Alandalus Property Co. · TADAWUL:4320
Alandalus Property — Investor Presentation (2023)
33 slides from Alandalus Property's investor presentation, 2023
Slide 1: Investor Presentation FY 2022
Alandalus Property FY 2022 Investor Presentation FY 2022 1
Slide 2: Disclaimer
Disclaimer Alandalus Property FY 2022 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 FY 2022 Overview 4 Operational Performance 13 Financial Performance 21 3
Slide 4: Overview
Overview Alandalus Property FY 2022 4
Slide 5: Alandalus Property is a pioneering Tadawul-listed real estate company
Change picture Alandalus Property FY 2022 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: 2022 Achievements
2022Achievements Alandalus Property FY 2022 ▪ Opening of the Al-Andalus Mall South parking building. ▪ Start of renovation and development works for Hayat Mall. 7
Slide 8: Year End 2022 Performance at a Glance
Year End 2022 Performance at a Glance Alandalus Property FY 2022 19 m 216m 66% Total Mall Footfall Revenue (SAR) Gross Profit Margin 96% 59% 75% Avg Occupancy Rate of Operating Profit Margin EBITDA Margin Regional Malls Portfolio 8
Slide 9: Commercial Sectors
Commercial Sectors Alandalus Property FY 2022 RETAIL HOSPITALITY OFFICES HEALTHCARE Super Regional Regional Strip Malls Malls Malls Al Andalus Salama West Jeddah Mall Hotel Tower Hospital QBIC Building 9
Slide 10: Strategic Objectives
Strategic Objectives Alandalus Property FY 2022 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 11: Our Six Pillar Strategy to Enhance Value & Generate Growth
Alandalus Property Our Six Pillar Strategy to Enhance Value & Generate Growth FY 2022 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 12: Commercial Principles
Commercial Principles Alandalus Property FY 2022 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 13: Operational Performance
Operational Alandalus Property FY 2022 Performance 13
Slide 14: Retail
Retail Alandalus Property FY 2022 TYPE # OF MALLS GLA TOTAL FOOTFALL Super Regional 2 184k 15.8 million Malls Regional Malls 1 47k 3.2 million Strip Malls 4 27k N/A 14
Slide 15: Hospitality
Hospitality Alandalus Property FY 2022 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: 52% RevPAR: SAR 183 15
Slide 16: Offices: Salama Tower
Offices Alandalus Property FY 2022 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 16
Slide 17: Offices: Qbic Plaza
Offices Alandalus Property FY 2022 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 17
Slide 18: Ongoing Investments
Ongoing Investments Alandalus Property FY 2022 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: ▪ Q1 2023 West Jeddah Hospital Location: ▪ Jeddah Type ▪ Heal
Slide 19: Ongoing Investments
Ongoing Investments Alandalus Property FY 2022 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 20: Ongoing Investments
Ongoing Investments Alandalus Property FY 2022 Alandalus Mall Parking Lots 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 expec
Slide 21: Financial Performance
Financial Alandalus Property FY 2022 Performance 21
Slide 22: Revenue
Revenue Alandalus Property FY 2022 220 216 m 100% +8 % 216 72.1% Retail +0.8 % (SAR Millions) Revenue 214 176 168 165 147 6.7% Hospitality 21.2% Offices 0 2017 2018 2019 2020 2021 2022 2022 22
