Warimpex (WXF) investor relations material

Executive summary

• Revenues from office rentals rose 12% year-over-year to €10.5 million, driven by new lettings and the completion of Mogilska 35 Office in Kraków.

• Total revenues declined 6% to €14.8 million due to lower hotel and development revenues.

• Profit or loss for the period improved significantly to -€4.3 million from -€12.4 million (continuing operations) and -€42.8 million (including discontinued operations) in the prior year.

• The sale of Russian subsidiaries in late 2024 eliminated material risks and allowed for debt reduction.

Financial highlights

• Gross income from revenues increased 1% to €6.9 million.

• EBITDA rose 17% to €1.0 million, mainly from higher office property revenues.

• EBIT was neutral, a marked improvement from -€6.0 million last year due to the absence of large property remeasurement losses.

• Financial result improved to -€4.7 million from -€5.9 million, reflecting lower interest expenses.

• Earnings per share improved to -€0.08 from -€0.82 year-over-year.

Outlook and guidance

• Operational focus is on implementing the MOG31 residential project in Kraków, with marketing to begin in December 2025.

• Additional projects in preparation include Chopin co-living/office and West Yard 29 in Darmstadt.

• Management anticipates positive operational results for 2025 despite challenging market conditions.

• Sustainability remains a strategic priority, with ongoing certification of properties.