Enbd Reit (ceic) Plc · NASDAQDUBAI:ENBDREIT
Enbd Reit (ceic) — Investor Presentation (September 2022)
23 slides from Enbd Reit (ceic)'s investor presentation, Sep 30, 2022
Slide 1: ENBD REIT
ENBD Managed by Emirates NBD Asset Management ENBD Managed by Emirates NBD Asset Management
Slide 2: Quarterly Update 30th September 2022
Quarterly Update 30th September 2022 www.enbdreit.com
Slide 3: Presenting team
Presenting team Anthony Taylor Asif Siddique Melanie Fernandes Head of Real Estate Chief Financial Officer Senior Portfolio Manager ENBD REIT ENBD REIT ENBD REIT 3
Slide 4: Snapshot: 30th September 2022
Snapshot: 30th September 2022 NAV: Offices: 68% Al Thuraya 1 Binghatti Terraces Uninest Portfolio property USD 172m value Residential: 14% USD 363m NAV per share: USD 0.69 Alternative: 18% Burj Daman Arabian Oryx House South View School WAULT: 4.13 years Occupancy Properties LTV* Office: 2.25 years
Slide 5: Payments to shareholders
Payments to shareholders FY ending 31st March 2023 USD USD per share % of NAV % of share price Interim dividend (recommended to BOD) 4,500,000 0.0180 2.61% 4.38% FY ending 31st March 2022 USD USD per share % of NAV % of share price Final dividend (paid 29th July 2022) 5,000,000 0.0200 2.99% 4.65% In
Slide 6: Capital structure: 30th September 2022
Capital structure: 30th September 2022 Finance terms: • Emirates NBD PJSC and Commercial Bank of Dubai: 3month LIBOR + 2% • 40% GBP/USD cross currency profit rate SWAP • Facility start date: 7th December 2021 • Maturity date: 6th December 2026 Equity USD 172m 46% Debt USD 200m 54% LTV 54% Debt Equit
Slide 7: Portfolio
él eneD REIT 1) F I) Portfolio | Wt |
Slide 8: Occupancy of 84% across the portfolio
Portfolio characteristics – portfolio occupancy Occupancy of 84% across the portfolio 0% 20% 40% 60% 80% 100% The Edge 99% Offices Target Al Thuraya Tower 1 49% 68% 50-60% Burj Daman 80% DHCC49 82% DHCC25 77% Residential Target Binghatti Terraces 98% 14% 15-20% Arabian Oryx House 100% Remraam Reside
Slide 9: ENBD REIT's valuations stabilizing post pandemic
ENBD REIT’s valuations stabilizing post pandemic Overall portfolio valuations 500 450 400 350 300 250 USD m 200 150 100 50 0 31/3/17 30/6/17 30/9/17 31/12/17 31/3/18 30/6/18 30/9/18 31/12/18 31/3/19 30/6/19 30/9/19 31/12/19 31/3/20 30/6/20 30/9/20 31/12/20 31/3/21 30/6/21 30/9/21 31/12/21 31/03/22 3
Slide 10: ENBD REIT's office and alternative portfolios impacted
ENBD REIT’s office and alternative portfolios impacted Office valuations Residential valuations Alternative valuations 80 23 22 -45% -3% 70 -11% -23% 22 +48% 20 -49% 60 -12% 21 50 18 USD m USD m USD m 40 16 20 30 -41% -15% 14 19 20 -25% 12 -49% 18 10 0 10 17 30/6/21 30/9/21 31/12/21 31/03/22 30/6/22
Slide 11: Asset snapshot: Office
Asset snapshot: Office The Edge Al Thuraya 1 Burj Daman DHCC 49 DHCC 25 Dubai Internet Overall Media City DIFC Healthcare City Healthcare City Overall City Office Acquired: Nov Acquired: Jun Acquired: Apr Acquired: Jul Portfolio Acquired: Oct Portfolio 2006 2015 2007 2007 2017 Market value (USD) 70m
Slide 12: Asset snapshot: Residential
Asset snapshot: Residential Binghatti Terraces Arabian Oryx House Remraam Overall Residential Silicon Oasis Barsha Heights Dubailand Overall Portfolio Portfolio Acquired: May 2016 Acquired: Oct 2014 Acquired: Sep 2015 Market value (USD) 20m 21m 12m 54m 363m % of portfolio value 6% 6% 3% 15% 100% Net
Slide 13: Asset snapshot: Alternative
Asset snapshot: Alternative South View Uninest Souq Extra Retail School Overall Dubailand Centre Remraam Alternative Overall Portfolio Acquired: May Acquired: Dec Acquired: Aug Portfolio 2017 2017 2017 Market value (USD) 19m 22m 22m 64m 363m % of portfolio value 5% 6% 6% 18% 100% Net leasable area (
Slide 14: Financials
ENBD Managed by Emirates NBO
Slide 15: Financial summary: 30th September 2022
Financial summary: 30th September 2022 • Gross income is up 0.7% from last year on the back of improved portfolio occupancy in spite of lower rent from the rescheduled lease of Uninest. • Based on market conditions, valuations improved by 1.5% (USD 5.4mn) in this quarter. • Finance cost is up 5.5% f
Slide 16: Financial performance: April 2022 – September 2022
Financial performance: April 2022 – September 2022 20,000,000 15,049,77814,949,133 15,000,000 10,311,624 10,000,000 5,495,757 5,760,390 5,000,000 5,451,104 Apr - Sep - 2022 USD (635,237) (822,069) (5,000,000) Apr - Sep (10,000,000) 2021 (9,554,021) (9,188,742) (15,000,000) (11,590,200) (16,528,521)
Slide 17: Breakdown of total expenses: September 2022
Breakdown of total expenses: September 2022 Apr-Sep Apr-Sep USD Variance 2022 2021 USD Gross Income 15,049,778 14,949,133 100,645 Operating Total Expenses (9,554,021) (9,188,742) (365,279) Fund Expenses, Expenses, (3,040,392) (2,450,103) FFO Net Rental Income 5,495,757 5,760,390 (264,633) (excl. val
Slide 18: Appendix
Appendix
Slide 19: Financial performance - statement of financial position (USD)
Financials Financial performance - statement of financial position (USD) 30th September 2022 30th September 2021 31st March 2022 Investment Properties 362,642,254 345,916,145 356,057,718 IFRS Adjustment and Right of Use Assets 10,528,832 11,459,731 11,087,030 Cash and Cash Equivalent 22,040,019 20,8
Slide 20: Financial performance - statement of comprehensive income (USD)
Financials Financial performance - statement of comprehensive income (USD) 6 Months 6 Months Full year 30th September 2022 30th September 2021 31st March 2022 Rental Income 14,962,279 14,909,512 27,252,477 Profit on Deposits 87,499 39,620 36,793 Total Income 15,049,778 14,949,133 27,289,270 Operatin
Slide 21: Contact us
Contact us General Enquiries & Investor Relations ENBDREITIR@emiratesnbd.com +971 (0)4 509 3010 Company Secretary Aparna Menon aparna.menon@apexgroup.com +971 (0)2 672 6327 Portfolio Related Melanie Fernandes fernandesmm@EmiratesNBD.com +971 (0)4 509 3029 Media Instinctif Partners enbdreitir@instinc
Slide 22: Disclaimer
Disclaimer The information, estimates and opinions (“Information”) expressed herein are made in good faith and are based on sources believed to be reliable, but no representation or warranty, express or implied, is made as to the accuracy, completeness or correctness of the Information. The Informat
Slide 23: Thank you
Thank you www.enbdreit.com
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