Slide 1: Investor Presentation FY 2011
Confidential Investor Presentation FY 2011 Depa Limited Dubai, UAE
Slide 2: Disclaimer
Disclaimer This material contains certain statements that are “forward-looking” forward looking including management’s expectations and analysis. These statements are based on management’s current expectations and are naturally subject to uncertainty and g in circumstances. Actual results mayy varyy
Slide 3: Contents
Contents ▶ Depa Introduction ▶ 2011 Overview O i ▶ Backlog ▶ Financials ▶ Outlook 3
Slide 4: Depa Introduction
Depa Introduction bets | Same
Slide 5: Complete And Diversified Interior Applications
Complete And Diversified Interior Applications Depa is focused on building top-quality interiors for a wide range of market segments Luxury hotels Apartment bldgs Airports/Metros Offices Malls & Shops Yachts Theming/Museums Depa Depa Lindner Depa Deco Deco Vedder & Pino Meroni Depa Depa Completed pr
Slide 6: Deco: A Leader In Retail Fit-out
Deco: A Leader In Retail Fit-out Over 373 stores from high end to high street in the last six years Marks & Spencer Potterybarn Valentino Louis Vuitton 6
Slide 7: Lindner Depa: Capturing Infrastructure Growth
Lindner Depa: Capturing Infrastructure Growth 51% JV with European specialist Lindner on fit-out of infrastructure projects Dubai International Airport Dubai Metro, Lindner Depa 7
Slide 8: Depa: Capturing Health Care Growth
Depa: Capturing Health Care Growth Involved in a growing market Qatar Robotic Surgery Center Cleveland Clinic, Abu Dhabi Dubai Mall Medical Center 8
Slide 9: Vedder And Pino Meroni: Leader In Luxury Yacht Fit-Out
Vedder And Pino Meroni: Leader In Luxury Yacht Fit-Out Over 55 yachts fit out over the last six years – a testament to our workmanship Project Eclipse – World’s most expensive yacht 9
Slide 10: 2011 Overview
2011 Overview 10
Slide 11: 2011 Overview
2011 Overview Positive net profit after difficult 2010; record backlog Revenue • 2011 was a stabilization year for the Company’s revenues • AED 1,736 million of revenues as compare with AED 1,814 million in 2010 • 2011 revenues were impacted by delay in project starts following Arab Spring Net Profi
Slide 12: 2011 Overview
2011 Overview Maintain net cash position of AED 70 million Cash Generation (AED Million) Cash 174 Generation 100 • Cash flow from operations was positive, with AED 38 million in positive cash 47 38 generated in 2011 • Positive net cash position of AED 70 million ‐43 FY07 FY08 FY09 FY10 FY11 Growth M
Slide 13: Backlog
Backlog g 13
Slide 14: Backlog
Backlog Backlog diversification has increased, with significant growth in GCC market • All projects are in the advanced stage of construction . • Depa continues to have healthy contracted backlog which stood at almost AED 4 billion. billion • Backlog consists of 283 projects where we are alreadyy wo
Slide 15: Backlog: Geographical Distribution
Backlog: Geographical Distribution Increased international backlog exposure and reduced regional exposure Estimated Backlog <AED 100 M AED 100 - 150 M Bahrain Qatar >AED 150 M DDS: Thailand Malaysia Parker: China Korea Zurich London Miami Singapore EUROPE & AFRICA GCC & LEVANT ASIA Blue Diamond Moro
Slide 16: Backlog Geographical Distribution
Backlog Geographical Distribution Significant reduction in UAE • Efforts to diversity are successful, illustrated by UAE representing less than 6% of backlog. • GCC portion of backlog grows significantly due to new contract wins. 16
Slide 17: Backlog: Geographical Distribution
Backlog: Geographical Distribution GCC backlog growing GCC Backlog Asia Backlog 17
Slide 18: Backlog: Sector Distribution
Backlog: Sector Distribution Hospitality remains a key market sector, but infrastructure takes a lead Sector Backlog 18
Slide 19: Financial
Financial 19
Slide 20: Financials: Overview
Financials: Overview Balance Sheet remains strong despite difficult year Ratio Analysis Actual Actual Actual AED Million FY 2009 FY 2010 FY 2011 Revenue 2,689 1,814 1,736 Contract Profit 430 114 289 C t tP Contract Profit fit M Margin i 16% 6% 17% Receivables Aging G&A (192) (279) (167) % of Revenue
Slide 21: Financials: Shareholder Structure
Financials: Shareholder Structure Institutional Investors accounts for approximately 58% of total shareholdings FY 2011 FY 2011 Geographical Split I t Type Investor T Source: Deutsche Bank 21
Slide 22: Financial: Selected Balance Sheet Figure
Financial: Selected Balance Sheet Figure Actual Actual Actual AED Million FY 2009 FY 2010 FY 2011 Cash in Hand 543 450 332 Unbilled Revenue 910 474 642 Total Current Assets 2,272 1,801 1,825 Total Assets 3 372 3,372 3 038 3,038 3 030 3,030 Total Bank Debt 220 331 262 Total Current Liabilities 1,261
Slide 23: Financial: Selected Cash Figures
Financial: Selected Cash Figures Actual Actual Actual AED Million FY 2009 FY 2010 FY 2011 Net Cash (used in) / generated from Operating Activities 100 174 38 N t Cash Net C h ((used d iin)) / generated t d ffrom IInvesting ti A Activities ti iti (132) (206) (53) Net Cash (used in) / generated from F
Slide 24: Financial: Geographic Segmentation Trend (FY 2010 – FY2011)
Financial: Geographic Segmentation Trend (FY 2010 – FY2011) FY 2010 R Revenue 310 17% 604 33% Regional Office FY 2011 FY 2010 304 17% Dubai 599 604 596 33% Abu Dhabi 340 596 Asia 440 304 FY 2011 Europe 357 310 Total 1,736 1,814 357 21% 599 AED Million 34% 440 25% 340 20% Dubai Abu Dhabi Asia Europe
Slide 25: Financials: Activity Segmentation Trend
Financials: Activity Segmentation Trend (FY 2010 – FY 2010) FY 2010 21 1% Revenue 424 23% 1,369 Activity Segment FY 2011 FY 2010 76% Contracting 1,208 1,369 Manufacturing 504 424 Procurement 24 21 FY 2011 Total 1,736 1,814 24 1% 504 AED Million 29% 1,208 70% Contracting Manufacturing Procurement 25
Slide 26: Outlook
Outlook 26
Slide 27: Outlook
Outlook • Strong growth prospects from GCC markets • Infrastructure and medical center projects beginning to come into backlog • Asian markets also providing growth opportunities 27