Boursa Kuwait Securities Company (k.p.s.c) · KSE:BOURSA
Boursa Kuwait Securities Company (k.p.s.c) — Mabanee Company K.P.S.C. — Q1 2023 Earnings Presentation
32 slides from Boursa Kuwait Securities Company (k.p.s.c)'s earnings presentation, May 2023
Slide 1: Boursa Kuwait cover letter for analyst conference
sal ustLi_o igabanee Mr. Mohammad Saud Al Osaimi Chief Executive Officer Boursa Kuwait Company Subject: Analyst Conference presentation for the 2023/5/11 ; Date ~ —yLil 2023/162/a.8 ; Ref. olay asinall cetpaell ages dane | dul) gh a Ga Capt) dua gs Adi first Quarter of the year2023 As per requiremen
Slide 2: Q1 - 2023 Results Presentation
Q1 - 2023 Results Presentation Period Ended 31 March 2023 May 2023
Slide 3: Presenters
banee ‘wwrseMabanee com abanee Tareq Al-Adsani Deputy Chief Executive Officer Abhishek Rastogi Director of Finance werLLo ipanee Reem Al-Hajri Investor Relations, Manager
Slide 4: Disclaimer/Disclosure/Forward Looking Statements
DISCLAIMER/DISCLOSURE/FORWARD LOOKING STATEMENTS The information set out in this presentation and provided in the discussion subsequent thereto does not constitute an offer, an agreement, or a solicitation of an offer to buy or sell securities. It is solely for use at an investor presentation and is
Slide 5: Content
CONTENT 5 PERFORMANCE HIGHLIGHTS 6 • THE AVENUES • SABAH AL AHMAD (S3) KUWAIT • HILTON GARDEN INN • AVENTURA - (J3) OPERATIONAL PROJECTS • WALDORF ASTORIA 12 • THE AVENUES BAHRAIN • HILTON GARDEN INN • West Expansion 16 • THE AVENUES - RIYADH KSA • THE AVENUES - KHOBAR 20 FINANCIAL PERFORMANCE 4
Slide 6: Performance Highlights Q1 - 2023
PERFORMANCE HIGHLIGHTS Q1 - 2023 Strong Group KD 30.85 Mn. KD 22.76 Mn. KD 15.86 Mn. performance +15.59% +15.12% +9.26% • Revenue • EBITDA • Net Profit • Continued commitment to strategy execution. Business • Improved footfall and occupancy rates. Highlights • Efficiency in under-development project
Slide 7: Kuwait
KUWAIT • AVENTURA - (J3) • SALMIYA • THE AVENUES • HILTON GARDEN INN • WALDORF ASTORIA • SABAH AL AHMAD (S3) 6
Slide 8: The Avenues - Kuwait
THE AVENUES - KUWAIT FOOTFALL RECOVERY TO PRE-PANDAMIC THE AVENUES-KUWAIT OCCUPANCY LEVELS RATES PLOT AREA BUILT-UP AREA 393,800 SQM 1,278,300 SQM PARKING NUMBER OF ANCHORS • The Avenues remains the top choice for investors’ outlets and visitors. 14 CAPACITY STORES • Strong demand for space from ren
Slide 9: Hilton Garden Inn - Kuwait
HILTON GARDEN INN - KUWAIT HILTON GARDEN INN 35,000 BUILT-UP AREA sqm 385 NO. KEY • A 4-stars hotel connected to the north side of The Avenues. • Strong transient business, corporate and group business trends. • RevPAR improvement with year-on-year increase by 29.57% vs.Q1- 2022. OPERATOR • Highest
Slide 10: Waldorf Astoria - Kuwait
WALDORF ASTORIA - KUWAIT Waldorf Astoria 47,800 BUILT-UP AREA • A five-star luxury business and leisure hotel connected to the south side of The Avenues through the Prestige District. sqm 200 NO. KEY • Latest addition to the Group’s expanding hospitality portfolio. • Gaining traction since its soft
Slide 11: Aventura (J3) - Kuwait
AVENTURA (J3) - KUWAIT MABANEE’S OWNERSHIP PROJECT TYPE 35% PPP project* 445 • Mabanee, the Lead Developer of a Consortium of Companies selected as the “preferred MALL BUA MALL GLA NUMBER OF UNITS investor” for the J3 Jaber Al Ahmad Investment Opportunity from The Public Authority 295,000 108,200 fo
Slide 12: Sabah Al Ahmad (S3) - Kuwait
AR Aerial View Render 04 SABAH AL AHMAD (S3) - KUWAIT ADDENDUM ARCHITECTURE Aerial View Render 07 PLOT AREA SOUK PLOT AREA 77 • Souk Sabah 40,121 sqm 32,451sqm 110 66,053 HOTEL BUA • Selected as the “preferred investor” for the S3 Sabah Al Ahmad Investment Opportunity from The Public Authority for H
Slide 13: Bahrain
