Mabanee Company (sakc) · KSE:MABANEE
Mabanee Company (sakc) — Mabanee Company — Q3 2024 Earnings Presentation
29 slides from Mabanee Company (sakc)'s earnings presentation, Nov 11, 2024
Slide 1: Letter to Boursa Kuwait on Q3 2024 Analysts Conference
u=_Li_o abanee To: Boursa Kuwait Company Al Osaimi ion for the Analysts/Investors Conference for the Third Quarter of 2024 In accordance with the obligations outlined in article No.(7-8) of Boursa Kuwait Rulebook, regarding the requirements for listed companies regulations, and to reaffirm the compa
Slide 2: Q3-2024 Results Presentation
Q3 - 2024 Results Presentation Period Ended September 30, 2024 .=jLLo qgabanee
Slide 3: Disclaimer
DISCLAIMER =a The information set out in this presentation and provided in the discussion subsequent thereto does not constitute an offer, an agreement. or a solicitation of an offer to buy or sell securities. It is solely for use at an investor presentation and is provided as information only. This
Slide 4: Content
CONTENT afer .sULLo anee RMANCE HIGHLIGHTS © THE AVENUES * SABAH AL AHMAD (S3) * HILTONGARDENINN © AVENTURA - (J3) * WALDORF ASTORIA = * _ BLAJ-13 (Hilton Kuwait Resort) * THE AVENUES - BAHRAIN BAH RAI N * HILTON GARDEN INN THE AVENUES - BAHRAIN II © THE AVENUES - RIYADH © THE AVENUES - KHOBAR FINAN
Slide 5: Performance Highlights Q3-2024
PERFORMANCE HIGHLIGHTS Q3 - 2024 Strong Group KD 98.49mn KD 78.28mn performance KD 49.23mn +6.26% +4.14% +3.40% e Revenue e Adj. EBITDA ¢ Net Profit e Mabanee continues to follow its corporate strategy and ensuring continued strong growth. e Mabanee recently celebrated its 60th year anniversary sinc
Slide 6: Kuwait
KUWAIT sito wavanes AVENTURA (J3) $555525233——e THE AVENUES - HILTON GARDEN INN - WALDORF ASTORIA ‘+ BLAJ-13 (HILTON KUWAIT RESORT) SABAH AL AHMAD (S3)
Slide 7: The Avenues - Kuwait
e Stable occupancy levels with a secured occupancy of 97% as of Q3 2024. e Ease of access with opening of new Sth ring road bridge, facilitating better entry and exit to and from The Avenues. silo abanee ei oid THE AVENUES lade BUILT-UP AREA en pistRICTS mn STORES Litaiety aaeee CINEMAS I PARKING @
Slide 8: Hilton Garden Inn - Kuwait
HILTON GARDEN INN - KUWAIT IM e Main occupancy driver for the Hilton Garden Inn continues to be through corporate business and trainings, with a new segment of social events, including weddings. ¢ Hotel is performing at an average occupancy of 46%. e The RevPar for 2024 is at KD 34. e Hilton Garden
Slide 9: Waldorf Astoria - Kuwait
WALDORF ASTORIA - KUWAIT Ww WALDORF ASTORIA’ KUWAIT SpA ygiel Sip lly faleat! 47,800 BUILT-UP AREA Sant a 200 NO. KEY OPERATOR © The 5-star hotel is performing at an average occupancy level of 43% during Q3 2024. © Waldorf Astoria’s ballroom continues to experience good demand for weddings and corpo
Slide 10: Aventura (J3) - Kuwait
AVENTURA (J3) - KUWAIT ou 4 ———— e The residential component, ‘Aventura Residences’ is at current progress of 66%, and is expected to be completed in Q2 2025. ¢ The mall component, ‘Aventura Mall’ expected to open Q2 2026 and is at 51% construction completion. ¢ Strong leasing demand for tenant unit
Slide 11: Sabah Al Ahmad (S3) - Kuwait
Sa SABAH AL AHMAD (S3) - KUWAIT ne e Located in Sabah Al-Ahmad City, the project includes a traditional souk and three-star hotel component. e Permits have been obtained by Kuwait Municipality, and both mobilization and enabling works have started on site. e The closing certificate with PAHW, which
Slide 12: BLAJ-13 (Hilton Kuwait Resort)
BLAJ-13 (Hilton Kuwait Resort) e Investment period is 17 years after the renovation period. e Site handover from Tourism Enterprises Company is expected within Q4 2024, which will initiate the 16-month renovation period. e Mabanee and Hilton Group are currently working closely during design developm
Slide 13: Bahrain
BAHRAIN slo wavanes osss333—_ THE AVENUES - BAHRAIN © HILTON GARDEN INN - BAHRAIN 12
Slide 14: The Avenues - Bahrain
