Slide 1: Investor Update
Confidential Investor Update Depa Limited Dubai, UAE
Slide 2: Disclaimer
Disclaimer This material contains certain statements that are “forward-looking” forward looking including management’s expectations and analysis. These statements are based on management’s current expectations and are naturally subject to uncertainty and g in circumstances. Actual results mayy varyy
Slide 3: Contents
Contents ▶ Depa Introduction ▶ 2011 Overview O i ▶ Backlog ▶ Financials ▶ Outlook 3
Slide 4: Depa Introduction
Depa Introduction bets | Same
Slide 5: Complete And Diversified Interior Applications
Complete And Diversified Interior Applications Depa is focused on building top-quality interiors for a wide range of market segments Luxury hotels Apartment bldgs Airports/Metros Offices Malls & Shops Yachts Theming/Museums Depa Depa Lindner Depa Deco Deco Vedder & Pino Meroni Depa Depa Completed pr
Slide 6: Deco: A Leader In Retail Fit-out
Deco: A Leader In Retail Fit-out Over 373 stores from high end to high street in the last six years Marks & Spencer Potterybarn Valentino Louis Vuitton 6
Slide 7: Lindner Depa: Capturing Infrastructure Growth
Lindner Depa: Capturing Infrastructure Growth 51% JV with European specialist Lindner on fit-out of infrastructure projects Dubai International Airport Dubai Metro, Lindner Depa 7
Slide 8: Depa: Capturing Health Care Growth
Depa: Capturing Health Care Growth Involved in a growing market Qatar Robotic Surgery Center Cleveland Clinic, Abu Dhabi Dubai Mall Medical Center 8
Slide 9: Vedder And Pino Meroni: Leader In Luxury Yacht Fit-Out
Vedder And Pino Meroni: Leader In Luxury Yacht Fit-Out Over 55 yachts fit out over the last six years – a testament to our workmanship Project Eclipse – World’s most expensive yacht 9
Slide 10: 2011 Overview
2011 Overview 10
Slide 11: 2011 Overview
2011 Overview Positive net profit after difficult 2010; record backlog Revenues • 2011 was a stabilization year for the Company’s revenues • AED 1,736 million of revenues as compare with AED 1,814 million in 2010 • 2011 revenues were impacted by delay in project starts following Arab Spring Net Prof
Slide 12: 2011 Overview
2011 Overview Maintain net cash position of AED 70 million Cash Generation (AED Million) Cash 174 Generation 100 • Cash flow from operations was positive, with AED 38 million in positive cash 47 38 generated in 2011 • Positive net cash position of AED 70 million ‐43 FY07 FY08 FY09 FY10 FY11 Growth M
Slide 13: Q1 2012 Overview
Q1 2012 Overview Revenue growth compared to same period last year, and strong cash generation Revenues (AED Million) Revenues Q1 2010 357.9 • Revenue growth of 15% over Q1 2011 Q1 2011 327.2 • Key projects have started and revenues being generated from these areas • Cyclicality in revenues is consis
Slide 14: Backlog
Backlog g 14
Slide 15: Backlog
Backlog Backlog diversification has increased, with significant growth in GCC market • All projects are in the advanced stage of construction . • Depa continues to have healthy contracted backlog which stood at almost AED 3.9 3 9 billion. billion • Backlog consists of 285 projects where we are alrea
Slide 16: Backlog: Geographical Distribution
