Enbd Reit (ceic) Plc · NASDAQDUBAI:ENBDREIT
Enbd Reit (ceic) — Investor Presentation (March 2022)
23 slides from Enbd Reit (ceic)'s investor presentation, March 2022
Slide 1: ENBD REIT
ENBD Managed by Emirates NBD Asset Management ENBD Managed by Emirates NBD Asset Management
Slide 2: Quarterly Update 31st March 2022
Quarterly Update 31st March 2022 www.enbdreit.com
Slide 3: Presenting team
Presenting team Anthony Taylor Asif Siddique Melanie Fernandes Head of Real Estate Chief Financial Officer Senior Portfolio Manager ENBD REIT ENBD REIT ENBD REIT 3
Slide 4: Snapshot: 31st March 2022
Snapshot: 31st March 2022 NAV: Offices: 69% Al Thuraya 1 Binghatti Terraces Uninest Portfolio property USD 167m value Residential: 14% USD 356m NAV per share: USD 0.67 Alternative: 17% Burj Daman Arabian Oryx House South View School WAULT: 4.30 years Occupancy Properties LTV* Office: 2.36 years DHCC
Slide 5: Payments to shareholders
Payments to shareholders FY ending 31st March 2022 USD USD per share % of NAV % of share price Proposed Final dividend (to be paid 29th July 2022) 5,000,000 0.0200 2.99% 4.65% Interim dividend (paid 28th December 2021) 4,500,000 0.0180 2.74% 4.09% Total to shareholders 9,500,000 0.0380 5.69% 8.84% F
Slide 6: Capital structure: 31st March 2022
Capital structure: 31st March 2022 Finance terms: • Emirates NBD PJSC and Commercial Bank of Dubai: 3month LIBOR + 2% • 40% GBP/USD cross currency profit rate SWAP • Facility start date: 7th December 2021 • Maturity date: 6th December 2026 Equity USD 167m 46% Debt USD 200m 54% LTV 54% Debt Equity 6
Slide 7: Portfolio
él eneD REIT La; —s | Portfolio | "| Bi.
Slide 8: Occupancy of 80% across the portfolio
Portfolio characteristics – portfolio occupancy Occupancy of 80% across the portfolio 0% 20% 40% 60% 80% 100% The Edge 99% Offices Target Al Thuraya Tower 1 35% 69% 50-60% Burj Daman 79% DHCC49 78% DHCC25 77% Residential Target Binghatti Terraces 96% 14% 15-20% Arabian Oryx House 96% Remraam Residen
Slide 9: ENBD REIT's valuations stabilizing post pandemic
ENBD REIT’s valuations stabilizing post pandemic Overall portfolio valuations 500 450 400 350 300 250 USD m 200 150 100 50 0 31/3/17 30/6/17 30/9/17 31/12/17 31/3/18 30/6/18 30/9/18 31/12/18 31/3/19 30/6/19 30/9/19 31/12/19 31/3/20 30/6/20 30/9/20 31/12/20 31/3/21 30/6/21 30/9/21 31/12/21 31/03/22 O
Slide 10: ENBD REIT's office and alternative portfolios impacted
ENBD REIT’s office and alternative portfolios impacted Office valuations Residential valuations Alternative valuations 100 40 45 90 40 35 80 35 30 -8% 70 -24% USD m USD m 30 USD m 60 25 -12% -4% 25 50 20 +40% 40 20 -52% -41% -54% 15 30 -13% 15 -21% 20 10 -51% 10 31/3/17 30/9/17 31/3/18 30/9/18 31/3/
Slide 11: Asset snapshot: Office
Asset snapshot: Office The Edge Al Thuraya 1 Burj Daman DHCC 49 DHCC 25 Dubai Internet Overall Media City DIFC Healthcare City Healthcare City Overall City Office Acquired: Nov Acquired: Jun Acquired: Apr Acquired: Jul Portfolio Acquired: Oct Portfolio 2006 2015 2007 2007 2017 Market value (USD) 70m
Slide 12: Asset snapshot: Residential
Asset snapshot: Residential Binghatti Terraces Arabian Oryx House Remraam Overall Residential Silicon Oasis Barsha Heights Dubailand Overall Portfolio Portfolio Acquired: May 2016 Acquired: Oct 2014 Acquired: Sep 2015 Market value (USD) 19m 18m 12m 49m 356m % of portfolio value 5% 5% 3% 14% 100% Net
Slide 13: Asset snapshot: Alternative
Asset snapshot: Alternative South View Uninest Souq Extra Retail School Overall Dubailand Centre Remraam Alternative Overall Portfolio Acquired: May Acquired: Dec Acquired: Aug Portfolio 2017 2017 2017 Market value (USD) 19m 21m 22m 62m 356m % of portfolio value 5% 6% 6% 18% 100% Net leasable area (
Slide 14: Financials
ENBD Managed by Emirates NBO
Slide 15: Financial summary: 31st March 2022
Financial summary: 31st March 2022 • Gross income is down 15% from last year mainly due to lease renewals taking place at lower rates in various buildings following the impact of the pandemic and current softer market conditions remaining in the office sector (63% of gross income generation in the p
Slide 16: Financial performance: April 2021– March 2022
Financial performance: April 2021– March 2022 40,000,000 31,955,199 30,000,000 27,289,270 20,000,000 9,516,103 11,846,920 10,000,000 - - (3,149,050) Apr - Mar (10,000,000) (4,443,419) 2021-2022 USD (10,810,472) (20,000,000) (17,773,167) (20,108,279) Apr - Mar (30,000,000) 2020-2021 (40,000,000) (50,
Slide 17: Breakdown of total expenses: 31st March 2022
Breakdown of total expenses: 31st March 2022 Apr-Mar Apr-Mar USD Variance 2021-2022 2020-2021 USD Gross income 27,289,270 31,955,199 (4,665,929) Operating Total expenses (17,773,167) (20,108,279) 2,335,112 Fund expenses, expenses, (5,548,661) (4,815,666) FFO Net Rental Income 9,516,103 11,846,920 (2
Slide 18: Appendix
Appendix
Slide 19: Financial performance - statement of financial position (USD)
Financials Financial performance - statement of financial position (USD) 31st March 2022 31st March 2021 Investment Properties 356,057,718 360,236,864 IFRS Adjustment and Right of Use Assets 11,087,030 11,798,617 Cash and Cash Equivalent 19,030,420 24,607,598 Trade and Other Receivables 7,039,821 7,
Slide 20: Financial performance - statement of comprehensive income (USD)
Financials Financial performance - statement of comprehensive income (USD) Full year Full Year 31st March 2022 31st March 2021 Rental Income 27,252,477 31,907,728 Profit on Deposits 36,793 47,471 Total Income 27,289,270 31,955,199 Operating Expenses (5,548,661) (6,224,486) Operating Income 21,740,60
Slide 21: Contact us
Contact us General Enquiries & Investor Relations ENBDREITIR@emiratesnbd.com +971 (0)4 509 3010 Company Secretary Jean Kenny Labutte jeank@apexfunddubai.ae +971 (0)4 428 9221 Tenants/Leasing Melanie Fernandes fernandesmm@EmiratesNBD.com +971 (0)4 509 3029 Media Instinctif Partners enbdreitir@instinc
Slide 22: Disclaimer
Disclaimer The information, estimates and opinions (“Information”) expressed herein are made in good faith and are based on sources believed to be reliable, but no representation or warranty, express or implied, is made as to the accuracy, completeness or correctness of the Information. The Informat
Slide 23: Thank you
Thank you www.enbdreit.com
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