Enbd Reit (ceic) Plc · NASDAQDUBAI:ENBDREIT
Enbd Reit (ceic) — Investor Presentation (December 2022)
23 slides from Enbd Reit (ceic)'s investor presentation, Dec 31, 2022
Slide 1: ENBD REIT, Managed by Emirates NBD Asset Management
ENBD Managed by Emirates NBD Asset Management ENBD Managed by Emirates NBD Asset Management
Slide 2: Quarterly Update 31st December 2022
Quarterly Update 31st December 2022 www.enbdreit.com
Slide 3: Presenting team
Presenting team Anthony Taylor Asif Siddique Melanie Fernandes Head of Real Estate Senior Finance Manager ENBD AM Senior Portfolio Manager Emirates NBD Asset Management Designated as Chief Financial Officer Emirates NBD Asset Management ENBD REIT 3
Slide 4: Snapshot: 31st December 2022
Snapshot: 31st December 2022 NAV: Offices: 68% Al Thuraya 1 Binghatti Terraces Uninest Portfolio property USD 173m value Residential: 15% USD 365m NAV per share: USD 0.69 Alternative: 17% Burj Daman Arabian Oryx House South View School WAULT: 3.92 years Occupancy Properties LTV* Office: 2.08 years D
Slide 5: Payments to shareholders
Payments to shareholders FY ending 31st March 2023 USD USD per share % of NAV % of share price Interim dividend (paid 21st December 2022) 4,500,000 0.0180 2.61% 4.38% FY ending 31st March 2022 USD USD per share % of NAV % of share price Final dividend (paid 29th July 2022) 5,000,000 0.0200 2.99% 4.6
Slide 6: Capital structure: 31st December 2022
Capital structure: 31st December 2022 Finance terms: • Emirates NBD PJSC and Commercial Bank of Dubai: 3month LIBOR + 2% • Facility start date: 7th December 2021 • Maturity date: 6th December 2026 Equity USD 173m 46% Debt USD 200m 54% LTV 54% Debt Equity 6
Slide 7: Portfolio
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Slide 8: Portfolio characteristics – portfolio occupancy
Portfolio characteristics – portfolio occupancy Occupancy of 85% across the portfolio 0% 20% 40% 60% 80% 100% The Edge 99% Offices Target Al Thuraya Tower 1 51% 68% 50-60% Burj Daman 83% DHCC49 81% DHCC25 77% Residential Target Binghatti Terraces 98% 15% 15-20% Arabian Oryx House 99% 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 3
Slide 10: ENBD REIT’s office and alternative portfolios impacted
ENBD REIT’s office and alternative portfolios impacted Office valuations Residential valuations Alternative valuations 80 23 22 +21% +7% 70 0% +1% +9% 22 20 60 +2% 21 -4% 18 50 USD m USD m USD m 16 20 +3% 40 14 19 30 -3% +9% 12 18 20 -4% 10 10 17 31/12/21 31/03/22 30/6/22 30/9/22 31/12/22 31/12/21 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) 21m 21m 13m 55m 365m % of portfolio value 6% 6% 3% 15% 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) 20m 22m 21m 63m 365m % of portfolio value 5% 6% 6% 17% 100% Net leasable area (
Slide 14: Financials
ENBD Managed by Emirates NBD Asset Manager
Slide 15: Financial summary: 31st December 2022
Financial summary: 31st December 2022 • Gross income has recovered with a 16.3% increase from the same period last year. • Portfolio valuations improved by 0.5% (USD 1.8mn) in this quarter. • Finance cost is up 12.7% from last year as a result of the rising interest rate environment. • Operating exp
Slide 16: Financial performance: April - December 2022
Financial performance: April - December 2022 30,000,000 25,000,000 23,208,659 19,946,929 20,000,000 15,177,623 15,000,000 10,000,000 7,562,988 7,242,656 5,464,692 Apr - Dec USD 5,000,000 2022 371,979 - - Apr - Dec (5,000,000) (2,967,582) 2021 (10,000,000) (8,432,274) (15,000,000) (15,645,671) (14,48
Slide 17: Breakdown of total expenses: December 2022
Breakdown of total expenses: December 2022 Apr-Dec Apr-Dec USD Variance 2022 2021 USD Gross Income 23,208,659 19,946,929 3,261,730 Operating Total Expenses (15,645,671) (14,482,237) (1,163,434) Fund Expenses, Expenses, (4,597,767) (3,931,139) FFO Net Rental Income 7,562,988 5,464,692 2,098,296 (excl
Slide 18: Appendix
Appendix
Slide 19: Financials: statement of financial position
Financials Financial performance - statement of financial position (USD) 31st December 2022 31st December 2021 31st March 2022 Investment Properties 364,538,524 356,599,510 356,057,718 IFRS Adjustment and Right of Use Assets 10,347,428 11,605,779 11,087,030 Cash and Cash Equivalent 18,989,677 18,257
Slide 20: Financials: statement of comprehensive income
Financials Financial performance - statement of comprehensive income (USD) 9 Months 9 Months Full year 31st December 2022 31st December 2021 31st March 2022 Rental Income 23,058,807 19,884,837 27,252,477 Profit on Deposits 149,852 62,092 36,793 Total Income 23,208,659 19,946,929 27,289,270 Operating
Slide 21: Contact us
Contact us General Enquiries & Investor Relations ENBDREITIR@emiratesnbd.com +971 (0)4 509 3010 Company Secretary Aparna Menon aparna.menon@apexgroup.com +971 (0)2 672 6327 Portfolio Related 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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