Presentation q3 2016

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  • Dom Development S.A.

    Q3 2016 Results Presentation 25 October 2016

  • Highlights

    2

    Q3 2016

    Record high quarterly sales 705 units

    2 new sites purchased with development potential of 777 units

    Net profit of PLN 16.8 m

    Safe cash levels (PLN 280 m) and low gearing: 11%

  • Residential Market in Q3 2016

    Strong sales with stable prices

    Supply and demand still balanced

    Record low interest rates support demand

    Increasing share of cash buyers approx. 40% of overall

    transactions at Dom Development

    High competition on land market

    3

  • Quarterly Net Sales

    4

    479

    407

    483509

    545

    467

    598640

    678

    615

    701 705

    0

    100

    200

    300

    400

    500

    600

    700

    Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016

    No. of units

  • 5

    Sales segmentation based on transaction value

    36% 32% 28% 26% 27% 24% 26% 24% 24% 28% 18% 17%

    36% 35%

    36% 37% 37% 35% 32% 33% 29% 23%

    22% 23%

    15% 17%

    18% 18% 18% 22% 21% 24%

    23% 21%

    25% 26%

    13% 15% 18% 19% 18% 20% 21% 19% 24% 28% 35% 34%

    Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016

    up to PLN 350k 350-450k 450-550k over PLN 550k

    * Transaction value includes price of a flat with fit-out (if purchased), storage room (if purchased) and parking space (if purchased).

  • Doms Offer

    6

    2 022 2 292 2 364 2 397

    1 696 1 548

    2 505 2 214

    312

    212 294 357

    557 547

    506

    451

    -

    500

    1 000

    1 500

    2 000

    2 500

    3 000

    31/12/2014 2 334

    31/03/2015 2 504

    30/06/2015 2 658

    30/09/2015 2 754

    31/12/2015 2 253

    31/03/2016 2 095

    30/06/2016 3 011

    30/09/2016 2 665

    Units under construction Finished units

    No. of units

  • New Construction Starts

    7

    263

    637752 735

    279

    426

    1 349

    557

    0

    200

    400

    600

    800

    1 000

    1 200

    1 400

    Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016

    4 projects 3 projects 2 projects 4 projects 4 projects 8 projects 1 project 3 projects

    No. of units

  • Units under construction and in preparation

    2 927 3 564 3 727

    3 989

    2 958 3 085

    3 935 3 886

    4 672

    6 276 5 762

    5 001

    6 504 6 648 6 734 7 016

    0

    1 000

    2 000

    3 000

    4 000

    5 000

    6 000

    7 000

    31/12/2014 31/03/2015 30/06/2015 30/09/2015 31/12/2015 31/03/2016 30/06/2016 30/09/2016

    Under construction In preparation

    8

    No. of units

  • Handovers

    9

    Units sold but not delivered (presales)

    30.06.2016 30.09.2016

    1 923 units

    2 128 units, including:

    456 finished units 1 672 units under construction

    636

    190

    375478

    1 019

    256

    564500

    0

    200

    400

    600

    800

    1000

    Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016

    No. of units

  • 10

    Cumulative net sales to be recognized in P&L

    PLN m

    200

    300

    400

    500

    600

    700

    800

    900

    1 000

    1 100

    I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII IX

    2013 2014 2015 2016

  • Financial Results Summary

    Q3 2016 Q3 2015 Change Q1-Q3 2016

    Q1-Q3 2015

    Change

    Sales Revenues 218.2 193.9 13% 585.9 424.2 38%

    Gross Profit on Sales 49.4 37.4 32% 129.3 93.8 38%

    Gross Profit Margin 22.6% 19.3% 3.4 pp 22.1% 22.1% -

    Operating Profit 21.0 13.2 59% 51.6 20.7 149%

    Operating Profit Margin 9.6% 6.8% 2.8 pp 8.8% 4.9% 3.9 pp

    Profit Before Tax 20.9 12.4 69% 50.4 18.8 168%

    Net Profit 16.8 9.5 76% 40.4 14.7 175%

    EPS (PLN) 0.68 0.39 74% 1.63 0.59 176%

    11 IAS 18, PLN m

  • Balance Sheet and Profitability

    12

    Consolidated Balance Sheet IAS 18, PLN m 30.09.2016 30.09.2015 Change

    Shareholders funds (equity) 843.5 817.2 3%

    Net debt* 90.1 60.1 50%

    Gearing (net debt/equity) 10.7% 7.4% 3.3 pp

    Net asset value per share (PLN) 34.04 32.99 3%

    Shares in issue (m) 24.8 24.8 -

    ROE (12M) 13.0% 5.4% 7.6 pp

    ROCE (12M) 12.2% 4.8% 7.4 pp

    *Bank debt plus bonds in issue less cash at banks (including escrow accounts)

