Mabanee Company (sakc) · KSE:MABANEE
Mabanee Company (sakc) — Mabanee Company — FY2022 Earnings Presentation
33 slides from Mabanee Company (sakc)'s earnings presentation, February 2023
Slide 1: Mabanee Company (K.P.S.C)
Mabanee Company (K.P.S.C) (ع.ك.م.ﺷـﺮﻛـﺔ اﻟﻤﺒـﺎﻧــﻲ )ش Paid Up Capital K.D 124,168,357.400 ك. د١٢٤،١٦٨،٣٥٧.٤٠٠ رأس اﻟﻤﺎل اﻟﻤﺪﻓﻮع Commercial Register 4421 ٤٤٢١ اﻟﺴﺠﻞ اﻟﺘﺠﺎري P.O.Box: 5132 Safat 13052 Kuwait اﻟﻜﻮﻳﺖ١٣٠٥٢ اﻟﺼﻔﺎة٥١٣٢ ب.ص Tel: +965 2224 4444 Fax: +965 2224 4440 +٩
Slide 2: Q4 & FY 2022 Results Presentation
Q4 & FY 2022 Results Presentation Period Ended 31 December 2022 February 2023
Slide 3: Presenters
Wevsnes ‘war Mabanee com Yovanes Wleanes ‘wir Mabaneecom Tareq Al-Adsani Deputy Chief Executive Officer Salman Asadulla Corporate Financial Control Assistant Manager Reem Al-Hajri Investor Relations, Manager
Slide 4: Disclaimer/Disclosure/Forward Looking Statements
DISCLAIMER/DISCLOSURE/FORWARD LOOKING STATEMENTS 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
Slide 5: Content
CONTENT 5 PERFORMANCE HIGHLIGHTS 6 • THE AVENUES • SABAH AL AHMAD (S3) KUWAIT • HILTON GARDEN INN • AVENTURA - (J3) OPERATIONAL PROJECTS • WALDORF ASTORIA 12 • THE AVENUES BAHRAIN • HILTON GARDEN INN • West Expansion 16 • THE AVENUES - RIYADH KSA • THE AVENUES - KHOBAR 20 FINANCIAL PERFORMANCE 4
Slide 6: Performance Highlights FY-2022
PERFORMANCE HIGHLIGHTS FY-2022 Strong Group KD 113.22 Mn. KD 84.54 Mn. KD 61.08 Mn. performance +12.64% +11.40% +10.24% • Revenue • EBITDA • Net Profit • Continued commitment on strategy execution. Business • Robust returns and enhanced margins. Highlights • Improved footfall and occupancy rates. •
Slide 7: Kuwait
KUWAIT • AVENTURA - (J3) • SALMIYA • THE AVENUES • HILTON GARDEN INN • WALDORF ASTORIA • SABAH AL AHMAD (S3) 6
Slide 8: The Avenues - Kuwait
THE AVENUES - KUWAIT FOOTFALL RECOVERY TO PRE-PANDAMIC THE AVENUES-KUWAIT OCCUPANCY LEVELS RATES PLOT AREA BUILT-UP AREA 393,800 SQM 1,278,300 SQM PARKING NUMBER OF ANCHORS 14 CAPACITY STORES 12,500 1,094 28 12 DISTRICTS • Developed and managed by Mabanee, The Avenues is the largest and most visited
Slide 9: Hilton Garden Inn - Kuwait
HILTON GARDEN INN - KUWAIT HILTON GARDEN INN PLOT AREA BUILT-UP AREA 12,253sqm 35,000sqm 385 NO. KEY • Connected to the north side of The Avenues. OPERATOR • Hotel’s RevPar for FY-22 increased by 43.7% vs. 2021. HILTON WORLDWIDE • Occupancy at FY-22 occupancy rate at 40%, vs. 28.9% in 2021. • Busine
Slide 10: Waldorf Astoria - Kuwait
WALDORF ASTORIA - KUWAIT Waldorf Astoria The Hotel Project of the Year in Kuwait - 2022 award PLOT AREA BUILT-UP AREA 11,899sqm 47,800sqm • A five-star luxury business and leisure hotel connected to the south side of The Avenues through the Prestige District. 200 NO. KEY • Latest addition to the Gro
Slide 11: Aventura (J3) - Kuwait
AVENTURA (J3) - KUWAIT CMYK MABANEE’S OWNERSHIP PROJECT TYPE 35% PPP project* 445 MALL BUA MALL GLA NUMBER OF UNITS • Mabanee, the Lead Developer of a Consortium of Companies selected as the “preferred 295,000 108,200 investor” for the J3 Jaber Al Ahmad Investment Opportunity from The Public Authori
Slide 12: Sabah Al Ahmad (S3) - Kuwait
SABAH AL AHMAD (S3) - KUWAIT PANTON PLOT AREA SOUK PLOT AREA 40,121 sqm 32,451sqm 110 66,053 • Selected HOTEL BUA as the “preferred investor” for the S3 Sabah Al Ahmad Investment ROOMS Opportunity from The Public Authority for Housing Welfare (PAHW). HOTEL OPERATOR PROJECT TYPE • Commercial mixed-us
Slide 13: Bahrain
BAHRAIN • THE AVENUES King Fahad causeway • HILTON GARDEN INN KSA 12
Slide 14: The Avenues - Bahrain
THE AVENUES - BAHRAIN The Avenues-Bahrain Occupancy rates 95.5% 92.5% 90% 89% PLOT AREA BUILT-UP AREA 272,000 sqm 136,000sqm 1,420 120 PARKING CAPACITY NUMBER OF UNITS 2019 2020 2021 2022 10 3 • Located at the heart of Manama, was inaugurated in 2017. The design is inspired by CINEMAS DISTRICTS MANA