Backlog: Geographical Distribution Increased international backlog exposure and reduced regional exposure Estimated Backlog <AED 100 M AED 100 - 150 M Bahrain Qatar >AED 150 M DDS: Thailand Malaysia Parker: China Korea Zurich London Miami Singapore EUROPE & AFRICA GCC & LEVANT ASIA Intercontinental
Slide 17: Backlog Geographical Distribution
Backlog Geographical Distribution Significant reduction in UAE 0.2% 0.5% 0.1% 2.0% 2.0% 5.0% 7.0% 10.0% 9.0% 1.4% 0.2% 0.5% 25.0% Europe 8.0% 0.0% 3.0% 8.5% 35.0% 32.0% 26.0% Asia 1.6% 32.0% 0.1% Africa 10.0% 15.0% Rest of GCC 0.9% 12.0% 8.0% 11.0% Qatar 1.0% 6.0% 0.5% Saudi Arabia 20.0% UAE E Ex-Du
Slide 18: Backlog: Geographical Distribution
Backlog: Geographical Distribution GCC backlog growing GCC Backlog Qatar Asia Backlog 1400 1227 1233 1200 1000 Q1 2012 FY 2011 800 Total Value: AED 1,021 Total Value: AED 1,025 600 336 400 243 153 190 163 198 163 200 128 99 109 87 90 113 179 37 47 0 2006 2007 2008 2009 2010 2011 Q1 2012 17 18 95 121
Slide 19: Backlog: Sector Distribution
Backlog: Sector Distribution Hospitality remains a key market sector, but infrastructure takes a lead Sector Backlog Q1 2012 FY 2011 Residential Residential 13% 11% Infrastracture 44% Infrastructure 45% Hospitality Hospitality 32% 33% Shops & Offices Yacht Shops & Offices Yacht 3% 8% 3% 8% 19
Slide 20: Financials
Financials 20
Slide 21: Financials: Overview
Financials: Overview Balance Sheet remains strong despite difficult year Actual Actual Actual AED Million Ratio Analysis Q1 2012 Q1 2011 Q1 2010 Quick Ratio Current Ratio Debt to Equity Ratio Revenue 378 327 358 Q1 2012 1.50 Q1 2012 1.58 Q1 2012 0.15 Q1 2011 1.72 Q1 2011 1.79 Q1 2011 0.21 Contract P
Slide 22: Financial: Selected Balance Sheet Figures
Financial: Selected Balance Sheet Figures Actual Actual Actual AED Million Q1 2012 Q1 2011 Q1 2010 Cash in Hand 390 432 535 Unbilled Revenue 577 310 879 Total Current Assets 1,867 1,719 2,344 Total Assets 3,046 2,910 3,427 Total Bank Debt 253 332 262 Total Current Liabilities 1,180 961 1,347 T t l L
Slide 23: Financial: Selected Cash Flow Figures
Financial: Selected Cash Flow Figures Actual Actual Actual AED Million Q1 2012 Q1 2011 Q1 2010 Net Cash (used in) / generated from Operating Activities 75 (23) 17 N t Cash Net C h ((used d iin)) / generated t d ffrom IInvesting ti A Activities ti iti 26 3 (25) Net Cash (used in) / generated from Fin
Slide 24: Financial: Geographic Segmentation Trend (Q1 2011 – Q1 2012)
Financial: Geographic Segmentation Trend (Q1 2011 – Q12012) AED Million Revenue Q1 2012 V i Variance Regional Office Q1 2012 Q1 2011 91 Amount Percentage 24% 131 35% Dubai 131 102 29 28% Abu Dhabi 79 46 33 72% 77 Asia 77 137 (60) (44%) 20% 79 Europe 91 42 49 117% 21% Total 378 327 51 16% Q1 2011 Reg
Slide 25: Financials: Activity Segmentation Trend (Q1 2011 – Q1 2012)
Financials: Activity Segmentation Trend (Q1 2011 – Q1 2012) Revenue AED Million Variance Activity Segment Q1 2012 Q1 2011 Amount Percentage Contracting 259 185 74 40% Manufacturing 113 137 (24) (18%) Procurement 6 5 1 20% Total 378 327 51 16% Q1 2012 Q1 2011 6 5 2% 1% 113 30% 137 42% 185 259 57% 68%
Slide 26: Outlook
Outlook 26
Slide 27: Outlook
Outlook • Strong growth prospects from GCC markets • Infrastructure and medical center projects beginning to come into backlog • Asian markets also providing growth opportunities 27