Al Dar Properties · ADX:ALDAR
Al Dar Properties — Q1 2023 Earnings Presentation
31 slides from Al Dar Properties's earnings presentation, May 3, 2023
Slide 1: Q1 2023 Results Presentation
Q1 2023 RESULTS PRESENTATION Aldar Properties 03 May 2023
Slide 2: Q1 2023 Group Highlights
Q1 2023 GROUP HIGHLIGHTS Q1 2023 Results Presentation 03 May 2023
Slide 3: Q1 2023 Executive Summary
Q1 2023 EXECUTIVE SUMMARY Revenue EBITDA Net Profit Capital Deployment Group AED 3.1bn AED 955mn AED 836mn Pipeline of opportunities +14% YoY +18 % YoY +22% YoY at various stages Record UAE sales at AED 4.2bn and revenue backlog at AED 14.7bn • Increasing demand from overseas and expat buyers, stand
Slide 4: Aldar Development
ALDAR DEVELOPMENT Record UAE sales at AED 4.2bn and revenue backlog at AED 14.7bn on the back of strong demand from international and expat buyers driven by Abu Dhabi’s appeal as a premier lifestyle and business destination Revenue (AED mn) Group Sales (AED bn) 8% 14.4 1,777 1,917 177 3.4 5.2 280 4.
Slide 5: Aldar Investment
ALDAR INVESTMENT Higher occupancy across the portfolio; New acquisitions performing above expectations, particularly in the commercial segment Revenue (AED mn)1 Investment Properties Hotels & Leisure Education Occupancy 93%3 Occupancy 74% 27 Schools 45% 1,247 Commercial 94% ADR AED 596 (+65% YoY) 9
Slide 6: YTD 2023 Announcement Highlights
YTD 2023 ANNOUNCEMENT HIGHLIGHTS Aldar Development Aldar Investment Al Fahid Island acquisition in Abu Dhabi Joint Venture with Mubadala ▪ Introduction of unique beachfront offering in Abu Dhabi ▪ Develop new commercial assets on Al Maryah Island ( Abu Dhabi) within ADGM ▪ 3.4mn sqm island between Y
Slide 7: Robust Group Balance Sheet Supporting Growth
ROBUST GROUP BALANCE SHEET SUPPORTING GROWTH AED mn 1Q 23 Debt and Facilities (AED bn) Available Liquidity (AED bn) Debt 10,206 Cash 11,339 Sukuk Equity 27,586 3.7 Q1 23 Q1 23 1 Facilities Free Cash Debt to Equity 37% Facilites drawn undrawn 6.1 Debt to Total Assets 16% 6.5 4.4 Debt Maturity Profile
Slide 8: Key ESG and Sustainability Highlights
KEY ESG AND SUSTAINABILITY HIGHLIGHTS 2022 Sustainability Report published Protecting The Environment ▪ Launched Aldar Net Zero Plan, outlining our pathway to achieve Net Zero emissions by 2050 ▪ Integrating Carbon Cost Analysis in all Aldar Development launches ▪ Launched and signed Real Estate Cli
Slide 9: 2023 Guidance
2023 GUIDANCE No change to guidance Aldar Group Equity Deployment AED 5bn Group Sales AED 15 to 17bn Aldar Development Group Revenue Backlog AED 21 to 23bn Project Management Gross Profit AED 500 to 550mn Aldar Investment Adj. EBITDA AED 2.0 to 2.1bn1,2 1 Excludes Pivot 2 Adjusted for fair value mov
Slide 10: Q&A
Q&A Q1 2023 Results Presentation 03 May 2023
Slide 11: Q1 2023 Group Results
Q1 2023 GROUP RESULTS Q1 2023 Results Presentation 03 May 2023
Slide 12: Q1 2023 Group Financial Highlights
Q1 2023 GROUP FINANCIAL HIGHLIGHTS Cross platform growth driven by ongoing execution of development revenue backlog and rising recurring income from investment properties driven further by new acquisitions Revenue (AED mn) AED mn 1Q 23 1Q 22 Var Revenue 3,066 2,683 14% 2,683 3,066 1,765 1,757 2,041
Slide 13: 1Q 2023 Group Balance Sheet
1Q 2023 GROUP BALANCE SHEET Strong balance sheet position supported by prudent capital management and robust governance Balance Sheet Leverage AED mn 31 Mar 2023 31 Dec 2022 Property, plant and equipment 5,555 5,607 Investment properties 23,891 23,933 Aldar Development Aldar Investment LHFS, DWIP &
Slide 14: Aldar Development
ALDAR DEVELOPMENT Q1 2023 Results Presentation 03 May 2023
Slide 15: Aldar Development Q1 2023 Financial Performance
ALDAR DEVELOPMENT Q1 2023 FINANCIAL PERFORMANCE AED mn 1Q 23 1Q 22 Var Property Dev. & Sales (UAE only) • Sales +178% YoY to AED 4.2bn Group Sales 4,549 2,191 108% • Revenue +18% YoY, driven by ongoing project UAE 4,202 1,512 178% completions • Gross profit margin 40% Egypt 346 678 -49% • Revenue ba
Slide 16: UAE Landbank Overview
UAE LANDBANK OVERVIEW Landbank is spread across key investment zones in Abu Dhabi, Dubai and Ras Al Khaimah Landbank1 Locations Abu Dhabi Destinations Abu Dhabi Saadiyat Island GFA 2.1mn sqm 69mn sqm Land Area 65.0mn sqm GFA 11.5mn sqm2 Yas Island GFA 2.8mn sqm ▪ Large & highly accretive landbank Mi
