Alandalus Property Co. · TADAWUL:4320
Alandalus Property — Q2 2023 Earnings Presentation
32 slides from Alandalus Property's earnings presentation, Aug 1, 2023
Slide 1: Investor Presentation Q2 2023
Alandalus Property Q2 2023 Investor Presentation Q2 2023
Slide 2: Disclaimer
Disclaimer Alandalus Property Q2 2023 The information contained in this presentation is subject to change without further notice, its accuracy is not guaranteed, and it may not contain all material information concerning the company. Neither we nor our advisors make any representation regarding, and
Slide 3: Contents
Contents Alandalus Property Q2 2023 Overview 4 Operational Performance 12 Financial Performance 20 3
Slide 4: Overview
Overview Alandalus Property Q2 2023 4
Slide 5: Alandalus Property is a pioneering Tadawul-listed real estate company
Change picture Alandalus Property Q2 2023 Alandalus Property is a pioneering Tadawul-listed real estate company involved in the investment, development and operation of income- generating properties across the Kingdom of Saudi Arabia
Slide 6: Mission and Vision
Mission To develop and operate unique and compelling destinations differentiated by engaging guests, customers and communities through experiences that foster loyalty, frequency of visits and lifetime value which ultimately drive and sustain unparalleled growth Vision To become the most admired and
Slide 7: Q2 2023 Performance at a Glance
Q2 2023 Performance at a Glance Alandalus Property Q2 2023 5.7 m 108m 66% Total Mall Footfall Revenue (SAR) Gross Profit Margin 96.2% 55% 70% Avg Occupancy Rate of Operating Profit Margin EBITDA Margin Regional Malls Portfolio 7
Slide 8: Commercial Sectors
Commercial Sectors Alandalus Property Q2 2023 RETAIL HOSPITALITY OFFICES HEALTHCARE Super Regional Regional Strip Malls Malls Malls Al Andalus Salama West Jeddah Mall Hotel Tower Hospital QBIC Building 8
Slide 9: Strategic Objectives
Strategic Objectives Alandalus Property Q2 2023 Each business unit has a common set of strategic objectives that drive operations and functional focus Stakeholder Operational Project Strategic Investments Engagement Performance Acquisition & Partnerships Collaborate with all Drive footfall by Identi
Slide 10: Our Six Pillar Strategy to Enhance Value & Generate Growth
Alandalus Property Our Six Pillar Strategy to Enhance Value & Generate Growth Q2 2023 Pillars Retail Food & Interactive Neighboring Entertainment Services offerings Beverage Engagement Developments • Partner with key • Distinctive with • Unique, • Leverage • Physical and • Locate new retail houses m
Slide 11: Commercial Principles
Commercial Principles Alandalus Property Q2 2023 Assets should always be Retail and hospitality properties operative, never idle developed as standalone or mixed-use; healthcare properties developed only as mixed-use A healthy balance sheet APC not vertically integrated with liquid assets and low wi
Slide 12: Operational Performance
Operational Alandalus Property Q2 2023 Performance
Slide 13: Retail
Retail Alandalus Property Q2 2023 TYPE # OF MALLS GLA TOTAL FOOTFALL Super Regional 2 178k 4.7M Malls Regional Malls 1 44k 1M Strip Malls 4 28k N/A 13
Slide 14: Hospitality
Hospitality Alandalus Property Q2 2023 Profile Profile Alandalus Mall hotel Location: Jeddah Area: 28,255 sqm Ownership: Al Ahli REIT Fund I (68.73% APC) Operated by: Alandalus Property. Occupancy Rate: 59% RevPAR: SAR 198 14
Slide 15: Offices: Salama Tower
Offices Alandalus Property Q2 2023 Profile Salama Tower Location: Jeddah Net Leasable 31,420 sqm Area: Ownership: Al Ahli REIT Fund I (68.73% APC) Annual Rental SAR 23 million Value: Rental Period: 5 years since AUG 2019 15
Slide 16: Offices: Qbic Plaza
Offices Alandalus Property Q2 2023 Profile Qbic Plaza Location: Riyadh Net Leasable sqm Area: Ownership: Al Ahli REIT Fund I (68.73% APC) Annual Rental SAR million Value: Rental Period: 3 years since JUN 2020 16
Slide 17: Ongoing Investments
Ongoing Investments Alandalus Property Q2 2023 The Vallage Mall Location: ▪ Jeddah Type: ▪ Super Regional Mall Area: ▪ 124,880 sqm Ownership: ▪ Al-Jawhara Al-Kubra (25% APC) Total expected project cost: ▪ SAR 873 million Expected Opening: ▪ soft opening Q2 2023 West Jeddah Hospital Location: ▪ Jedda
