Mabanee Company (sakc) · KSE:MABANEE
Mabanee Company (sakc) — Mabanee Company — FY2023 Earnings Presentation
29 slides from Mabanee Company (sakc)'s earnings presentation, 2024
Slide 1: Q4 - 2023 Results Presentation
Q4 - 2023 Results Presentation Year Ended 31 December 2023
Slide 2: 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 3: Content
CONTENT THE AVENUES SABAH AL AHMAD (S3) KUWAIT HILTON GARDEN INN AVENTURA - (J3) WALDORF ASTORIA THE AVENUES BAHRAIN . HILTON GARDEN INN WEST EXPANSION KSA * THE AVENUES - RIYADH * THE AVENUES - KHOBAR FINANCIAL PERFORMANCE usLyo qgabanee .
Slide 4: Performance Highlights Q4 - 2023
PERFORMANCE HIGHLIGHTS Q4 - 2023 Strong Group KD 129.33 Mn, KD 96.56 Mn. KD 64.99 Mn. performance +14.23% +14.22% +6.40% e Revenue e EBITDA © Net Profit © Continued commitment to corporate strategy. © Improved footfall and occupancy in Kuwait and Bahrain. © Significant construction progress in proje
Slide 5: Kuwait
KUWAIT AVENTURA - (J3) © HILTON GARDEN INN * WALDORF ASTORIA SABAH AL AHMAD (S3) Me oats 4 ay
Slide 6: The Avenues - Kuwait
THE AVENUES - KUWAIT WEVA VEEN ee ¢ Highest footfall reached 36.7 million in 2023, as opposed to 34.9 million in 2022. SSeS ere GLA SQM qabanee
Slide 7: Hilton Garden Inn - Kuwait
HILTON GARDEN INN - KUWAIT ergs = j aaa 35,000 .e Lic abanee ’ ay e RevPAR reached KD 32.69 in 2023. © Occupancy increased to 42.8% in 2023.
Slide 8: Waldorf Astoria - Kuwait
WALDORF ASTORIA - KUWAIT e Increase in occupancy in 2023 to 39% ¢ Recently awarded the Forbes Travel Guide Five-Star award for the hotel, as well as the Waldorf Astoria’s Spa receiving a Five-Star Rating, making the hotel the first and only double Five-Star hotel in Kuwait to receive this distinctio
Slide 9: Aventura (J3) - Kuwait
AVENTURA (J3) - KUWAIT yg alisl wey ¢ Progress on both components of the project. ¢ Residential comprised of villas and apartments. ¢ Overall construction progress at 31%. a2 2026 | 2025 gabanee ’ ay vsiLic
Slide 10: Hotel and Souk Plot Area
HOTEL ‘SOUK PLOT AREA * Project type is PPP, where Mabanee owns 100%. 1 1 0 32,45 1 * Works to start once permits are issued. ROOMS sqm HOTEL OPERATOR PROJECT TYPE © Comprised of a traditional Souk and three star hotel, Hampton by Hilton. ‘ HILTON GROUP PPP =i abanee 5 " ay
Slide 11: Bahrain
BAHRAIN Me oats Hd 4 ay
Slide 12: The Avenues - Bahrain
THE AVENUES - BAHRAIN 7 i ee ee u q BUILT-UP AREA — cae, Bre Se & a 136, 000 4 = f 4 Wy: = a PARKING CAPACITY NUMBER OF UNITS ¢ Enjoyed an increase in footfall to 5.7 million visitors. 3 MANAGEMENT © Occupancy levels reached 98% in 2023 0 ¢ Expansion to be unveiled later during this year. 1 00 % 72,
Slide 13: The Avenues - Bahrain West Expansion
THE AVENUES - BAHRAIN WEST EXPANSION P a st Ne : Se oF. BUILT-UP AREA | Mabanee's onwership 115,870..,,| 35% e 60.5% construction progress for west expansion. sqm : ’ ; - : : 3 TNiTs MANAGEMENT ¢ West expansion leasing operations at 50% leased, ahead of opening this year. | 248 | MABANEE e Expected
Slide 14: Hilton Garden Inn - Bahrain
HILTON GARDEN INN - BAHRAIN zeHilton ee 23,500 HILTON GROUP | qm abanee "4 . ay © Occupancy rate of the hotel recorded at 66%.
