Emirates Reit (ceic) Plc · NASDAQDUBAI:REIT
Emirates Reit (ceic) — Shareholder Meeting (June 2025)
33 slides from Emirates Reit (ceic)'s shareholder meeting presentation, Jun 11, 2025
Slide 1: Annual General Meeting 11 June 2025
ANNUAL GENERAL MEETING 11 JUNE 2025 MANAGED BY
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by Equitativa (Dubai) Limited (“Equitativa”) as the manager of Emirates REIT (CEIC) PLC (“Emirates REIT” or the “REIT”). This presentation is provided for informational purposes only and is not investment advice, a solicitation for an investment or the
Slide 3: Speakers
SPEAKERS AGM AGM 2025 2024 Abdulla Al Hamli Thierry Delvaux Timothy Collier Chairman Senior Executive Officer Chief Financial Officer
Slide 4: Agenda
AGENDA 1 KEY HIGHLIGHTS 4 GOVERNANCE UPDATE 2 MARKET OVERVIEW 5 FINANCIAL HIGHLIGHTS 3 OPERATIONAL HIGHLIGHTS 6 ORDINARY RESOLUTIONS
Slide 5: Key Highlights
KEY HIGHLIGHTS AGM 2024 TOTAL PROPERTY INCOME NET PROPERTY INCOME OPERATING PROFIT USD 133m USD 122m USD 99m +79% +96% +2.2x OCCUPANCY NET ASSET VALUE INVESTMENT PROPERTIES 94% USD 708m USD 932m +8.0 p.p. +42% +0.9% USD numbers rounded to the nearest million Growth : Year on year, 31 Dec 2024 vs 31
Slide 6: Market Overview
tee Emirates REIT MARKET OVERVIEW MANAGED BY EQUITATIVA
Slide 7: Market Overview: Economy and Office
AGM MARKET 2024 OVERVIEW ECONOMY OFFICE GDP grew 3.7% in 2024. Supply tight in 2024, with 650,000 sq.ft. delivered, mostly pre-leased. Tourism, transportation, financial services and construction and real estate 1.66M sq.ft. of deliveries expected in 2025, but demand will still outpace supply, secto
Slide 8: Market Overview: Retail and Education
AGM OVERVIEW MARKET 2024 RETAIL EDUCATION Thriving market bolstered by record tourism, strong economy and growing Dubai’s private school sector growing with 227 schools serving 185+ nationalities population. and 17 curricula. Retail rents up by nearly 4% in 2024 due to supply shortage. Student enrol
Slide 9: Operational Highlights
OPERATIONAL HIGHLIGHTS MANAGED BY PAGE 9
Slide 10: Operational Highlights
OPERATIONAL HIGHLIGHTS AGM 2024 As at 31 December 2024 OCCUPANCY +8.0 p.p. GROSS INCOME (USD) +6.5% OPERATING COSTS (USD) -6.3% 100% 94% 100 14 86% 90% 12.4m* 12.3m 12.0m* 85% 80.8m* 11.5m 79.2m** 12 80% 80 72.0m* 74.4m 10 60% 60 8 40% 40 6 4 20% 20 2 0% 0 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 24Q4 0 23Q2 2
Slide 11: Portfolio Performance
PORTFOLIO PERFORMANCE OPERATIONAL HIGHLIGHTS AGM 2024 As at 31 December 2024 OCCUPANCY +8.0 p.p. 2023 2024 100% 97% 94% 91% 90% 89% 80% 76% 60% 40% 20% 15% 0% 3 TS ER 7 L 24 2 RE RK AL 1& S GO SE W NT PA FT NG M TO S DI AS LO CE T FT E DI EN IN IC X N LO IL SS DE FF IO ID BU NE IN O AT TR SI UC BU E
Slide 12: Operating Expenses Management
OPERATING EXPENSES MANAGEMENT OPERATIONAL HIGHLIGHTS AGM 2024 As at 31 December 2024 OCCUPANCY (%) OPERATING EXPENSES (USD/OCCUPIED M2) 100 100 94% 80 85% 86% 80 72% 69% 60 60 92 80 40 40 70 69 20 20 54* 0 0 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 *Excluding assets divested during the year
