Salhia Real Estate Co. K.s.c. · KSE:SRE
Salhia Real Estate Co. K.s.c — Salhia Real Estate — Q1 2024 Earnings Presentation
35 slides from Salhia Real Estate Co. K.s.c's earnings presentation, May 16, 2024
Slide 1: Boursa Kuwait disclosure letter on analyst conference
Date: 16/05/2024 Ref. 1b/07/2024 To: Boursa Kuwait Co. Dear Sirs, Subject: __Analyst/Investors Conference Meeting for the first quarter of the year 2024 With reference to the above subject, and as per requirements stipulated in article No. (7- 8) “Listed company obligations” of Boursa Kuwait rule bo
Slide 2: Disclosure of Material Information Form
4g Yale, i ie Clady! pigai Disclosure of Material Information Form Name of the listed Company 16 May 2024 | Salhia Real Estate Co. (K.P.S.C) trial Information We would like to inform you that Salhia Real Estate Company has conducted the / Analyst/Investors Conference for the first | quarter of the y
Slide 3: Q1-2024 Results Presentation
SA L HIA RE A L E S T ATE CO. Q1-2024 Results Presentation Period Ended 31-March-24
Slide 4: Disclaimer / Disclosure / Forward Statement
Disclaimer / Disclosure / Forward Statement 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 prov
Slide 5: Content
4 Performance Highlights 5 Local Investments CONTENT 16 Foreign Investments Q1 - 2024 21 Financial Performance 28 Appendix 3
Slide 6: Performance Highlights
Group Perfomance Performance Highlights KD 11.16 M KD 8.18 M KD 2.87 M + 14% + 31% - 24% Revenue EBITDA Net Profit Q1-2024 Business Highlights • Decrease in Net Profit due to depreciation & Finance cost Increase • Continued commitment to strategy execution. • Efficiency in under development project
Slide 7: Local Investments
LOCAL INVESTMENT’S
Slide 8: Local Investment
LOCAL INVESTMENT SALHIA ARRAYA ASSIMA • Arraya Commercial Centre • Assima Complex • Salhia Complex • Arraya Plaza • Assima Tower • Sahab Tower • Arraya Tower • Marriot Executive Apartments • Salhia Plaza • Marriot Courtyard Hotel (MEA) • JW Marriot Hotel • Convention Hall Salhia International • Anwa
Slide 9: Salhia
General Knowledge 92,375 56,775 100% 98% SQM SQM Built Up Gross Leasable Q1 -24 Office Q1 -24 Store Area Area Occupancy Occupancy Salhia Complex • 1st luxury mall in Kuwait since 1978. • 26,857 square meters of space for commercial offices. • Home to several high-end brands, and one of the region’s
Slide 10: JW Marriott
General Knowledge 33,323 2 SQM 181 2024 Built Up Area Number of Expected Number of Rooms Opening Restaurants JW Marriot • JW Marriott is in the center of Kuwait City’s business and financial district. • Connected to Salhia Complex & near well-known retail centers. JW • Targeted Opening late 2024 • O
Slide 11: Arraya
General Knowledge 97,208 53,579 98% 90% SQM SQM Built Up Gross Leasable Q1 -24 Tower Q1 -24 Mall Area Area Occupancy Occupancy Arraya Centre • Situated in the heart of Kuwait City • Housing a variety of shops, high-end eateries and casual hangouts. • Over 1,400 Parking spaces serves the Centre and t
Slide 12: Marriott Courtyard
General Knowledge 29,008 264 22 3 SQM Built Up Area Number of Number of Number of Rooms Floors Restaurants Marriot Courtyard • Connected to Arraya Centre and is in the center of the city. • 6 Fully equipped banquet halls, a business center and a state-of- the art swimming pool and fitness center. •
Slide 13: Assima Mall
General Knowledge 180,500 71,924 98% 13 SQM SQM Built Up Gross Leasable Q1 -24 Anchor Area Area Occupancy Units Assima Mall • 20,000 SQM across four basements, a ground floor, and six floors of shops, restaurants, entertainment venues, etc. • Strong Demand for space from known brands. ASSIMA • Large
Slide 14: Assima Tower
General Knowledge 99,500 59,524 20% 51 SQM SQM Built Up Gross Leasable Q1 -24 Number of Area Area Occupancy Floors Assima Tower • Leasing has begun with a 20% occupancy as of Q1 2024. • Project Completion January 2024. • Connected to Assima mall and a multi-story car ASSIMA park to facilitate both v
