Enbd Reit (ceic) Plc · NASDAQDUBAI:ENBDREIT
Enbd Reit (ceic) — Investor Presentation (June 2022)
23 slides from Enbd Reit (ceic)'s investor presentation, Jun 30, 2022
Slide 1: ENBD REIT - Managed by Emirates NBD Asset Management
ENBD Managed by Emirates NBD Asset Management ENBD Managed by Emirates NBD Asset Management
Slide 2: Quarterly Update 30th June 2022
Quarterly Update 30th June 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 June 2022
Snapshot: 30th June 2022 NAV: Offices: 68% Al Thuraya 1 Binghatti Terraces Uninest Portfolio property USD 166m value Residential: 14% USD 357m NAV per share: USD 0.66 Alternative: 18% Burj Daman Arabian Oryx House South View School WAULT: 4.21 years Occupancy Properties LTV* Office: 2.27 years DHCC
Slide 5: Payments to shareholders
Payments to shareholders 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% Interim dividend (paid 28th December 2021) 4,500,000 0.0180 2.74% 4.09% Total to shareholders 9,500,000 0.0380 5.69% 8.84% FY ending 31st M
Slide 6: Capital structure: 30th June 2022
Capital structure: 30th June 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 165m 45% Debt USD 200m 55% LTV 55% Debt Equity 6
Slide 7: Portfolio
él eneD REIT 1) F I) Portfolio | Wt |
Slide 8: Occupancy of 83% across the portfolio
Portfolio characteristics – portfolio occupancy Occupancy of 83% across the portfolio 0% 20% 40% 60% 80% 100% The Edge 99% Offices Target Al Thuraya Tower 1 46% 68% 50-60% Burj Daman 79% DHCC49 78% DHCC25 79% Residential Target Binghatti Terraces 96% 14% 15-20% Arabian Oryx House 99% Remraam Residen
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 70 -8% -4% -23% 22 20 -51% 60 -12% +44% -51% 21 50 18 USD m USD m USD m 40 16 20 -41% 30 -15% 14 19 20 -26% 12 -50% 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 19m 12m 50m 357m % of portfolio value 5% 5% 3% 14% 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 63m 357m % of portfolio value 5% 6% 6% 18% 100% Net leasable area (
Slide 14: Financials
ENBD Managed by Emirates NBO
Slide 15: Financial summary: 30th June 2022
Financial summary: 30th June 2022 • Gross income is up 0.6% from last year • First Valuation gain is recorded since June 2018 • Finance cost is up 6% from last year due to a rising interest rate environment • Operating expenses are up 23% from last year due to the filling up of vacant space and some
Slide 16: Financial performance: April 2022 - June 2022
Financial performance: April 2022– June 2022 10,000,000 7,480,826 8,000,000 7,528,460 6,000,000 3,122,630 3,695,213 4,000,000 3,267,951 2,000,000 750,136 - Apr - Jun 2022 USD (177,553) (2,000,000) (4,000,000) (4,405,830) Apr - Jun (6,000,000) (4,212,875) 2021 (8,000,000) (6,052,633) (10,000,000) (9,
Slide 17: Breakdown of total expenses: June 2022
Breakdown of total expenses: June 2022 Apr-Jun Apr-Jun USD Variance 2022 2021 USD Gross Income 7,528,460 7,480,826 47,634 Total Expenses (4,405,830) (4,212,875) (192,955) Fund Operating Expenses, Expenses, (1,206,588) (1,492,660) FFO Net Rental Income 3,122,630 3,267,951 (145,321) (excl. valuation)
Slide 18: Appendix
Appendix
Slide 19: Financial performance - statement of financial position (USD)
Financials Financial performance - statement of financial position (USD) 30th June 2022 30th June 2021 31st March 2022 Investment Properties 357,293,765 351,157,092 356,057,718 IFRS Adjustment and Right of Use Assets 10,751,582 11,708,436 11,087,030 Cash and Cash Equivalent 25,666,078 25,953,787 19,
Slide 20: Financial performance - statement of comprehensive income (USD)
Financials Financial performance - statement of comprehensive income (USD) 3 Months 3 Months Full year 30th June 2022 30th June 2021 31st March 2022 Rental Income 7,497,368 7,463,673 27,252,477 Profit on Deposits 31,092 17,153 36,793 Total Income 7,528,460 7,480,826 27,289,270 Operating Expenses (1,
Slide 21: Contact us
Contact us General Enquiries & Investor Relations ENBDREITIR@emiratesnbd.com +971 (0)4 509 3010 Company Secretary Jean Kenny Labutte jeank@apexfunddubai.ae +971 (0)4 428 9221 Tenants/Leasing 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