Dubai Investment (p.j.s.c) · DFM:DIC
Dubai Investment (p.j.s.c) — Dubai Investments PJSC — Q2 2016 Earnings Presentation
39 slides from Dubai Investment (p.j.s.c)'s earnings presentation, 2016
Slide 1: Dubai Investments PJSC 2Q 2016 Investor Presentation
Dubai Investments PJSC 2Q 2016 Investor Presentation
Slide 2: Content
Content Page 3 Management Summary Page 10 Second Quarter 2016 Financial Highlights Page 20 Outlook & Guidance Page 24 Portfolio Information Page 38 Disclaimer – Forward Looking Statements 2
Slide 3: Management Summary
Management Summary y jloLi_aw wy CUD DUBAI INVESTMENTS
Slide 4: Dubai Investments is a real estate and investment company
Dubai Investments is a real estate and investment company Three core business segments (Asset mix %) (at 30 June 2016) Investments Manufacturing & 19% Contracting 20% 15.7 AED billion Property 61% Consistently growing Asset Base (AED bn) § DIC was established in 1995 as an onshore 15.6 15.7 investme
Slide 5: Dubai Investments Company History & Milestone
Dubai Investments Company History & Milestone 2016 1999 2006 KCH Healthcare Masharie MODUL 1998 Emirates Float Glass Globalpharma Palisades Development Dubai Real Estate Investments 2015 Dubai Investments Park Al Mal Capital 1997 2003 Emirates Glass EMICOOL 2008 Emirates Building Systems Lumiglass T
Slide 6: Dubai Investments - Share Information
Dubai Investments - Share Information Fundamental Information Share Price Development vs Book Value Per Share (AED) Exchange Dubai Financial Market 4.00 Symbol: DFM:DIC 3.00 ISIN AED000601016 2.00 Sector Investments & Financial Services 1.00 2015 Dividend 12% Cash Authorized capital AED 4,049,452,64
Slide 7: Flagship asset: Dubai Investments Park - a "City within a City"
Flagship asset: Dubai Investments Park - a “City within a City” TOTAL AREA NET LEASE AREA 23 17 million m2 million m2 TENANTS INDUSTRIAL ~1,000 65% LEASED RESIDENTIAL 97% 25% YTD INCOME COMMERCIAL 355 10% AED million 7
Slide 8: Dubai Investments – Portfolio Snapshot
Dubai Investments – Portfolio Snapshot As of 30 June 2016 (AED) 33.1% 5,192m DUBAI INVESTMENTS PARK 438m 2.8% AL MAL CAPITAL 21.2% 3,329m 9.7 3.2 2.8 billion billion DUBAI INVESTMENTS billion 20.4% 17.6% REAL ESTATE COMPANY 62% 2,329m 14.8% 3.1% 483m MANUFACTURING & INVESTMENTS CONTRACTING Equity &
Slide 9: Management Strategy
Management Strategy § Investment in a broad range of companies (greenfield to mature businesses) Diversification § Real estate & investment portfolio designed to perform through market cycles § Launch healthcare and education sector funds § Synergistic investment portfolio across industry value chai
Slide 10: Second Quarter 2016 - Financial Highlights
Second Quarter 2016 - Financial Highlights
Slide 11: 2Q 2016 Financial Results at a glance
2Q 2016 Financial Results at a glance REVENUES EXPENSES EBITDA NET PROFIT EPS 657 (446) 251 218 0.05 AED million AED million AED million AED million AED per share TOTAL ASSETS CASH TOTAL LIABILITES DEBT / EQUITY ROE 15.7 1.1 4.4 27.4% 9.7% AED billion AED billion AED billion 11
Slide 12: 2Q 2016 Key Performance Indicators
2Q 2016 Key Performance Indicators Income and earnings (AED m) 2Q 16 1Q 16 2Q15 q-o-q (%) y-o-y (%) Total income 657.0 714.7 616.9 -8.1% 6.5% Total expenses (445.7) (423.1) (400.8) 5.3% 11.2% Profit for the period 211.3 291.6 216.1 -27.6% -2.2% Attributable profit 218.4 297.5 223.4 -26.6% -2.3% EBIT
Slide 13: 1H 2016 Key Performance Indicators
1H 2016 Key Performance Indicators Income and earnings (AED m) 1H 16 1H 15 y-o-y (%) Total income 1,160.0 1,371.6 6.5% Total expenses (658.6) (868.8) 11.2% Profit for the period 501.4 502.9 -2.2% Attributable profit 505.6 515.9 -2.3% EBITDA 561.7 569.7 5.3% EPS (AED) 0.12 0.13 -9% 13
Slide 14: Solid performance in 2Q 2016
Solid performance in 2Q 2016 Total income (AED m) Total Expenses (AED m) 810.5 -472.2 701.1 714.7 -435.7 -423.1 -445.7 616.9 657.0 -400.8 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 …of which Rental Income (AED m) Attributable profit (AED m) 358.1 217.2 199.4 207.
