Dar Global Plc · LSE:DAR
Dar Global — FY2023 Earnings Presentation
31 slides from Dar Global's earnings presentation, 2024
Slide 1: Invest in Luxury
AIDA, OMAN, OCEAN VIEW VILLAS Invest in Luxury RESULTS PRESENTATION FOR THE YEAR ENDED 31 DECEMBER 2023
Slide 2: Presenter
Presenter Our goal for Dar Global is clear: to be the first real estate company that addresses the needs of a new society of global citizens, with a luxury offering that is both great to live in and great as an investment. Ziad El Chaar Chief Executive Officer Dar Global | Results Presentation for t
Slide 3: 2023: A Landmark Year for Dar Global
2023: A Landmark Year for Dar Global Successfully Launched Secured c. USD Crossed Established listed on the 6 projects across 204 million term USD 1 billion 4 new sales London Stock 4 countries loan from ENBD of sales offices Exchange Announced Successfully Announced 12 active projects Solid full-ye
Slide 4: Financial Highlights
Financial Highlights EXCEPTIONAL REVENUE GROWTH HEALTHY EBITDA MARGIN USD 361M revenue1 23% EBITDA margin +351% YEAR-ON-YEAR GROWTH USD 83M EBITDA 12x year-on-year growth SIGNIFICANT INCREASE A STRONG BALANCE SHEET WITH LIQUIDITY IN PROFIT TO PURSUE OPPORTUNISTIC GROWTH USD 83.2M USD 238.5M Cash pos
Slide 5: What is Dar Global today?
W RESIDENCES, DUBAI, POOL VIEW What is Dar Global today?
Slide 6: 12 Projects 9 Cities 8 Offices
12 Projects Dubai 9 Cities 8 Offices DG1 W RESIDENCES DA VINCI TOWER URBAN OASIS TOWER Our Project Cities Doha Spain Qatar Oman London Manilva Dubai Benahavís Muscat Casares Maldives Sarajevo TIERRA VIVA MAREA LES VAGUES AIDA London Bosnia Our Office Locations London Doha Marbella Dubai Jeddah Musca
Slide 7: A unique offering for Global Citizens
A unique offering for Global Citizens USD 5.9B TOTAL GDV Focus on Target affluent Capital Luxury brand > Cross-border real segment of light model partnerships 12 global estate investments global citizens > Rapid scaling > Differentiated projects > Second and and enhanced product offering vacation ho
Slide 8: Significant progress made since listing in February 2023
Significant progress made since listing in February 2023 LISTING ON Launched LAUNCHED Launched Exploratory Launched THE LONDON hospitality TIERRA VIVA, Marea, Interiors operations in the first of its STOCK partnership with SPAIN IN by Missoni Greece, Ras Al kind Utopia EXCHANGE Dolce & Gabbana PARTN
Slide 9: Operating Review
LES VAGUES BY ELIE SAAB, OMAN, PROMENADE Operating Review
Slide 10: Business Performance
Business Performance Projects under development Total sales value = USD 1 billion across London, Dubai, Muscat, (46% of total launched GDV1) Doha, and Marbella in under 3 years of operation Strong customer NAV = USD 465 million2 USD 2.2 billion of demand with (65% higher than USD 281 million GDV1 la
Slide 11: Almost 50% of launched GDV sold
Almost 50% of launched GDV sold UAE ROW* Number of projects 4 8 Total GDV (USD M) 1,033 4,877 Months since launch (avg.) 17 7 Launched GDV (USD M) 1,033 1,181 Launched GDV sold (%) 73% 23% No. of units launched 1,158 920 No. of units sold 1,019 479 * Rest of the world DA VINCI TOWER BY PAGANI, DUBAI
Slide 12: Our Projects in Dubai
Urban Oasis Tower Da Vinci Tower Our Projects in Dubai Launched Q4 2021 Launched Q4 2022 467 85 No. of units No. of units Status Status Pre-completion Undergoing interior refurbishment Scheduled completion Scheduled March 2024 completion December 2024 W Residences DG1 Launched Launched Q1 2022 Q1 20
Slide 13: Our Project in Oman
Our AIDA Project in Oman Launched Q1 2023 616 No. of units in Phase 1 Phase 1 Status Pre-sales Phase 1 Scheduled completion March 2027 Dar Global | Results Presentation for the Year Ended 31 December 2023 12
Slide 14: Our Projects in Spain
Our Tierra Viva Marea Projects in Spain Launched Status Launched Status Q2 2023 Pre-sales Q3 2023 Pre-sales 53 Scheduled completion 64 Scheduled completion No. of villas December 2026 No. of units June 2027 Dar Global | Results Presentation for the Year Ended 31 December 2023 13
Slide 15: Our Project in Qatar
