Emaar Properties (P.J.S.C) · DFM:EMAAR
Emaar Properties (P.J.S.C) — Emaar Properties — Q3 2015 Earnings Presentation
35 slides from Emaar Properties (P.J.S.C)'s earnings presentation, Nov 17, 2015
Slide 1: Emaar Properties Q3 2015 Results
Emaar Properties Q3 2015 Results November 2015
Slide 2: Disclaimer
Disclaimer Emaar Properties PJSC, for themselves and for Emaar 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 prese
Slide 3: Table of Contents
Table of Contents KEY HIGHLIGHTS INCOME STATEMENT BALANCE SHEET OPERATIONAL OVERVIEW APPENDIX Q3 2015 Results Presentation November 17, 2015 Page 2
Slide 4: Emaar Properties at a Glance
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Emaar Properties at a Glance #2 195 MM 43% listed developer (60% of EBITDA) SQM of land by market cap recurring bank in MENA(1) revenues +39,700 13.90 154.51 residential units AED BN AED NAV/ delivered since Market Value of
Slide 5: Key Financial Highlights for the Group
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Key Financial Highlights for the Group AED MM Q3 2015 Q3 2014(1) % Change YTD 2015 YTD 2014(1) % Change Group Property Sales 2,983 3,230 (8)% 11,442 14,489 (21)% Revenue 3,329 2,136 56% 9,849 7,888 25% Gross Profit 1,661 1,1
Slide 6: Key Achievements
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Key Achievements Successfully launched 3 new projects in Dubai in Q3 2015 with a total sales value of AED 1.987 BN—AED 9.360 BN YTD 2015; total sales in Q3 2015 amounted to AED 1.393 BN—AED 7.513 BN YTD 2015. Together, t
Slide 7: Results by Segment
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Results by Segment Revenues(1) Breakdown of Results AED million Revenues 25% 46% 24% 15% - 15% 9,849 9% 7,888 2,684 3,921 12% 1,396 1,734 1,844 2,115 1,196 1,199 40% 768 880 Emaar UAE International Emaar Malls Emaar Emaar Re
Slide 8: Balance Sheet Overview
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Balance Sheet Overview Balance Sheet Overview Change in Cash & Cash Equivalents(1) % AED million Total: AED 77,604 MM +3,909 9,304 Bank Balances & Trade & Other 7,671 -1,298 -932 -46 Cash 12 Payables 22 Advances from 18 Cust
Slide 9: Credit Ratios
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Credit Ratios EBITDA / Interest Net Debt / EBITDA 12.0x 0.5x 9.1x 2014 2015 6.1x 2013 2014 2015 2014 -0.67x -0.78x 2013 2014 2015 Net Debt / Equity Debt / GAV 5.6% 18.0% 2014 2015 2013 2014 2015 17.0% 17.0% 2014 -9.8% -11.1%
Slide 10: UAE Development
Key Highlights Income Statement Balance Sheet Operational Overview Appendix UAE Development Market Overview Segment Highlights 665 units launched in Q3 2015 with a Q3 2015 Launches total sales value of AED 1.987 BN; 3,225 units launched in the first 9 months of 2015, with a total sales The Parkw
Slide 11: International Development
Key Highlights Income Statement Balance Sheet Operational Overview Appendix International Development Market Overview Q3 2015 International Sales(1) Q3 2015 sales across all international Units Released projects amounted to AED 1,590 BN; AED 3,929 BN YTD 2015. Egy 93 7 8,251 pt Emaar Misr outper
Slide 12: Emaar Malls Group
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Emaar Malls Group Q3 Q3 % YTD YTD % 2015 2014 Change 2015 2014 Change Key Highlights Footfall 10% increase in footfall across the EMG portfolio 28 25 10% 90 81 11% (MM) in the third quarter; 11% YTD. GLA Achieved a 25% B
Slide 13: Emaar Hospitality Group
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Emaar Hospitality Group Q3 Q3 % YTD YTD % 2015 2014 Change 2015 2014 Change Key Highlights Occupancy 8% increase in room revenue Q-o-Q attributable 70% 70% – 79% 82% (4)% mainly to both Eid Holidays falling in Q3. Rate (%)
Slide 14: Emaar Misr for Development
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Emaar Misr for Development Q3 Q3 % YTD YTD % 2015 2014 Change 2015 2014 Change Key Highlights Units Emaar Misr outperforms yet again, exceeding 747 457 64% 1,962 1,224 60% both internal sales targets and industry peers in
Slide 15: Summary
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Summary Financial With YTD 2015 Group sales amounting to AED 11,442 BN and a total backlog of Performance AED 34,880 BN, Emaar is on track to boost profitability in the coming years. UAE YTD 2015 sales across all project
Slide 16: Appendix
NW end Appendix
Slide 17: Overview of Divisions
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Overview of Divisions Property Property Emaar Hospitality Emaar Retail & Development Emaar Malls Group Development UAE Group Leasing International • Leading master plan • Active in 10 targeted • Listed on DFM since • Hotel o
Slide 18: Strategy
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Strategy Further consolidate Emaar’s position as of the largest developer of iconic projects in Dubai. Dubai Enter into joint ventures in Dubai to get access to significant land bank with no immediate cash outflow for la
Slide 19: Overview of Development Projects Under Development
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Overview of Development Projects Under Development Sale Value Expected Completion % Completion Project Business Description Units Date of Launch (AED) Date Recognized Dubai Operations The Address The Blvd 531 1,913,140,862 S