Slide 23: Gross Income & Margin
Gross Income & Margin Alandalus Property FY 2022 Gross Margin (%) Gross Income (SAR Million) -1.8% 150 100% + 11 % 68% 66% 100 58% 57% 57% Gross Margin (SAR Millions) 58% Gross Income 6Y Avg: 60.5% (%) 145.0 142.4 50 102.4 95.7 93.7 84.4 0 0% 2017 2018 2019 2020 2021 2022 23
Slide 24: Operating Income & Margin
Operating Income & Margin Alandalus Property FY 2022 Operating Margin (%) Operating Income (SAR Million) 150 100% 1.8% 3.2% 74% 100 Operating Income 59% 58% 59% Operating Margin (SAR Millions) 6Y Avg: 55.9% 56% 50% (%) 125.1 127.3 108.8 104.2 29% 50 92.6 48.3 0 0% 2017 2018 2019 2020 2021 2022 24
Slide 25: EBITDA & Margin
EBITDA & Margin Alandalus Property FY 2022 EBITDA Margin (%) EBITDA (SAR Million) 2% 150 150% 5.8 % 100 100% 74.7% EBITDA Margin EBITDA Income (SAR Millions) 83% 74% 70.0%* 72% 158.2 161.3 6Y Avg (%) 67% 122.0 127.3 110.9 48% 50 50% 81.2 0 0% 2017 2018 2019 2020 2021 2022 25
Slide 26: Net Income (shareholders) & Margin
Net Income (shareholders) & Margin Alandalus Property FY 2022 Net Margin (%) Net Income (SAR Million) 150 100% 81% - 10.8% 100 (SAR Millions) Net Margin 52% Net Income -1.7% (%) 50% 1 41% 6Y Avg: 45.3% 118.4 44.2% 43.1% 50 2 64.8 68.0 66.8 48.0 11.8% 3 48.0 0 0% 2017 2018 2019 2020 2021 2022 1 – Inc
Slide 27: Return on Equity (ROE)
Return on Equity (ROE) Alandalus Property FY 2022 10.9 6.42 6.23 5.8 6Y Avg: 5.8% 4.1 1.3 0% 2017 2018 2019 2020 2021 2022 27
Slide 28: Return on Assets (ROA)
Return on Assets (ROA) Alandalus Property FY 2022 8.3% 4.4% 5.2% 4.6% 6Y Avg: 4.6% 4.3% 0.9% 0% 2017 2018 2019 2020 2021 2022 28
Slide 29: Funds From Operations (FFO)
Funds From Operations (FFO) Alandalus Property FY 2022 FFO % of Revenue FFO (SAR Million) -2.5 % -37% 100% 88% 150 77.4% 6Y Avg: 65.5 % 85% 61% 70% 52.8% 100 181.6 50% 36% 129.7 117.7 114.1 50 100.7 63.6 0 0% 2017 2018 2019 2020 2021 2022 29
Slide 30: Liquidity
Liquidity Alandalus Property FY 2022 Net Working Capital +10.3% 279,398 185,864 192,460 212,254 166,976 160,532 2017 2018 2019 2020 2021 2022 Current Ratio 2.7 3.00 3.07 2.50 2.72 2.56 2.64 2017 2018 2019 2020 2021 2022 30
Slide 31: Leverage
Leverage Alandalus Property FY 2022 Debt-Equity Ratio 0.60 0.64 0.64 0.37 0.18 0.07 2017 2018 2019 2020 2021 2022 * Debt-Assets Ratio 0.38 0.39 0.39 0.27 0.17 0.07 2017 2018 2019 2020 2021 2022 * Note: * Debt-Equity ratio and Debt-Asset ratio would be 55% and 33%, respectively, if the impact of IFRS
Slide 32: Consolidated Balance Sheet as at Dec 2022
Consolidated Balance Sheet as at 31 Dec 2022 Alandalus Property FY 2022 Total Assets (SAR million) Total Liabilities & Equity (SAR million) 2,040 2,050 2,040 2,050 117 103 521 515 682 702 1,210 1,225 1,063 1,083 310 315 178 168 2021 2022 2021 2022 Investments Fixed Assets Current Assets Current Liab
Slide 33: For more details on Alandalus Property
For more details on Alandalus Property, please visit http://www.alandalus.com.sa For further information, contact: Abdulrahman Al Shaye , Aziz Faraj Phone: +966 11 4700735 Ext. 888-800 Email: IR@alandalus.com.sa