Enbd REIT (Ceic) PLC · NASDAQDUBAI:ENBDREIT
Enbd REIT (Ceic) — Q3 FY2018 Earnings Presentation
23 slides from Enbd REIT (Ceic)'s earnings presentation, Dec 31, 2017
Slide 1: NAV Quarterly Update Conference Call
NAV Quarterly Update Conference Call as at 31st December 2017 www.enbdreit.com
Slide 2: Presenting team
Presenting team Anthony Taylor Asif Siddique Head of Real Estate Chief Financial Officer ENBD REIT ENBD REIT www.enbdreit.com ENBD REIT Investor Presentation as at 31st December 2017 2
Slide 3: Snapshot
Snapshot As at 31st December 2017 Offices: 63% Al Thuraya 1 Binghatti Terraces Uninest Portfolio property value Properties Residential: 21% USD 460m 11 Alternative: 16% Burj Daman Arabian Oryx House South View School Occupancy WAULT Loan-to-Value* Gross yield^ 87% 3.5 years 36% 8.4% DHCC 49 Remraam
Slide 4: Post-listing performance
Post-listing performance Annualised Property Annualised NAV per Dividend dividend % Date portfolio NAV* dividend % Share price share* per share on Share value on NAV* Price 31st Dec USD 460m USD 300m USD 1.18 - - - USD 0.99 2017 30th Sep USD 353m USD 295m USD 1.16 - - - USD 1.00 2017 30th Jun USD 35
Slide 5: NAV highlights for the quarter
NAV highlights for the quarter 31st December 2017 Property portfolio value USD 460m Cash USD 15m Gross Asset Value (GAV) USD 468m NAV per share USD 1.18 Net Asset Value (NAV) USD 300m Loan-to-Value (LTV) 36% Gross yield on NAV* 12.12% Net yield on NAV 6.7% Number of shares in issue 254,401,340 *incl
Slide 6: Portfolio
ENBD Managed by Emirates NBD Asset Manager
Slide 7: Footprint
Footprint www.enbdreit.com ENBD REIT Investor Presentation as at 31st December 2017 7
Slide 8: 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 (AED) 333m
Slide 9: 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 (AED) 144m 139m 81m 364m 1,689m % of portfolio value 8% 8% 5% 21% 100%
Slide 10: 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 (AED) 126m 90m 55m 271m 1,689m % of portfolio value 8% 5% 3% 16% 100% Net leasable are
Slide 11: Key tenants
Key tenants www.enbdreit.com ENBD REIT Investor Presentation as at 31st December 2017 11
Slide 12: Recent acquisition: Souq Extra
Recent acquisition Souq Extra (December 2017) Property highlights • Souq Extra Phase 1 is an existing 36,027-sqft community retail centre, well situated in Dubai Silicon Oasis. • 100% leased to 42 retail tenants including Carrefour Market, KFC, McDonalds and Starbucks. Transaction highlights • Phase
Slide 13: Recent acquisition: The Edge
Recent acquisition The Edge (October 2017) Property highlights • The Edge is a premier 92,000-sqft office building, home to global tech outfit Oracle, social media giant Snapchat, and American education publisher McGraw Hill, acquired on 5th October 2017 • As a prime grade ‘A’ property, tenants enjo
Slide 14: Financials
ENBD Managed by Emirates NBD Asset Management
Slide 15: Funds from operations (FFO)
Funds from operations (FFO) as at 31st December 2017* 30,000,000 28,045,711 25,000,000 23,943,794 20,000,000 Jun-17 USD Sep-17 15,000,000 Dec-17 7,389,832 YTD 7,288,262 10,119,282 10,536,597 10,000,000 9,113,721 7,541,811 101,570 5,000,000 4,101,917 2,577,471 1,422,876 0 Gross income Unrealised gain
Slide 16: ENBD REIT's expenses
ENBD REIT’s expenses as at 31st December 2017* USD 5,765,675 12,608,995 Operating expenses Fund expenses Margin = 45% Finance cost Net profit 4,738,188 4,932,854 * YTD period 1 April – 31st December 2017. See Appendix 2 for Statement of Comprehensive Income www.enbdreit.com ENBD REIT Investor Presen
Slide 17: Capital structure
Capital structure as at 31st December 2017 Finance terms • Profit only 36% • Matures 2021 • 3-month EIBOR + 2.5% • Repayment: • 10% end of year 4 64% • 90% end of year 5 • Available drawdown remaining: Equity Debt USD22m • Fully drawn, LTV would be approx. 40% Equity Debt LTV USD 300m USD 168m 36% w
Slide 18: Appendix
ENBD Managed by Emirates NBD Asset Management
Slide 19: Statement of financial position (USD)
Statement of financial position (USD) Appendix 1 As at 31 Dec 2017 As at 30 Sep 2017 As at 30 Jun 2017 Investment properties 459,853,526 353,362,919 351,549,142 Cash and cash equivalent 15,178,076 63,025,827 71,241,221 Trade and other receivables 2,970,781 3,437,661 1,618,282 Total current assets 18
Slide 20: Statement of comprehensive income (USD)
Statement of comprehensive income (USD) Appendix 2 YTD Quarter Quarter Quarter ending Dec 2017 ending Dec 2017 ending Sep 2017 ending Jun 2017 Rental income 23,404,949 9,084,535 7,076,843 7,243, 571 Profit share 538,847 29,187 211,419 298,241 Net unrealised gain 4,101,918 1,422,876 101,571 2,577,471
Slide 21: Contact us
Contact us General Enquiries ENBDREITIR@emiratesnbd.com +971 (0)4 509 3010 Investor Relations Julia Ward-Osseiran juliao@emiratesnbd.com +971 (0)4 509 3016 Company Secretary Jean Kenny Labutte jeank@apexfunddubai.ae +971 (0)4 428 9221 Tenants/Leasing Ben Coombe benjaminc@emiratesnbd.com +971 (0)4 50
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