Waha Capital Company · ADX:WAHA
Waha Capital — Investor Presentation (November 2018)
39 slides from Waha Capital's investor presentation, November 2018
Slide 1: Investor Presentation
INVESTOR PRESENTATION November 2018
Slide 2: Contents
03 | COMPANY OVERVIEW 08 | FINANCIAL HIGLIGHTS CONTENTS 15 | BUSINESS HIGLIGHTS 45 | ORGANISATION & GOVERNANCE
Slide 3: Company Overview
03 COMPANY OVERVIEW
Slide 4: Who Is Waha Capital
WHO IS WAHA CAPITAL WE ARE TOTAL ASSETS YTD Sep 2018 A leading Abu Dhabi-based investment company; established in 1997 and listed on the Abu Dhabi Securities Exchange in 2000 Led by a world class management team and high caliber Board of Directors AED 12.4bn OUR BUSINESS MARKET CAP Diversified
Slide 5: Business Model
BUSINESS MODEL Asset How we create value Private Management Investments Sustainable Long-term Value Growth Shared Organisation Prosperity & Culture How we run our business Corporate Risk Governance Management Investor Presentation | NOV 2018 5
Slide 6: Business Model
BUSINESS MODEL PRIVATE INVESTMENTS ASSET MANAGEMENT Strategic long term investments Generate cash returns through investments in liquid Focus on generating stable income and regular cash equity and fixed income securities flows over the long term in relatively mature businesses Three existin
Slide 7: Financial Highlights
07 FINANCIAL HIGHLIGHTS
Slide 8: YTD Sep 2018 Financial Highlights
YTD SEP 2018 FINANCIAL HIGHLIGHTS Performance reflects growth across all business divisions Net profit of AED 295.1 million, compared to AED 267.8 million in YTD Sep 2017 EPS of AED 0.16 compared to AED 0.15 in YTD Sep 2017 NET PROFIT Assets of AED 12.4 billion as at 30 September 2018 vs. AED
Slide 9: Q3 2018 Financial Performance
Q3 2018 FINANCIAL PERFORMANCE TOTAL INCOME TOTAL EXPENSE NET PROFIT 25% 3% 35% Vs. Q3 2017 Vs. Q3 2017 Vs. Q3 2017 AED MILLIONS Q3 2018 Q3 2017 Total Income 199 266 Expenses - Parent (61) (65) Expenses - Subsidiaries (104) (104) Non Controlling interest 21 (12) Net Profit attributable to share
Slide 10: YTD Sep 2018 Financial Performance
YTD SEP 2018 FINANCIAL PERFORMANCE TOTAL INCOME TOTAL EXPENSE NET PROFIT IN LINE 7% 10% Vs. YTD Sep 2017 Vs. YTD Sep 2017 Vs. YTD Sep 2017 AED MILLIONS YTD SEP 2018 YTD SEP 2017 Total Income 812 807 Expenses - Parent (178) (190) Expenses - Subsidiaries (301) (325) Non Controlling interest (38) (
Slide 11: YTD Sep 2018 Financial Position
YTD SEP 2018 FINANCIAL POSITION TOTAL ASSETS MARKET CAP1 DEBT CASH AED 12.4bn AED 3.9bn AED 6.9bn AED 871mn AED MILLIONS 30 SEP 2018 31 DEC 2017 Cash 871 520 Investments in equity-accounted investees & Assets held for sale 4,618 5,540 Investment Property 773 759 Other Investments2 5,254 3,818 Other
Slide 12: Three-Year Financial Performance
THREE-YEAR FINANCIAL PERFORMANCE 3-YEAR AVERAGE 3-YEAR AVERAGE 3-YEAR AVERAGE 3-YEAR AVERAGE EARNINGS PER SHARE RETURN ON EQUITY DIVIDEND YIELD DIVIDEND PER SHARE AED 0.26 12.2% 9.2% AED 0.19 WITH AVERAGE PAYOUT RATIO OF 76% EPS RoAE DIVIDEND YIELD DPS & PAYOUT % IN AED IN PERCENTAGE IN PERCENTAGE I
Slide 13: Three-Year Financial Performance
THREE-YEAR FINANCIAL PERFORMANCE AVERAGE TOTAL INCOME AVERAGE NET PROFIT AVERAGE EPS AVERAGE RETURN ON EQUITY AED 1.1bn AED 474m AED 0.26 12.2% IN AED MILLIONS YE 2015 YE 2016 YE 2017 Total Income 1,096 1,150 1,161 Expenses – Parent (195) (270) (270) Expenses – Subsidiaries (323) (477) (437) Non-con
Slide 14: Waha Capital - Performance vs. Peers
WAHA CAPITAL - PERFORMANCE vs. PEERS Waha Capital has AVERAGE ROE AVERAGE ROA performed strongly 7.3% 0.3% across most metrics over the last 3 years 10.5% 4.5% 11.3% 3.8% AVERAGE COST TO INCOME RATIO AVERAGE CAPITAL UTILIZATION LEGEND 65.1% 85.1% KIPCO 67.1% 92.6% Investcorp Banking BSC Waha Capital