Slide 20: Overview of Development Projects Under Development (Cont'd)
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Overview of Development Projects Under Development (Cont’d) Sale Value Expected Completion % Completion Project Business Description Units Date of Launch (AED) Date Recognized Palma 121 497,714,448 Sep-13 2016 68.38% Rosa 14
Slide 21: Location of Development Projects
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Location of Development Projects Q3 2015 Results Presentation November 17, 2015 Page 20
Slide 22: Location of Development Projects: Downtown Dubai
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Location of Development Projects: Downtown Dubai 1 The Address Sky View 2 The Address Fountain Views 3 The Address The BLVD 4 Burj Vista 56 5 A2 6 A3 14 55 7 A4 8 Opera House 9 B1 10 B2 3 11 B4 54 21 12 C1 & C2 23 13 C3 14 D
Slide 23: Location of Development Projects: Arabian Ranches
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Location of Development Projects: Arabian Ranches 1 Al Reem 1 2 Al Reem 2 3 Al Reem 3 4 Saheel 5 Golf Homes 1 6 Dubai Polo Club 3 7 Mirrador La Coleccion 1 8 Mirrador La Coleccion 2 27 26 9 Hattan 2 25 10 Alvorada 1 21 22 20
Slide 24: Location of Development Projects: Dubai Hills (JV with Meeras)
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Location of Development Projects: Dubai Hills (JV with Meeras) 1 Dubai Hills Golf Course 2 Mulberry/Park Heights 3 Golf Club 4 Tennis Academy 5 Village Retail 6 Street of Dreams 7 Driving Range 8 Luxury Estate Village 12 9 S
Slide 25: Location of Development Projects: Dubai Creek (JV with Dubai Holding)
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Location of Development Projects: Dubai Creek (JV with Dubai Holding) Q3 2015 Results Presentation November 17, 2015 Page 24
Slide 26: Overview of Delivery Schedule
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Overview of Delivery Schedule Units Delivered/ Year 6,987 5,819(2) 5,554 3,787 1,085 2015 2016 2017 2018 2019 UAE International(1) Q3 2015 Results Presentation November 17, 2015 Page 25 (1): International deliveries do not i
Slide 27: Overview of UAE Delivery Schedule
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Overview of UAE Delivery Schedule # of Units Completed Under Development Cumulative till 2014 2015 2016 2017 2018 2019(1) Emaar Properties Downtown 9,911 5,487 9,911 1,109 1,390 1,178 1,810 Dubai Marina 4,450 4,450 Arabian R
Slide 28: Overview of International Delivery Schedule
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Overview of International Delivery Schedule Country Entity Completed Under Development To be Developed Cumulative till 2014 2015 2016 2017 2018 2019 Subsidiaries Emaar Misr 2,212 3,823 3,586 1,587 789 970 1,823 2,565 1,887 E
Slide 29: Emaar Group Hotel Portfolio
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Emaar Group Hotel Portfolio Residences in Hotel Hotel Management Company Classification Keys Operational Pool(6) Emaar Hospitality Group Hotel Portfolio Dubai Armani Hotel at Burj Khalifa AHM(1) 5 Star 160 NA 2010 The Addres
Slide 30: Emaar Hospitality Group: Asset Performance Breakdown
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Emaar Hospitality Group: Asset Performance Breakdown Emaar Hospitality Group: Asset Performance Breakdown The Address Downtown The Palace Downtown The Address Dubai Mall YTD 2015 YTD 2014 YTD 2015 YTD 2014 YTD 2015 YTD 2014
Slide 31: Emaar Hospitality Group: Hotels / Apartments Under Development
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Emaar Hospitality Group: Overview of Hotels / Apartments Under Development Hotel Location Launch Keys Serviced Apartments(1) Estimated Completion The Address The BLVD Downtown 2012 198 523 2016 The Address Sky View Downtown
Slide 32: Overview of Land Bank
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Overview of Land Bank Gross Land Area Country (Million SQM) Saudi Arabia (Emaar Economic City) 123.6 Saudi Arabia (Emaar Middle East) 3.5 India 30.1 Egypt 7.6 Pakistan 1.7 Turkey 0.5 Lebanon 0.3 Key International Markets 167
Slide 33: Group Structure
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Group Structure EMAAR Properties PSJC Emaar Dubai Emaar Malls Group Hotels & Resorts Hospitality Property Development Emaar International Emaar Investments 84.6% 100% 100% Projects—100% Emrill Services Emaar MGF-India KSA-EE
Slide 34: EEC's Financial Growth Quarterly Breakdown
Key Highlights Income Statement Balance Sheet Operational Overview Appendix EEC’s Financial Growth Quarterly Breakdown Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 SAR MM 303 229 236 145 169 111 213 157 147 85 85 47 69 50 8.1 Revenue Gross Profit Net Income YTD 2015 Net Order Intake & Revenue: Segment Br
Slide 35: Glossary
Key Highlights Income Statement Balance Sheet Operational Overview Appendix Glossary Sales The sale of off-plan units in project launches or completed units from inventory. Completed units that are ready for handover to clients; some delivered/completed units may not have been Deliveries sold and re