Atal S.A. (1AT) investor relations material

Executive summary

• Q1 2026 saw a significant increase in sales and handovers, with 644 flats sold (up 88% year-over-year) and 500 flats handed over (up 129% year-over-year), driving strong revenue and net profit growth.

• Revenues rose 130% year-over-year to PLN 314.96 million, and net profit increased 223% to PLN 55.33 million.

• The company expanded its land bank, launched new projects, and maintains a diversified offer with 8,333 flats available at the end of Q1.

• Dividend payout remains robust, with a planned 8.1% yield for 2025, representing 88% of net profit.

• Operations span eight Polish cities, with 43 investments in progress and 35 new projects planned based on owned land.

Financial highlights

• Q1 2026 revenue reached PLN 314.96 million, gross profit was PLN 92.55 million, and net profit was PLN 55.33 million.

• Gross margin was 29.4%, net margin 17.6%, and profit per share rose to 1.28 PLN.

• Net debt ratio slightly increased to 0.27%.

• Inventory rose to PLN 4.56 billion, mainly due to increased work in progress.

• Cash at quarter-end was PLN 140 million, with higher inflows observed.

Outlook and guidance

• Sales momentum is expected to continue, with Q2 sales projected to exceed Q1.

• Gross margin for 2026 and 2027 is budgeted at 28%-30%, net margin at 18%.

• Handovers for 2026 are conservatively estimated at 3,300 flats, with potential revenue of about PLN 2 billion.

• Land bank allows for development of approximately 498,000 m2 of usable area.

• Management is monitoring geopolitical risks, including the war in Ukraine and Middle East tensions, which may impact costs and supply chains.