASTÓW AURA WROCŁAW PROJECT IN PREPARATION PROJECT UNDER CONSTRUCTION TOTAL UNDER CONSTRUCTION IN PREPARATION FINISHED WARSAW WROCLAW DOM

18 For further information, please contact: Magdalena Kempa Investor Relations Specialist tel Dom Development S.A. endeavours to ensure that the information in the presentation is complete. up-to-date and accurate. However. we do not make any guarantees in this respect. Dom Development S.A. connot accept responsibilty for the consequences of using such information. and in particular any loss caused by reliance thereon for the purpose of investment decisions. The material contained in the presentation originates from reliable public sources and to the best knowledge of Dom Development S.A. may be considered reliable. 18