Waha Capital Company · ADX:WAHA
Waha Capital — Investor Presentation (October 2018)
40 slides from Waha Capital's investor presentation, October 2018
Slide 1: Investor Presentation
INVESTOR PRESENTATION October 2018 Private Investments Asset Management
Slide 2: Table of Contents
TABLE OF CONTENTS 03 Company Overview 08 Financial Highlights 16 Business Highlights 34 Organisation & Governance 2
Slide 3: Company Overview
COMPANY OVERVIEW
Slide 4: Who is Waha Capital?
WHO IS WAHA CAPITAL? A leading Abu Dhabi-based investment company; established in 1997 and listed on the Abu Dhabi Securities Exchange in 2000 WE ARE Led by a world class management team and a well-connected, high caliber Board of Directors Diversified portfolio between two core activities – P
Slide 5: Our Performance and Shareholder Returns
OUR PERFORMANCE Consistent profitability over two decades TOTAL ASSETS H1 2018 Strong balance sheet, with a four fold increase in AED 11.5bn total assets from 2006 MARKET CAP OUR TRACK RECORD Diversified asset base across multiple sectors AED 3.5bn Strong internal controls and high transpare
Slide 6: Business Model
BUSINESS MODEL Private Investments 6
Slide 7: Business Model
BUSINESS MODEL PRIVATE INVESTMENTS ASSET MANAGEMENT Strategic long term investments Generate cash returns through investments in liquid equity and fixed income securities Focus on generating stable income and regular cash flows over the long term in relatively mature businesses Three existin
Slide 8: Financial Highlights
JUG aalgJi WAHA CAPITAL FINANCIAL HIGHLIGHTS
Slide 9: H1 2018 Financial Highlights
H1 2018 FINANCIAL HIGHLIGHTS Performance reflects growth across all business divisions H1 2018 NET PROFIT Net profit of AED 239.7 million, compared to AED 183.1 million in H1 2017 EPS of AED 0.13 compared to AED 0.10 in H1 2017 AED 240m Assets of AED 11.5 billion as at 30 June 2018 vs. AED 11.
Slide 10: Q2 2018 Financial Performance
Q2 2018 FINANCIAL PERFORMANCE TOTAL INCOME TOTAL EXPENSE NET PROFIT 8% 8% 39% vs. Q2 2017 vs. Q2 2017 vs. Q2 2017 AED MILLIONS Q2 2018 Q2 2017 Total Income 306 285 Expenses - Parent (64) (66) Expenses - Subsidiaries (101) (113) Non controlling interest (9) (10) Net profit attributable to share
Slide 11: H1 2018 Financial Performance
H1 2018 FINANCIAL PERFORMANCE TOTAL INCOME TOTAL EXPENSE NET PROFIT 12% 8% 31% vs. H1 2017 vs. H1 2017 vs. H1 2017 AED MILLIONS H1 2018 H1 2017 Total Income 619 551 Expenses - Parent (117) (124) Expenses - Subsidiaries (204) (224) Non controlling interest (58) (20) Net profit attributable to s
Slide 12: H1 2018 Financial Position
H1 2018 FINANCIAL POSITION TOTAL ASSETS MARKET CAP(1) DEBT CASH AED 11.5bn AED 3.5bn AED 6.7bn AED 595m AED MILLIONS 30 JUN 2018 31 DEC 2017 Cash 595 520 Investments in equity-accounted investees & Assets held for sale 4,660 5,540 Investment Property 766 759 Other Investments(2) 4,869 3,818 Other As
Slide 13: Three Year Robust Financial Performance
THREE YEAR ROBUST FINANCIAL PERFORMANCE 3 year Average Earnings Per Share of AED 0.26 3 year Average Return on Equity of 12.2% 3 year Average Dividend Yield of 9.2% 3 year Average Dividend Per Share of AED 0.19 with average payout ratio of 76% EPS RoAE DIVIDEND YIELD DPS & PAYOUT % In AED In
Slide 14: Three Year Financial Performance
THREE YEAR FINANCIAL PERFORMANCE AVERAGE TOTAL AVERAGE NET PROFIT AVERAGE EPS AVERAGE RETURN INCOME 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 15: Waha Capital - Performance vs. Peers