Slide 15: Total income movement year-on-year
Total income movement year-on-year Total Income Bridge 1,371.6 191.5 86.1 17.6 71.6 (48.0) (7.8) (17.4) (19.7) 1,160.0 (30.3) (15.3) (16.7) 1H 2015 Sale of goods Rental income Contract Sale of Gain on FV of FV of Gain onsale of Gain on sale of Profit Share Dividend Gain on 1H 2016 and services reven
Slide 16: Long term trend in rental income
Long term trend in rental income Rental income (AED m) 217.2 207.0 199.4 187.4 188.3 172.9 165.2 151.2 145.2 141.1 134.1 143.1 129.6 121.6 183.1 164.1 161.9 171.7 154.3 149.5 158.8 138.6 129.7 121.1 123.9 115.2 122.8 109.4 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 20
Slide 17: Balance Sheet development
Balance Sheet development Total Assets (AED m) Total Liabilities & Equity (AED m) 5.2 5.6 5.6 10.7 10.7 10.1 9.7 10.5 9.1 1.6 1.6 1.6 2.5 2.5 2.8 30 Jun 15 30 Dec 15 30 Jun 16 30 Jun 15 30 Dec 15 30 Jun 16 Current assets Non-current assets Current liabilities Non-current liabilities Shareholders' Eq
Slide 18: Balance Sheet Development since 31 December 2015
Balance Sheet Development since 31 December 2015 Total Assets (AED m) 1,049 337.8 0.8 35.6 131.6 15,700 (90.5) (18.8) 12.4 89.7 15,254 (254.2) (14.6) (109.0) (310.4) (384.7) (27.5) (0.9) Non-current Assets Current Assets 31-Dec-15 Property, plant Goodwill and Investment Investments at Investment in
Slide 19: DIC has maintained a disciplined approach to asset growth
DIC has maintained a disciplined approach to asset growth Total Assets (AED bn) 15.6 15.7 15.0 15.3 14.5 14.7 14.8 14.2 13.2 13.5 5.2 5.6 5.8 5.7 5.6 5.7 4.5 5.2 5.7 4.3 10.5 8.9 9.0 9.0 9.0 9.1 9.3 9.7 9.7 8.8 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 Total Non-Current Assets Tota
Slide 20: Low Leverage Structure
Low Leverage Structure Total Debt (AED bn) Debt/equity (%) 2.9 2.8 2.8 2.7 27% 2.7 26% 2.6 2.6 26% 26% 2.5 24% 24% 24% 25% 24% 2.3 23% 23% 22% 2.1 2.2 2.2 21% 21% 2.1 2.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 13 13 13 13 14 14 14 14 15 15 15 15 16 16 13
Slide 21: Outlook & Guidance
Outlook & Guidance y justi ww env DUBA| INVESTMENTS
Slide 22: Outlook & Guidance for FY 2016
Outlook & Guidance for FY 2016 Total Income § Generate double digit growth Total Expenses § Maintain single digit expense growth in line with income growth Net Profit § High single digit to low double digit growth ROE § Target: ROE of 10% Dividend § Maintain attractive return profile for shareholder
Slide 23: Financial Calendar
Financial Calendar Upcoming Events: 19-20 September Arqaam Capital Investor Conference 31 October 2016 Board Meeting 31 October 2016 3Q 2016 Results 21 December 2016 Board Meeting 23
Slide 24: Investor Relations Contact
Investor Relations Contact Mushtaq Masood Group Chief Financial Officer Dubai Investments PJSC PO Box 28171 Dubai, UAE Phone +971 4 8122 400 Email mushtaq@dubaiinvestments.com www.dubaiinvestments.com 24
Slide 25: Investor Relations Contact
Investor Relations Contact Maher Rabah Investor Relations Dubai Investments PJSC PO Box 28171 Dubai, UAE Phone +971 4 8122 431 Email maher@dubaiinvestments.com www.dubaiinvestments.com 25
Slide 26: Portfolio Information
Portfolio Information y justi ww env DUBA| INVESTMENTS
Slide 27: Dubai Investments Park - Industrial & Commercial
Dubai Investments Park - Industrial & Commercial Business Overview Dubai Investments Park (DIP) is a self-contained mixed-use industrial, commercial and residential complex. Spread over a total area of 2,300 hectares, DIP is based on a pioneering concept of creating a “city within a city”. Includes
Slide 28: Dubai Investments Park – Residential
Dubai Investments Park – Residential Business Overview DIP residential areas offer a variety of options from high-end residential living to staff accomodation. This comprises across several communities: • The Green Community - villas, townhouses, apartments • Ritaj - apartments • Dunes Village - apa
