UBM Development (UBS) investor relations material

Executive summary

• Achieved positive results before and after taxes in Q1 2026, confirming the ongoing turnaround that began in Q2 2025 and reversing losses from Q1 2025.

• Liquidity increased to €168.4 million, up over 40% year-over-year, supporting upcoming repayments.

• Equity ratio reached 33.7%, at the upper end of the 30%-35% target range.

• Revenue growth driven by strong apartment sales, especially in Austria, Vienna, and Prague, matching record Q1 2025 levels.

• Continued focus on affordable living and a two-product residential strategy, with rapid progress and strong stakeholder response.

Financial highlights

• Revenue increased to €31.6 million in Q1 2026, up 10.9% year-over-year.

• Earnings before tax improved to €0.3 million from a loss of €6.2 million in Q1 2025.

• Net debt reduced to €483.6 million, the lowest since 2021.

• Equity increased by €27 million year-over-year, standing at €376.9 million at Q1 end.

• Cash and cash equivalents rose 43.1% year-over-year to €168.4 million.

Outlook and guidance

• Focus remains on portfolio rebalancing and executing the two-product strategy (affordable and premium housing), leveraging cash from non-strategic asset sales.

• Expectation to sell almost all non-strategic residential assets within six months.

• Continued ESG focus, with emphasis on hybrid timber construction and renewable energies.

• Building a dedicated affordable housing pipeline and a showcase project, with strong initial market interest.

• Positive trend in the premium residential segment expected to continue in 2026.