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PRESENTATION OF RESULTS FOR THE FIRST half OF 2013. Table of contents. The most important events in the first half of 2013. Obtained permissions for the use of the following investments:
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The most important events in the first half of 2013 • Obtained permissions for the use of the following investments: • Obtained construction permits for the first stage of the Investment: Bliska Wola - Warszawa, building permits for I stage of Bliska Wola Investment – Warszawa, Kasprzaka street - 156 premises. • Postponent of payment terms of the bonds with a total value of PLN 200,7 mln: • The company has successfully carried out the issue of new bonds worth PLN 105.7 millions with maturing in January 2016. For the means from the issuance, JWCH purchased significant majority of the bonds issued in June 2010 in the total amount of PLN 130 millions for which the maturity would have taken place in June this year • Company also completed successfuly the negotiations with bondholders concerning the prolongation of bonds maturity date for bonds issued in April 2012 in the amount of PLN 95 mln dedicated to the cover of the part of price for the purchased plot at Kasprzata street in Warsaw. Thanks to this, the original maturity date falling in April 2015 has been extended to January 2016. • Total bonds redemption in the amount of 24.3 mln PLN.
The most important events in the first half of 2013 • Getting a loan and opening the closed escrow account for SPV-Seahouse Sp. z o.o. realizing an investment of Redłowo Residence in Gdynia in accordance with the provisions of the new development law. • Ending of the I edition of „Struggle for home” program, realized on Villa Campina housing development and broadcasted in TVN, where J.W. Construction Holding S.A. was a Partner. • Ending of the first external contract of J.W.C. Sp. z o.o. – the construction of Oxygen apartment building ( 45 Wronia street).
Factors that affect the the activity of the Company in the first half of 2013 • Thanks to the further reduction in interest rates, for the first time in history, PLN mortgage loans interest rates fell below 4%. • The revival on the mortgage loans market (increase in the number of credit agreements in the Q2 2013 by 6% in comparison to Q1 2013). • Announcement of the program: "Flats for youth" and "Fund of flats for rent". • Bigger interest in flats purchase for investment purposes. • Finished flats in Company offer in the segment of popular flats. • Change of the investment realization strategy - high flexibility of the organizational structures in relation to the market needs (General Contracting system). • Large competition on the market of contracting companies - building costs decrease. POSITIVE
Factors that affect the the activity of the Company in the first half of 2013 • Development law which makes it more difficult to among others fund new investments.Financial institutions are not prepared to co-finance designs in the light of new regulations. • Hold of development branch funding by some banks. • Lack of government program to support demand for flats in 2013. • Ending the "Family's Own Place" program resulted in some purchasers return to the secondary market. NEGATIVE
Sales of flats in the first half of 2013 • J.W. Construction Holding S.A., in Q2 2013 sold 205 premises. • In spite of no government support for developers, the sale has increased in Q2 by 45,4 % in comparison to the analogous period in the previous year * Data on sales include sales of "Oxygen” investment (34 premises in 2013 and 30 premises in 2012)
Chosen consolidated financial data for the first half of 2013 • Increase of profit from sale in the first half of 2013 by 17% in comparison to analogous period in previous year. • Decrease of net profit in the first half of 2013 by 40% in comparison to analogous period in previous year.
Chosen consolidated financial data for the second quarter of 2013 • Decrease of profit from sale in the second quarter od 2013 by 12% in comparison to the analogous period in the previous year • Decrease of net profit in the second quarter of 2013 by 86% in comparison to analogous period in the previous year.
Pre-tax sales profit vs Pre-tax sales marging • Margin in gross on sale within the long period of time is maintained at the level above 20%.
Realization of the gross profit from sale in the first half of 2013 • The level of gross profit earned from sales for the first half of 2013 is PLN 38.7 mil. Percentage ofdeveloper designs recognized in profit from sales: • Units recognized in the result of I half of 2012 vs. I half of 2013
Overheads vs employment 416 Number of people • Including employment in hotels: * 91 people ** 131 people *** 144 people
Premises (in pieces) in the offer to be recognized in the result of further quarters 230 sold premises Not transferred
Investments realized in the first half of 2013 • In the first half of 2013, a total of 1.304 premises with a total surface of 72.039 m2 and 36.328 m2 of useful surface on the commercial investment (at the "zero" level) were realized in residential investments * The investment is realized within the frames of General Contracting by JWC Sp. z o.o. company.
Investments planned to launch according to the condition on the 30th of June 2013 • During two years, on the basis of the land bank, the Copany is planning to launch the realization of more than 6.000premises: Investments in Warsaw and in the vicinity Red color was used to mark designs that are planned to be launched in 2013
Investments planned to be launch Investments beyond Warsaw Red color was used to mark designs that are planned to be launched in 2013
Strategy for next years Intensification of works related to the preparation of detailed design documentation and obtaining building permit Strenghtening the leadership among developers, both in Warsaw and within the whole country Strategic goals Activity concentration on the segment of residential investments Implementation of innovative sales solutions onto the market
The most important marketing events in the first half of 2013 • Distinction of Hotel CzarnyPotok Resort & SPA an emblem of Polish Exclusive 2013. • Introducing to the offer a new program of interiors decor: „Premium”, available in four versions: "White", "Black", "Cappucino" and "Orange". • Achieving sales and image effects thanks to the participation in the I edition of „Struggle for home” as a basis to continue the cooperation: In August 2013, the second edition of „Struggle for home” was started with the participation of J.W. Construction Holding S.A. This time, within the frames of the program, pictures are realized in the Zielona Dolina investment.
Marketing and sale policy in the first half of 2013 • Focusing the marketing and adevertising strategic actions on the internet marketing field. • Leading campaigns directed on the sale of premises that are fully ready to be occupied in Warszawa, Ożarów Mazowiecki and Łódź. • Continuation of sponsoring action, directed to the promotion of Company investment and strenghtening its image – concluding agreement concerning the realization of TVN’s program – „Struggle for home” in Zielona Dolina investment. • Preparation to lead the Oxygen Residence program for Oxygen investment. Oxygen Residence service makes it possible to use the complex program of rent management. This is a proposal for investors and the added value for apartment building occupants - possibility to use premium services, as for example concierge.
Thank you for your attention INVESTOR RELATIONS: Małgorzata Szwarc-Sroka Economy Division and Investor Relations Office HeadJ.W. Construction Holding S.A. Member of the Management Board of J.W. Construction Sp. z o.o. phone: 22 771 77 85e-mail.: relacje.inwestorskie@jwconstruction.com.pl
