Al Dar Properties · ADX:ALDAR
Al Dar Properties — Q3 2018 Earnings Presentation
22 slides from Al Dar Properties's earnings presentation, November 2018
Slide 1: Aldar Q3 2018 Results Presentation
Q3 2018 Aldar Q3 2018 Results RESULTS PRESENTATION
Slide 2: Disclaimer
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Slide 3: At a Glance
Q3 revenue up 8% Q3 gross profit down 1% Q3 net profit down 30% 1,380 1,497 601 588 581 420 Q3 2017 Q3 2018 Q3 2017 Q3 2018 Q3 2017 Q3 2018 AT A GLANCE Development Asset Management Corporate and other ❑ Development revenue up 4%, ❑ Resilient portfolio performance with ❑ Net profit down 30% due to lo
Slide 4: Recent Announcements
ANNOUNCEMENTS Emaar JV Largest real estate asset acquisition Spin out recurring business ❑ MoU signed in March 2018 ❑ AED 3.6 bn asset acquisition across ❑ Formal spin-off of Aldar’s asset development management business ❑ AED 30 billion gross development RECENT value across two projects ❑ 2 PUDs no
Slide 5: Development Management
Development revenue based on progress of completion 100% Ansam Hadeel Meera Nareel Island Al Merief Jawaher DEVELOPMENT West Yas ¹ Mamsha MANAGEMENT Yas Acres Q3 2018 highlights Mayan Revenue recognised 14 projects within development pipeline at various stages – 5 handed over/ in process of handover
Slide 6: Asset Management
Q3 2018 NOI up 6% to AED 381 million 9M 2018 NOI up 3% to AED 1.2 billion 63 47 30 23 20 0 1 35 111 93 330 277 121 126 382 398 MANAGEMENT 118 117 359 362 Q3 2018 Q3 2017 9M 2018 9M 2017 Retail Residential Commercial Hospitality Adjacent • Includes education 87% occupancy¹ 88% occupancy¹ 93% occupanc
Slide 7: Prudent Capital Management
PRUDENT CAPITAL Primed for growth New corporate structure optimizing capital o New corporate structure already enabling asset Aldar MANAGEMENT management to operate more independently and (Baa2) drive greater operational and capital efficiency o Aldar Investments attained Baa1 credit rating and succ
Slide 8: Government Policy Reform
POLICY REFORM GOVERNMENT Abu Dhabi Government stimulus ADNOC growth Federal law amendments o AED 50 billion ($13.6 billion) stimulus o 5-year capex plan of AED 486 billion o Amendments to UAE’s federal policies announced in June and detailed in (US$ 132 billion) approved by SPC in announced in Q3 20
Slide 9: Summary
Development ❑ Development sales backlog provides visibility on future development revenues ❑ Emaar JV and recent asset acquisition support growth through expanded and more diverse development pipeline Asset Management ❑ Resilient performance across all key sectors with growth delivered by recent ass
Slide 10: Appendix
APPENDIX Aldar Q3 2018 Results
Slide 11: Development Summary
Total as at 30 Sept 2018 Project Location Launch date Sales value Expected completion Sold units ¹ Units launched % sold % completion (AEDm) ¹ Commenced handover in Ansam Yas Island 2014 516 882 547 94% 100% Q4 2017 Commenced handover in DEVELOPMENT Hadeel Al Raha Beach 2014 229 483 233 98% 100% Q4
Slide 12: Development Pipeline: Commenced Handover
COMMENCED HANDOVER Nareel Island Type: Exclusive land plots for villa development Land: Non-investment zone DEVELOPMENT Location: Nareel Island, off Abu Dhabi Island Units launched: 161 Sold as at 30 Sep 2018: 59% HANDED OVER Ansam Type: Prime residential apartments Land: Investment zone PIPELINE Lo
