Neinor Homes has just released the results for the period ended September 30^th, 2018. Highlights of the quarterly results:

• Deliveries

• 2018: 9 sites/474 units delivered YTD as projected. On track to deliver 500+ units in Q4
• 2019: all 31 sites WIP progressing as per plan: 1,100+ units beyond façade works
• 2020: c.3,000 of the units already have received the works’ license

• Pre-sales: 1,230 units / EUR 401 million pre-sold YTD. Pre-order book up to EUR 1bn.
• Revenue visibility:  98% pre-sold on 2018 deliveries, 78% on 2019 and 22% for 2020
• HPA: 8.2% annual observed HPA in the 12 months to Q3

• Expected gross margin on WIP: 27%+ for 2018 and 28%+ for 2019. 2020 above IPO target thanks to a continued strong HPA which more than compensate for cost pressures
• Land bank: totaling 13,700+ units: 900+ fully permitted units acquired YTD, 1,400+ units of strategic land secured YTD
• Financials
• Revenues YTD up to EUR 156 million, of which c. EUR100m from development
• Operating EBITDA YTD of EUR 9.5m, c.4 times from H1

Results presentation: you can find the full presentation on the following link.

Earnings call: Management will host a webcast to discuss the results tonight (Wednesday 31^st of October) at 7pm CET. You can register and participate of the webcast through the following link.

Phone access will be available for those investors willing to ask live questions during the Q&A session. Please contact the Investor Relations team to get dial-in details.