Al Dar Properties · ADX:ALDAR
Al Dar Properties — Q2 2019 Earnings Presentation
21 slides from Al Dar Properties's earnings presentation, 2019
Slide 1: Aldar Q2 2019 Results Presentation
Q2 2019 RESULTS Aldar Q2 2019 Results PRESENTATION
Slide 2: Disclaimer
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Slide 3: At a Glance
Revenue Gross profit Net profit Development sales Recurring revenue NOI (AED m) (+10%) (AED m) (+3%) (AED m) (+7%) (AED m) (+129%) (AED m) (+5%) 1,656 1,511 853 476 445 669 396 649 376 372 Q2 2018 Q2 2019 Q2 2018 Q2 2019 Q2 2018 Q2 2019 Q2 2018 Q2 2019 Q2 2018 Q2 2019 AT A GLANCE Development Asset M
Slide 4: Asset Management
Asset class NOI contribution Key announcements during the year AED 376 mn AED 396 mn 19 40 3 MANAGEMENT 111 101 133 123 Full ownership of Etihad Sale of Al Murjan Tower Opening of 33,000 sqm Divestment of Yas OV in 123 129 Plaza and Etihad Airways for AED 289 million with GLA Al Jimi Mall June 2019
Slide 5: Development Management
Development revenue based on progress of completion 100% Jawaher Mamsha Ansam Hadeel Nareel Island The Bridges Al Merief DEVELOPMENT West Yas¹ Mayan Q2 2019 development highlights MANAGEMENT Meera Yas Acres 17 projects within development pipeline at various Revenue recognised stages – 6 handed over/
Slide 6: New development launches driving Q2 and H1 2019 sales
New development launches driving Q2 and H1 2019 development sales Abu Dhabi mainland – Alshamkha Yas Island DEVELOPMENT Al Reeman Al Reeman II Lea LAUNCHES ▪ Public launch in January 2019 ▪ Public launch in June 2019 ▪ Launched at CityScape Abu Dhabi 2019 ▪ Located in Al Shamka investment zone ▪ Loc
Slide 7: Government awards
Development Management segment gross profit AED 5 billion in projects awarded by government in July guidance increased 50% following recent govt 2019 across national housing, awards (AED mn) 150 AED 3 billion contracts awarded in July for Al Falah, 100 twofour54 and first phase of Saadiyat infrastru
Slide 8: Balance Sheet
Robust balance sheet position Prudent capital management and governance in place AED millions As at 30 Jun 19 As at 31 Dec 18 Assets Aldar Properties BALANCE SHEET Property, plant and equipment Investment properties DWIP and inventories 3,515 17,023 7,395 3,601 16,408 6,749 Investments in associates
Slide 9: Key Messages
Strong H1 2019 following three successful development launches KEY MESSAGES 2019 development sales guidance Tighter supply-demand dynamics supporting Abu Dhabi real estate market AED Aldar Investments strategy in action, resilient occupancy 4 billion performance Strong development revenue recognitio
Slide 10: Appendix
APPENDIX Aldar Q2 2019 Results
Slide 11: Government policy reform
POLICY REFORM Abu Dhabi Government stimulus Energy industry expansion Federal announcements GOVERNMENT ▪ Abu Dhabi approved an AED 50bn development plan ▪ ADNOC capex plans - five-year investment plan of ▪ The Tajer Abu Dhabi license is open to all GCC to enhance the competitiveness of Abu Dhabi. $1
Slide 12: Development summary
Total as at 30 Jun 19 Launch Expected Project Location date Sold units ¹ Sales value Units % completion ▪ Q2 development sales of AED DEVELOPMENT (AEDm) ¹ % sold launched completion 0.9 billion mainly driven by Ansam Yas Island 2014 524 911 547 96% 100% Handed over Lea (AED 344 million across Hadeel
Slide 13: Development projects: handed over and handing over
DEVELOPMENT HANDED OVER COMMENCED HANDOVER COMMENCED HANDOVER Ansam Nareel Island West Yas Type: Prime residential apartments Type: Exclusive land plots for villa development Type: Villa development Land: Investment zone Land: Non-investment zone Land: Investment zone Location: Yas Island Location:
Slide 14: Development projects pipeline
DEVELOPMENT COMMENCED HANDOVER EXPECTED COMPLETION: 2019 EXPECTED COMPLETION: 2020 Meera Mamsha The Bridges Type: Residential apartments Type: Beachfront residential apartments Type: Mid-market residential apartments Land: Investment zone Land: Investment zone Land: Investment zone Location: Reem Is
Slide 15: Development projects pipeline continued
DEVELOPMENT EXPECTED COMPLETION: 2020/21 EXPECTED COMPLETION: 2021 EXPECTED COMPLETION: 2021 Water’s Edge Alghadeer Lea Type: Mid-market residential apartments Type: Residential land plots Type: Residential land plots Land: Investment zone Land: Investment zone Land: Investment zone Location: Yas Is
Slide 16: Operating assets
Retail Residential Commercial Hospitality Adjacent OPERATING 478,879 sqm GLA¹ 5,621 units¹ 325,560 sqm GLA¹ 2,930 keys¹ Consolidating assets: Consolidating assets: Consolidating assets: Consolidating assets: Key consolidating assets and businesses: ▪ Yas Mall ▪ Al Rayanna ▪ Aldar HQ ▪ Yas Hotel ▪ Al
Slide 17: Financial statements
Profit and loss Balance sheet YTD YTD AED millions Q2 2019 Q2 2018 AED millions 31-June-19 31-Mar-19 2019 2018 Revenue 1,656 1,511 3,421 2,981 Property, plant and equipment 3,515 3,546 Direct costs (987) (863) (2,029) (1,617) STATEMENTS Gross profit 669 649 1,392 1,364 Investment properties 17,023 1
Slide 18: Segmental analysis Q2 2019
Q2 2019 recurring revenues of AED 806 million (Q2 2018: AED 761 million, Q1 2019: AED 858 million) ¹ Q2 2019 Segmental Revenue Performance 692 652 577 AED Millions 437 448 422 414 393 353 210 135 118 SEGMENTAL 41 16 26 Investment Properties Hospitality & Leisure Adjacent Businesses Development Manag
Slide 19: Segmental analysis H1 2019
H1 2019 recurring revenues of AED 1.7 billion (YTD 2018: AED 1.5 billion) ¹ H1 2019 Segmental Revenue Performance 1,344 1,151 859 885 807 AED Millions 659 SEGMENTAL 345 248 67 39 Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Property Development ANALYSIS YTD
Slide 20: Government receivables
Remaining cash inflows Transaction (AEDm) 2019 2020 Total GOVERNMENT Sale of Al Raha Beach Land ¹ - 95 95 RECEIVABLES Infrastructure recoverables ² 250 - 250 250 95 345 ¹ Al Raha Beach land plot handed over in Q3 2016 with a payment plan structure ² Cash flow timing projection, subject to change AED
Slide 21: Contact Us
CONTACT US For any further enquiries please contact: Chris Wilson Mohamed ALMaazmi Head of Investor Relations Investor Relations + 971 2 810 5624 + 971 2 810 5866 cwilson@aldar.com malmaazmi@aldar.com Aldar Q2 2019 Results 20