Emaar Development Pjsc · DFM:EMAARDEV
Emaar Development Pjsc — Q3 2018 Earnings Presentation
28 slides from Emaar Development Pjsc's earnings presentation, Nov 14, 2018
Slide 1: Emaar Development PJSC Q3 2018 Results
Emaar Development PJSC Q3 2018 Results November 2018
Slide 2: Disclaimer
Disclaimer Emaar Development PJSC, for themselves and the Group, give notice that: The particulars of this presentation do not constitute any part of an offer or a contract. Given that the presentation contains information based on forecasts and roll outs, all statements contained in this presentati
Slide 3: Table of Contents
Table of Contents KEY HIGHLIGHTS OPERATIONAL OVERVIEW BALANCE SHEET APPENDIX Q3 2018 Results Presentation 14 November 2018 Page 2
Slide 4: Key Achievements – Q3 2018
Key Achievements – Q3 2018 AED 10.0Bn 54% growth in 19% growth Property sales revenue to AED 10.0Bn in net profit across all projects to AED 2.50Bn AED 1.85Bn c. 26,500 c. 35,100 sales achieved in newly Units Under residential units unveiled Emaar Construction delivered since 2002 Beachfront project
Slide 5: Emaar Development - At a glance
Emaar Development - At a glance Overview of Emaar Development Master plans Emaar spearheaded the development of freehold Downtown Dubai master planned lifestyle communities in Dubai Arabian Ranches 100% About 35,100 residential properties delivered in the Owned Developments Dubai Marina UAE sinc
Slide 6: Launches
Development Overview Successfully launched 8 new projects in Dubai during 9M-2018 with a total value of c.AED 9.0Bn Beach Vista Sunrise Bay Marina Vista c.AED 10.0Bn of sales booked and c.4,100 units sold across all projects during 9M-2018 Launches c. 61,000 c. 26,500 properties sold Units Under Con
Slide 7: The strategy going forward
The strategy going forward Emaar Development Focus on being a pure UAE developer of projects for build-to-sell centred around iconic assets Consolidate Emaar’s leadership position as a developer of choice in the UAE Construction to be financed from pre-sales with minimal commitment for land pu
Slide 8: Development - Overview
Development - Overview 100% 100% Owned Developments Consolidated JVs/JDA with 50% Share Others JV Ras Al Khaimah (100% Downtown Arabian Dubai Emirates Emaar Dubai Emaar Owned Land Bank); Dubai Hills (4) (4) Zabeel Square (JV with Total Dubai Ranches Marina Hills Beachfront* Creek South (4) 50% Share
Slide 9: Emaar Development - Financial Performance
Emaar Development - Financial Performance AED Million CAGR CAGR +41% +27% +54% +58% Gross Revenue 8,863 10,033 3,761 4,345 6,899 Profit 6,508 2,861 2,750 5,253 2,395 1,841 3,140 2014 2015 2016 2017 9M-2018 9M-2017 2014 2015 2016 2017 9M-2018 9M-2017 CAGR CAGR +29% +23% Net +57% +19% EBITDA Income 3,
Slide 10: Emaar Development - Balance Sheet Overview (at 30 Sep 2018)
Emaar Development - Balance Sheet Overview (at 30 Sep 2018) Balance Sheet Overview Change in Cash & Cash Equivalents % AEDMn Total: AED 30,132Mn Trade & Other Bank Balances & Payables Cash 24% 40% Advances from 29% 22% Customers Trade & Other Receivables 2% Other Liabilities 13% Interest bearing loa
Slide 11: Appendix
Appendix
Slide 12: Appendix – Overview of Development
Appendix – Overview of Development
Slide 13: Projects overview
Projects overview at 30 Sep 2018 Wholly-owned projects Downtown Dubai Arabian Ranches Dubai Marina All under-construction projects Expansion of the current Arabian Two waterfront (including Sky Views, BLVD Ranches community adjacent to a residential/commercial towers, near Heights, BLVD Crescent, Fo
Slide 14: Projects overview (cont’d)
Projects overview (cont’d) at 30 Sep 2018 Wholly-owned projects (cont’d) Emirates Living Emaar Beachfront* Green-focused development An exclusive residential community featuring two low-rise apartment within the new maritime epicentre buildings that overlook the of the UAE, Dubai Harbour. The Emirat
Slide 15: Projects overview (cont’d)
