Stop parsing PDFs. Get the API. Request Access

AI Terminal

MODULE: AI_ANALYST
Interactive Q&A, Risk Assessment, Summarization
MODULE: DATA_EXTRACT
Excel Export, XBRL Parsing, Table Digitization
MODULE: PEER_COMP
Sector Benchmarking, Sentiment Analysis
SYSTEM ACCESS LOCKED
Authenticate / Register Log In

Abitare In

Investor Presentation • Sep 27, 2023

4293_rns_2023-09-27_c14eca67-ba27-4c0c-b127-745b0451ad70.pdf

Investor Presentation

Open in Viewer

Opens in native device viewer

Table of contents

Group Overview

AbitareIn at a glance

LEADING PLAYER IN URBAN REGENERATION INITIATIVES

  • • AbitareIn specializes in the development of residential property projects which meet modern needs of households in terms of lifestyle, spaces and greenareas.
  • • Founded in 2015, AbitareIn has become the major player in the Milan residential property development market.
  • • The group mainly addresses families looking for their first home, targeting locations in the semi-central andsemi-peripheral areas of the city of Milan.

CORPORATE HIGHLIGHTS

Strategic positioning in large and growing market

Unique value proposition through digitalization

Full oversight of key stages of the value chain

ESG value of urban

Investment thesis

a

ABITAREIN AS THE ETF OF RESIDENTIAL DEVELOPMENT INMILAN

Investing in AbitareIn means investing in a basket of carefully selected, high-quality residential real estate projects and inproven platform capable of delivering them.

Compared to investing in a single project, investing in AbitareIn provides easy and fast diversification with the comfort of a strong trackrecord, execution capacity and a solid future pipeline.

d g
ke
La
in
t
rg
e a
n
ro
w
g
m
ar		 lan
ha
d
ly
de
l
ke
dr
by
fu
da
ls
i
i
ing
i
ia
ive
M
te
t
t
tro
ta
s
a
s
a
g
ro
re
s
n
m
ar
n
s
ng
n
m
en
w
l
i
d
ip
l
in
So
p
e
e		 b
ha
de
lo
d
l
d
l
h
h
b
le
fu
h
A
i
In
i
ip
ine
ic
ina
ta
te
ta
tu
t
re
s
ve
p
e
a
so
p
e
w
g
ua
ra
n
es
su
s
re
g
ro
w
be
d
ba
E
S
G
io
t
y
on
ur
n
re
g
en
er
a
n		 fy
f
's
fa
f
Sa
is
he
ho
ing
de
d
da
i
l
ies
by
ing
i
ive
l
i
ies
be
i
ing
he
t
t
to
t
t
te
t
t
t
us
m
an
o
y
m
cr
ea
p
os
ex
rn
a
ne
d
ing
iro
d
ie
t
ty
su
rro
un
en
v
nm
en
an
so
c
"C
l
ize
d
" g
tm
ta
tr
tu
om
p
ar
en
ro
up
s
uc
re
(
j
h
ic
le
)
t o
on
e p
ro
ec
ne
ve		 l
l
ke
ho
l
fo
b
l
f
h
de
d
i
i
j
I
t
to
ta
tra
ta
ty
t
en
su
re
s
a
s
rs
ns
p
ar
en
cy
an
p
er
rm
an
ce
ac
co
un
o
ea
c
p
ro
ec
Sa
le
io
io
to
tr
t
p
r
r
co
ns
uc
n		 do
be
l
he
br
k-e
he
d
k
d
l
Co
io
in
i
j
is
in
im
iz
ing
is
i
tr
t
t
t
t
t
ta
ns
uc
n
es
no
g
un
p
ro
ec
ea
ve
n
re
ac
m
r
an
ca
p
d
ire
re
q
u
f c
ha
d
Ou
in
io
ts
tr
t
ou
rc
g
o
on
s
uc
n
p
se
a
n
h
h
lev
l o
f a
ig
iv
i
d
in
io
t
ty
t
e
c
co
or
a
n		 f
de
l
d
ha
h
le
he
f
hn
log
h
h
Ou
ing
i
io
io
i
ig
ts
t
tr
t
t
te
te
ou
rc
o
m
o
n
an
co
ns
uc
n
p
se
s
w
us
e
o
c
o
y
g
ua
ra
n
es
a
lev
l
f
l
f
f
h
le
f
lex
b
l
iv
i
d
ina
io
im
iz
ing
io
ic
ien
i
ing
de
ig
i
i
i
t
ty
t
t
ty
e
o
ac
co
or
n
m
ax
op
er
a
na
e
cy
w
en
su
r
s
n
d
la
fo
In
te
te
t
g
ra
e-
co
m
m
er
ce
p
rm		 d
br
d
lue
I
im
ize
ien
t
to
te
m
ax
s
cu
s
m
er
ex
p
er
ce
an
cr
ea
s
an
va

ESG value beyond urban regeneration

The aim of AbitareIn is to satisfy the housing demand of today's families by adopting an innovative and scalable industrial business model. As a developer dealing with urban regeneration projects, AbitareIn's business is intrinsically linked to sustainability.