Slide 15: Business Highlights
15 BUSINESS HIGHLIGHTS
Slide 16: Private Investments
PRIVATE INVESTMENTS OVERVIEW By leveraging its extensive network and sector expertise, our Private Investments business is capable Over the past ten years, Waha Capital has built an impressive of generating significant income and cash flows on a track record in managing proprietary investments by
Slide 17: Private Investments Portfolio
PRIVATE INVESTMENTS PORTFOLIO SECTOR CORE INVESTMENTS STAKE AVIATION AerCap Holdings 13.72% FINANCIAL SERVICES Dunia Finance 25.0% INDUSTRIAL REAL ESTATE Waha Land 100.0% 33.3% (GP) INFASTRUCTURE MENA Infrastructure Fund 17.9% (LP) ENERGY National Energy Services Reunited 5.8% ENERGY Stanford Marine
Slide 18: Private Investments: AerCap
PRIVATE INVESTMENTS AERCAP OVERVIEW YTD Sep 2018 Diluted EPS of USD 5.21 , compared to USD Stable and healthy industry with favourable outlook 4.77 in 2017 Significant cash flow generation capability Focus on selective and disciplined growth and on-going portfolio management Conservative, lo
Slide 19: AerCap YTD Sep 2018 Key Highlights
PRIVATE INVESTMENTS AERCAP YTD SEP 2018 KEY HIGHLIGHTS YTD Net income of $783.0 million, compared with $809.9 million for the same period USD m 2011 2012 2013 2014 2015 2016 2017 SEP in 2017. 2018 Diluted earnings per share of $5.21, compared with $4.77 for the same period in 2017. Total 99.4%
Slide 20: AerCap Share Price Performance
PRIVATE INVESTMENTS AERCAP SHARE PRICE PERFORMANCE AND VOLUME SINCE ANALYST/ CONSENSUS ESTIMATES ACQUISITION 70 share price Volume 45.0 Provider Date Recommendation Target USD 60 40.0 RBC Capital Markets Nov-18 Outperform 74 35.0 50 Macquarie Nov-18 Outperform 71 30.0 40 25.0 Wells Fargo Securities
Slide 21: National Energy Services Reunited
PRIVATE INVESTMENTS National Energy Services Reunited OVERVIEW NPS HOLDING LIMITED Waha acquired a 5.8% stake in a NASDAQ-listed entity - NESR - as part of exit consideration of Regional provider of products and services to the oil and gas industry in the Middle East, NPS Holdings Limited. North
Slide 22: Channel VAS
PRIVATE INVESTMENTS CHANNEL VAS OVERVIEW In September 2017, Waha Capital acquired a 20% stake in Dubai-based SERVICE OFFERINGS fintech firm Channel VAS for a consideration of AED 200.5 million CVAS is a premium fintech company providing financial services to the subscribers of mobile operators i
Slide 23: SDX Energy Inc
PRIVATE INVESTMENTS SDX ENERGY INC OVERVIEW OWNERSHIP Engaged in the exploration for and development and production of oil and natural gas, with properties located in the Arab Republic of Egypt and the Kingdom of Morocco. SDX trades on the Toronto Venture Stock Exchange (“TSX-V”) in Canada and o
Slide 24: SDX Energy YTD Jun 2018 Key Highlights
PRIVATE INVESTMENTS SDX ENERGY INC YTD JUN 2018 KEY HIGHLIGHTS KEY HIGHLIGHTS Significant operational progress across portfolio with discoveries from 20 of the 23 wells drilled, representing success rate of 87% AED m JUN 2018 JUN 2017 VARIANCE Production of 3,234 boe/d compared to 3,180 boe/d in
Slide 25: Waha Land
PRIVATE INVESTMENTS WAHA LAND OVERVIEW DEVELOPED SIUs Waha Capital received a 6 km2 land grant from the Government of Abu Dhabi in Stage 1 2007 to develop a mixed use industrial park ▷ Nine shell and core buildings with total leasable area of 90,000 m2; buildings The project was divided into fou
Slide 26: MENA Infrastructure Fund
PRIVATE INVESTMENTS MENA INFRASTRUCTURE FUND OVERVIEW Established in 2007, MENA IF is a 10-year fund with capital commitments of USD 300 INVESTMENTS DESCRIPTION STAKE (%) million based in DIFC Hajr Electricity Production 3.9GW gas-fired IPP in KSA GP sponsors comprise Waha Capital, Fajr Capital
