Emirates Reit (ceic) Plc · NASDAQDUBAI:REIT
Emirates Reit (ceic) — Shareholder Meeting (June 2023)
29 slides from Emirates Reit (ceic)'s shareholder meeting presentation, Jun 12, 2023
Slide 1: 2023 Annual General Meeting
2023 ANNUAL GENERAL MEETING 12 JUNE 2023
Slide 2: Disclaimer
INTRODUCTION DISCLAIMER(1) PAGE 2 This presentation has been prepared by Equitativa Such statements reflect current views on, among Neither Equitativa nor Emirates REIT intend or among other things, general business and (Dubai) Limited (“Equitativa” or the “Manager”), other things, markets, activiti
Slide 3: Speakers
INTRODUCTION SPEAKERS PAGE 3 Abdullah Al Hamli Sylvain Vieujot Florence Le Fur Alain Debare Sheikh Muhammed Moeen Chairman Executive Deputy Chairman Acting CEO Group Head of Real Estate Finance Director
Slide 4: Table of Contents
INTRODUCTION TABLE OF CONTENTS PAGE 4 1 FY 2022 HIGHLIGHTS 2 OPERATIONAL HIGHLIGHTS 3 FY 2022 FINANCIAL REVIEW 4 Q1 2023 UPDATE Operational Highlights & Financial Update 5 GOVERNANCE 6 Q&A 7 VOTING
Slide 5: FY 2022 Highlights
FY 2022 HIGHLIGHTS FY 2022 HIGHLIGHTS PAGE 5 SUSTAINED IMPROVEMENT IN OPERATIONS AND NET ASSET VALUE Y-O-Y OCCUPANCY (1) INVESTMENT PROPERTIES (2) NET ASSET VALUE 84.5% USD 784.9m USD 372.6m +12.7 p.p. +6.5% +28.6% NET PROPERTY INCOME (3) NET PROFIT EARNINGS PER SHARE USD 55.3m USD 82.0m USD 0.257 -
Slide 6: Operational Highlights
OPERATIONAL HIGHLIGHTS
Slide 7: Operational Highlights
OPERATIONAL HIGHLIGHTS OPERATIONAL HIGHLIGHTS PAGE 7 FY 2022 Q1 2023 • Occupancy across the portfolio increased by 12.7 p.p. to 84.5% • Occupancy in the portfolio increased by 2.9 p.p Y-o-Y to 84.5% as at March 31st, for FY 2022. 2023. • Passing rental rates across the commercial portfolio increased
Slide 8: Office Portfolio: Index Tower
OPERATIONAL HIGHLIGHTS OFFICE PORTFOLIO INDEX TOWER PAGE 8 FY 2022 Q1 2023 • Strong growth in occupancy levels to 80.7% implying • Occupancy: 78.6%, a strong growth in occupancy of +7.1 a y-o-y increase of 18.4 p.p. p.p. Y-o-Y • Strong demand for larger premium fully fitted and • Offices 85% (+5.5 p
Slide 9: Office Portfolio: Office Park
OFFICE PORTFOLIO OFFICE PARK PAGE 9 FY 2022 Q1 2023 • Strong recovery in occupancy levels to 88.1% implying • Occupancy: 88%, increased by +15.1 p.p. Y-o-Y. a y-o-y increase of 15.8 p.p. • Passing rental rates increased by 7.3% Y-o-Y to • Refurbished in 2021 and continues to be well positioned AED 1
Slide 10: Office Portfolio: Loft Offices
OFFICE PORTFOLIO LOFT OFFICES PAGE 10 FY 2022 Q1 2023 • Notable market recovery in DMC since 4Q 2022 with • Occupancy: 48.9%, a strong increase of +9.5 p.p. Y-o-Y. good conversion of enquiries since September 2022. • Activity is currently concentrated in Loft Offices 1 & 2 with • Demand typically by
Slide 11: Office Portfolio: European Business Centre
OFFICE PORTFOLIO EUROPEAN BUSINESS CENTRE PAGE 11 FY 2022 Q1 2023 • Premium building within Dubai Investments Park • Occupancy stable with 70.2% at 31 March 2023 (+1 p.p. Y- with high visibility and metro access. o-Y). • Occupancy decreased by 6.5 p.p. to 68.5% during FY • Passing rates increased by
Slide 12: Office Portfolio: Building
OFFICE PORTFOLIO BUILDING 24 PAGE 12 FY 2022 Q1 2023 • Excellent Location, part of phase one of Dubai Internet • Occupancy: 49.4%, increased by 3.7 p.p. Y-o-Y. City. New competition and refurbished properties within • Passing rates decreased by 8.1 % Y-o-Y with new the freezone. competition and refu
Slide 13: Office Portfolio: Indigo
OFFICE PORTFOLIO INDIGO 7 PAGE 13 FY 2022 Q1 2023 • Excellent location and with high visibility along • Occupancy 92.8% as at March 31, 2023. Sheikh Zayed Road. • Now fully leased as at 12 June 2023, well established • Occupancy remains at 100%. property in high demand for its retail and commercial