Slide 13: Governance Update
GOVERNANCE UPDATE MANAGED BY
Slide 14: Timothy Collier
GOVERNANCE UPDATE GOVERNANCE AGM 2024 Timothy Collier Mr. Timothy Collier has joined Equitativa as Chief Financial Officer in May 2025. Timothy Collier is a Chartered Management Accountant from the UK and a Certified Anti-Money Laundering Specialist. With over 30 years of extensive international exp
Slide 15: Financial Highlights
FINANCIAL HIGHLIGHTS MANAGED BY
Slide 16: Income and Earnings - FY 2024
INCOME AND EARNINGS - FY 2024 FINANCIAL HIGHLIGHTS AGM 2024 IN USD M, FOR THE YEAR ENDED FY 2024 FY 2023 VARIANCE - Y-O-Y RENTAL,FEE & OTHER INCOME 79.2 74.4 +6.5% GAIN ON DISPOSAL OF INVESTMENT PROPERTY 54.0 - +100% TOTAL PROPERTY INCOME 133.2 74.4 +79% PROPERTY OPERATING EXPENSES (11.5) (12.3) -6.
Slide 17: Dividend Distribution Phase 1: Divestment and De-leveraging
DIVIDEND DISTRIBUTION FINANCIAL HIGHLIGHTS AGM 2024 PHASE 1: DIVESTMENT AND DE-LEVERAGING IN USD M, DURING THE YEAR FY 2024 PROPOSED DIVIDEND - FY 2024 NET DIVESTMENT PROCEEDS 209.0 Significant net proceeds realised from divestment and cash flows to: SUKUK REDEMPTION (124.3) 88.1 (1) 88.3 (3) 22.2 O
Slide 18: Dividend Distribution Phase 2 - Re-financing
DIVIDEND DISTRIBUTION FINANCIAL HIGHLIGHTS AGM 2024 PHASE 2 - RE-FINANCING ANNUALISED USD M PROPOSED DIVIDEND - FY 2024 88.3by(3) Dividends are planned, driven much lower finance costs after we refinanced on ANNUALISED ISLAMIC FINANCING SAVING +28 246.2 (4) 88.1 (1)financing market optimized terms.
Slide 19: Dividend Distribution - Going Forward
DIVIDEND DISTRIBUTION - GOING FORWARD FINANCIAL HIGHLIGHTS AGM 2024 INCOME (USD M) +20% PROPOSED DIVIDEND - GOING FORWARD 88.3 (3) 85 Strategy phases combined with improved operational performance translates 246.2 to more(4)cash 80 available in 88.1 2025(1) 22.2 (2) 75 Full year impact of these savi
Slide 20: Income and Earnings - FY 2024
INCOME AND EARNINGS - FY 2024 FINANCIAL HIGHLIGHTS AGM 2024 NET PROPERTY INCOME +96% OPERATING PROFIT +2.2x NET FINANCE COST -0.5% 62.1m 121.7m 44.0m 98.8m 49.8m 49.5m FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 All figures mentioned above are in USD rounded off to the nearest million, unless me
Slide 21: Income and Earnings - FY 2024
INCOME AND EARNINGS - FY 2024 FINANCIAL HIGHLIGHTS AGM 2024 OPERATING COST % OF RENTAL, FEE & OTHER INCOME NET FINANCE COST % OF RENTAL, FEE & OTHER INCOME 17% 17% 15% 43% 42% 67% 67% 66% 63% FY 2022 FY 2023 FY 2024 FY 2022 FY 2023 FY 2024
Slide 22: Balance Sheet Overview - FY 2024
BALANCE SHEET OVERVIEW - FY 2024 FINANCIAL HIGHLIGHTS AGM 2024 IN USD M, AS AT FY 2024 FY 2023 VARIANCE AS AT 31 DECEMBER 2024 INVESTMENT PROPERTIES – FAIR VALUE 932.4 923.7 +0.9% 88.1 (1) 88.3 (3) CASH AND CASH EQUIVALENTS 22.2 23.2 -4.4% 22.2 (2) 246.2 (4) TOTAL ASSETS 1,042.7 1,037.0 +0.6% ISLAMI