Slide 18: Ongoing Investments
Ongoing Investments Alandalus Property Q2 2023 Al-Sawari District Land Project Location: ▪ Jeddah Type: ▪ BOD still studying the best investment for the land Area: ▪ 130,477 sqm Ownership: ▪ Sorouh Al-Marakez (25% APC) Umm Jurfan Land Project Location: ▪ Makkah Type: ▪ BOD still studying the best in
Slide 19: Ongoing Investments
Ongoing Investments Alandalus Property Q2 2023 Alandalus Mall Expansion Location: ▪ Jeddah Type: ▪ Adding an external space for food and beverage in addition to a parking building Area: ▪ 15000 m2 Ownership: ▪ Owned by AlAhli REIT Fund (1) where APC owns 68.73% of its stakes Total expected project c
Slide 20: Financial Performance
Financial Alandalus Property Q2 2023 Performance
Slide 21: Revenue
Revenue Alandalus Property Q2 2023 220 +8 % 216 (SAR Millions) 108.4 m 100% Revenue 214 +0.95 % 176 168 165 147 107.4 108.4 71.9% Retail m m Q2 7.2% Hospitality 21.0% Offices 0 2017 2018 2019 2020 2021 2022 Q2 2023 Q2 2023 21
Slide 22: Gross Income & Margin
Gross Income & Margin Alandalus Property Q2 2023 Gross Margin (%) Gross Income (SAR Million) 150 100% + 11 % 68% 66% 66% 100 58% 57% 58% 57% Gross Margin (SAR Millions) 142.4 Gross Income 6Y Avg: 60.5% (%) 145.0 50 102.4 95.7 -4.1 % 93.7 84.4 71.7 m 74.2 m Q2 Q2 0 0% 2017 2018 2019 2020 2021 2022 Q2
Slide 23: Operating Income & Margin
Operating Income & Margin Alandalus Property Q2 2023 Operating Margin (%) Operating Income (SAR Million) 150 100% 3.2% 74% 100 Operating Income 59% 58% 59% Operating Margin (SAR Millions) 6Y Avg: 55.9% 56% 55% 127.3 50% (%) 125.1 108.8 104.2 29% 50 92.6 -6.7 % 63.9 59.6 48.3 m m Q2 Q2 0 0% 2017 2018
Slide 24: EBITDA & Margin
EBITDA & Margin Alandalus Property Q2 2023 EBITDA Margin (%) EBITDA (SAR Million) 150% 5.8 % 150 100% EBITDA Margin 161.3 EBITDA Income (SAR Millions) 100 83% 70.0%* 72% 74% 74.7% 69.7% 6Y Avg (%) 67% 158.2 127.3 48% 122.0 -6.9 % 50% 110.9 50 81.2 81.2 m 75.6 m Q2 Q2 0 0% 2017 2018 2019 2020 2021 20
Slide 25: Net Income (shareholders) & Margin
Net Income (shareholders) & Margin Alandalus Property Q2 2023 Net Margin (%) Net Income (SAR Million) 150 100% 81% - 10.8% 100 (SAR Millions) Net Margin Net Income 52% (%) 44.2% 50% 1 41% 43.1% 6Y Avg: 45.3% 118.4 33.2% 50 66.8 2 64.8 68.0 48.0 11.8% 3 35.3 m -26.5 % 48.0 Q2 25.9 m 0 0% 2017 2018 20
Slide 26: Return on Equity (ROE)
Return on Equity (ROE) Alandalus Property Q2 2023 10.9 6.42 6.23 5.8 5.3 6Y Avg: 5.8% 4.1 1.3 0% 2017 2018 2019 2020 2021 2022 2023 26
Slide 27: Return on Assets (ROA)
Return on Assets (ROA) Alandalus Property Q2 2023 8.3% 5.2% 4.3% 4.4% 4.6% 3.5% 6Y Avg: 4.6% 0.9% 0% 2017 2018 2019 2020 2021 2022 2023 27
Slide 28: Funds From Operations (FFO)
Funds From Operations (FFO) Alandalus Property Q2 2023 FFO % of Revenue FFO (SAR Million) -2.5 % 100% 88% 150 77.4% 6Y Avg: 65.5 % 85% 61% 70% 63.1% 52.8% 100 181.6 50% 36% 129.7 117.7 114.1 50 100.7 63.6 68.4 0 0% 2017 2018 2019 2020 2021 2022 Q2 2023 28
Slide 29: Liquidity
Liquidity Alandalus Property Q2 2023 Net Working Capital 22% 279,398 259,372 185,864 192,460 212,254 166,976 160,532 2017 2018 2019 2020 2021 2022 Q2 2023 Current Ratio 2.7 3.00 3.07 3.22 2.50 2.72 2.56 2.64 2017 2018 2019 2020 2021 2022 Q2 2023 29
Slide 30: Leverage
Leverage Alandalus Property Q2 2023 Debt-Equity Ratio 0.64 0.64 0.71 0.60 0.37 0.18 0.07 2017 2018 2019 2020 2021 2022 Q2 2023 * Debt-Assets Ratio 0.38 0.39 0.39 0.41 0.27 0.17 0.07 2017 2018 2019 2020 2021 2022 Q2 2023 * Note: * Debt-Equity ratio and Debt-Asset ratio would be 61% and 36%, respectiv
Slide 31: Consolidated Balance Sheet as at June 2023
Consolidated Balance Sheet as at 30 June 2023 Alandalus Property Q2 2023 Total Assets (SAR million) Total Liabilities & Equity (SAR million) 2,060 2,131 2,060 2,131 127 117 526 516 683 767 1,222 1,239 1,075 1,085 312 376 174 162 2022 2023 2022 2023 Investments Fixed Assets Current Assets Current Lia
Slide 32: Contact and further information
For more details on Alandalus Property, please visit http://www.alandalus.com.sa For further information, contact: Abdulrahman Al Shaye , Aziz Faeaj Phone: +966 11 4700735 Ext. 888 Email: IR@alandalus.com.sa