Our Les Vagues Project in Qatar Launched Q4 2022 160/303 Launched units/ Total no. of units Status Under construction Scheduled completion Q1 2027 Dar Global | Results Presentation for the Year Ended 31 December 2023 14
Slide 16: Our Projects in London
Old Park Lane Oh So Close Our Projects in London Launched Launched Q4 2022 Q2 2023 1 17 No. of units No. of units Status Status Pre-completion Under construction Scheduled completion Scheduled Q1 2024 completion June 2024 8mins-to-Central Launched Q2 2023 9 No. of units Status Under construction Sch
Slide 17: Unlocking Saudi Vision 2030 Opportunities
Unlocking “” Saudi Vision 2030 New Saudi law to set off region’s next freehold boom Zawya LSEG Opportunities “” New law allowing foreigners to 1. 2. 3. buy all kind of properties in KSA soon: Top official Aligning with the Expected Unlocks Arab News Kingdom’s ambitious impact opportunities transform
Slide 18: Outlook
Outlook Based on anticipated progress We will target a similar We continue to explore across our existing portfolio of sales rate and EBITDA fresh opportunities across projects and current market margin to what we international markets. conditions. delivered in 2023. We are targeting to deliver at S
Slide 19: Project Spotlight Utopia Residences
Project Spotlight Utopia Residences World’s first tower furnished by Pagani Arte Collection. A masterpiece of stainless steel, carbon fibers, lush leather, and kinetic chandeliers. Located in the heart of Dubai with views of Burj Khalifa, and easily accessible from Business Bay. Dar Global | Results
Slide 20: Financial Review
AIDA, OMAN, HANGING SUITES HOTEL Financial Review
Slide 21: Profit & Loss Statement
Profit & Loss Financial summary 2023 400 360.6 Statement 350 300 USD in millions 250 200 150 (214.1) Revenue for the year increased by 351% to 1.4 2.0 84.7 100 80.0 3.1 USD 360.6 million on account of revenue (68.1) (0.2) 50 recognition in Urban Oasis Tower, Da Vinci Tower and W Residences 0 Revenue
Slide 22: Balance Sheet
Balance Sheet Summarised financial position Net asset value increased to Amounts in USD million 2023 2022 Change USD 465.4 million mainly on account of: Cash and Cash Equivalents 228.5 112.6 +115.9 + Profit of USD 83.2 million Escrow retentions 10.0 5.9 +4.1 + Shareholder funding of USD 20.5 million
Slide 23: Guidance for FY 2024
Guidance for FY 2024 Maintain sales rate in-line Grow to become major with FY 2023 player in the GCC, Launched inventory available c. USD 1.2 billion one of the key destinations for Total inventory available c. USD 4.9 billion global investors Focus on margins and cost Deploy available liquidity con
Slide 24: Summary
MAREA, COSTA DEL SOL, SPAIN Summary
Slide 25: Summary
AIDA, OMAN, THE GREAT ESCAPE Summary Solid FY 2023 financial performance Five key projects to be completed in 2024 A strong balance sheet › Platform for opportunistic growth USD 700M of revenue across FY 24 and FY25 Capture growing international demand for real estate in the GCC Dar Global | Results
Slide 26: Appendix
TIERRA VIVA, SPAIN, PAINITE VILLAS Appendix
Slide 27: Our Legacy
Our Legacy We are building on the legacy of Dar Al Arkan, the leading listed real estate company in Saudi Arabia. 30 Years of Experience Dar Global is the international residential development business of Dar Al Arkan, its major shareholder, and has grown to a portfolio of 12 projects with an estima
Slide 28: Our Offices
Our Offices London, UK Dubai, UAE Muscat, Oman Doha, Qatar 50 Hans Crescent, Jumeirah Emirates Towers Royal Opera House Muscat Malibu Building, Knightsbridge, London, 30th Floor, Sheikh Zayed Road. Shatti Al Qurum, Muscat, Lusail Entertainment City, SW1X 0NA, United Kingdom PO Box 2523, Dubai, Sult
Slide 29: darglobal.co.uk
OARGLOBAL darglobal.co.uk
Slide 30: Disclaimer
Disclaimer THIS PRESENTATION AND ITS CONTENTS ARE STRICTLY CONFIDENTIAL AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN VIOLATION OF THE RELEVAN
Slide 31: Disclaimer
Disclaimer The Information contains statistics, data and other information relating to markets, market sizes, market shares, market positions and other industry data pertaining to the Company’s business and markets. Unless otherwise indicated, such information is based on the Company’s analysis of m