Salhia Real Estate Co. K.s.c. · KSE:SRE
Salhia Real Estate Co. K.s.c — Salhia Real Estate — Q3 2024 Earnings Presentation
39 slides from Salhia Real Estate Co. K.s.c's earnings presentation, Nov 13, 2024
Slide 1: Boursa Kuwait analyst conference disclosure letter
Date: 13/11/2024 Ref.: Ib/26/2024 To: Boursa Kuwait Co. Dear Sirs, Subject: __Analyst/Investors Conference Meeting for the Third quarter of the year 2024 With reference to the above subject, and as per requirements stipulated in article No. (7- 8) “Listed company obligations” of Boursa Kuwait rule b
Slide 2: Disclosure of Material Information Form
= } Cie, ve Oat) Disclosure of Material Information Form Date: 13 Nov 2024 Material Information Name of the listed Company Salhia Real Estate Co. (K.P.S.C) We wouid like to inform you that Salhia Real Estate Company has conducted the Analyst/Investors Conference for the Third quarter of the year 202
Slide 3: Q3-2024 Results Presentation
SALHIA REAL ESTATE CO. Q3-2024 Results Presentation Period Ended 30 - September - 24
Slide 4: Disclaimer / Disclosure / Forward Statement
Disclaimer / Disclosure / Forward Statement 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 prov
Slide 5: Content
4 Performance Highlights 5 Local Investments CONTENT 19 Foreign Investments Q3 - 2024 25 Financial Performance 32 Appendix 3
Slide 6: Performance Highlights
Group Perfomance Performance Highlights KD 32.22 M KD 25.24 M KD 7.90 M + 6% + 16% - 36% Revenue EBITDA Net Profit Q3-2024 Business Highlights • Decrease in Net Profit due to depreciation & Finance cost Increase • Continued commitment to strategy execution. • Efficiency in under development project
Slide 7: Local Investments
LOCAL INVESTMENT’S
Slide 8: Local Investment
LOCAL INVESTMENT SALHIA ARRAYA ASSIMA • Arraya Commercial Centre • Assima Complex • Salhia Complex • Arraya Plaza • Assima Tower • Sahab Tower • Arraya Tower • Marriot Executive Apartments • Salhia Plaza • Marriot Courtyard Hotel (MEA) • JW Marriot Hotel • Convention Hall Salhia International • Salh
Slide 9: Salhia
General Knowledge 92,375 56,775 94% 98% SQM SQM Built Up Gross Leasable Q3 -24 Office Q3 -24 Store Area Area Occupancy Occupancy Salhia Complex • The first integrated retail and leisure complex in the GCC region. • 26,857 square meters of space for commercial offices. • Three floors of retail, and f
Slide 10: JW Marriott
General Knowledge 33,323 SQM 181 2025 2 Built Up Area Number of Expected Number of Rooms Opening Restaurants JW Marriot • JW Marriott is in the center of Kuwait City’s business and financial district. • Connected to Salhia Complex & near well-known retail centers. JW • Targeted Opening early 2025 •
Slide 11: MEED Awards
MEED Awards REFIT PROJECT OF THE YEAR • Fusion of premium materials and modern aesthetics • Strengthens JW Marriott’s iconic presence in downtown Kuwait City • Environmental Impact: 30% reduction in carbon emissions 9
Slide 12: Opening Early 2025
Opening Early 2025 • Design Highlights: Ground floor extension, new reception area, adaptive reuse approach, and enhanced public space. 10
Slide 13: Arraya
General Knowledge 97,208 53,579 95% 90% SQM SQM Built Up Gross Leasable Q3 -24 Tower Q3 -24 Mall Area Area Occupancy Occupancy Arraya Centre • Situated in the heart of Kuwait City • Featuring a range of shops, upscale eateries and casual hangouts. • Six-floors car park accommodating 1,400 cars, conn
Slide 14: Marriott Courtyard
General Knowledge 29,008 264 22 3 SQM Built Up Area Number of Number of Number of Rooms Floors Restaurants Marriot Courtyard • Adjacent to Arraya Centre and is in the center of the city. • 6 fully furnished banquet halls, a business center, and a cutting- edge swimming pool and fitness center. • Ope
Slide 15: Assima Mall
General Knowledge 180,500 71,924 96% 13 SQM SQM Built Up Gross Leasable Q3 -24 Anchor Area Area Occupancy Units Assima Mall • 20,000 SQM across four basements, a ground floor, and six floors of shops, restaurants, entertainment venues, etc. • Strong Demand for space from known brands. ASSIMA • Large
Slide 16: Assima Tower
General Knowledge 99,500 59,524 19% 51 SQM SQM Built Up Gross Leasable Q3 -24 Number of Area Area Occupancy Floors Assima Tower • Occupancy rate stands at 19% as of Q3 - 2024 • Project Completion January 2024. • Connected to Assima Mall, featuring a multi-story parking facility designed for the conv