Slide 15: The Avenues - Khobar / Riyadh
—e THE AVENUES - KHOBAR THE AVENUES - RIYADH ee i u ay
Slide 16: The Avenues - Riyadh
THE AVENUES - RIYADH © Current progress of construction is at 35%. ¢ Project going according to plan and set milestones. Bua] MANAGEMENT 1,800 OOO}: p p sqm MALL GLA Jexrecten comPLerion 370,000 sqm sly gabanee ’ ay
Slide 17: The Avenues - Khobar
¢ Groundbreaking ceremony took place in December 2023. © Completed a financing agreement of SAR 4.35 Billion by a consortium of banks, for BUILT-UPAREA | MANAGEMENT the first phase of the project. ia ) HOLDING sqm GLA MALL COMPLETION! 175,000 | 23, sqm =o 17 gabanee : ity
Slide 18: The Estimated Projects Timeline (Under Development)
THE ESTIMATED PROJECTS TIMELINE (UNDER DEVELOPMENT) 2019 2020 2021 2022 2023 2024 2025 2026 2027 THE KINGDOM OF Ee AVENUES RIYADH SAUDI ARABIA SAUDI ARABIA KINGDOM OF \ E § BAHRAIN KUWAIT AVENUE HRAIN-WEST EXPANSION KUWAIT * Projects’ timings could change from the provided estimation. wall .s=tLyo -
Slide 19: Financial Performance
Financial Performance Highlights Q4 - 2023
Slide 20: Profitability Indicators
Profitability Indicators Net Profit KD Mn Net Profit Margin % EBITDA KD Mn : 12M-22 - 12M-23 : Operationally stable performance at The Avenues Kuwait where there is a work in progress on the right tenant mix, contract uplifts, increased WAULT, etc., which supports our bottom-line growth. A robust ca
Slide 21: Profitability Indicators (Continued)
Profitability Indicators (Continued) abanee Return on Average Assets % 12M-22 2-23 Return on Average Equity % 11.06 12M-2 12M-23 The returns are in line with the growing asset and equity base. 21
Slide 22: Performance Ratios - The Group
Performance Ratios - The Group Revenue KD Mn Operating Expense KD Mn Operating Margin % 113.22 22M22 2M23 12m22 2M23 Revenues have risen from The Avenues Kuwait along with Waldorf Astoria’s performance. The expenses have significantly risen due to the increase in the land lease price of The Avenues
Slide 23: Performance Ratios - The Avenues
Performance Ratios - The Avenues Revenue KD Mn Operating Expense KD Mn Operating Margin % 113.77 104.74 19.34 22M22 2M23 12M22 2M23 Margins have decreased in line with the additional costs of The Avenues Kuwait's land lease payment but these have been partially offset with the increased top-line per
Slide 24: Performance Ratios - Hospitality
Performance Ratios - Hospitality a Revenue KD Mn 15.13 1M22 12M23 Operating Expense KD Mn 2M22 12M23 Operating Margin % 12M23 Higher revenue is mainly on account of better Occupancy, RevPAR and ADR driven by the opening of Waldorf Astoria Kuwait in Aug-22. t=JLi_o abanee 24
Slide 25: Appendix
Appendix
Slide 26: Consolidated Statement of Income
Consolidated Statement of Income KD'000 2023 2022 YoY % Investment properties revenue 114,199 105,212 8.54 Revenue from hospitality 15,133 8,010 88.93 Total Operating Revenue 129,332 113,222 14,23 Investment properties expenses (22,932) (19,714) (16.32) Depreciation on investment properties (11,338)
Slide 27: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position ASSETS (KD'000) 2022 YoY % EQUITY AND LIABILITIES (K' 202: 2022 YoY % Non-current assets Equity Property and equipment 145,143 150,342 (3.46) Total shareholder's equity 620,150 575,201 7.81 Investment properties 895,775, 763,344 17.35 Non-controlling inte
Slide 28: reg n
reg n 28
Slide 29: Thank You
Thank You MABANEE COMPANY K.P.S.C QQ, PO. Box 5132 Safat | 19052 Kuwait QQ +965 222.444 29 [FQ investorsrelations@mabanee.com 17 TradingView vi REUTERS yahoo! Bloomberg a ) wwmumabanee.com (fn) Mabanee Company _(@) @mabaneeco MABANEE MABK.KW MABANEE.KW MABANEE KK