The Company's presentation Warsaw, March 2016
Key figures 227,541 K PLN #1 4 about 1000 plants manufacturing value of the order Leader of the market of reinforced concrete people working portfolio 2 reinforced concrete prefabricated elements in the Capital Group 1 as on 31 Dec 2015 prefabricated elements (Poznań, Bielsko Biała, in Poland Gdańsk, Mszczonów) 350,396 K PLN 29,853 K PLN 17,747 K PLN -13,100 K PLN adjusted 3 adjusted 5 sales revenues in 2015 net debt in 2015 6 EBITDA in 2015 net profit in 2015 35,759 K PLN 22,531 K PLN EBITDA in 2015 4 net profit in 2015 (1) Including cooperating ones, as on 31 Dec 2015 (2) It refers to contract orders for prefabricated elements and construction services (3) EBITDA - operating profit increased by depreciation and reduced by profit from an occasional purchase in the amount of 5,906 K PLN (4) EBITDA - operating profit increased by depreciation (5) Net profit reduced by net profit from an occasional purchase (6) Net debt means a difference between interest-bearing debt (loans and leasing) and cash and cash equivalents
Very good results in 2015 A visible increase in revenues, EBIT, EBITDA and profit after taxation Sales revenues, EBITDA, EBITDA profitability (2) gross sales profitability (1) (thousand PLN, %) (thousand PLN, %) 350 396 35 759 29 853 328 233 23 838 8,5% 17,7% 7,3% 15,9% 2014 2015 adjusted 2015 2014 2015 Operating profit, Net profit, net sales profitability (4) operating profitability (3) (thousand PLN, %) (thousand PLN, %) 22 531 28 963 17 747 23 057 15 850 19 751 6,6% 5,1% 4,8% 6,0% 2014 2015 adjusted 2015 2014 2015 adjusted 2015 (1) Gross sales profitability defined as gross profit from sales divided by sales revenues (2) EBITDA profitability as the sum of operating profit and depreciation divided by sales revenues (3) Operating profitability as the quotient of operating profit and sales revenues (4) Net sales profitability as net profit divided by sales revenues
Very good results in 2015 Maintaining the net debt ratio below zero and further improvement of the balance sheet position of the Group Net debt (1) Fixed assets (thousand PLN) (thousand PLN) 174 426 -13 100 110 869 -27 229 2014 2015 2014 2015 Cash flow from operations (2) Equity (thousand PLN) (thousand PLN) 177 330 29 853 23 838 128 137 14 560 9 821 2014 2015 2014 2015 Net cash from operations EBITDA adjusted (1) Net debt is a difference between the total debt ratio and cash and its equivalents (2) EBITDA adjusted - operating profit increased by depreciation and reduced by profit from an occasional purchase
Sales revenues Manufacturing prefabricated elements as a leading segment (‘contracts – prefabricated elements’), generating a large part of rev enues Sales revenues per segment* (thousand PLN) 2014 – 2015 + 24.5% + 10.2% 354 251 321 570 237 558 190 763 + 14.9% - 24.2% - 70.2% 77 943 67 779 43 467 32 929 19 560 5 822 Contracts - prefab elements Contracts - construction services Manufacturing services The other Total 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 A considerable decrease in ‘The other’ segment results mainly from transactions excluded from consolidation due to incorporat ing CNP into the Group. In 2014, the sales of raw materials and materials to CNP was a significant element of this segment. * In 2014, revenues not assigned to the segments were not taken into consideration.
Operating results per segment Maintaining the profitability ratio of the segment operating result in total with nominal growth by 18% Segment operating result, segment operating result profitability (1) (thousand PLN, %) 2014 2015 26,2% 19,8% 11,7% 10,5% 7,7% 7,2% 10,8% 9,9% 9,8% 2,3% 1 154 37 137 2 552 5 628 5 124 31 505 27 803 4 295 1 572 20 515 Contracts - prefab Contracts - Manufacturing services The other Total Contracts - prefab Contracts - Manufacturing services The other Total elements construction services elements construction services (1) Segment operating result profitability calculated as the quotient of the segment operating result and the segment sales revenue
Sales revenues Poland as a leading sales market, with a high dynamics of growth, stable revenues from the German market and growing sales in the Scandinavian market Sales revenues per geographic area* (thousand PLN) 2014 – 2015 + 10.2% 354 251 + 7.7 % 321 570 264 331 245 319 + 39.1% - 6.5 % 56 767 40 806 35 445 33 153 2014 2015 2014 2015 2014 2015 2014 2015 Poland Scandinavia Germany Total * In 2014, revenues not assigned to the segments were not taken into consideration.
