Abitare In

Investor Presentation • Jun 16, 2022

ABITAREIN

HALF-YEARLY RESULTS AS AT 31 MARCH 2022

PROJECTSUNDERDEVELOPMENTINMILAN:OURPIPELIN E

THE PIPELINE AT A GLANCE - FIGURES

6) Building works can be started in 12 months

7) Value update to the current average selling price

Ahead of the market and in absence absence of competitors competitorscompetitors, accelerated by distressed assets and NPLs, in just 7 years we have implemented the best and best and largest largest pipeline of projects projectsprojects in Milan, at a price way below the target for current values. Today, we are in the position to buy sites for development over a 5-year period, thus keeping the carrying amount of the sites low and being able to decide in an opportunistic way which and how many projects start

N E X T D E L I V E R I E S

Work is proceeding as planned for the completion of the construction sites in progress, in line with the expected completion times, for which, regarding the delivery of supplies, the delays that occurred in the first quarter of the year are no longer being re-ported

* No. of apartments, considering an average surface area of 92 m2. The actual number of apartments built and for which contracts have been signed - without prejudice to the combined floor area (m2) - may vary depending on the custom size of the real estate units.

S U C C E S S O F N E W S A L E S T R AT E G I E S

We have started marketing, at the same time, 4 new projects, with the new sales strategies for "micro-campaigns" that are maximizing the potential of the current market, with purchase prices rising sharply

L A M B R A T E T W I N P A L A C E

THEUN I T S

P A L A Z Z O S I N T E S Y

5 B A L D U C C I O D O D I C I

I N C R E A S E O F S A L E S : B A L D U C C I O D O D I C I

The potential inflationary system is stimulating the investment purchase market, with much higher profitability

STABILIZATION OF CONSTRUCTION COSTS IS BEING CONFIRMED

The selling contracts of all the new commercializations contain the price adjustment clause that links the selling price to the Italian construction costs index

building

stock

PRICE ADJUSTMENT CLAUSE

In the contracts with customers, allowing the sale price of apartments that have already been the subject of a preliminary contract to be adjusted on the basis of the construction cost index issued by ISTAT.

CAREFUL PLANNING Temporal variation in signing building contracts

SELLING PRICE INCREASE

FIXED PRICE CONTRACTS With construction companies

FISCAL BONUS Opportunities offered in support of renovation of the

CHANGES AND OPTIMIZATION of the product

CONSOLIDATED REVENUES

CONSOLIDATED REVENUES

H	H
1	1
2	2
0	0
2	2
2	1
€	€
6	6
6	2
4	8
M	M
L	L
N	N

• € 31.7 MLN: INVENTORIES FOR PROGRESS OF WORKS, net of discharge due to the handover (consequent upon the notarial deed of purchase) of the apartments to customers (Euro 3.4 million in H1 2021),
• € 16.9 MLN: CHANGE IN INVENTORY FOR THE PURCHASE OF NEW REAL ESTATE COMPLEXES (Euro 33 million in H1 2021),
• € 16.0 MLN: REVENUE FROM SALES, deriving from the notarial deeds for the real estate units (Euro 25.0 mln in 1H 2021).

PRODUCTION PROGRESS PROGRESSPROGRESS amounts to Euro 47.1 million million (Euro 24.7 million as at 31 March 2021) for the prosecution of construction works in the sites of Milano City Village, Trilogy Towers and Palazzo Naviglio and the preparatory works of di Lambrate Twin Palace, Cadolini ex-Plasmon, Porta Naviglio Grande, Savona 105 e BalduccioDodici.

CONSOLIDATED EBT

CONSOLIDATED EBT

H	H
1	2
2	2
0	0
2	2
2	1
6	4
4	4
€	€
M	M
L	L
N	N

Increased, by Increased, by Euro 1.7 million, by income not deriving from operating activities, given by the capital gain from the remeasurement at fair value of the equity investment in Tecma Solutions S.p.A..

NET OF THREE INCOMES NOT DERIVING FROM OPERATING ACTIVITIES AND NON-NON-RECURRINGRECURRINGRECURRING:

• € 5.9 MLN FROM THR IPO OF THE SUBSIDIARY SUBSIDIARY HOMIZY, HOMIZY,HOMIZY, booked directly to equity, without going through the profit and loss account

• € 5.6 MLN OF THE DOWNWARD ADJUSTMENT ADJUSTMENT, whose effect have already been fully implemented with the approval of the results of IQ 2022, DUE TO THE INCREASE THE INCREASE IN COSTRUCTION COSTRUCTION COSTS on the construction sites near to delivery, following the definition of agreements with the contractors of these construction sites aimed at supporting the production chain and ensuring the delivery of a quality product to customers without further delays in timing.

• € 0.8 MLN OF NOTIONAL COSTS arising from the application of IFRS 2 in relation to the stock grants allocated to the management.

EBT ADJ € 16.9 mln.

GROUP FINANCIAL DEBT

GROUP FINANCIAL DEBT

-

-

H	F
1	Y
2	2
0	0
2	2
2	1
€	€
9	7
2.	5.
4	1
M	M
L	L
N	N

• € 15.8 MLN disbursement for the purchase of new sites (net of advancepaymentsmadeinpreviousyears)
• € 27.8 MLN disbursement for production on the operations in progress

ON A LIKE-FOR-LIKE BASIS (net of investments for the purchase of new areas) FINANCIAL DEBT € 77 MLN

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D E B T A S AT 1 3 J U N E 2 0 2 2

EXPIRING IN 18 MONTHS

€ 5 MLN