Emirates Reit (ceic) Plc · NASDAQDUBAI:REIT
Emirates Reit (ceic) — H1 2019 Earnings Presentation
18 slides from Emirates Reit (ceic)'s earnings presentation, 2019
Slide 1: H1 2019 Call Presentation
2019 H 1 C A L L P R E S E N TAT I O N H1 2019
Slide 2: Speakers
SPEAKERS Sylvain Vieujot Alain Debare Abdul wahab Al-Halab CEO Group Head of Real Estate Portfolios CFO Managed by Equitativa !2
Slide 3: Financial Highlights H1 2019
FINANCIAL HIGHLIGHTS H1 2019 • Rental Income: 6.1% year-on-year increase • Net cash generated from operating activities to USD 31.0m (AED 113.7m) increased by USD 7.2m to USD 18.6m • Total Property Income: 7.1% year-on-year increase • Net valuation losses of USD 5.0m to USD 36.2m (AED 133.0m) • Net
Slide 4: Portfolio Highlights
PORTFOLIO HIGHLIGHTS !4
Slide 5: Operational Highlights H1 2019
OPERATIONAL HIGHLIGHTS H1 2019 • Hands on review of property operations • Focus on cost effectiveness and revenue opportunities • Increase of rental income by 6.1% from USD 29m to USD 31m • Increase of operating margins from 76% to 82% • Strong conversion to Net Property Income 105% • Weighed Averag
Slide 6: Index Tower
INDEX TOWER • Occupancy increased to 51% • Occupancy increase of 20% year-on-year with 33% increase in passing income • Index Mall is now open with 14 outlets leased Managed by Equitativa !6
Slide 7: Index Tower Performance
INDEX TOWER PERFORMANCE OCCUPANCY BY AREA OCCUPANCY BY UNIT ANNUALISED RENT As of 30 Jun 2019 As of 30 Jun 2019 As of 30 Jun 2019 Notable new tenants in 2019 include: Managed by Equitativa !7
Slide 8: Portfolio Highlights
PORTFOLIO HIGHLIGHTS ANNUALISED RENT UNEXPIRED LEASE TERM As of 30 Jun 2019 (excl. School in DIP) As of 30 Jun 2019 Managed by Equitativa !8
Slide 9: Operational Savings H1 2019
OPERATIONAL SAVINGS H1 2019 • Granular review of operations and renegotiation of contracts with savings of approximately USD 1mn • Index Tower to be fully and directly managed by Equitativa with projected annual savings of approximately USD 500,000 • Trident Grand Mall, synergies with TGR Community
Slide 10: Annualised Rent per Property
ANNUALISED RENT PER PROPERTY 01 Lycée Français Jean Mermoz 07 GEMS World Academy SUKUK 66 mUSD/y 02 European Business Centre 08 Office Park 01 240 mAED/y 02 03 03 School in DIP 09 The Loft Offices 54 mUSD/y 04 200 mAED/y 05 04 Jebel Ali School 10 Indigo 7 43 mUSD/y 05 Trident Grand Mall 11 Building
Slide 11: Financial Highlights
FINANCIAL HIGHLIGHTS !11
Slide 12: Total Property Income Growth
TOTAL PROPERTY INCOME GROWTH (USD M) +7.1% 33.8 36.2 18.3 17.8 17.9 18.3 17.3 16.5 H1 2018 H1 2019 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Managed by Equitativa !12
Slide 13: EBITDA Growth
EBITDA GROWTH (USD M) +13.5% 20.2 17.8 11.6 9.3 9.3 8.5 8.6 5.4 H1 2018 H1 2019 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Managed by Equitativa !13
Slide 14: Balance Sheet Overview
BALANCE SHEET OVERVIEW USD 1,097.6 USD 1,097.6 IN USD M 30 JUN 19 30 JUN 18 CHANGE 68.2* 55.3**** INVESTMENT PROPERTY 994 913.6 +8.9% 35.4 ** 28.3*** TOTAL ASSETS 1,097.6 951.3 +15.4% 516.8 ISLAMIC FINANCING 516.8 397.5 +30% DEB T 994 IN VESTME NT TOTAL LIABILITIES 600.4 424.9 +41.3% PROPER TY EQUIT
Slide 15: Summary
SUMMARY USD 994m 274,274 m2 PORTFOLIO VALUE NET LEASABLE AREA As of 30 Jun 2019 USD 497m 75% NET ASSET VALUE OCCUPANCY USD 1.66per share 7.9 years NET ASSET VALUE WAULT(1) NAV per share is calculated by the REIT administrator. Growth rates are adjusted for dividends and annualized. For 2011, 2012 an
Slide 16: Going Forward
GOING FORWARD !16
Slide 17: Questions & Answers
QUESTIONS & ANSWERS EQUITATIVA
Slide 18: Thank You
THAN R YQU. EQUITATIVA