Selected stock exchange indices Maintaining the ROE index at the desired level, a noticeable improvement in the ROA index ROE index (1) (%) 12,70% 12,36% 2014 2015 ROA index (2) (%) 7,07% 6,20% 2014 2015 (1) The index calculated as the ratio of net profit to equity (2) The index calculated as the ratio of net profit to the sum of assets
A consistent production growth Since the moment when the current shareholders took control, the Pekabex Group has been systematically increasing its manufacturing capacities and production. The purchase of Kokoszek Prefabrykacja (a plant in Gdańsku ) has increased its manufacturing capacities since May 2015. Production (thousand m 3 ) – the Pekabex Group - Production in total (thousand m 3 ) 100,0 40.5 49.5 52.6 71.3 76.7 80,0 8,8 13,7 12,3 60,0 57,6 55,6 7,4 4,6 45,2 44,9 40,0 40,5 20,0 0,0 2011 2012 2013 2014 2015 Poznań Bielsko-Biała Gdańsk * Until 2014 – production for the Pekabex Group together with CNP
Selected essential contracts completed in 2016 ‘Branddörren - ‘ Garnison ‘ Nytt Barnsjukhus- Stockholm-Sweden ’ Helikopterhangar Göteborg -Sweden ’ Ronneby-Sweden ’ The contract value: 15,770 K PLN The contract value: The contract value: 32,200 K PLN 15,770 K PLN ‘Twardogóra ‘Lech Świątek’ ‘ Furiren- Production and Stockholm-Sweden ’ Assembly Hall’ The contract value: 16,112 K PLN The contract value: The contract value: 11,435 K PLN 13,920 K PLN
The large order portfolio The Group systematically builds a strong and diversified order portfolio, which is going to occupy the production department in the next periods. In 2015, the Grupa Pekabex for the first time obtained contracts with delivery time longer than one year. Value of the order portfolio – including solely contract sales 1 (million PLN) Contract sales to be carried out next year Contract sales to be carried out in 2017-2018 228 49 179 140 108 93 31.12.2012 31.12.2013 31.12.2014 31.12.2015 Backlog – the aggregate value of the contracts signed for the Pekabex Group, which were concluded with a specific date; it doesn’t take into account any contracts planned but not concluded yet; The final contract revenues depend on many factors out of control of the Group; The value of the order portfolio divided into individual periods/years, which results from the payment schedules mentioned in the contracts, assumes timely contract execution, including the lack of delays and other unforeseeable events that could affect the execution of this contract. 1 – It takes into account contract sales: segments: contract execution – prefabricated elements and contract execution – construction services
Selected essential contracts signed in 2016 The Framework Agreement ‘ Kv Kvarnbacken Norrköping - with Veidekke Entreprenab AB Sweden ’ The estimated value of future orders to be The contract value: 54,236 K PLN executed in 2016 – 2018 118,000 K PLN ‘ Olivia 5 – annex ’ The contract value: 69,627 K PLN (increasing the contract value by 52,478 K PLN)
Purchasing a plant in Mszczonów ERGON – purchase of an enterprise (15 Jan 2016) Subject of purchase: Manufacturing plant in the Mszczonów district near Warsaw Net selling price: 45,100 K PLN (increased by the net value of stocks: 4,429,119.16 PLN) - Taking over a modern plant - Strengthening the leader ’s position in the domestic market - Increasing the total production capacities by about 50 thousand m3 a year - Intensification of sales in the central and eastern part of Poland - Optimizing the costs, e.g. transport costs - Taking over specialized personnel – about 170 people - The value of the taken-over order portfolio: 21,951 K PLN
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