Business diversification

AbitareIn core business is residential property development in Milan. Nevertheless, the company is establishing new strategic lines of businessto create value by exploiting market opportunities.

BUILD TO RENT: HOMIZY

Founded in 2019, Homizy is a SIIQ 70% owned by AbitareIn, listed in 2021 on Euronext Growth.

Built-to-share business model: development and rental of residential properties

Young people, aged between 20 and 35 looking for a living solution that guarantees efficiency, innovative services and spaces for socializing

PARTNERSHIP WITH OTHER DEVELOPERS

ROME RESIDENTIAL MARKET

Joint residential development project in Rome 1 to exploit upcoming market opportunities given by the rising demand, new international attention and reduced market risks

SERVICES PROVIDER

"Corte dei Principi" development project in Milan. Project of Techbau, AbitareIn acts as service provider making profit from service fees.

  1. The transaction sees the participation of both companies in the share capital of the operating vehicle, for the development of a residential operation of about 70 apartments in the EUR area.

Market Opportunity

Italian real estate market

High ownership rate

Low debt-to-income ratio

Margin for price growth

Constant volumes' growth

Need for new housing

Source: Assoimmobiliare

    1. A survey conducted by Nomisma in May 2022 identifies energy efficiency as the primary driver of housing demand (40% of preferences)
    1. Standards should be based on harmonized energy performance classes. The lowest energy performance class G will be defined as the worst-performing 15% of each Member State's national building stock
    1. Specific classes of dwellings such as historic ones are excluded from the obligations under the new EPBD

Milan: steadily growing market

  1. Population in Milan accounts for ca. 2,3% of national total population

Milan: dynamic market

Milan: strong fundamentals…

Fonte: Istat, OMI

POPULATION AND AVERAGE TAXABLE INCOME VARIATION- 2012VS 2021

ly
I
ta		 2
i
lan
M
la
ion
Po
t
p
u		 %
-0
3
,		 %
1
2,
6
+
Av
inc
er
ag
e
om
e		 1
0,
8
%
+		 1
7,
4
%
+

Source: Istat, Mef

  1. Source: Mef

  2. Milan municipality

…drive sustainable growth

FEASIBLE PRICE-TO-INCOME RATIO

Source: UBS

  1. The index score is a weighted average of five standardized city sub-indices: price-to-income and price-to-rent, change in mortgage-to-GDP ratio, change in construction-to-GDP ratio and relative price-city-to country indicator

