Abitare In S p A : Evento Borsa Italiana 19 giugno 2023

ABITAREIN

Milano, June 19 2023

P RO J EC T S U N D E R D E V E LO P M E N T I N M I L A N : O U R P I P E L I N E

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THE PIPELINE IN FIGURES

Ahead of the market and in absence of competitors, accelerated by distressed assets and NPLs, in just 7 years we have implemented the best and largest pipeline of projects 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

OPERATIONS UNDER DEVELOPMENT*

258,0003-4 sqm

NET SALEABLE AREA

1.1 BN €7

TOTAL REVENUES OF PIPELINE

580 €/sqm

NET SALEABLE AREA PURCHASE COST

ORDER BOOK

470	1	262.7 mn €
	ORDER BOOK VALUE
APARTMENTS
3322	73 mn €
PRELIMINARY AGREEMENTS	FORMALLY AGREED
SIGNED	CUSTOMER DEPOSITS

2,8621-5

APARTMENTS

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PROJECTS

*already updated with the future disposal of the via Cadolini ex Plasmon operation (550 standard units)

Notes:

1) No. of apartments, considering an aver age surface area of 92 m2 for

standard units and 82 m2 for social housing. The actual number of

apartments built and for which contr acts have been signed - without

prejudice to the combined floor area (m2) - may vary depending on the

custom size of the real estate units.

2) May differ from the no. of apartments depending on the actual size of

the apartments sold. In the most recent transactions, AbitareIn has

noted a significant and progressive increase in the average size of

apartments sold.

3) Includes 12,800 m2 of net saleable area - equal to 140 standard

apartment units - currently being assessed for development into co-

living units

through the subsidiary Homizy S.p.A.

4) Of which 7,800 m2 of net saleable area of social housing.

WORK PROGRESS

3551

APT. UNDER

CONSTRUCTION

201 mln €

DELIVERY (OUT OF PIPELINE)

6961

DELIVERED APARTMENTS

243 mln €

5)	Of which 96 social housing apartments.
6)	Building works can be started in 12 months
7)	Value update to the current average selling price

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GROUP STRUCTURE AND DEBT

A project, a vehicle, a bank. Compartmentalization of money flows. First we sell, then we build. Construction does not begin until the project break-even is reached, so the "work progress loan", although deliberated, is not drawn down, thus sterilizing any debt-related risk.

This allows us to reduce our financial debt, in less than 12 months, by almost € 120 Mn.

HOLDING

100%100%

• Listed on the STAR segment
• Holds the know-how and brand, which provides to vehicles via service contract
• Gives onerous shareholder loans to vehicles
• Revenues from the sale of services to participated companies and, as of today, to selected external partners, and dividends from subsidiaries
• Only € 26 Mn of debt, against cash of 35 Mn

					Customer Deposits
100%	100%	M €			Mortgage
				AbitareIn loan

Production curve

Payment's curve

VEHICLES

• Own the projects
• Take on exclusively long-termdebt with land loans counter- secured by a mortgage on the property, which are

fractionated on the individual apartment and taken over						Months
by the client at the final deed
• Sign contracts and commitments with customers and	Feasibility and sales	24	Construction	Delivery
suppliers

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CONSOLIDATED REVENUES

1H 2023

1H 2022

€ 76.7 MLN € 66.4 MLN

CONSOLIDATED REVENUES

• € 129.3 MLN: REVENUE FROM SALES, deriving from the notarial deeds for the real estate units of Milano City Village and Palazzo Naviglio and from the conclusion of the via Cadolini operation
• € - 69.6 MLN of negative CHANGE IN INVENTORY FOR PROGRESS OF WORKS, due to discharge due to the handover of the apartments to customers and of the via Cadolini area. Production progress amounts to € 38.1 mln
• € 2.5 MLN of CHANGE IN INVENTORY FOR NEW AREAS PURCHASE
• € 14.3 mln of OTHER REVENUES wich mainly include deferred costs related to investments in real estate buldings for rent in the co- living formula by the subsidiary Homizy SIIQ S.p.A.

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