Slide 15: Hilton Garden Inn - Bahrain
HILTON GARDEN INN - BAHRAIN PLOT AREA BUILT-UP AREA 2,000sqm 23,600sqm 192 NO. KEY • Located in the heart of Bahrain Bay and directly connected to The Avenues - Bahrain. OPERATOR • Positive turnout led to higher Occupancy 64% FY-22. HILTON WORLDWIDE • Positive performance outlook with the kingdom’s
Slide 16: West Expansion The Avenues - Bahrain
WEST EXPANSION THE AVENUES - BAHRAIN THE AVENUES PHASE I THE AVENUES PHASE II 115,870 BUILT-UP AREA Mabanee’s onwership sqm 35% 248 RETAIL UNITS MANAGEMENT 100% • An extension of the west part of The Avenues - Bahrain. • West Expansion will result in an increase to the total project’s GLA to reach a
Slide 17: KSA
KSA • THE AVENUES - KHOBAR • THE AVENUES - RIYADH 16
Slide 18: The Avenues - Riyadh
THE AVENUES - RIYADH OA D THE AVENUES N R RIYADH A ALM GS KIN KIN GF AH AD RO AD 60% 387,700 MABANEE’S OWNERSHIP LAND sqm MANAGEMENT • On-site construction, district cooling plant and external roads improvement works 1,505,000 100% MALL & INFRASTRUCTURE BUA continues. • project’s overall progress at
Slide 19: The Avenues - Khobar
THE AVENUES - KHOBAR THE AVENUES KHOBAR AD N RO LTA SU KING SAUD BIN ABDULAZIZ ROAD EER AM AL 60% 197,600 MABANEE’S OWNERSHIP PLOT AREA sqm MANAGEMENT 696,000 BUILT-UP AREA • Enabling and bulk excavation works at 88% progress until date. 100% sqm • Enabling and bulk estimated to be completed in Dece
Slide 20: The Estimated Projects Timeline (Under Development)
THE ESTIMATED PROJECTS TIMELINE (UNDER DEVELOPMENT) 2019 2020 2021 2022 2023 2024 2025 2026 2027 THE KINGDOM OF AVENUES RIYADH ** SAUDI ARABIA THE KINGDOM OF AVENUES KHOBAR SAUDI ARABIA KINGDOM OF AVENUES BAHRAIN-PHASE2 BAHRAIN KUWAIT J3-AVENTURA KUWAIT S3-SOUK SABAH (TO BE DETERMINED) * Projects’ t
Slide 21: Financial Highlights Performance
Financial Highlights Performance Year ending December 31-2022
Slide 22: Profitability Indicators
Profitability Indicators Higher occupancy at The Avenues in comparison to the previous periods has translated into a year on year growth. 21
Slide 23: Profitability Indicators (Continued)
Profitability Indicators (Continued) The returns are in line with the growing asset and equity base. The interest coverage has declined with the growing central bank discount rate compared to the previous periods and the cessation of borrowing cost capitalization of our recently completed project, W
Slide 24: Performance Ratios - The Group
Performance Ratios - The Group 23
Slide 25: Performance Ratios - The Avenues
Performance Ratios - The Avenues Higher occupancy at The Avenues in comparison to the previous periods has translated into a year on year growth. 24
Slide 26: Performance Ratios - Hospitality
Performance Ratios - Hospitality Strong performance with high RevPAR and ADR with improved occupancy with the results now including the results of Waldorf Astoria Hotel. 25
Slide 27: Debt Structure
Debt Structure Debt to Equity % Debt to Asset % 4.66% -7.16% Saar a * ” 3.46% : = : ' 420 Q421 Q422 Q420 Q421 422 Net Debt KD Mn 17.43% Frye Cm -16.79% - 246.38 Q4-20 4-21 4-22 26
Slide 28: Financial Ratio and Shares
Financial Ratio and Shares Investment in asset creation, shareholder’s satisfaction along with retention of profits to fund our expansion has resulted in stable performance. 27
Slide 29: Appendix
Appendix
Slide 30: Consolidated Statement of Income
Consolidated Statement of Income 29
Slide 31: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position 30
Slide 32: Q&As
Q&As wavanes
Slide 33: Thank You
Thank You MABANEE COMPANY K.P.S.C P.O. Box 5132 Safat l 13052 Kuwait +965 222 444 29 bm;v|ouvu;Ѵ-ঞomvŠl-0-m;;ĺ1ol www.mabanee.com Mabanee Company @mabaneeco MABK.KW MABANEE.KW MABANEE KK