Projects overview (cont’d) at 30 Sep 2018 100% consolidated JV JVs/JDAs with 50% share Dubai Hills Estate Dubai Creek Harbour Emaar South Zabeel Square Joint Venture between Emaar and Joint Venture between Emaar and Joint Venture between Emaar and Joint venture between Emaar Meraas Holding to create
Slide 16: Projects overview (cont’d)
Projects overview (cont’d) at 30 Sep 2018 Land bank (100% owned) Al Marjan - Ras Al Khaimah A project of c.1m sqft of land located at the top of Al Marjan Island ideal to build 5-Star hotel and service apartments Q3 2018 Results Presentation 14 [November ] August 2017 2018 Page 15
Slide 17: Overview of projects under development
Overview of projects under development at 30 Sep 2018 Amount Area % Unit % Value % Collected of % Completion % Gross Margin Project (100% Owned) Units Launched Period (AED) (1) (SQF) Sold Sold sold units Sep.18 Sep.18 (2) Downtown Dubai 8,930 32,982,152,931 11,890,033 87% 81% 41% Fountain Views 289
Slide 18: Overview of projects under development (cont’d)
Overview of projects under development (cont’d) at 30 Sep 2018 Amount Area % Unit % Value % Collected of % Completion % Gross Margin Project (Joint Ventures) Units (1) Launched Period (2) (AED) (SQF) Sold Sold sold units Sep.18 Sep.18 Dubai Hills Estates (3) 7,150 18,745,621,788 12,179,918 91% 80% 4
Slide 19: Location of Development Projects
Location of Development Projects Al Marjan, Ras Al Khaimah Emaar Beachfront(1) Zabeel Square Zaabeel Q3 2018 Results Presentation 14 November 2018 Page 18 (1) Emaar Beachfront partial acquisition completed and launched in Jan 2018. In March 2018 an MOU with Aldar was signed to jointly develop the pr
Slide 20: Location of Development Projects: Downtown Dubai
Location of Development Projects: Downtown Dubai 1 The Address Sky View 2 The Address Fountain Views 3 The Address The BLVD 4 Burj Vista 6 5 The Address Residences Dubai Opera 6 Rove Hotel (Downtown) 14 55 7 Il Primo 8 Opera House 9 B1 10 B2 3 11 Grande 54 21 56 12 Act one Act two 23 13 C3 14 Downto
Slide 21: Location of Development Projects: Arabian Ranches
Location of Development Projects: Arabian Ranches 1 Al Reem 1 2 Al Reem 2 3 Al Reem 3 4 Saheel 5 Golf Homes 6 Dubai Polo Club 7 Mirrador La Coleccion 1 1 8 Mirrador La Coleccion 2 3 9 Hattan 10 27 26 Alvorada 1 2 25 11 Alvorada 2 21 22 12 Alvorada 3 20 13 Alvorada 4 4 18 14 Palmera 1 19 24 15 Palmer
Slide 22: Location of Development Projects: Dubai Hills (JV with Meeras)
Location of Development Projects: Dubai Hills (JV with Meeras) Q3 2018 Results Presentation 14 November 2018 Page 21
Slide 23: Location of Development Projects: Dubai Creek
Location of Development Projects: Dubai Creek Q1 2018 Results Presentation 14 November 2018 Page 22
Slide 24: Expected Delivery Schedule
Expected Delivery Schedule (based on projects launched till 30 Sep 2018) Number of units Under Development Delivery Schedule Under Completed Cumulative till Development 2018 2019 2020 2021 2022 2017 - A - Emaar Development (fully consolidated) Downtown 11,077 8,930 10,411 578 2,353 3,049 2,068 882 E
Slide 25: Largest Master Developer and Preferred Development Partner
Largest Master Developer and Preferred Development Partner Emaar Universe Key Highlights Emaar Development Fully Owned Land Bank Over 16 years of Premium Available Land Bank for Development 11.2 m sq ft remaining GFA1 of BTS2 assets in Master Developments and Land Bank3 164 m sq ft GFA BTS1,2,3,
Slide 26: Land Bank
Land Bank Land Bank Evolution Though Investments & Strategic Partners YEAR AREA 2012 Arabian Ranches II 2013 Dubai Hills Estate (million sq ft) GFA BTS 2011-2017 Multiple CAGR 2014 Dubai Creek Harbour 16x +66% 2015 Emaar South 231 233 234 211 Downtown Views 198 199 2016 Ras Al Khaimah 167 2017 Zabee
Slide 27: Accounting Treatment
Accounting Treatment Emaar Development Dubai Hills Dubai Creek Emaar South & Full revenue and Fully consolidated Joint Development Zabeel Square cash flow for BTS by Emaar Agreement Equity accounted projects from 100% Development for as a joint venture 50% of profits of owned master plan B
Slide 28: alta
alta
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