UBM concludes with ꞓ200 million cash in 2024 and confirms preliminary numbers

• 199.5 million cash and equity quota over 29%

• Loss of over 40%reduced, – ꞓ23.2 million (result before tax)

• Total output by around 50%, sales increased by almost 25%

• Quadruple housing sales, over 400 units

• Dividend waiver as a precaution and solidarity with stakeholders

• Pipeline with 3,000 apartments in Austria, Germany and the Czech Republic

• Transformation year 2025: expected improvement compared to 2024

UBM Development AG (“UBM”) concludes the 2024 financial year with a solid liquidity of ꞓ 199.5 million. A division of apartment sales compared to 2023 and the successful sale of non-strategic assets have contributed to this result. Despite the persistently challenging market environment in the real estate sector, the result before tax – ꞓ23.2 million – could be improved by more than 40% compared to the previous year ( – ꞓ39.4 million). “We say what we do and do what we say,” emphasizes Thomas G. Winkler, CEO of UBM Development AG and “2024 was under the promise of liquidity with profitability and we have delivered accordingly”.

Divides

Supervisory Board and Board have jointly recommended that the distribution of a dividend is not required in the current situation. The elimination of the dividend is proposed to the Annual General Meeting as a precaution with regard to industry development and solidarity towards all other UBM stakeholders.

Solid financial position in the difficult market environment

At the end of the year, the UBM has ꞓ199.5 million of liquid funds. The successful placement of the second Green Bonds in October 2024 also brought fresh capital, but primarily served to smooth the repayment profile. The net debt was reduced by -10.6% and was at ꞓ 545.9 million (2023: ꞓ 610.2 million) on December 31, 2024. Despite massive collective salary increases in the past two years, the personnel expenditure in 2023 was reduced by -17.0 % and in 2024 by a remarkable -26.5 %. With a balance sheet total of ꞓ1,182.4 million, there is an equity rate of 29.1%with equity of ꞓ 343.7 million.

Sustainable pipeline living with a focus

The UBM has a portfolio of around 3,000 apartments that are currently in development or already in sales. With a development pipeline of ꞓ 1.9 billion, calculated by the end of 2028, the company sets clear priorities. The majority of the projects (over 90 %) are located in Germany and Austria, of which 58 % are living and 42 % of Light Industrial & Office. More than 300,000 m² are implemented or planning in wood hybrid construction and thus contribute to becoming the leading developer of timber construction projects in Europe.

outlook

For 2025, UBM expects a further improvement compared to 2024. In residential construction, the valley sole has passed, and the upswing of this asset class continues in all UBM markets. The first signals are also available in the Light Industrial & Office segment: the rising rental level and the growing number of companies that bring their employees back to the office indicate stabilization. On the basis of these developments, UBM expects a return to the profit zone in the course of the second half of 2025. Due to the ongoing volatility and difficult to predict market development, the company will initially dispense with a more concrete guidance for the 2025 financial year. Particular attention is still paid to a forward-looking cash management in order to keep the liquidity situation stable at any time.

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