WAHA CAPITAL - PERFORMANCE VS. PEERS Waha Capital has outperformed its comparable listed peers across most metrics over the last 3 years Average ROE of 12.% Average ROA of 4.7% 12.2% 4.7% 4.6% 11.0% 8.3% 0.4% Waha Capital PJSC Investcorp Bank BSC KIPCO Waha Capital PJSC Investcorp Bank BSC KIPCO Ave
Slide 16: Business Highlights
BUSINESS, HIGHLIGHTS
Slide 17: Private Investments Overview
PRIVATE INVESTMENTS OVERVIEW By leveraging its extensive network and sector Overview expertise, our Private Investments business is Over the past ten years, Waha Capital has built an capable of generating significant income and cash impressive track record in managing proprietary flows on a regula
Slide 18: Private Investments Portfolio
PRIVATE INVESTMENTS PORTFOLIO SECTOR CORE INVESTMENTS STAKE AVIATION AerCap Holdings 15.5% FINANCIAL SERVICES Dunia Finance 25.0% INDUSTRIAL REAL ESTATE Waha Land 100.0% INFASTRUCTURE 33.3% (GP) MENA Infrastructure Fund 17.9% (LP) OIL & GAS National Energy Services Reunited 5.8% OIL & GAS Stanford M
Slide 19: AerCap
PRIVATE INVESTMENTS AERCAP Overview Stable and healthy industry with favourable outlook H1 2018 Diluted EPS of USD Significant cash flow generation capability Focus on selective and disciplined growth and on-going portfolio 3.42, compared to USD 3.15 in management Conservative, long-term and
Slide 20: AerCap Key Financial Highlights
PRIVATE INVESTMENTS AERCAP H1 2018 Key Financial Highlights: H1 USD m 2011 2012 2013 2014 2015 2016 2017 Net income of $519.6 million, compared with $544.1 million for 2018 the same period in 2017. Diluted earnings per share of $3.42, compared with $3.15 for the same period in 2017 Total 1,094 973
Slide 21: AerCap Share Price Performance
PRIVATE INVESTMENTS AERCAP Share price performance and volume since acquisition Analyst/ Consensus Estimates 60 Share Price Volume 45.0 40.0 Target 50 Provider Date Recommendation 35.0 USD 40 30.0 Macquarie Aug-18 outperform 71 25.0 30 20.0 RBC Capital Markets Aug-18 outperform 78 20 15.0 Cowen Aug-
Slide 22: National Energy Services Reunited
PRIVATE INVESTMENTS NATIONAL ENERGY SERVICES REUNITED Overview NPS Holdings Limited Waha acquired a 5.8% stake in a NASDAQ-listed entity - NESR - as part of exit Regional provider of products and services to the oil and gas industry in the consideration of NPS Holdings Limited. Middle East, Nort
Slide 23: Channel VAS
PRIVATE INVESTMENTS CHANNEL VAS LENDING IN 2017 COUNTRIES OF OPERATION SUBSCRIBER BASE > USD 1bn 25 +500m Overview H1 2018 Key Highlights Waha acquired a 19.41% stake in Dubai-based fintech firm CVAS. Revenue of AED 91.9 million, compared to AED 82.6 million in the CVAS is a premium fintech pr
Slide 24: SDX Energy Inc
PRIVATE INVESTMENTS SDX ENERGY INC MARKET CAPITALISATION (1) REVENUE (2) CASH (2) USD 143m USD 39m USD 26m Overview Key Highlights Production of 3,327 boe/d compared to 1,196 boe/d in 2016; and Engaged in the exploration for and development and production of Net realized average oil price of $
Slide 25: Dunia Group
PRIVATE INVESTMENTS DUNIA GROUP Dunia continued to prudently manage its balance Overview sheet by implementing a robust risk management plan in response to the continued macro- An Abu Dhabi-based consumer finance company economic uncertainty established in 2008 with initial paid up capital of AED
Slide 26: Dunia Group Key Financial Highlights