  • Debt Maturity Structure

    13

    120

    50

    100 100

    0

    20

    40

    60

    80

    100

    120

    140

    by 30.09.2017 by 30.09.2018 by 30.09.2019 by 30.09.2020

    Unsecured Bonds Bank Loans

    PLN m

    Cash as of 30/09/2016 PLN 280m

  • Q1-Q3 2016

    14

    Summary:

    3,886 units under construction on 23 projects

    2,665 units in Doms offer as of September 2016

    2,021 units sold in Q1-Q3 2016 , with a record high 705 units in Q3

    New land for approx. 2,800 units: Sobieskiego, Kowalczyka, further phases of Wilno,

    Marina Mokotw, and Przy Parku

    Cash resources for land purchases and new project starts: PLN 280m of cash and low net

    debt

    Q1-Q3 2016 net profit of PLN 40.4m, with PLN 16.8m in Q3

  • Appendices

  • 16

    Project No. of units in

    project Commencement of

    handovers

    Q1 Aura phase 1B (Wroclaw) 64 March 2016

    Q2

    Wille Miejskie Klasykw phase 1 235 April 2016

    Wilno II phase 2 263 May 2016

    Apartamenty Saska nad Jeziorem phase 3 236 June2016

    Q3

    Wille Lazurowa 166 September 2016

    Osiedle Przyjaci phase 1 116 September 2016

    Osiedle Przyjaci phase 2 89 September 2016

    Q4

    Dom Pod Zegarem 235 October 2016

    Wilno II phase 3 189 October 2016

    Studio Mokotw 329 November 2016

    oliborz Artystyczny phase 8 218 November 2016

    oliborz Artystyczny phase 9 162 November 2016

    Appendix 1:

    Commencement of handovers in 2016

    Commencement of handovers: on schedule/ earlier / delayed

  • 17

    NO PROJECT UNDER

    CONTRUCTION

    IN PREPARATIO

    N

    1 OLIBORZ ARTYSTYCZNY 783 ---

    2 PREMIUM 442 486

    3 OS. PRZYJACI 95 ---

    4 WODARZEWSKA 30 (NOWOSOLIPSOWSKA)

    123 ---

    5 OS. POD RAMI III 50 ---

    6 PRZY PARKU (NEW) --- 46

    7 MARINA MOKOTW (NEW) --- 731

    8 STUDIO MOKOTW 329 ---

    9 APARTAMENTY MOKOTW NAD SKARP (BUKOWISKA II)

    184 ---

    10 BUKOWISKA III --- 181

    11 CYBERNETYKI --- 600

    12 TANECZNA 119 ---

    13 URSYNOVIA (ANODY) 190 ---

    14 SOBIESKIEGO --- 153

    TOTAL LEFT BANK 2 315 2 197

    NO PROJECT UNDER

    CONTRUCTION IN

    PREPARATION

    15 REGATY --- 217

    16 PALLADIUM (AKACJE) 214 566

    17 KLASYKW 204 ---

    18 KOWALCZYKA --- 792

    19 MODERNA 365 442

    20 SAMARYTANKA --- 581

    21 WILNO 429 1 556

    22 MOTOROWA --- 493

    23 SASKA III 359 ---

    TOTAL RIGHT BANK 1 571 4 647

    Warsaw

    TOTAL UNDER

    CONSTRUCTION IN PREPARATION FINISHED

    WARSAW 3 886 6 844 25 278

    WROCLAW (AURA PROJECT)

    --- 172 721

    DOM 3 886 7 016 25 999

    1 2

    4 5

    8

    12

    9

    15

    16

    19

    23 22

    14

    17

    18

    20 21

    7 6

    13

    11

    3

    10

    Appendix 2:

    Projects Under Construction and in Preparation no. of units, as of 30/09/2016

    PROJECT IN PREPARATION

    PROJECT UNDER CONSTRUCTION

  • 18

    For further information, please contact: Magdalena Cumanis Investor Relations

    tel. +48 22 351 68 49 e-mail: magdalena.cumanis@domd.pl www.inwestor.domdevelopment.com.pl

    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.