Slide 15: MEA
General Knowledge 25,100 164 11 1 SQM Built Up Area Number of Number of Number of Rooms Floors Restaurants Marriot Executive Apartments • Operated by Marriot International • First Marriot Executive Apartments in Kuwait • Available for short and long stay residency. • Fully equipped fitness center, d
Slide 16: SIEC
General Knowledge 5,097 15 KD SQM 105,314 Built Up Number of Q1 -24 Area Attractions Revenue Salhia International Entertainment Center • Exclusive National Geographic licensee. • Kuwait’s first National Geographic entertainment center. • For children aged 4 to 14. SIEC • Cutting edge VR & 4D technol
Slide 17: Anwar Alsabah Property
ANWAR ALSABAH PROPERTY Acquired Land in Q1 - 2024 A neighboring land to Salhia Commercial Complex divided into 4 plots. 9,284 KD 70 M 4 SQM Plot Land Number of Area Purchased Plot’s 15
Slide 18: Foreign Investments
FOREIGN INVESTMENT’S
Slide 19: Foreign Investment
FOREIGN INVESTMENT BEORMA QUARTER, LOLWORTH DEVELOPMENT BIRMINGHAM LIMITED (LDL) (S a l hia In t e r n a t ion a l B ir m in g ha m Lim it e d ) • Phase 1 – Adagio Hotel & Prince’s Trust • Fully owned subsidiary – Land Option • Phase 2 – Residential Apartment & Office Tower 17
Slide 20: Beorma Quarter
General Knowledge 8,268 35,000 124 2026 M2 M2 Plot Area Phase 2 – Phase 2 Expected Number of Built Up Area Completion Apartments Beorma Quarter Project • A major regeneration project comprised of a mixed use of office, hotel, and residential apartments. • Located in the center of Birmingham and adja
Slide 21: Lolworth Development
General Knowledge >1M SQM UK 1992 Land Area Location Established Lolworth Developments Ltd • Lolworth Development– An estimated land area of over 1 million square meters (land option), northwest of Cambridge City Center. • A prime strategic location for developing a leading LOLWORTH technology cente
Slide 22: Est. Projects Timeline Under Development
EST. PROJECTS TIMELINE UNDER DEVELOPMENT 2024 - 2026 Q1 - 2024 2024 Q3 - 2026 Assima Tower JW Marriot Beorma Tower & (Kuwait) (Kuwait) Residency (Birmingham, UK) 20 *Projects’ timings could change from the provided estimation.
Slide 23: Q1-2024 Financial Highlights
SA L HIA RE A L E S T ATE CO. Q1-2024 FINANCIAL HIGHLIGHTS 31-March-24 21
Slide 24: Profitability Indicators
Profitability Indicators Net Profit KD Net Profit Margin % EBITDA KD KD 3.76 M 38 % KD 8.18 M KD 2.87 M 26 % KD 6.25 M -24 % - 33 % + 31 % 22
Slide 25: Profitability Indicators (Continued)
Profitability Indicators (Continued) Return on Assets % Return on Equity % 2.26 % 0.88 % 1.64 % 0.55 % -38 % -27 % 23
Slide 26: Performance Ratios - The Group
Performance Ratios - The Group Revenue KD Operating Expense KD Gross Profit Margin % KD 11.16 M 2.88 M 75 % KD 2.75 M 71 % 9.80 M + 14 % -5% +6% 24
Slide 27: Performance Ratios - Real Estate
Performance Ratios - Real Estate Revenue KD Operating Expense KD Gross Profit Margin % KD 9.63 M 79 % KD 2.32 M 73 % KD 8.49 M KD 2.03 M + 13 % - 12.5 % +8% 25
Slide 28: Performance Ratios - Hospitality
Performance Ratios - Hospitality Revenue KD Operating Expense KD Gross Profit Margin % KD 714,598 57 % 53 % KD 1.52 M KD 564,076 KD 1.31 M 3M-23 3M-24 + 16 % + 27 % -7 % 26
Slide 29: Debt Structure
Debt Structure Debt to Equity % Debt to Asset % 2.0 67 % 61 % 1.57 + 27 % +9% 27
Slide 30: Appendix
SA L HIA RE A L E S T ATE CO. APPENDIX 28
Slide 31: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position 29
Slide 32: Consolidated Statement of Financial Position (Cont'd)
Consolidated Statement of Financial Position (Cont’d) 30
Slide 33: Consolidated Statement of Income
Consolidated Statement of Income 31
Slide 34: Q&A
Slide 35: Thank You
THANK YOU ir@salhia.com www.salhia.com +965 22996097 – 22996081 – 22996346