Projects Pipeline

Click the link to watch the multimedia content: watch the video

Pipeline at a glance

BEST AND LARGEST PIPELINE OF PROJECTS INMILAN

Projects

PR
OJ
EC
T		 CO
NS
TR
UC
TIO
N S
TA
TU
S		 CO
MM
ER
CIA
LIS
AT
ION		 ST
D U
NIT
S		 DE
LIV
ER
IES		 NO
TE
S
bit
A
In
Po
ste
are		 let
d
Co
mp
e		 l
d
So
Ou
t		 80 10
0%
bit
io
lina
A
In
M
are
agg		 let
d
Co
mp
e		 l
d
So
Ou
t		 15
8		 0%
10
lim
de
O
ia G
p
ar
n		 let
d
Co
mp
e		 l
d
So
Ou
t		 16
1		 10
0%
Mi
lan
o C
ity
Vi
l
lag
e		 Co
let
d
mp
e		 So
l
d O
ut		 22
3		 96
%
laz
lio
Pa
Na
vig
zo		 let
d
Co
mp
e		 l
d
So
Ou
t		 74 93
%
Tri
log
To
y
we
rs		 let
d
Co
mp
e		 l
d
So
Ou
t		 14
2		 %
90
lio
de
Po
Na
vig
Gr
rta
an		 de
Un
ion
str
uct
r c
on		 l
d
So
Ou
t		 75
he
its
T
Un		 de
ion
Un
str
uct
r c
on		 So
l
d
Ou
t		 11
Sav
a 1
05
on		 lis
he
d
De
mo		 de
lisa
Un
rci
tio
r c
om
me
a
n		 23
6
l
du
dic
Ba
cci
o D
i
o		 lis
he
d
De
mo		 k e
**
Bre
a
ve
n		 65 **G
rall
din
the
ba
nk
g to
ene
y co
rres
pon
f 70
% o
mic
al b
k ev
nt o
cov
ena
r ec
ono
rea
en
poi
nt
bra
lac
Lam
Tw
in
Pa
te
e		 de
Un
ion
str
uct
r c
on		 k e
**
Bre
a
ve
n		 85 **G
rall
din
the
ba
nk
g to
ene
y co
rres
pon
f 70
% o
mic
al b
k ev
nt o
cov
ena
r ec
ono
rea
en
poi
nt
Pa
laz
Sin
tes
zo
y		 *
Un
de
ion
str
uct
r c
on		 Un
de
rci
lisa
tio
r c
om
me
a
n		 15
8		 * St
d w
ork
ad
atio
f ex
istin
arte
apt
on
n o
g
bas
ent
em
s
Fri
ia7
g		 lis
he
d
De
mo		 de
lisa
Un
rci
tio
r c
om
me
a
n		 67
lio
Co
Na
vig
rte		 l R
dia
Env
iro
tio
ta
nm
en
em
e
n		 de
lisa
Un
rci
tio
r c
om
me
a
n		 14
1
Pa
laz
Gr
zo
e		 De
lis
he
d
mo		 Un
de
rci
lisa
tio
r c
om
me
a
n		 31
cit
Ta
o 8		 lis
he
d
De
mo		 Po
Ro
rta
ma
na		 83
Vig
tin
en
o		 de
de
lop
Un
nt
r
ve
me		 Po
Ro
rta
ma
na		 48
9
Ac
rsio
cu		 de
de
lop
Un
nt
r
ve
me		 l
lo
Po
rte		 13
8
Bis
lie
ceg		 Un
de
de
lop
nt
r
ve
me		 Bis
lie
ceg		 14
9
Gr
eco		 de
de
lop
Un
nt
r
ve
me		 Gr
eco		 15
2
Co
tto
rve		 de
de
lop
Un
nt
r
ve
me		 Co
tto
rve		 17
7
l
lon
Gr
i
i		 de
de
lop
Un
nt
r
ve
me		 da
Nig
ua
r		 39
5

Completed

Completed

Completed

  1. Started work on adaptation of existing basements

Divested projects

significant

Projects under development

j
Pr
t
o
e
c
s		 i
S
T
D
U
t
n
s		 ha
in
Pu
t
tu
rc
s
g
s
a
s		 ho
is
io
Au
t
t
r
a
n		 io
C
t
t
o
ns
ru
c
n
Ta
i
8
to
c		 8
3		 l
de
d
F
in
a
e		 de
de
Un
ig
r
s
n		 l
he
d
De
is
m
o
ig
in
V
t
en
o		 8
9
4		 d
lm
is
in
Re
te
g
re
p
re
ar
y		 de
de
ig
Un
r
s
n		 f
l
d
Gr
ie
ee
n
Ac
io
cu
rs		 1
3
8		 l
de
d
F
in
a
e		 l
im
in
Pr
e
ar
y
ho
(
)
Au
isa
io
4
0
t
t
t.
r
n
ar		 f
l
d
Br
ie
ow
n
isc
l
ie
B
eg		 1
4
9		 in
l
de
d
F
a
e		 de
de
ig
Un
r
s
n		 f
ie
l
d
Br
ow
n
Gr
ec
o		 1
5
2		 d
l
Re
is
im
in
te
g
re
p
re
ar
y		 de
de
Un
ig
r
s
n		 f
l
d
Br
ie
ow
n
Co
t
to
rv
e		 1
7
7		 in
l
de
d
F
a
e		 de
de
ig
Un
r
s
n		 f
ie
l
d
Br
ow
n
l
lo
Gr
i
i
n		 3
9
5		 d
l
is
im
in
Re
te
g
re
p
re
ar
y		 de
de
Un
ig
r
s
n		 f
l
d
ie
Br
ow
n

