Al Dar Properties · ADX:ALDAR
Al Dar Properties — Q1 2021 Earnings Presentation
22 slides from Al Dar Properties's earnings presentation, May 10, 2021
Slide 1: Q1 2021 Results Presentation
Q1 2021 Results Presentation Quarter Ended 31 March 2021 May 10, 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: Q1 2021 Results Summary
Q1 2021 RESULTS SUMMARY
Slide 4: Q1 2021 Financial Results in Summary
Q1 2021 FINANCIAL RESULTS IN SUMMARY Strong financial performance Solid quarter for Development Resilient Investment performance ▪ Revenue up 16% to AED 2.04bn ▪ Revenue up 47% to AED 1.19bn ▪ Investment NOI1 of AED 0.40bn (Q1 20: AED 1.76bn) (Q1 20: AED 0.81bn) (Q1 20: 0.40bn) ▪ GP up 11% to AED 0.
Slide 5: Development Highlights – Q1 21
DEVELOPMENT HIGHLIGHTS – Q1 21 ▪ Solid quarter for Development, driven by strong inventory sales and higher contribution from fee segment ▪1 Sales AED bn Q1 21 Q1 20 Variance ▪ Strong inventory sales (sold pipeline at 94%) 1 Sales 1.09 0.33 +227% ▪ Total sales of 518 units and plots in Q1 21 (vs. 10
Slide 6: Investment Highlights – Q1 2021
INVESTMENT HIGHLIGHTS – Q1 2021 ▪ Stable NOI performance by Investment Properties segment; strong performances by Aldar Education and Provis/Khidmah offset weakness from Hospitality and sale of District Cooling Assets AED bn Q1 21 Q1 20 Variance Recurring revenue2 0.76 0.80 (5%) ▪1 Investment Proper
Slide 7: Investment – NOI Bridge
1,2 INVESTMENT – NOI BRIDGE -4 +5 -22 7 404 3 403 Education -4 -4 -5 32 39 Education Principal Investments 20 15 Principal Investments Hospitality 18 14 Key drivers Hospitality Margin expansion to Provis acquisition of LfL rates down c.3% LfL rates down c.7% LfL rates up c.1% LfL rates down c.25% 10
Slide 8: Investment Properties Overview
INVESTMENT PROPERTIES OVERVIEW Retail Residential Commercial No. of properties 34 13 15 Leasable area (sqm) 0.5m 0.9m 0.3m Portfolio occ. 83% 88% 91% WAULT (years) 3.0 3.4 3.8 Q1 2021 Revenue (AEDm) 153 141 124 Q1 2021 NOI (AEDm) 110 119 105 NOI margin 72% 84% 85% Quarter trend up down flat vs. Q4 2
Slide 9: Key Other Businesses
KEY OTHER BUSINESSES ▪ 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 / Provis) Business o
Slide 10: Balance Sheet
BALANCE SHEET Robust balance sheet position… ...supported by prudent capital management and governance As at 31 Mar As at 31 Dec AED "000" 2021 2020 Investment Development ASSETS Outstanding Debt ▪ Sukuk: 3.7bn2 Property, plant and equipment 2,929,402 2,961,523 ▪ Bank: 0.6bn Breakdown (AED bn) ▪ Ban
Slide 11: Q1 2021 Financial Results – Key Messages
Q1 2021 FINANCIAL RESULTS – KEY MESSAGES ▪ Constructive Abu Dhabi real estate market with Balanced Abu balanced supply/demand dynamics ▪ Diversification and quality of Aldar Investment Dhabi real estate Diversified portfolio coupled with market dominance of ▪ Aldar’s understanding of local market dy
Slide 12: Appendix
Replace with photo APPENDIX Al Muneera, Al Raha Beach
Slide 13: Aldar – Group Segmentation Overview
ALDAR – GROUP SEGMENTATION OVERVIEW ▪ New group operating model in place and updated segment disclosure from Q1 2021 Aldar Investment Aldar Development ▪ Leading real estate investment platform comprised Investments of a diversified portfolio of retail, commercial and ▪ Comprises Aldar’s core develo
Slide 14: Key Events / Announcements
KEY EVENTS / ANNOUNCEMENTS Jan 2021 ▪ 6-Jan: Acquisition of Asteco Property Management by Provis, making it one of the leading property management companies in the UAE with a portfolio of c. 60k residential units, 600k sqm GLA in retail assets and 650k sqm of commercial assets ▪ 20-Jan: Approved fra
Slide 15: Segmental Breakdown – Q1 2021 vs. Q1 2020 & Q4 2020
SEGMENTAL BREAKDOWN – Q1 2021 vs. Q1 2020 & Q4 2020 Q1 2021 revenue of AED 1.9bn (Q1 2020: AED 1.6bn, Q4 2020: 2.4bn)1 1,071 802 683 528 419 418 422 384 93 141 160 127 128 131 125 115 131 125 Investment Properties Hospitality & Leisure Education Principal Investments1 Property Development & Sales Pr
Slide 16: Development Pipeline Summary
DEVELOPMENT PIPELINE SUMMARY Total as at 31 Mar 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 ▪ Q1 2021 development sales of AED Hadeel Al Raha Beach 2014 228
Slide 17: 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 ▪ Total undeveloped land of c. 65m sqm, of which c.14m sqm land with 12.4m sqm of approved GFA and c.51m sqm land with GFA yet to be confirmed/approved La
Slide 18: 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 5th May 2021, ▪ ADNOC will continue to deliver on its 2030 strategy, including its value maximization the UAE administered more than 10
Slide 19: 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 20: 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 ▪ Development of the first comprehensive Group-level sustainability strategy ▪ Invested in the ATMAH programme, the GCC’s first social impact bond for people of determination, an
Slide 21: 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 22: ALDAR.COM
ALDAR.COM