Slide 17: UAE Development Projects Pipeline
UAE DEVELOPMENT PROJECTS PIPELINE TOTAL AS AT 31 MAR 23 LAUNCH PROJECT LOCATION PROJECT STATUS DATE SOLD UNITS NET SALES VALUE (AED MN) UNITS LAUNCHED % Sold % Completion Ansam Yas Island 2014 543 946 547 99.30% 100% Handed over Hadeel Al Raha Beach 2014 233 481 233 100.00% 100% Handed over Nareel A
Slide 18: Aldar Projects
ALDAR PROJECTS Execution of projects on track to meet guidance Project Management Backlog Progression (AED bn) Project Management CAPEX Backlog AED 61.7bn 64 65 62 58 4 9 (3) (3) 43 17 (2) 29 23 34 31 14 (2) 2022 New Awards 35 35 31 31 29 AED 35.6bn 31-Mar-22 Work New 30-Jun-22 Work New 30-Sep-22 Wo
Slide 19: Aldar Investment
ALDAR INVESTMENT Q1 2023 Results Presentation 03 May 2023
Slide 20: Aldar Investment Q1 2023 Financial Performance
ALDAR INVESTMENT Q1 2023 FINANCIAL PERFORMANCE AED mn 1Q 23 1Q 22 Var Investment Properties • Retail: flat YoY with Adj. EBITDA2 of AED 117mn Recurring Revenue1 1,247 859 45% • Occupancy of 90% (vs. 92% Q1 22) Investment Properties3 (IP) 538 442 22% • Residential: -11% YoY Adj. EBITDA2 to AED 95mn d
Slide 21: Investment Properties Overview
INVESTMENT PROPERTIES OVERVIEW1 Commercial Residential Retail Logistics No. of assets 15 12 36 1 Leasable area (‘000 sqm) 502 824 535 166 Occupancy 94% 95% 90% 89% WAULT (yrs) 3.9 2.8 3.9 4.9 Q1 2023 Revenue (AEDmn) 193 147 177 15 Q1 2023 NOI (AEDmn) 162 121 129 14 Q1 2023 Adj. EBITDA2 (AEDmn) 141 9
Slide 22: Hospitality & Leisure
HOSPITALITY & LEISURE 3rd largest hospitality owner in the UAE by number of keys HOTELS THE HOTEL PORTFOLIO CONSISTS OF ASSETS FROM 3 TO 5 STAR, IN ADDITION TO HOTEL APARTMENTS AED mn 1Q 23 1Q 22 Key assets: ▪ W Yas Island Revenue 283 129 ▪ Radisson Blu ▪ Crowne Plaza Adj. EBITDA 116 22 ▪ Rotana ▪ A
Slide 23: Aldar Education
ALDAR EDUCATION 2nd largest private school operator in the UAE Operated Schools Managed Schools AED 1bn investment plan fully committed adding ~12k seat capacity by AY25/26 • +14% enrolment growth YoY • +31% enrolment growth YoY driven • +6% like-for-like supported by by addition of ESE schools (Dub
Slide 24: Principal Investments
PRINCIPAL INVESTMENTS1 • Principal Investments1 Q1 2023 EBITDA Provis (AED mn) Khidmah (AED mn) increased 96% YoY to AED 32mn 170 • Largely due to Provis’ new revenue 92 streams such as the integrated facilities 80 management services for the 68 government, as well as additional fees from both the o
Slide 25: Segmental Breakdown
SEGMENTAL BREAKDOWN Q1 2023 Results Presentation 03 May 2023
Slide 26: Segmental Breakdown
SEGMENTAL BREAKDOWN Q1 2023 vs Q1 2022 Revenue (AED mn) 1451 1235 538 442 283 272 262 289 280 177 129 139 154 149 Investment Hospitality & Leisure Education Principal Property Dev. Project Mgmt. Egypt Properties Investments 1 & Sales Services Q1 22 Q1 23 EBITDA (AED mn) 426 347 299 286 116 120 101 3
Slide 27: Appendix
APPENDIX Q1 2023 Results Presentation 03 May 2023
Slide 28: Diversified Business Model
DIVERSIFIED BUSINESS MODEL Leading Abu Dhabi property company with diversified business model comprised of two core businesses; ALDAR Investment and Aldar Development 1 Mkt Cap: AED 34.8bn Revenue: AED 11.2bn3 Credit rating: Baa2 (Parent)2 EBITDA: AED 3.7bn3 Aldar Investment (AED 32bn+ AUM) Aldar De
Slide 29: 2022 Capital Deployment
2022 CAPITAL DEPLOYMENT Significant activity in 2022 across existing and new markets: c. AED 11.5bn of capital deployed or committed, 7- 8% stabilized NOI yield on investments Aldar Investment (c. AED 7.4bn) Aldar Development (c. AED 4.1bn) Date Transaction Value (AED mn) Segment Date Transaction Va
Slide 30: Contact Us
ALDAR INVESTOR PRESENTATION CONTACT US For any further enquiries please contact: Pamela Chahine Head of Investor Relations Tel: +971 (0)2 810 6585 Email: pchahine@aldar.com Omar Nashaat Investor Relations Tel: +971 (0)2 810 6237 Email: onashaat@aldar.com 30
Slide 31: Disclaimer
DISCLAIMER This presentation is intended for information purposes only and does not constitute or form part of an offer for sale or subscription or an invitation or solicitation of an offer to subscribe for or purchase securities of any kind and neither this document nor anything contained herein sh