Slide 1: Annual Results FY 2009
Annual Results FY 2009 Depa United Group Dubai UAE Dubai,
Slide 2: Disclaimer
DISCLAIMER This material contains certain statements that are “forward-looking” including management’s management s expectations and analysis analysis. These statements are based on management’s current expectations and are naturally subject to uncertainty and changes in circumstances. Actual result
Slide 3: Contents
CONTENTS 2009 Performance Backlog Financials, Risk Management and Investments Nasdaq Dubai and DFM Merger 2010 and Beyond 2
Slide 4: 2009 Summary
2009 SUMMARY Top and bottom line growth reinforce the company’s strength and meet expectations Revenue Revenues Grew in line with market expectations and guidance. +36% 2,689 Full year revenue growth of over 36% vs. FY 2008. 1,420 1,972 Revenues increased to AED 2.69 billion (vs. 2008: AED 1.9
Slide 5: Contents
CONTENTS 2009 Performance Backlog Financials, Risk Management and Investments Nasdaq Dubai and DFM Merger 2010 and Beyond 4
Slide 6: Backlog – Key Project List
BACKLOG – KEY PROJECT LIST Backlog includes iconic projects such as the Ferrari Theme Park and the Metro Green Line All projects are in the advanced stage of construction . Depa continues to have healthy contracted backlog which stood at AED 2.1 billion. Backlog B kl consists i t off 202 proje
Slide 7: Backlog – Geographical Distribution
BACKLOG – GEOGRAPHICAL DISTRIBUTION The total remaining value of contracts where Depa is currently on site Bahrain Q t Qatar E ti t d Backlog Estimated B kl <AED 100 M AED 100 - 150 M >AED 150 M Singapore EUROPE & AFRICA GCC & LEVANT ASIA El Nile Kempinski Mazagan Villas Arcapita Conrad Hotel Ferrar
Slide 8: Backlog – Geographical Diversification
BACKLOG – GEOGRAPHICAL DIVERSIFICATION Significant reduction in UAE and GCC exposure over the last four years BACKLOG BY GEOGRAPHY 0.2% 1.7% 6.3% 6 3% Europe 2.5 11.8% 13.8% 4.8% 1.0% 18.1% 3.4% Asia 9.7% 3.3% 23.1% 2 n) 6 4% 6.4% g (AED billion 13.1% Africa 17.0% 10.6% 1.5 GCC Ex-UAE ue of Backlog
Slide 9: Backlog – Sector Diversification
BACKLOG – SECTOR DIVERSIFICATION The backlog is diversified across many market segments BACKLOG BY SECTOR FY 2008 FY 2009 Other Other Yacht (Joinery Work & small (Joinery Work & small 1.4% projects) projects) Theming 7% 11 0% 11.0% 1.3% Yacht Shops, Malls & 7.5% Offices 5.2% Themingg 6.2% Infrastruc
Slide 10: Counter Cyclical – Refurbishment
COUNTER CYCLICAL – REFURBISHMENT Refurbishment is a counter-cyclical part of the hospitality industry Refurbishment work in the region has picked up over the last Completed Refurbishment Projects by Depa 12 months. Al Bustan Rotana, Dubai – 1997 Refurbishment R f bi h t projects j t are counte
Slide 11: Counter Cyclical – Infrastructure
COUNTER CYCLICAL – INFRASTRUCTURE Depa has completed work on the Dubai Metro Red Line and is currently on site at the Green Line Infrastructure continues to be a key area of focus. Infrastructure / Hospital Projects Government commitments and spending have led to a Dubai uba Metro et o – Dubai u
Slide 12: Contents
CONTENTS 2009 Performance Backlog Financials, Risk Management and Investments Nasdaq Dubai and DFM Merger 2010 and Beyond 11
Slide 13: Risk Management – Contingencies & Provisions
