Atland (ATLD) Investor presentation summary

Strategic transformation and positioning

• Transitioned from a French hybrid property developer to an integrated pan-European asset manager with over €10bn AUM, now with more than 40% of assets outside France and a balanced client base of individuals and institutions.

• Completed three external growth operations in eight months, including the acquisition of Sienna Real Estate, expanding presence to seven countries and APAC via a Seoul office.

• Reduced consolidated net debt by over 54% in two years, achieving the target more than a year ahead of schedule, and financed acquisitions entirely in cash.

• Integrated expert leadership across finance, IT, HR, marketing, and business lines to support transformation and growth.

Business model and operational highlights

• Structured around four business lines: asset management for individuals and institutions, private real estate debt, and integrated development.

• Asset management platforms manage over €10bn, with a top-5 independent position in French SCPI and a diversified product range for retail and institutional clients.

• Hospitality vertical operates 25 hotels across six European countries, managing over 4,000 rooms under leading lifestyle brands.

• Private debt arm Aedgis targets €5–30m financings, with new funds and mandates expanding across Europe.

• Development platform Neolieux shifted to a capital-light, co-investment model, enhancing financial visibility and competitive advantage in asset repositioning and decarbonization.

Financial performance and growth ambitions

• Asset management revenue grew 20% in 2025, while consolidated revenue declined due to a strategic shift away from capital-intensive development.

• EBITDA increased 6% to €19m in 2025, with net profit at €8.1m and consolidated cash at €73.2m.

• Aims for >30% margin on management fees and >10% return on invested equity by 2028, with a 50% increase in fee-based revenue targeted.

• Capital allocation prioritizes organic growth, disciplined M&A, and shareholder returns, with a 12.1% annualized TSR over 10 years.