Corporate Financial Performance

Key accounting numbers

1 2
0
2
F
Y
1		 1
2
0
2
2
F
Y		 1
Q
3
2
2
Y
t
o		 1
Q
3
2
3
Y
t
o
&
P
L		 f
l
R
S
e
v
e
n
u
e
s
r
o
m
a
e
s		 5
0,
4
M
L
N
€		 2
0,
6
M
L
N
€		 1
9.
3
M
L
N
€		 1
9
8.
9
M
L
N
€
l
f
T
t
o
a
r
e
v
e
n
u
e
s
r
o
m
2
i
i
i
i
t
t
t
o
p
e
r
a
n
g
a
c
e
s
v		 1
2
4,
8
M
L
N
€		 1
2
2,
2
M
L
N
€		 1
0
3.
7
M
L
N
€		 9
9.
6
M
L
N
€
E
B
I
T
D
A		 1
8,
3
€
M
L
N		 1
6,
1
€
M
L
N		 1
2.
9
€
M
L
N		 3
3.
6
€
M
L
N
E
B
T		 1
6,
7
M
L
N
€		 1
1,
2
M
L
N
€		 9.
7
M
L
N
€		 2
5.
2
M
L
N
€
f
i
N
P
t
t
e
r
o		 1
2,
2
M
L
N
€		 7,
9
M
L
N
€		 5.
7
M
L
N
€		 2
2.
8
M
L
N
€
1
F
Y
2
2		 1
Y
Q
3
2
3
t
o
B
S		 i
d
i
l
N
t
t
t
e
n
v
e
s
e
c
a
p
a		 1
4
7,
9
M
L
N
€		 2
1
2,
2
M
L
N
€		 2
1
2.
2
M
L
N
€		 1
6
4.
1
M
L
N
€
N
F
P		 7
5,
1
M
L
N
€		 1
1
6,
2
M
L
N
€		 1
1
6,
2
M
L
N
€		 4
4.
9
M
L
N
€
i
E
t
q
u
y		 2,
8
€
7
M
L
N		 9
6,
0
€
M
L
N		 9
6,
0
€
M
L
N		 9.
3
€
1
1
M
L
N

  1. FY = fiscal year closing on September 30th; Q3 = third quarter closing on June 30th

  2. Total revenues from operating activities = Revenues from Sales +/- Changes in inventory of work in progress +/- Change in inventory of new areas purchased + Other revenues

Revenues

'2
Y
Q
3
3
to
f
les
Re
Sa
ve
nu
es
ro
m		 1
9
8.
9
M
L
N
€
ha
in
inv
f
k
in
C
to
ng
es
en
ry
o
wo
r
p
ro
g
res
s		 (
)
1
1
7.
1
M
L
N
€
ha
f
C
in
inv
to
ng
e
en
ry
o
ne
w
ar
ea
s
ha
d
p
ur
c
se		 2,
L
€
5
M
N
he
O
t
r r
ev
en
ue
s		 1
5.
1
M
L
N
€
l r
f
ing
To
ta
t
ev
en
ue
s
ro
m
op
er
a
iv
i
ies
t
t
ac		 9
9.
6
M
L
N
€

COMMENTSYTOQ3 23

  • • Sharp increase of revenue from sales, deriving from the notarial deeds for the real estate units of Milano City Village, PalazzoNaviglio and Trilogy Towers and from the conclusion of the via Cadolini operation
  • • 117.1 MLN€ total negative change in inventory of work in progress, due to the handover of the apartments to customers and of sale of via Cadolini area. The construction progress is equal to € 53.2
  • • 15.1 MLN€ of other revenues include increases in property, plant and equipment for works in progress relative to investments inreal estate intended for lease (co-living) in the subsidiaries

EBITDA and Net Profit

COMMENTSYTOQ3 '23

  • • Both EBITDA and Net profit sharply increased in Q3 2023 thanks to the conclusion of the via Cadolini operation and th eacceleration of work on the construction sites being delivered.
  • • Performance in 2022 was impacted by higher construction costs, but company performance is strongly bouncing back in 2023thanks to positive commercial performance.

Financial debt

COMMENTSYTOQ3 23

Net financial position as of June 30, 2023 amounted to 44.9 MLN€ (compared to 116.2 MLN€ as of 30 September 2022). The significant decrease is mainly attributed to the cash receipts from the notarization of real estate units in Milano City Village, Palazzo Naviglio, andTrilogy Towers, the conclusion of the Via Cadolini operation, and the deposits and advances received related to preliminary sales contracts of marketed projects, against the progress of construction with total investments of €69.3 million, and the purchase of newareas for €13.9 million (net of deposits paid in previous periods).

More from Abitare In

Report Publication Announcement 2025
Dec 29
Report Publication Announcement 2025
Dec 29
Annual Report 2025
Dec 29
Remuneration Information 2025
Dec 29
Annual Report 2025
Dec 29
AGM Information 2025
Dec 22
AGM Information 2025
Dec 22
AGM Information 2025
Dec 22
AGM Information 2025
Dec 17
Earnings Release 2025
Dec 11
View all filings →

Talk to a Data Expert

Have a question? We'll get back to you promptly.