Mabanee Company (sakc) · KSE:MABANEE
Mabanee Company (sakc) — Mabanee Company — Q3 2022 Earnings Presentation
34 slides from Mabanee Company (sakc)'s earnings presentation, Oct 26, 2022
Slide 1: Boursa Kuwait disclosure letter for analyst conference
ggabanee Ref: M.C/E.M/307/2022 To: Boursa Kuwait Subject: Analyst/Investor Conference Presentation of 2022/10/26 :iu,ls3l 2022/307/¢.1/p..3:3,L291 ce Creed cul Aye gy AS 4 /SoLiutl Mabanee’s (K.P.S.C) Company for Q3/2022 With reference to the aforementioned subject, and as per article No. (8-4-2) “C
Slide 2: Q3-2022 Results Presentation
Q3-2022 Results Presentation Period Ended September 30, 2022 October 2022
Slide 3: Presenters
rr silo abanee =e Wensies Tareq Al-Adsani Doputy Chief Executive Officor eee Wlevanes Salman Asadulla Corporate Finance Unit Heed 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 9M-2022
PERFORMANCE HIGHLIGHTS 9M-2022 Strong Group KD 82.59 Mn. KD 61.89 Mn. KD 45.25 Mn. performance + 11.99% +10.66% +11.30% • Revenue • EBITDA • Net Profit • Continued commitment on strategy execution • Despite ongoing challenging global environment, Mabanee continued to perform very well Business with
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 96.0% Footfall recovery to pre-pandamic levels 100% 94% 90% 78% 94.7% 80% 70% 59% 94% 60% PLOT AREA BUILT-UP AREA 50% 393,800 1,278,300 40% 93% 30% SQM SQM 20% PARKING NUMBER OF ANCHORS 10% 14 CAPACITY S
Slide 9: Hilton Garden Inn - Kuwait
HILTON GARDEN INN - KUWAIT HILTON GARDEN INN PLOT AREA BUILT-UP AREA 16,770sqm 35,000sqm 385 NO. KEY • Connected to the north side of The Avenues. OPERATOR • Hotel’s RevPar for 9-months period 2022 increased by 51% compared to last year. HILTON WORLDWIDE • 9-months Occupancy at 39.22 %, +11% points
Slide 10: Waldorf Astoria - Kuwait
WALDORF ASTORIA - KUWAIT Waldorf Astoria PLOT AREA BUILT-UP AREA 14,500sqm 47,800sqm • A five-star luxury business and leisure hotel connected to the south side of The 200 NO. KEY Avenues through the Prestige District. • Latest addition to the Group’s expanding hospitality portfolio. OPERATOR • Soft
Slide 11: Aventura (J3) - Kuwait
AVENTURA (J3) - KUWAIT CMYK MABANEE’S OWNERSHIP PROJECT TYPE 35% PPP project* 445 MALL BUA MALL GLA NUMBER OF UNITS • Mabanee, the Lead Developer of a Consortium of Companies selected as the “preferred 295,000 108,200 investor” for the J3 Jaber Al Ahmad Investment Opportunity from The Public Authori
Slide 12: Sabah Al Ahmad (S3) - Kuwait
SABAH AL AHMAD (S3) - KUWAIT PANTON PLOT AREA SOUK PLOT AREA 40,121 sqm 32,451sqm 110 66,053 • Selected HOTEL BUA as the “preferred investor” for the S3 Sabah Al Ahmad Investment ROOMS Opportunity from The Public Authority for Housing Welfare (PAHW). HOTEL OPERATOR PROJECT TYPE • Commercial mixed-us
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 95.5% 92.5% 90% 89% PLOT AREA BUILT-UP AREA 272,000 sqm 136,000sqm 1,420 120 PARKING CAPACITY NUMBER OF UNITS 2019 2020 2021 Sep-22 10 3 • Located at the heart of Manama, was inaugurated in 2017. The design is inspired by CINEMAS DISTRICTS MA
Slide 15: Hilton Garden Inn - Bahrain
HILTON GARDEN INN - BAHRAIN PLOT AREA BUILT-UP AREA 2,000sqm 23,600sqm 192 NO. KEY • Located in the heart of Bahrain Bay and directly connected to The Avenues - Bahrain. OPERATOR • Good turnout on account of Eid al Adha, summer Holidays across GCC as well as HILTON WORLDWIDE other public holidays, c
Slide 16: West Expansion The Avenues - Bahrain
WEST EXPANSION THE AVENUES - BAHRAIN THE AVENUES PHASE I THE AVENUES PHASE II 115,870 BUILT-UP AREA Mabanee’s onwership sqm 35% 248 RETAIL UNITS MANAGEMENT 100% • 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 a
Slide 17: KSA
KSA • THE AVENUES - KHOBAR • THE AVENUES - RIYADH 16
Slide 18: The Avenues - Riyadh
THE AVENUES - RIYADH OA D THE AVENUES N R RIYADH A ALM GS KIN KIN GF AH AD RO AD 60% 387,700 MABANEE’S OWNERSHIP LAND sqm MANAGEMENT • On-site construction and external roads improvement works continues. 1,505,000 MALL & INFRASTRUCTURE BUA • 11.42% main contract progress as at end of September. 100%
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 BUILT-UP AREA • Enabling and bulk excavation works at 76% progress until date. 100% sqm • Enabling and bulk estimated to be completed in Dece
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-PHASE2 BAHRAIN KUWAIT J3-AVENTURA KUWAIT S3-SOUK SABAH (TO BE DETERMINED) * Projects’ t
Slide 21: Financial Highlights Performance
Financial Highlights Performance Period ending September-30 2022
Slide 22: Profitability Indicators
Profitability Indicators Higher occupancy at The Avenues in comparison to the previous periods has translated into a 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. The interest coverage has declined with the growing central bank discount rate compared to the previous periods and the cessation of borrowing cost capitalization of our recently completed project, W
Slide 24: Performance Ratios - The Group
Performance Ratios - The Group 23
Slide 25: Performance Ratios - The Avenues
Performance Ratios - The Avenues Higher occupancy at The Avenues in comparison to the previous periods has translated into a year on year growth. 24
Slide 26: Performance Ratios - Hospitality
Performance Ratios - Hospitality Strong performance with high RevPAR and ADR with improved occupancy with the results now including the results of Waldorf Astoria Hotel. 25
Slide 27: Debt Structure
Debt Structure abanee Debt to Equity % Debt to Asset % -0.76% 4.94% 0.44% -2.20% = = ; Q3-21 Q4-21 Q3-21 Q4-21 Q3-22 Net Debt KD Mn 13.19% ~10.02% t 278.88 246.38 as2t eat asz 26
Slide 28: Financial Ratio and Shares
Financial Ratio and Shares Investment in asset creation, shareholder’s satisfaction along with retention of profits to fund our expansion has resulted in stable performance. 27
Slide 29: Group's Geographical Spread of Assets KD'000
Group’s Geographical Spread of Assets KD’000 808,488 293,019 18,100 28
Slide 30: Appendix
Appendix
Slide 31: Consolidated Statement of Income
Consolidated Statement of Income 30
Slide 32: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position 31
Slide 33: Q&As
Q&As wavanes
Slide 34: 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