PRIVATE INVESTMENTS DUNIA GROUP Key Financial Highlights H1 AED m 2012 2013 2014 2015 2016 2017 Customer deposits at AED 1.24 billion as at 30 June 2018, compared 2018 to AED 1.28 billion 30 June 2017, comprising a mix of deposits Net pledged for the issue of guarantees, interbank sources, regular
Slide 27: Waha Land
PRIVATE INVESTMENTS WAHA LAND Phase 1: SIUs and Serviced Land Overview Waha Capital received 6 km2 of land grant from the Government of Developed SIUs Abu Dhabi in 2007 for a mixed use industrial development Stage 1: Nine shell and core The project was divided into four equal phases (1.5 km2 e
Slide 28: MENA Infrastructure Fund
PRIVATE INVESTMENTS MENA INFRASTRUCTURE FUND MENA Infrastructure Fund is recognized as one Overview of the best performing infrastructure funds in the Established in 2007, MENA IF is a 10-year fund with capital commitments of USD 300 million based in DIFC region GP sponsors comprise Waha Capital
Slide 29: Anglo Arabian Healthcare
PRIVATE INVESTMENTS ANGLO ARABIAN HEALTHCARE Anglo Arabian Healthcare (AAH) is among the Overview largest healthcare provider networks in the UAE. AAH employs a cross-referral strategy providing UAE healthcare company, with an initial focus on hospitals, clinics, end-to-end services, supplementing
Slide 30: Anglo Arabian Healthcare Key Financial Highlights
PRIVATE INVESTMENTS ANGLO ARABIAN HEALTHCARE Key Financial Highlights Consolidated Financial Highlights (AED m) HealthBay added a dental clinic in H1 2018, complementing its H1 AED m 2013 2014 2015 2016 2017 multispecialty medical complex in Dubai, offering a wide range of 2018* specialized health
Slide 31: Asset Management
ASSET MANAGEMENT OVERVIEW Capitalizing on a strong track record, the Asset Overview Management business offers third party investors Waha’s Asset Management business focuses on developing and the opportunity to invest in our wide range of managing investment funds, and inviting third party investo
Slide 32: H1 2018 Performance Asset Management - Funds
H1 2018 PERFORMANCE ASSET MANAGEMENT – FUNDS CEEMEA FIXED INCOME RETURN MENA EQUITY RETURN MENA VALUE RETURN 4.9% H1 2018 13.8% H1 2018 6.4% H1 2018 134.5% Since inception Jan 2012 130.3% Since inception Jan 2014 34.7% Since inception Jan 2014 CEEMEA FIXED INCOME FUND MENA EQUITY FUND ME
Slide 33: Asset Management - Awards
ASSET MANAGEMENT - AWARDS Best Fixed Income Fund #1 Fund in Emerging Markets Manager UAE 2016 Eastern Europe Best Fixed Income Fund ME 2018 Best Diversified Best MENA Equity Fund Asset Manager > $50m 33
Slide 34: Organisation & Governance
ORGANISATION & GOVERNANCE ne
Slide 35: Board of Directors
BOARD OF DIRECTORS CHAIRED BY H.E. SALEM RASHID AL NOAIMI, WAHA CAPITAL’S BOARD COMPRISES SEVEN PROMINENT UAE FIGURES H.E. Salem Rashid Al Noaimi Ahmed Bin Ali Al Dhaheri Carlos Obeid Chairman Vice Chairman Director Khaled Al Shamlan Mohamed Hussain Al Nowais Rasheed Ali Al Omaira Rashed Darwish Al
Slide 36: 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 Managing
Slide 37: 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 38: 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 stra
Slide 39: Disclaimer
DISCLAIMER This document is not an offer, invitation or recommendation to subscribe to or statements. Important factors that could cause our actual results and financial purchase any securities. Nothing in this document shall form the basis of any condition to differ materially from those indicated
Slide 40: Thank You
THANK YOU Investor presentation http://www.wahacapital.ae 40