BAHRAIN • THE AVENUES King Fahad causeway • HILTON GARDEN INN KSA 12
Slide 14: The Avenues - Bahrain
THE AVENUES - BAHRAIN The Avenues-Bahrain Occupancy rates PLOT AREA BUILT-UP AREA 86,575 sqm 136,000sqm 1,600 120 PARKING CAPACITY NUMBER OF UNITS • Located at the heart of Manama, was inaugurated in 2017. The design is inspired by The Avenues – Kuwait. 10 3 CINEMAS DISTRICTS MANAGEMENT • Improved o
Slide 15: Hilton Garden Inn - Bahrain
HILTON GARDEN INN - BAHRAIN PLOT AREA BUILT-UP AREA 2,400sqm 500 sqm 192 NO. KEY • Located in the heart of Bahrain Bay and directly connected to The Avenues - Bahrain. • Occupancy rate for Q1-23 at 68% vs. Q1-22 of 61%. OPERATOR HILTON WORLDWIDE 14
Slide 16: West Expansion The Avenues - Bahrain
WEST EXPANSION THE AVENUES - BAHRAIN THE AVENUES PHASE I West Expansion 115,870 BUILT-UP AREA Mabanee’s onwership sqm 35% 248 RETAIL UNITS MANAGEMENT • An extension of the west part of The Avenues - Bahrain. • West Expansion will result in an increase to the total project’s GLA to reach approx. 100%
Slide 17: KSA
KSA • THE AVENUES - KHOBAR • THE AVENUES - RIYADH 16
Slide 18: The Avenues - Riyadh
THE AVENUES - RIYADH D ROA AN THE AVENUES ALM GS RIYADH KIN KIN GF AH AD RO AD • Highly desirable location at the intersection of King Salman Road and King Fahad 60% 387,700 MABANEE’S OWNERSHIP LAND Causeway. sqm • On-site construction, district cooling plant and external roads improvement works MAN
Slide 19: The Avenues - Khobar
THE AVENUES - KHOBAR THE AVENUES KHOBAR AD N RO LTA SU KING SAUD BIN ABDULAZIZ ROAD EER AM AL 60% 197,600 MABANEE’S OWNERSHIP PLOT AREA sqm MANAGEMENT 696,000 100% BUILT-UP AREA • New development project by Mabanee in Khobar, Eastern Province of Saudi Arabia. • Enabling and bulk excavation works is
Slide 20: The Estimated Projects Timeline (Under Development)
THE ESTIMATED PROJECTS TIMELINE (UNDER DEVELOPMENT) 2019 2020 2021 2022 2023 2024 2025 2026 2027 THE KINGDOM OF AVENUES RIYADH ** SAUDI ARABIA THE KINGDOM OF AVENUES KHOBAR SAUDI ARABIA KINGDOM OF AVENUES BAHRAIN-WEST EXPANSION BAHRAIN KUWAIT J3-AVENTURA KUWAIT S3-SOUK SABAH (TO BE DETERMINED) * Pro
Slide 21: Financial Highlights Performance
Financial Highlights Performance Q1- 2023 March 31-2023
Slide 22: Profitability Indicators
Profitability Indicators High occupancy in Avenues Kuwait in line with the previous year coupled with new tenant blend and contract uplifts has resulted in year on year growth. 21
Slide 23: Profitability Indicators (Continued)
Profitability Indicators (Continued) The returns are in line with the growing asset and equity base. 22
Slide 24: Performance Ratios - The Group
Performance Ratios - The Group Higher topline is driven by the addition of Waldorf Astoria Hotel - Kuwait to our portfolio of investments. 23
Slide 25: Performance Ratios - The Avenues
Performance Ratios - The Avenues Higher revenue combined with being vigilant on costs have resulted in better operating margins. 24
Slide 26: Performance Ratios - Hospitality
Performance Ratios - Hospitality Higher revenue is mainly on account of better RevPAR and ADR driven by the opening of Waldorf Astoria Kuwait in August 2022. 25
Slide 27: Debt Structure
Debt Structure Borrowings have increased in line with our expansion plans in KSA. 26
Slide 28: Appendix
wl mu iggabanee
Slide 29: Consolidated Statement of Income
Consolidated Statement of Income 28
Slide 30: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position 29
Slide 31: Q&As
usJL_o Yhavanes 30
Slide 32: Thank You
Thank You MABANEE COMPANY K.P.S.C P.O. Box 5132 Safat l 13052 Kuwait +965 222 444 29 investorsrelations@mabanee.com www.mabanee.com Mabanee Company @mabaneeco MABANEE MABK.KW MABANEE.KW MABANEE KK
Mabanee Company K.P.S.C. — Q1 2023 Earnings Presentation on 6ix