Alandalus Property Co. · TADAWUL:4320
Alandalus Property — FY2020 Earnings Presentation
32 slides from Alandalus Property's earnings presentation, 2021
Slide 1: Investor Presentation FY 2020
Alandalus Property FY 2020 Investor Presentation FY 2020 1
Slide 2: Disclaimer
Disclaimer Alandalus Property FY 2020 The information contained in this presentation is subject to change without further notice, its accuracy is not guaranteed, and it may not contain all material information concerning the company. Neither we nor our advisors make any representation regarding, and
Slide 3: Contents
Contents Alandalus Property FY 2020 Overview 4 Operational Performance 13 Financial Performance 18 3
Slide 4: Overview
Overview Alandalus Property FY 2020 4
Slide 5: Alandalus Property is a pioneering Tadawul-listed real estate company
Change picture Alandalus Property FY 2020 Alandalus Property is a pioneering Tadawul-listed real estate company involved in the investment, development and operation of income- generating properties across the Kingdom of Saudi Arabia
Slide 6: Mission and Vision
Mission To develop and operate unique and compelling destinations differentiated by engaging guests, customers and communities through experiences that foster loyalty, frequency of visits and lifetime value which ultimately drive and sustain unparalleled growth Vision To become the most admired and
Slide 7: 2020 Achievements
2020 Achievements Alandalus Property FY 2020 ▪ The acquisition of QBIC office complex building in Riyadh. ▪ The sale of land for the benefit of Al-Ahly REIT 1 fund, due to the fund's expansion and renovation of Al-Andalus Mall. ▪ Launching the investor relations platform application in cooperation w
Slide 8: FY 2020 Performance at a Glance
FY 2020 Performance at a Glance Alandalus Property FY 2020 >15m 168m 57% Total Mall Footfall Revenue (SAR) Gross Profit Margin 96% 29% 48% * Avg Occupancy Rate of Operating Profit Margin EBITDA Margin Regional Malls Portfolio *Adjusted EBITDA ratio is 67% excluding impairment (32M) 8
Slide 9: Commercial Sectors
Commercial Sectors Alandalus Property FY 2020 RETAIL HOSPITALITY OFFICES HEALTHCARE Super Regional Regional Community Malls Malls Malls Al Andalus Salama West Jeddah Mall Hotel Tower Hospital QBIC Building Under development 9
Slide 10: Strategic Objectives
Strategic Objectives Alandalus Property FY 2020 Each business unit has a common set of strategic objectives that drive operations and functional focus Stakeholder Operational Project Strategic Investments Engagement Performance Acquisition & Partnerships Collaborate with all Drive footfall by Identi
Slide 11: Our Six Pillar Strategy to Enhance Value & Generate Growth
Alandalus Property Our Six Pillar Strategy to Enhance Value & Generate Growth FY 2020 Pillars Retail Food & Interactive Neighboring Entertainment Services offerings Beverage Engagement Developments • Partner with key • Distinctive with • Unique, • Leverage • Physical and • Locate new retail houses m
Slide 12: Commercial Principles
Commercial Principles Alandalus Property FY 2020 Assets should always be Retail and hospitality properties operative, never idle developed as standalone or mixed-use; healthcare properties developed only as mixed-use A healthy balance sheet APC not vertically integrated with liquid assets and low wi
Slide 13: Operational Performance
Operational Alandalus Property FY 2020 Performance 13
Slide 14: Retail
Retail Alandalus Property FY 2020 TYPE # OF MALLS GLA TOTAL FOOTFALL Super Regional 2 184k 13 million Malls Regional Malls 1 47k 2.5million Community Malls 4 27k N/A 14
Slide 15: Hospitality
Hospitality Alandalus Property FY 2020 Profile Profile Alandalus Mall hotel Location: Jeddah Area: 28,255 sqm Ownership: Al Ahli REIT Fund I (68.73% APC) Operated by: Alandalus Property. Occupancy Rate: 21% RevPAR: SAR 115
Slide 16: Offices: Salama Tower
Offices Alandalus Property FY 2020 Profile Salama Tower Location: Jeddah Net Leasable 31,420 sqm Area: Ownership: Al Ahli REIT Fund I (68.73% APC) Annual Rental SAR 23 million Value: Rental Period: 5 years