Slide 27: Anglo Arabian Healthcare
PRIVATE INVESTMENTS ANGLO ARABIAN HEALTHCARE Anglo Arabian Healthcare (AAH) is among the largest healthcare OVERVIEW provider networks in the UAE. AAH employs a buy and build strategy, UAE healthcare company, with an initial focus on hospitals, clinics and supplementing acquisitions with strategic
Slide 28: Anglo Arabian Healthcare Key Financial Highlights
PRIVATE INVESTMENTS ANGLO ARABIAN HEALTHCARE KEY FINANCIAL HIGHLIGHTS CONSOLIDATED FINANCIAL HIGHLIGHTS HealthBay added a dental clinic in YTD Sep 2018, complementing its multispecialty medical complex in Dubai, offering a wide range of YTD specialized healthcare facilities AED m 2013 2014 2015 20
Slide 29: Asset Management
ASSET MANAGEMENT OVERVIEW Waha’s Asset Management business focuses on developing and managing Capitalizing on a strong track record, Asset investment funds, and inviting third party investors to invest along with Management business offers third party investors the Waha Capital in these investment
Slide 30: Asset Management - Funds
YTD Sep 2018 Business Highlights Asset Management - Funds CEEMEA CREDIT RETURN MENA EQUITY RETURN MENA VALUE RETURN 10.1% YTD Sep 2018 9.6% YTD Sep 2018 0.6% YTD Sep 2018 146.1% Since inception Jan 2012 119.7% Since inception Jan 2014 25.8% Since inception Jan 2014 CEEMEA CREDIT FUND MEN
Slide 31: Asset Management Awards
ASSET MANAGEMENT AWARDS Best GCC Equity Fund and Best Fixed Best Fixed Income Fund #1 Fund in Emerging Markets Income ME Manager UAE 2016 Eastern Europe Best MENA Equity Fund Best MENA Equity Fund Best Diversified Asset Manager > $50m > $50m Investor Presentation | NOV 2018 31
Slide 32: Organisation & Governance
32 ORGANISATION & GOVERNANCE
Slide 33: Board of Directors
BOARD OF DIRECTORS Ahmed Bin Ali Al Dhaheri Carlos Obeid Khaled Al Shamlan Vice Chairman Director Director H.E. Salem Rashid Al Noaimi Chairman Mohamed Hussain Al Nowais Rasheed Ali Al Omaira Rashed Darwish Al Ketbi Director Director Director
Slide 34: Management Team
MANAGEMENT TEAM Waha Capital’s strategy is executed by a team of highly experienced professionals Michael Raynes Sana Khater Chakib Aabouche Abdellah Sbai Chief Executive Officer Chief Financial Officer Chief Risk Officer Chief Strategy Officer Mohamed Eljamal Peter Howley Ergham Al Bachir Amer Aidi
Slide 35: Company Milestones
COMPANY MILESTONES Founded in 1997 and listed on ADX in 2000, Waha Capital has transformed from a business operator to an investment company; its investment management arm acquired a financial investment company license from the UAE Central Bank in 2013 and from SCA in 2016 2008 2009 2010-12 2013 20
Slide 36: Summary & Outlook
SUMMARY & OUTLOOK • Streamlined organization aligned with its two core activities – Private Investments and Asset Management • Diversified asset base and revenue streams between Private Investments and Asset Management : Private Investments delivers on value creation and cash realization; with str
Slide 37: Disclaimer
DISCLAIMER This document is not an offer, invitation or recommendation to subscribe to or purchase any securities. Nothing in this document shall form the basis of any contract or commitment whatsoever. This document contains forward-looking statements. Forward-looking statements can be identified b
Slide 38: Waha IR
WAHA IR Our IR App will keep you up-to-date with the latest developments – from the latest share prices and press releases, to investor days, financial results and our reports library on the go. Download it now.
Slide 39: Thank You
JUL alg JI WAHA CAPITAL THANK YOU