Bonava (BONAV) Company presentation summary

Investment highlights and market positioning

• Leading residential developer in Germany, Sweden, Finland, and the Baltics, with #1 brand awareness in Germany and a strong sustainability focus, including a 49% GHG emissions reduction from 2018–2023.

• Operates in regions with significant housing undersupply, especially in Germany and Sweden, and strong demand for modern, energy-efficient homes in the Baltics.

• Attractive land bank valued at historically low levels, providing exposure to high-growth regions and significant upside potential.

• Focus on cost efficiency, higher average project margins, and streamlined operations to outperform the market.

Sustainability and operational strategy

• First residential developer in Europe to receive SBTi approval for climate targets, with lifecycle assessments for all projects in 2024.

• Delivered EU taxonomy-aligned projects and recognized for gender equality.

• 69% of completed units in 2023 exceeded national energy efficiency requirements.

Regional strategies and financial performance

• Germany: Flexible operations, cost reductions, and a strong market position in Berlin and other growth areas, with robust EBIT margins.

• Sweden: Focus on high-margin regions and products, partnerships, and capital efficiency, with a plan to return to profitability.

• Baltics: Growth driven by a strong land bank and cost-efficient building systems, with rising EBIT margins.

• Finland: Selective approach in growth areas, right-sized organization, and stable performance.