Slide 14: Retail Portfolio: Trident Mall
RETAIL PORTFOLIO TRIDENT MALL PAGE 14 FY 2022 Q1 2023 • Occupancy level of the retail area excluding terraces • Y-o-Y occupancy increased by 4.3 p.p. to 75.8% as at March increased by 4.3 p.p. to 75.8% y-o-y. 31, 2023. • Good interest in retail at Trident during Q1 2023. • Optimisation of operationa
Slide 15: Education Portfolio
EDUCATION PORTFOLIO EDUCATION PORTFOLIO PAGE 15 FY 2022 / Q1 2023 GEMS WORLD ACADEMY • GEMS completed a property improvement plan, with an upgrade to the décor and the facilities. LYCÉE FRANCAIS JEAN MERMOZ • Progressing with works for phase three. • Continued strong demand for french curriculum and
Slide 16: FY 2022 Financial Review
TITLE01 FY 2022 TITLE02 FINANCIAL REVIEW 16
Slide 17: Consolidated Statement of Comprehensive Income
CONSOLIDATED STATEMENT FY 2022 - FINANCIAL REVIEW PAGE 17 OF COMPREHENSIVE INCOME FOR THE YEAR ENDED IN USD ‘000 DEC 31, 2022 DEC 31, 2021 CHANGE Y-O-Y • Rental, Fee & Other Income amounted to USD 68.8m as at RENTAL, FEE & OTHER INCOME 68,785 62,092 10.8% December 31, 2022, a 10.8% increase y-o-y. T
Slide 18: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT FY 2022 - FINANCIAL REVIEW PAGE 18 OF FINANCIAL POSITION AS AT IN USD ‘000 DEC 31, 2022 DEC 31, 2021 CHANGE Y-O-Y • Driven by continued improved valuations, the investment properties fair value recorded a USD 48.0m increase (+6.5%) y-o-y. INVESTMENT PROPERTIES - FAIR VALUE 784
Slide 19: Net Property Income
FY 2022 - FINANCIAL REVIEW NET PROPERTY INCOME PAGE 19 Disregarding one-offs (1) -1.3% +14.6% USD M 60.0 45.0 One-off gain resulting One-off loss resulting 30.0 56.0 55.3 56.8 49.5 1.5 (1.5) 15.0 6.5 12.8 13.5 14.1 14.4 14.1 14.2 11.7 12.0 12.3 0.0 FY 2021 FY 2022 FY 2021 FY 2022 Q1 2021 Q2 2021 Q3
Slide 20: Q1 2023 Financial Update
TITLE01 Q1 - 2023 TITLE02 FINANCIAL UPDATE 20
Slide 21: Consolidated Statement of Comprehensive Income
CONSOLIDATED STATEMENT Q1 2023 - FINANCIAL UPDATE PAGE 21 OF COMPREHENSIVE INCOME FOR THE QUARTER ENDED IN USD ‘000 MAR 31, 2023 DEC 31, 2022 CHANGE Q-O-Q TOTAL PROPERTY INCOME 17,234 17,053 1.1% • In line with overall stable portfolio occupancy, total property PROPERTY OPERATING EXPENSES (3,052) (2
Slide 22: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT Q1 2023 - FINANCIAL UPDATE PAGE 22 OF FINANCIAL POSITION AS AT IN USD ‘000 MAR 31, 2023 DEC 31, 2022 CHANGE Q-O-Q • Driven by continued improved valuations, Investment properties grew by 1.5% q-o-q. INVESTMENT PROPERTIES 797,029 784,932 1.5% • Cash and bank balances as at Marc
Slide 23: Net Property Income
Q1 2023 - FINANCIAL UPDATE NET PROPERTY INCOME PAGE 23 One-off gain resulting 20.0 -0.4% One-off loss resulting (*) 6.5 1.5 15.0 (1.5) 1.0 (*) 1.9 2.2 (*) (*) 1.5 (*) (*) 2.0 2.1 10.0 14.2 (*) 14.2(*) (*) 14.1(*) 14.2(*) 14.2 (*) 13.4 (*) 12.2 (*) (*) 11.3 (*) 10.8 5.0 9.6(*) 10.0 0.0 Q4 2022 Q1 202
Slide 24: Governance
GOVERNANCE
Slide 25: Governance Update
GOVERNANCE GOVERNANCE UPDATE PAGE 25 Thierry Delvaux Helal Tariq Lootah In the coming weeks Mr Thierry Delvaux will The appointment of Mr Helal Tariq Lootah be joining Equitativa as Chief Executive as a new Member to the Investment Board, Officer, subject to DFSA approval. to hold office until the c
Slide 26: Questions & Answers
lke Emirates REIT QUESTIONS & ANSWERS EQUITATIVA
Slide 27: Voting
lke Emirates REIT VOTING EQUITATIVA
Slide 28: Conclusion
lke Emirates REIT CONCLUSION EQUITATIVA
Slide 29: Thank You
lke Emirates REIT THANK YOU EQUITATIVA
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