Slide 23: Ordinary Resolutions
ORDINARY RESOLUTIONS MANAGED BY
Slide 24: Ordinary Resolution 1: Annual Report and Audited Accounts
ORDINARY RESOLUTION 1 SHAREHOLDERS RESOLUTIONS To receive and approve the Annual Report and Audited Accounts For Year Ended 2024 ORDINARY RESOLUTION 1: THAT the annual report and the audited accounts of the Company for the year ended 31 December 2024 together with the director's report and auditor's
Slide 25: Ordinary Resolution 2: Appoint External Auditors
ORDINARY RESOLUTION 2 SHAREHOLDERS RESOLUTIONS To appoint the External Auditors for Financial Year 2025 ORDINARY RESOLUTION 2: THAT the appointment of KPMG LLP as the external auditor of the Company to hold office, until the conclusion of the next Annual General Meeting of the Company, be approved.
Slide 26: Ordinary Resolution 3: Final Dividend
ORDINARY RESOLUTION 3 SHAREHOLDERS RESOLUTIONS To approve the Final Dividend For Year Ended 2024 ORDINARY RESOLUTION 3: THAT the distribution of the Final Dividend of USD 0.02193 per ordinary share, an aggregate of USD 7,000,000 for the financial year ending on 31 December 2024, to be paid in cash o
Slide 27: Ordinary Resolution 4: Interim Dividend Authorization
ORDINARY RESOLUTION 4 SHAREHOLDERS RESOLUTIONS To authorize Interim Dividend 2025 distribution ORDINARY RESOLUTION 4: THAT the REIT Manager be authorised to arrange the payment of interim dividend(s) of the REIT to its shareholders, subject to the REIT having sufficient retained earnings to pay its
Slide 28: Ordinary Resolution 5: Re-appoint Investment Board Members
ORDINARY RESOLUTION 5 SHAREHOLDERS RESOLUTIONS To re-appoint members to the Investment Board ORDINARY RESOLUTION 5: THAT the re-appointment of Mr. David Savy, Dr. Faisal Alayyan, and Mr. Helal Lootah, the existing members of the Investment Board of the REIT, be approved. Explanatory note - As per th
Slide 29: Ordinary Resolution 6: Related Party Transactions
ORDINARY RESOLUTION 6 SHAREHOLDERS RESOLUTIONS To authorize the REIT to enter into Related Party Transactions ORDINARY RESOLUTION 6: THAT the REIT Manager be authorised on behalf of the REIT to enter into Related Party Transactions for the acquisition or sale of Real Property in the United Arab Emir
Slide 30: Ordinary Resolution 7: Purchase of Own Shares
ORDINARY RESOLUTION 7 SHAREHOLDERS RESOLUTIONS Purchase of Own Shares ORDINARY RESOLUTION 7: THAT the REIT be authorised to make one or more market purchases of its ordinary shares, provided that: 1. the number of ordinary shares which may be purchased in any given period and the price which may be
Slide 31: Questions & Answers
QUESTIONS & ANSWERS MANAGED BY
Slide 32: Voting
tee | Emirates REIT VOTING MANAGED BY EQUITATIVA
Slide 33: Thank you for your ongoing support and commitment
THANK YOU FOR YOUR ONGOING SUPPORT AND COMMITMENT TO EMIRATES REIT’S SUCCESS MANAGED BY
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