Al Dar Properties · ADX:ALDAR
Al Dar Properties — Q2 2021 Earnings Presentation
26 slides from Al Dar Properties's earnings presentation, Aug 11, 2021
Slide 1: Q2 & HY 2021 Results Presentation
Q2 & HY 2021 Results Presentation Quarter Ended 30 June 2021 Aug 11, 2021
Slide 2: Disclaimer
DISCLAIMER This disclaimer governs the use of this presentation. You must not rely on the information in the presentations and alternatively we recommend you seek advice from an appropriately qualified professional. If you have any specific questions about any matter in this presentation you should
Slide 3: Q2 & HY 2021 Results Summary
Q2 & HY 2021 RESULTS SUMMARY
Slide 4: Excellent Performance in Q2 2021
EXCELLENT PERFORMANCE IN Q2 2021 ▪ Development: ─ Fourth consecutive quarter with AED 1bn+ sales, Q2 records highest-ever sales quarter of AED 2.35bn (+361% y-o-y) Very strong Group ─ Revenue backlog of AED 4.25bn +28% on Q1 21 driven by several successful project launches (Noya Viva, Noya Luma) per
Slide 5: Q2 & HY 2021 Financial Results in Summary
Q2 & HY 2021 FINANCIAL RESULTS IN SUMMARY Another strong Group performance Record quarter for Development ▪ Q2 21 Revenue up 9% to AED 2.19bn ▪ Q2 21 Revenue up 7% to AED 1.35bn (HY 21 up 12% to AED 4.23bn) (HY 21 up 22% to AED 2.53bn) ▪ Q2 21 GP up 15% to AED 0. 82bn ▪ Q2 21 Sales up 361% to AED 2.
Slide 6: Development Highlights – Q2 & HY 2021
DEVELOPMENT HIGHLIGHTS – Q2 & HY 2021 ▪ Record quarter for Development, driven by several development launches of scale and higher contribution from fee segment AED bn Q2 21 Q2 20 Variance HY 21 HY 20 Variance ▪1 Sales ▪ Record sales with several new launches of scale (Noya Viva, 1 Development Sales
Slide 7: Investment Highlights – Q2 2021 & HY 2021
INVESTMENT HIGHLIGHTS – Q2 2021 & HY 2021 ▪ Improving NOI performance by Investment Properties segment supported by strong performances by Aldar Education and Provis AED bn Q2 21 Q2 20 Variance H1 21 H1 20 Variance ▪1 Investment Properties – Q2 21 NOI +23% y-o-y, Recurring revenue2 0.78 0.64 21% 1.5
Slide 8: Investment Properties – HY 2021 NOI Bridge
1,2 INVESTMENT PROPERTIES – HY 2021 NOI BRIDGE 634 4 12 643 -7 Commercial 200 193 Commercial Key drivers LfL rates down c.3% LfL rates up c.7% LfL rates down c.2% Occupancy at 89% Occupancy at 86% Occupancy at 90% (vs. Retail 200 212 Retail (vs. 88% at Q2 20) (vs. 88% at Q2 20) 90% at Q2 20)3 Strong
Slide 9: Investment Properties – Key Performance Indicators
INVESTMENT PROPERTIES – KEY PERFORMANCE INDICATORS Retail Residential Commercial No. of properties 34 13 15 Leasable area (sqm) 0.5m 0.9m 0.3m Portfolio occ. 86% 89% 90% WAULT (years) 3.1 3.2 3.6 NOI margin – HY 21 70% 84% 79% vs. Q1 2021 up down flat 8
Slide 10: Aldar Education and Principal Investments
ALDAR EDUCATION AND PRINCIPAL INVESTMENTS ▪ Aldar owns several strategic businesses that work alongside / support the broader offering of Aldar’s two core businesses, Investment and Development ▪ These high growth businesses fall under the segments, Aldar Education and Principal Investments (Khidmah
Slide 11: Balance Sheet
BALANCE SHEET Robust balance sheet position… ...supported by prudent capital management and strong governance As at 30 June As at 31 Dec Investment Development AED "000" 2021 2020 ASSETS Outstanding Debt ▪ Sukuk: 3.7bn Breakdown (AED bn) ▪ Bank: 0.6bn Property, plant and equipment 2,885,005 2,961,52
Slide 12: EPRA Disclosure
EPRA DISCLOSURE The Grove, Saadiyat Island
Slide 13: Adjusted EPRA Earnings
ADJUSTED EPRA EARNINGS1 ▪ EPRA Earnings represents the performance of recurring activities which relate specifically to the Group’s asset management business, Aldar Investment 2 ▪ ‘Adjusted’ EPRA Earnings also captures the contribution of Aldar Development, which represents a significant portion of