Slide 17: Marriott Executive Apartments
General Knowledge 25,100 164 11 1 SQM Built Up Area Number of Number of Number of Rooms Floors Restaurants Marriot Executive Apartments • Operated by Marriot International • First Marriot Executive Apartments in Kuwait • Available for short and long stay residency. • Fully equipped fitness center, d
Slide 18: Salhia International Entertainment Center
General Knowledge 5,097 15 KD SQM 404,279 Built Up Number of 9M -24 Area Attractions Revenue Salhia International Entertainment Center • Exclusive National Geographic licensee. • Kuwait’s first National Geographic entertainment center. • For children aged 4 to 14. SIEC • Incorporating cutting-edge V
Slide 19: Salhia Extension Property
SALHIA EXTENSION PROPERTY Acquired Land in Q1 - 2024 A neighboring land to Salhia Commercial Complex divided into 4 plots. 9,284 KD 70 M 4 SQM Plot Land Number of Area Purchased Plot’s 17
Slide 20: Salhia Extension Property: Board Authorization for Land Sale
SALHIA EXTENSION PROPERTY Board Authorization for Land Sale The Board has granted approval for the sale of PLOT 3 spanning 1,437m², authorizing the transaction to proceed as approved. 1,437 KD KD 12.6 M 13.2 M +5% m² Plot 3 Plot 3 Sale Gain from Land Size Land Value Price KD Sale % *Amount will be r
Slide 21: Foreign Investments
FOREIGN INVESTMENT’S
Slide 22: Foreign Investment
FOREIGN INVESTMENT BEORMA QUARTER, LOLWORTH DEVELOPMENT BIRMINGHAM LIMITED (LDL) ( S a l h ia I nt e r na t iona l B ir mingh a m L imit e d ) • Phase 1 – Adagio Hotel & Prince’s Trust • Fully owned subsidiary – Land Option • Phase 2 – Commercial & Residential 20
Slide 23: Beorma Quarter
General Knowledge 8,268 35,000 125 2026 M2 M2 Plot Area Phase 2 – Phase 2 Expected Number of Built Up Area Completion Apartments Beorma Quarter Project • A large-scale revitalization initiative incorporating a mix of office spaces, hotels, and residential apartments. • Located in the center of Birmi
Slide 24: Progress Snapshots
PROGRESS SNAPSHOT’S Beorma Quarter - Q3 - 2024 22
Slide 25: Lolworth Development
General Knowledge >1M SQM UK 1992 Land Area Location Established Lolworth Developments Ltd • Lolworth Development– An estimated land area of over 1 million square meters (land option), northwest of Cambridge City Center. • A prime strategic location for developing a leading LOLWORTH technology cente
Slide 26: Estimated Projects Timeline Under Development
EST. PROJECTS TIMELINE UNDER DEVELOPMENT 2024 - 2026 JAN - 2024 2025 Q3 - 2026 Assima Tower JW Marriot Beorma Tower – (Kuwait) (Kuwait) Commercial & Residential (Birmingham, UK) 24 *Projects’ timings could change from the provided estimation.
Slide 27: Q3-2024 Financial Highlights
SALHIA REAL ESTATE CO. Q3-2024 FINANCIAL HIGHLIGHTS 30-September-24 25
Slide 28: Profitability Indicators
Profitability Indicators Net Profit KD Net Profit Margin % EBITDA KD 38 % KD 12.28 M KD 25.24 M KD 21.82 M 26 % KD 7.90 M - 36 % - 32 % + 16 % 26
Slide 29: Profitability Indicators (Continued)
Profitability Indicators (Continued) Return on Assets % Return on Equity % 6.98 % 2.81 % 4.36 % 1.49 % - 47 % - 38 % 27
Slide 30: Performance Ratios - The Group
Performance Ratios - The Group Revenue KD Operating Expense KD Gross Profit Margin % KD 32.22 M KD 7.37 M 76 % 77 % 30.34 M KD 7.34 M +6% -1% + 2% 28
Slide 31: Performance Ratios - Real Estate
Performance Ratios - Real Estate Revenue KD Operating Expense KD Gross Profit Margin % KD 28.44 M KD 5.65 M KD 5.48 M KD 26.93 M 79 % 81 % +6% -3% +2% 29
Slide 32: Performance Ratios - Hospitality
Performance Ratios - Hospitality Revenue KD Operating Expense KD Gross Profit Margin % KD 3.78M KD 1.86 M KD 3.41 M KD 1.72 M 51 % 49.5 % 9M-23 9M-24 + 11 % +8% +3% 30
Slide 33: Debt Structure
Debt Structure Debt to Equity % Debt to Asset % 1.92 66 % 60 % 1.48 + 30 % + 10 % 31
Slide 34: Appendix
SALHIA REAL ESTATE CO. APPENDIX 32
Slide 35: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position 33
Slide 36: Consolidated Statement of Financial Position (Cont'd)
Consolidated Statement of Financial Position (Cont’d) 34
Slide 37: Consolidated Statement of Income
Consolidated Statement of Income 35
Slide 38: Slide 38
Slide 39: Thank You
THANK YOU ir@salhia.com www.salhia.com +965 22996097 – 22996081 – 22996346