Above guidance results in ‘24, strong mid-term growth strategy announced

Duna House posted strong results for Q4 and cleaned core net results came in higher
than the management guidance. Revenues increased by 20% YoY in 2024, reported
EBITDA came in 67% higher YoY, while cleaned core EBITDA reached HUF 4.8bn, up by
80% YoY. Net profit came in 18% lower YoY, due to lower financial income on cash
deposits and higher tax expenses. Cleaned core net income reached HUF 2.4bn (+35%
YoY), above the higher range of HUF 2.3bn guidance. The BoD proposed HUF 43.6 DPS
after 2024 results, no extraordinary dividend payment in this year which might have
disappointed investors.

DH guides cleaned core EBITDA to arrive in a range of HUF 6.011bn - 6.985bn, and
cleaned core net profit to be in a range of HUF 2.852bn - 3.595bn. The mid-range of the
latter implies a 33% increase in cleaned core net profit. The group also expects HUF
4.4bn FCF in 2025 from the sale of its real estate portfolio which will be used for the
announced growth strategy. DH shared its strategic plans for the period 2025-2029,
which seems impressive. Management expects to triple its core EBITDA by 2029 and
reach EUR 23mn in net profit from the current EUR 5.6mn level.