Slide 14: EPRA NAV
EPRA NAV ▪ EPRA NAV measures the value of Aldar based on changes in equity and changes in value of asset portfolios, liabilities, and property development. Aldar’s EPRA NAV figures are based on the fair value of the Group’s assets (including fair value of certain land which is historically carried a
Slide 15: EPRA Yield
EPRA YIELD ▪ The EPRA yields are calculated for Aldar’s Investment Properties (IP) segment that includes retail, residential and commercial use properties. Fair valuation of all IP is undertaken at Year End and at HY for the top 9 assets representing 65% of total IP GAV (the latter practice began th
Slide 16: EPRA Vacancy Rate and Cost Ratios
EPRA VACANCY RATE AND COST RATIOS ▪ EPRA vacancy rate is defined as the ratio between the estimated rental value of vacant space and the estimated rental value of the entire Investment Properties portfolio. Properties under development are not included in the calculation of this ratio. EPRA vacancy
Slide 17: Appendix
Replace with photo APPENDIX Al Muneera, Al Raha Beach
Slide 18: Segmental Breakdown – Q2 2021 vs. Q2 2020 & Q1 2021
SEGMENTAL BREAKDOWN – Q2 2021 vs. Q2 2020 & Q1 2021 Q2 2021 revenue of AED 2.1bn (Q2 2020: AED 1.9bn, Q1 2021: 1.9bn)1 982 1033 802 412 383 419 367 384 156 232 74 93 136 96 127 124 125 40 Investment Properties Hospitality & Leisure Education Principal Investments(1) Property Development & Sales 2 Pr
Slide 19: Segmental Breakdown – H1 2021 vs. H1 2020
SEGMENTAL BREAKDOWN – H1 2021 vs. H1 2020 H1 2021 revenue of AED 4.1bn (H1 2020: AED 3.5bn)1 1,784 1,716 830 801 750 262 300 254 357 167 181 224 Investment Properties Hospitality & Leisure Education Principal Investments(1) Property Development & Sales Project Management Services H1 2021 H1 2020 H1
Slide 20: Development Pipeline Summary
DEVELOPMENT PIPELINE SUMMARY Total as at 30 Jun 21 Expected Project Location Launch date Sold units Net Sales value Units launched % sold % completion completion Highlights (AEDm) Ansam Yas Island 2014 547 959 547 100% 100% Handed over Hadeel Al Raha Beach 2014 232 481 233 100% 100% Handed over ▪ Q2
Slide 21: Land Bank Overview
LAND BANK OVERVIEW ▪ Aldar owns a sizeable land bank in key investment zones in Abu Dhabi, providing a distinct advantage versus other developers ▪ 65m sqm undeveloped landbank comprised of c.14m sqm with c.12m sqm of approved GFA and c.51m sqm with GFA yet to be confirmed/approved Landbank Summary
Slide 22: UAE Policy Reforms and Energy Strategy
UAE POLICY REFORMS AND ENERGY STRATEGY Federal announcements Energy industry plans ▪ Rapid rollout of a major vaccination campaign underpin economic recovery. As of August 2021, ▪ ADNOC will continue to deliver on its 2030 strategy, including its value maximization the UAE administered almost 17 mil
Slide 23: Refreshed Sustainability Framework
REFRESHED SUSTAINABILITY FRAMEWORK Our Mission Our Vision Place our customers first by embedding sustainability, Become a leading regional real estate developer and quality, technology and innovation in everything we do manager that creates memorable experiences and value for our customers and share
Slide 24: Key Sustainability Updates
KEY SUSTAINABILITY UPDATES ▪ Top-rated real estate company in the UAE across ADX and DFM (ESG Invest) as of year end 2020 ▪ First MENA Real Estate company to secure a Sustainability-Linked Loan (AED 300m bilateral facility with HSBC) in Jun-21 ▪ Early TCFD supporter and completed a business-level cl
Slide 25: Contact Us
CONTACT US For any further enquires please contact: Samar Khan Head of Investor Relations Tel: +971 (0)2 810 5624 Email: skhan@aldar.com Basma Almheiri Investor Relations Tel: +971 (0)2 810 5992 Email: balmheiri@aldar.com 21
Slide 26: ALDAR.COM
ALDAR.COM