RISK MANAGEMENT – CONTINGENCIES & PROVISIONS Depa has continued to implement high levels of risk management Contingencies Net Profit Contingencies are unexpected project based costs. Based on the overall market situation, and as a precautionary measure, these costs are allocated to Impairments 3
Slide 14: Selected Income Statement Figures
SELECTED INCOME STATEMENT FIGURES AED M’s Actual DUG Actual Actual 2007 2008 2009 Revenue 1,420 1,972 2,689 Revenue Growth 35.5% 38.9% 36.3% Contract Profit 281 389 430 Contract Profit Margin 19.8% 19.7% 16.0% G&A 116 192 192 G&A Margin M i 8 2% 8.2% 9 7% 9.7% 7 1% 7.1% Amortization & Impairment los
Slide 15: Selected Balance Sheet Figures
SELECTED BALANCE SHEET FIGURES AED M’s Actual DUG Actual Actual 2007 2008 2009 Cash in Hand 69 739 543 Unbilled Revenue Balance 437 862 910 Total Current Assets 1 127 1,127 2 350 2,350 2 272 2,272 Total Assets 1,872 3,295 3,372 Total Current Liabilities 997 1,265 1,261 Total Liabilities 1,152 1,477
Slide 16: Selected Cash Flow Figures
SELECTED CASH FLOW FIGURES AED M’s Actual DUG Actual Actual 2007 2008 2009 Nett Cash N C h ((used d iin )/ )/generated t d ffrom operating ti ( ) (43) 47 100 activities Net Cash used in investing activities (120) (254) (132)* * Includes short term deposits of AED 117.3 Million as a new IS accounting
Slide 17: Geographic Segmentation Actual 2009 vs. Actual 2008
GEOGRAPHIC SEGMENTATION ACTUAL 2009 VS. ACTUAL 2008 Revenue 3% 17% 16% 17% 81% 66% 3000 464 142 2000 449 37 343 1000 225 1488 1776 1158 0 2007 (AED 1,420) 2008 (AED 1,972) 2009 (AED 2,689) UAE MENA Excluding UAE Rest of the World 16
Slide 18: Activity Segmentation Actual 2009 vs. Actual 2008
ACTIVITY SEGMENTATION ACTUAL 2009 VS. ACTUAL 2008 Revenue 2% 3% 1% 13% 15% 18% 83% 79% 86% 3000 35 52 346 2000 30 359 1000 214 2308 1176 1561 0 2007 (AED 1,420) 2008 (AED 1,972) 2009 (AED 2,689) Procurement Manufacturing Contracting 17
Slide 19: Completed Acquisitions & Joint Ventures
COMPLETED ACQUISITIONS & JOINT VENTURES From Q4-2007 to Q1-2010 AED Million Acquisitions Decolight 27 Joint Ventures Jwico 18 ~450 450 companies Parker 64 identified Design Studio (round#1) 11 Paragon g Creative 1 ~80 companies DDS 7 contacted + Jwico Capital Increase 28 high-level analysis Lindner
Slide 20: Contents
CONTENTS 2009 Performance Backlog Financials, Risk Management and Investments Nasdaq Dubai and DFM Merger 2010 and Beyond 19
Slide 21: Nasdaq Dubai and DFM Merger
NASDAQ DUBAI AND DFM MERGER Merger to increase liquidity and unify platforms DFM & Nasdaq Dubai Merger Depa Implications The merger of the DFM and the Nasdaq Dubai (ND) will Improved liquidity. help drive cost efficiency and improve liquidity. ND plans to outsource its Trading, Clearing, Settl
Slide 22: Shareholder Structure
SHAREHOLDER STRUCTURE Institutional Investors accounts for approx. 55 % of total shareholdings Shareholder Composition Institutional Investors by Region 5.0% 14% 0% 4% 35.% 55.0% 54% 28% 2.0% 3.0% Institutional Investors Middle East Trading, Lending and Miscellaneous North America Retail Investors C
Slide 23: Contents
CONTENTS 2009 Performance Backlog Financials, Risk Management and Investments Nasdaq Dubai and DFM Merger 2010 and Beyond 22
Slide 24: 2010 and Beyond
2010 AND BEYOND We expect revenue and profit levels in 2010 to be similar to those of 2009. In 2011 and 2012, we expect 20% growth annually (including acquisitions). We continue to grow in new geographies and increase our market presence in Africa, Far East A i and Asia d IIndia. di We see s