Slide 17: Offices: Qubeck Complex
Offices Alandalus Property FY 2020 Profile Qubeck complex Location: Riyadh Net Leasable sqm Area: Ownership: Al Ahli REIT Fund I (68.73% APC) Annual Rental SAR million Value: Rental Period: 3 years
Slide 18: Ongoing Investments
Ongoing Investments Alandalus Property FY 2020 Al Jawhara Mall Location: ▪ Jeddah Type: ▪ Super Regional Mall Area: ▪ 124,880 sqm Ownership: ▪ Al-Jawhara Al-Kubra (25% APC) Total expected project cost: ▪ SAR 873 million Expected Opening: ▪ Q2 2022 West Jeddah Hospital Location: ▪ Jeddah Type ▪ Healt
Slide 19: Financial Performance
Financial Alandalus Property FY 2020 Performance 19
Slide 20: Revenue
Revenue Alandalus Property FY 2020 180 -5% 168 100% +5.8 % 76.0% Retail (SAR Millions) Revenue 176 168 165 147 127 132 5.0% Hospitality 19.0% Offices 0 2015 2016 2017 2018 2019 2020 2020 20
Slide 21: Revenue by Business Segment
Revenue by Business Segment Alandalus Property FY 2020 Retail Hospitality Offices 149 140 139 - 14% 126 131 128 (SAR Millions) Revenue +220% 32 7 24 8 1 1 1 1 17 10 -53% 0 0 2015 2016 2017 2018 2019 2020 21
Slide 22: Gross Income & Margin
Gross Income & Margin Alandalus Property FY 2020 Gross Margin (%) Gross Income (SAR Million) 150 100% +5% 100 62% 6Y-6.5% Avg 59% 58% 57% Gross Margin (SAR Millions) 58% 57% Gross Income 6Y Avg: 58.5% (%) 50 102.4 95.7 93.7 82.0 84.4 75.1 0 0% 2015 2016 2017 2018 2019 2020 22
Slide 23: Operating Income & Margin
Operating Income & Margin Alandalus Property FY 2020 Operating Margin (%) Operating Income (SAR Million) 150 100% -14.2% 82% 76% 74% 100 Operating Income 59% Operating Margin (SAR Millions) 6Y Avg: 62.7% 56% -53.6% 59% 50% (%) 104.0 108.8 104.2 29% 50 99.9 92.6 48.3 0 0% 2015 2016 2017 2018 2019 202
Slide 24: EBITDA & Margin
EBITDA & Margin Alandalus Property FY 2020 EBITDA Margin (%) EBITDA (SAR Million) 150 150% - 7% 122.0 127.3 116.6 110.7 110.9 -36.2% 100 92% 100% EBITDA Margin EBITDA Income 84% (SAR Millions) 83% 81.2 74.5% 72% 6Y Avg (%) 67% 48% 50 50% 0 0% 2015 2016 2017 2018 2019 2020 *Adjusted EBITDA ratio is 6
Slide 25: Net Income (shareholders) & Margin
Net Income (shareholders) & Margin Alandalus Property FY 2020 Net Margin (%) Net Income (SAR Million) 150 100% - 31.4% 81% 74% 70% 100 6Y Avg: 55% (SAR Millions) Net Margin 52% Net Income (%) 50% 1 41% 118.4 50 94.1 91.8 -77.9% 2 64.8 48.0 11.8% 14.3 0 0% 2015 2016 2017 2018 2019 2020 1 – Includes E
Slide 26: Return on Equity (ROE)
Return on Equity (ROE) Alandalus Property FY 2020 11.3% 10.9% 10.1% 6Y Avg: 7.3% 5.8% 4.1% 1.3% 0% 2015 2016 2017 2018 2019 2020 26
Slide 27: Return on Assets (ROA)
Return on Assets (ROA) Alandalus Property FY 2020 8.5% 8.3% 7.9% 6Y Avg: 5.4% 3.1% 4.0% 0.8% 0% 2015 2016 2017 2018 2019 2020 27
Slide 28: Funds From Operations (FFO)
Funds From Operations (FFO) Alandalus Property FY 2020 FFO % of Revenue FFO (SAR Million) 101% - 5.0% 150 100% 93% 88% 6Y Avg: 73.2 % 100 61% 59.1% +55.9% 50% 128.4 122.6 129.7 36% 50 100.7 99.1 63.6 0 0% 2015 2016 2017 2018 2019 2020 28
Slide 29: Liquidity
Liquidity Alandalus Property FY 2020 Net Working Capital -13.6% 279,398 166,976 185,864 160,532 -34,155 -61,189 2015 2016 2017 2018 2019 2020 Current Ratio 1.99 3.00 2.72 2.50 2.56 0.69 0.49 2015 2016 2017 2018 2019 2020 29
Slide 30: Leverage
Leverage Alandalus Property FY 2020 Debt-Equity Ratio 0.60 0.37 0.32 0.25 0.18 0.07 2015 2016 2017 2018 2019 2020 * Debt-Assets Ratio 0.38 0.27 0.24 0.20 0.17 0.07 2015 2016 2017 2018 2019 2020 * Note: * Debt-Equity ratio and Debt-Asset ratio would be 49% and 31%, respectively, if the impact of IFRS
Slide 31: Consolidated Balance Sheet as at Dec 2020
Consolidated Balance Sheet as at 31 Dec 2020 Alandalus Property FY 2020 Total Assets (SAR million) Total Liabilities & Equity (SAR million) 1,799 1,980 1,799 1,980 108 103 465 481 383 641 1,041 1,235 1,109 1,053 294 264 200 183 2019 2020 2019 2020 Investments Fixed Assets Current Assets Current Liab
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