Slide 13: Mamsha, Meera, Mayan and other projects
EXPECTED COMPLETION: 2019 EXPECTED COMPLETION: Q4 2018 Mamsha Meera Type: Beachfront residential apartments Type: Residential apartments Land: Investment zone Land: Investment zone Location: Saadiyat Island Location: Reem Island Units launched: 461 Units launched: 408 Sold as at 30 Sep 2018: 31% Sol
Slide 14: Water's Edge, The Bridges, Reflection, Alghadeer
EXPECTED COMPLETION: 2020 The Bridges Type: Mid-market residential apartments Land: Investment zone Location: Reem Island Units launched: 636 Sold as at 30 Sep 2018: 93% EXPECTED COMPLETION: 2021 Reflection Type: Mid-market residential apartments Land: Investment zone Location: Reem Island Units lau
Slide 15: Financial Statements
Profit and loss Balance sheet As at As at AED millions Q3 2018 Q3 2017 9M 2018 9M 2017 AED millions 30-Sep-18 30-Jun-18 STATEMENTS Revenue 1,504 1,380 4,479 4,312 Direct costs (923) (792) (2,533) (2,429) Property, plant and equipment 3,606 3,644 Gross profit 581 588 1,945 1,882 Gross profit Margin 3
Slide 16: Segmental Analysis Q3 2018
Q3 2018 recurring revenues of AED 781 million (Q3 2017: AED 667 million, Q2 2018: AED 761 million) ¹ Q3 2018 Segmental Revenue Performance AED Millions 577 516 493 435 421 448 398 352 353 SEGMENTAL 129 92 118 19 23 16 Investment Properties Hospitality & Leisure Adjacent Businesses Development Manage
Slide 17: Segmental Analysis 9M 2018
9M 2018 recurring revenues of AED 2.3 billion (9M 2017: AED 2.1 billion) ¹ 9M 2018 Segmental Revenue Performance AED Millions 1,666 1,456 1,320 1,277 1,057 1,131 SEGMENTAL 376 323 59 124 Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Property Development ANALY
Slide 18: Government Receivables
Remaining GOVERNMENT RECEIVABLES Remaining cash inflows P&L events Transaction (AEDm) Q4 2018 2019 Total Other income Sale of Al Raha Beach Land ¹ - 95 95 - Infrastructure recoverables ² 362 536 898 293³ 362 631 993 293 ¹ Al Raha Beach land plot handed over in Q3 2016 with a payment plan structure ²
Slide 19: Operating Assets
Retail Residential Commercial Hospitality Adjacent OPERATING 440,000 sqm GLA 5,100 units 308,000 sqm GLA 2,900 keys Consolidating assets: Consolidating assets: Consolidating assets: Consolidating assets: Key consolidating assets • Yas Mall • al rayanna • Aldar HQ • Yas Hotel (previous and businesses
Slide 20: Investment Plan
COMPLETED IN Q3 2017 Repton School Type: Commercial Location: Abu Dhabi Island GLA: 20,000 sqm ACQUIRED: Q2 2018 Asset acquisition Type: Various Location: Saadiyat Island and other INVESTMENT ACQUIRED IN Q4 2015 Daman House Type: Commercial office building Location: Abu Dhabi Island GLA: 23,000 sqm
Slide 21: Development Pipeline: Upcoming Projects
EXPECTED COMPLETION: 2020 DESIGN STAGE DESIGN STAGE Water’s Edge Shams Marina Yas Mall Hotel Type: Residential Type: Mixed-use Type: Hospitality Location: Yas Island Location: Reem Island Location: Yas Island Units: c.800 Overview: Hotel, long-stay apartments and Keys: 349 residential EXPECTED COMPL
Slide 22: Contact Us
CONTACT US For any further enquiries please contact: Chris Wilson Mohamed ALMaazmi Head of Investor Relations Investor Relations + 971 2 810 5624 + 971 2 810 5866 cwilson@aldar.com malmaazmi@aldar.com Aldar Q3 2018 Results 21