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Lamda Development S.A. AGM Information 2025
2660_rns_2025-06-27_39271cc1-2b72-4758-8fca-2fb6ab9a1155.pdf
AGM Information
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Τακτική Γενική Συνέλευση
Ordinary General Meeting
26.06.2025
+30 210 33.66.426 [email protected]
Group Balance Sheet Snapshot | December 31, 2024
No bank debt used to date for The Ellinikon, highlighting strong pre-sales and self-funding capacity.
Total Cash Proceeds of €1.2bn, with €589m collected in 2024 alone
Investment Assets O2 Malls
The Ellinikon Retail & Entertainment Destinations
Investment Assets O2.1 Marinas
Marinas: A record-breaking performance across all metrics
| 12
Flisvos Marina
R: 0 G: 87 B: 140
R: 0 G: 203 B: 234
R: 162 G: 105 B: 255
R: 255 G: 129 B: 134
R: 255 G: 66 B: 47
R: 255 G: 125 B: 0
R: 255 G: 190 B: 0
R: 177 G: 182 B: 149
R: 209 G: 191 B: 154
R: 0 G: 151 B: 75
R: 0 G: 160 B: 160
R: 5 G: 116 B: 154
R: 3 G: 60 B: 88
R: 0 G: 31 B: 70 EBITDA (+15% vs. 2023)
Revenues (+14% vs. 2023)
100%
occupancy
Marinas: A record-breaking performance across all metrics
R: 0 G: 87 B: 140
R: 0 G: 203 B: 234
R: 162 G: 105 B: 255
R: 255 G: 129 B: 134
R: 255 G: 66 B: 47
R: 255 G: 125 B: 0
R: 255 G: 190 B: 0
R: 177 G: 182 B: 149
R: 209 G: 191 B: 154
R: 0 G: 151 B: 75
R: 0 G: 160 B: 160
R: 5 G: 116 B: 154
R: 3 G: 60 B: 88
R: 0 G: 31 B: 70
Agios Kosmas Marina
€5m
EBITDA (+2% vs. 2023) €8m Revenues (+5% vs. 2023)
berths
100%
occupancy
Corfu Mega Yacht Marina
R: 0 G: 87 B: 140
R: 0 G: 203 B: 234
R: 162 G: 105 B: 255
R: 255 G: 129 B: 134
R: 255 G: 66 B: 47
R: 255 G: 125 B: 0
R: 255 G: 190 B: 0
R: 177 G: 182 B: 149
R: 209 G: 191 B: 154
R: 0 G: 151 B: 75
R: 0 G: 160 B: 160
R: 5 G: 116 B: 154
R: 3 G: 60 B: 88
R: 0 G: 31 B: 70
| 14
Over €140m Investment towards creating The new Yacht Destination in the Ionian
Signed 40-year sub-concession for Corfu Mega Yacht Marina, a >€50M investment, expanding our footprint.
Development Assets O3 The Ellinikon
The Ellinikon Phase I Projects
The Ellinikon O3.1 Commercial Progress
All Coastal Front units have been sold-out Total Contractual Value of € 1.1 bn
The Cove Villas
27
Units
100% Of the units under SPA or final stages of negotiation
The Cove Residences
Units
115 100% Of the units under SPA or final stages of negotiation
6 New Developments consisting of some 560 mid-scale to luxury apartments have been launched as part of the "Little Athens" neighborhood
Park Rise Pavilion Terraces Promenade Heights
Sunset Groves
Atrium Gardens Trinity Gardens
Outstanding pre-sales progress
85% of units brought to the market already reserved
✓ Construction Challenges
Weak Construction Market
Biggest challenges remain Infrastructure and Riviera Tower
✓ Addressing Challenges & Building Construction Expertise
Developed internal Construction Business Unit "CBU" and improving margins on new projects
CBU projects are ahead of schedule
Significant construction progress for Little Athens
CBU | Promenade Heights – On track for December 2026 completion
CBU | Cove Residences – On track for June 2026 completion
| 22 June 2025
The Ellinikon O3.2 Construction Progress Update
| 23
Riviera Tower | Construction Progress
Cove Residences | Construction Progress
Promenade Heights Construction Progress
Park Rise Construction Progress
Riviera Galleria | Construction Progress
Sports Park | Construction Progress
Sports Park | Construction Progress
The Ellinikon Benefits to the Society
The Ellinikon Park
The Ellinikon Park
TheEllinikon promenade | Coastal Front
The Ellinikon Sports Park
Athens Olympic Sports Centre (OAKA)
Olympic Facilities in Paiania
Olympic Facilities in Paiania
Olympic Village Sports Complex
Historical Performance | Significant potential upside
➢ Global listed peers are trading at notable discounts to NAV
➢ Historically high interest rates have impacted real estate valuations
➢ Large real estate development projects out of favor
✓ COVID
- ✓ Ukraine war
- ✓ Middle East & other geopolitical challenges
- ✓ Increasing interest rate environment
- ✓ Inflationary pressures
- o Materials cost increases
- o Energy cost increases
- ✓ Construction market supply & demand Imbalances
LAMDA has faced significant obstacles to date
While Building an Organization to complete Europe's largest urban regeneration project
Decisions are a Balancing Act Impossible to please All Constituents All of the time
Unmatched track record of growth with 7 years of profitability records
Significant built-in growth with the 2 new Ellinikon Malls
Expected to double EBITDA
Heads of Terms
64% of The Ellinikon Mall
Unmatched track record of growth of profitability
Significant upside after renovation of Ag. Kosmas Marina
Further built-in growth with the development of the Corfu Marina
8% for 2024 8% for 2023
The New Yacht Destination in the Ionian
Outstanding Commercial Success with Ongoing Demand
Strong Balance Sheet with over €0.6bn of cash as of May 30, 2025
Over €1.2 billion of sales proceeds to date
Little Athens 85% of launched units sold
Net LTV of
15% as of May 30, 2025 NO BANK DEBT USED for Residential Developments
LAMDA Development
A company with unmatched Execution & Expertise in:
- ✓ Strategic Transactions
- ✓ Permitting Planning Legal
- ✓ 360 Commercialization Services
- ✓ Communications & Corporate Marketing
- ✓ Operating Excellence in Malls & Marinas
- ✓ Development & Construction being developed
… to be followed by Property & Facility Management
LAMDA is not only developing The Ellinikon but also building Expertise
that will generate multiple Revenue Streams
