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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).
Dom’s 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 Dom’s 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 Mokotów, 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 Klasyków 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 Przyjaciół phase 1 116 September 2016
Osiedle Przyjaciół phase 2 89 September 2016
Q4
Dom Pod Zegarem 235 October 2016
Wilno II phase 3 189 October 2016
Studio Mokotów 329 November 2016
Żoliborz Artystyczny phase 8 218 November 2016
Żoliborz 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 ŻOLIBORZ ARTYSTYCZNY 783 ---
2 PREMIUM 442 486
3 OS. PRZYJACIÓŁ 95 ---
4 WŁODARZEWSKA 30 (NOWOSOLIPSOWSKA)
123 ---
5 OS. POD RÓŻAMI III 50 ---
6 PRZY PARKU (NEW) --- 46
7 MARINA MOKOTÓW (NEW) --- 731
8 STUDIO MOKOTÓW 329 ---
9 APARTAMENTY MOKOTÓW NAD SKARPĄ (BUKOWIŃSKA II)
184 ---
10 BUKOWIŃSKA 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 KLASYKÓW 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: [email protected] 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.