THE AVENUES - BAHRAIN y © Occupancy rate of 97% for the third quarter of 2024. e Increase in footfall in Q3 2024. ¢ Continues to be a popular destination for visitors and locals alike. r silo wlavanee Cheer be igual THE AVENUES BAHRAIN Qua f TT 35% ° iT MABANEE anactn wr BAHRAIN fia 136,000 pistrict
Slide 15: The Avenues - Bahrain II
THE AVENUES - BAHRAIN II a Sa & H h ° Construction has reached 95% completion. with the official opening set for Q1 2025. e Currently undergoing tenant fit outs as well as marketing plans for the official launch in Q1 2025. e Extension will provide new entertainment components including an ice-skati
Slide 16: Hilton Garden Inn - Bahrain
HILTON GARDEN INN - BAHRAIN OWNERSHIP falmall 23,500 BUILT-UP AREA we. 192 NO. KEY e Hotel is performing at an average occupancy of 64%. e RevPar for Q3 2024 is BHD 49. . Qi HILTON croup OPERATOR ¢ Continues to be a popular choice for business travelers and visitors alike. e Enhancements to the Hilt
Slide 17: KSA
KSA so wavanes ssee0_—__________. THE AVENUES - KHOBAR THE AVENUES - RIYADH 16
Slide 18: The Avenues - Riyadh
¢ Expected completion of the mall is Q3 2026, construction is progressing according to schedule. © Overall progress is at 51% for the mall component. e Signed with DreamWorks for the regions first DreamPlay family entertainment center. e Currently in the tendering process for the tower's main contra
Slide 19: The Avenues - Khobar
THE AVENUES - KHOBAR e Expected completion of the project is Q2-Q3 2027. ¢ Construction progress is according to plan, currently at 9% for the mall and mixed-use tower. rn .s_iLio abanee [stertled quia THE AVENUES HOBAR et if SHOMOUL ve’ HOLDING 696,000 sqm BUILT-UP AREA, 1 700 ‘STORES B 6,400 PARKI
Slide 20: Estimated Projects Timeline (Under Development)
ESTIMATED PROJECTS TIMELINE (UNDER DEVELOPMENT) THE KINGDOM OF SAUDI ARABIA THE KINGDOM OF SAUDI ARABIA KINGDOM OF BAHRAIN KUWAIT KUWAIT KUWAIT slo Wavanee 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 \ a. AVENUES RIYADH e - = AVENUES KHOBAR am AVENUES BAHRAIN-WEST EXPANSION c a ‘SOUK SABAH r 7
Slide 21: Financial Performance Highlights Q3-2024
Financial Performance Highlights Q3 - 2024 iets: iggabanee
Slide 22: Profitability Indicators
Profitability Indicators ei .s_iL_o abanee Net Profit KD Mn Net Profit Margin % 3.40% 035% 2.69% 47.81 51.47 51.16 51.37 49:99 4.44% 3m23 328 om23 oma aM23 3M-24 9M-23 om24 Adj. EBITDA KD Mn 4.14% 75.17 78.28 2.28% maa M28 maa oma The net profit for the nine months ending September 2024 has increase
Slide 23: Profitability Indicators (Continued)
Profitability Indicators (Continued) (— § Return on Average Assets % | Return on Average Equity % 2.73% 4.05% 3M23 3M26 | a : M23 om24 28 M24 oM-23 slo abanee The returns are in line with the growing asset and equity base.
Slide 24: Performance Ratios - The Group
Performance Ratios - The Group Revenue KD Mn Operating Expense KD Mn 11.24% Sad t 27.19 ’ an 98.49 5.05% rl ig 3M-23 3M-24 (9M-23 9M-24 ‘3M-23 3M-24 9M-23 9M-24 Operating Margin % -0.69% 323 M24 om23 oma The Group has added KD 5.8mn and KD 1.6mn for the nine and three months respectively to the top
Slide 25: Appendix
Appendix .sLio m abanee
Slide 26: Consolidated Statement of Income
Consolidated Statement of Income KD'000 43M Q3-23 3M YoY % Q3-249M Q3-239M YoY % Investment properties revenue 28,648 27,247 5.14 86,258 81,467 5.88 Revenue from hospitality 3,745 3,587 4.40 12,233 11,217 Total Oper: Revenue 5.06 Investment properties expenses (6,125) (5,934) (3.22) (18,394) (16,470
Slide 27: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position ei ASSETS (KD'000) Q3-24 Q3-23 YoY % Non-current assets Property and equipment 141,875 146,808 (3.36) Investment properties 1,043,935 860,346 21.34 Investments in associates 54,431 48,289 12.72 Advance payments and prepayments 64,074 57,779 10.89 Right of
Slide 28: Q&As
Q&As 27
Slide 29: Thank You
Thank You MABANEE COMPANY K.P.S.C Q PO. Box 5132 Safat | 13052 Kuwait Q& +965 222444 29 [A investorsrelations@mabanee.com 17 TradingView EUTERS yahoo! Bloomberg ‘inance 0 www.mabanee.com (in) Mabanee Company @mabaneeco MABANEE MABK.KW MABANEE.KW MABANEE KK