Slide 29: Properties Investments
Properties Investments Business Overview Properties Investments is involved in investment in, and development of, real estate properties and has developed prestigious residential and recreational projects such as the Green Community and Courtyard Marriott in DIP. Properties Investments was formed in
Slide 30: Dubai Investments Real Estate Company – Ritaj
Dubai Investments Real Estate Company – Ritaj Ritaj residential community Location: Dubai Investments Park Size: 2.58 million square feet Objects: 11 residential blocks 1,343 studio apartments 447 one bedroom apartments 194 two bedroom apartments 40 three bedroom apartments The low rise community al
Slide 31: Dubai Investments Real Estate Company – Mirdiff Hills
Dubai Investments Real Estate Company – Mirdiff Hills Mirdif Hills is a 3.9 million sqft mixed-use residential, commercial, hotel and retail project under development Development Overview • Mushrif Park, Mirdiff, Dubai • Freehold plot 949,999 sqft • 993 residential apartments and 66 serviced apartme
Slide 32: Al Taif Investment
Al Taif Investment Business Overview Currently working to develop an AED 460 million mixed-use commercial and residential project in Fujairah Partnership between Dubai Investments and Government of Fujairah Business Overview 60% Dubai Investments 40% Government of Fujairah 32
Slide 33: Masharie
Masharie Business Overview Investments in medium and large-sized companies operating in construction materials, contracting, interior design and related activities. Aluminum sheet Aluminum extrusions for Aluminum design, production construction and manufacturing and Ownership industrial sector insta
Slide 34: Dubai Investments Industries
Dubai Investments Industries Business Overview DII is the greenfield investment arm of Dubai Investments across diversified industry sectors • Divested 66% of Global Pharma in 2015 Steel structure Overhead lifting Polystyrene insulation manufacturing solutions and board materials • In the process of
Slide 35: Emirates Building Systems
Emirates Building Systems Business Overview Leading manufacturer of steel structures in the UAE with offices in other GCC countries, Pakistan, Bangladesh and United States. Manufactures hot rolled structures, pre-engineered buildings, aluminum and steel sheeting, insulated panels, building accessori
Slide 36: Glass
Glass Business Overview Premium quality glass solutions from float glass manufacturing of high end architectural glass and float laminated glass Five subsidiaries: Emirates Float Glass UAE’s largest float glass facility with capacity of 600t of glass per day Emirates Glass Architectural glass Saudi
Slide 37: Emicool
Emicool Business Overview Emicool is a B2B and B2C district cooling company that provides clean, efficient and innovative solutions to a number of communities in the UAE. Established in 2003 as joint venture between Dubai Investments and Union Properties. Ownership 50% Dubai Investments 50% Union Pr
Slide 38: Al Mal Capital
Al Mal Capital Business Overview Al Mal Capital, founded in 2005, is a diversified, multi-line investment banking firm headquartered in Dubai. Licensed and regulated by the UAE Central Bank, Al Mal Capital offers a wide range of investment products spread across its business lines of investment bank
Slide 39: Disclaimer – Forward Looking Statements
Disclaimer – Forward Looking Statements This presentation has been prepared solely for informational purposes. The presentation may contain forward looking statements, which reflect our beliefs or current expectations and assumptions regarding the future of the business, future plans and strategies,
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