Al Dar Properties · ADX:ALDAR
Al Dar Properties — Q1 2018 Earnings Presentation
20 slides from Al Dar Properties's earnings presentation, May 2018
Slide 1: Aldar Q1 2018 Results Presentation
Q1 2018 Aldar Q1 2018 Results RESULTS PRESENTATION
Slide 2: Disclaimer
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Slide 3: Q1 2018 At a Glance
Financial Development Asset Management AT A GLANCE ❑ Net profit up 4% to AED 668 ❑ Q1 development sales of AED ❑ Resilient portfolio performance million supported by 681 million during quarter infrastructure handovers ❑ Two new launches – Reflection ❑ Q1 2018 NOI stable at AED 396 ❑ Revenue of AED 1
Slide 4: Development Launches
Reflection Alghadeer DEVELOPMENT LAUNCHES ❑ Residential development located on Reem ❑ Launched at CityScape Abu Dhabi 2018 Island ❑ Located within Seih Sdeirah land bank ❑ First tower (192 units) launched for sale end of March ❑ 611 unit first phase launched in April 2018 ❑ c.45% sold to date as at
Slide 5: Q1 2018 Asset Management Highlights
Q1 2018 ASSET Q1 2017 NOI split – AED 402 million Q1 2018 NOI split – AED 396 million MANAGEMENT 29 19 29 13 141 131 HIGHLIGHTS 89 105 124 118 Retail Residential Commercial Hospitality Adjacent & other Retail Residential Commercial Hospitality Adjacent & other ❑ Retail NOI decline predominantly refl
Slide 6: Strategic Partnership with Emaar
Overview Saadiyat Grove Emaar Beachfront PARTNERSHIP ❑ ❑ MoU signed in March 2018 Finalising JV structure and STRATEGIC governance ❑ To focus on national and international opportunities ❑ Will accelerate development pipeline – 9,000 units between EMAAR first two projects (Saadiyat Particulars Detail
Slide 7: Recent Acquisition Overview
ACQUISITION Asset Management Projects under development Land plots ❑ 14 operating assets acquired ❑ 2 projects under development ❑ Secure prime Saadiyat land for AED 1.6 billion acquired will expand plots complimentary to development pipeline with 600 existing Aldar land bank ❑ Initial annualized NO
Slide 8: New Corporate Structure
NEW CORPORATE o New structure to prepare development and asset management to operate independently o Separate debt and dividend policies in place o Designed to drive greater operational and capital efficiency STRUCTURE o Prepare Aldar for this new phase of accelerated growth, in line with its strate
Slide 9: Summary
Development ❑ Continue to see development opportunities across the market ❑ Emaar JV and recent asset acquisition to expand development pipeline and drive growth Asset Management ❑ Resilient performance across all key sectors SUMMARY ❑ Near term growth expected following addition of AED 1.6 billion
Slide 10: Appendix
APPENDIX Aldar Q1 2018 Results
Slide 11: Development Pipeline: Handover Projects
COMMENCED HANDOVER Nareel Island Type: Exclusive land plots for villa development Land: Non-investment zone DEVELOPMENT Location: Nareel Island, off Abu Dhabi Island Units launched: 148 Sold as at 31 Mar 2018: 65% HANDED OVER Ansam Type: Prime residential apartments Land: Investment zone PIPELINE Lo
Slide 12: Development Pipeline: Mamsha, Meera, Mayan, West Yas
EXPECTED COMPLETION: 2019 EXPECTED COMPLETION: Q4 2018 Mamsha Meera Type: Beachfront residential apartments Type: Residential apartments Land: Investment zone Land: Investment zone Location: Saadiyat Island Location: Reem Island Units launched: 461 Units launched: 408 Sold as at 31 Mar 2018: 91% EXP
Slide 13: Development Pipeline: Water's Edge, The Bridges, Reflection
EXPECTED COMPLETION: 2020 The Bridges Type: Mid-market residential apartments Land: Investment zone Location: Reem Island Units launched: 636 Sold as at 31 Mar 2018: 93% EXPECTED COMPLETION: 2021 Reflection Type: Mid-market residential apartments Land: Investment zone Location: Reem Island Units lau
Slide 14: Development Summary
Project Location Recognition Launch Total as at 31 Mar 2018 * Expected completion date Sold Sold unit sales Units % sold Revenue units ¹ value (AEDm) ¹ launched backlog DEVELOPMENT Completed in Q4 Ansam Yas Island Over-time 2014 512 879 547 94% - 2017 Completed in Q4 Hadeel Al Raha Beach Over-time 2
Slide 15: Financial Statements
Profit and loss Balance sheet AED millions 2018 Q1 2017 Q1 As at As at STATEMENTS AED millions 31 Mar 2018 31 Dec 2017 Revenues 1,470 1,578 Direct costs (754) (825) Property, plant and equipment 2,859 2,931 Gross profit 715 753 FINANCIAL Investment properties 16,141 16,076 Gross profit Margin 49% 48
Slide 16: Segmental Analysis
2018 Q1 recurring revenues of AED 725 million (2017 Q1: AED 723 million) ¹ 2018 Q1 Segmental Revenue Performance 574 AED Millions 534 433 437 419 306 SEGMENTAL 131 130 60 23 Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Property Development ANALYSIS Q1 2017 Q
Slide 17: Government Receivables
Remaining GOVERNMENT RECEIVABLES Remaining cash inflows P&L events Transaction (AEDm) 2018 2019 Total Other income Sale of Al Raha Beach Land ¹ 285 95 380 - Infrastructure recoverables ² 362 536 898 347³ 647 631 1,278 347 ¹ Al Raha Beach land plot handed over in Q3 2016 with a payment plan structure
Slide 18: Investment Plan
COMPLETED IN Q3 2017 Repton School Type: Commercial Location: Abu Dhabi Island GLA: 20,000 sqm INVESTMENT ACQUIRED IN Q4 2015 Daman House Type: Commercial office building Location: Abu Dhabi Island GLA: 23,000 sqm ACQUIRED IN Q4 2017 PLAN International Tower Type: Commercial office building Location
Slide 19: Future Projects and Acquisitions
EXPECTED COMPLETION: 2020 DESIGN STAGE DESIGN STAGE Water’s Edge Shams Marina Yas Mall Hotel Type: Residential Type: Mixed-use Type: Hospitality Location: Yas Island Location: Reem Island Location: Yas Island Units: c.800 Overview: Hotel, long-stay apartments and Keys: 349 residential EXPECTED COMPL
Slide 20: Contact Us
CONTACT US For any further enquiries please contact: Chris Wilson Mohamed ALMaazmi Head of Investor Relations Investor Relations + 971 2 810 5624 + 971 2 810 5866 cwilson@aldar.com malmaazmi@aldar.com Aldar Q1 2018 Results 19