Shuaa Capital (p.s.c) · DFM:SHUAA
Shuaa Capital (p.s.c) — Q2 2023 Earnings Presentation
15 slides from Shuaa Capital (p.s.c)'s earnings presentation, Aug 10, 2023
Slide 1: Earnings Presentation Q2 2023
Earnings Presentation Q2 2023 10 August 2023 © 2023 SHUAA Capital psc. All rights reserved Information Classification: Internal
Slide 2: Executive Summary
Executive Summary § Group revenues of AED 99 million in H1 2023 significantly higher compared to AED 59 million in H1 2022 on a normalized basis excluding revenues from discontinued operations. Financial § H1 2023 operating income (excluding carry and one-off items) continues to show progress at AED
Slide 3: Key Financial Highlights H1 2023
Key Financial Highlights H1 2023 H1 2023 Financial Performance Commentary Change vs. Income Statement (AED Mn) H1-23 H1-22 H1-22 Q2-23 Q1-23 Net Operating Income of AED 32 million in H1 Net Fee and Commission Revenue 87.3 147.8 (60.5) 32.8 54.5 2023 mainly driven by strong performance from Other Rev
Slide 4: Revenue Breakdown
Revenue Breakdown Year-over-Year Revenues Commentary AEDm Revenues in H1 2023 AED 40 million higher than prior year on a normalized basis post deconsolidation of Asset Management AED 99 million of revenues due to sale of a non-core asset and Astrea contract run-off. Increase in 2023 Investment Banki
Slide 5: Asset Management Segment Performance
Asset Management Segment Performance Asset Management Revenues Commentary AEDm Real Estate Higher revenues in current year mainly driven by strong performance in managed funds generating management Public Markets and performance-based incentive fees. AED 27 million of Private Markets revenues normal
Slide 6: Investment Banking Segment Performance
Investment Banking Segment Performance Investment Banking Revenues Commentary AEDm Advisory Investment banking revenues higher by AED 2 million in current year primarily driven by sales and trading income Markets +2m through robust trading volumes traded through the 10 +25% SHUAA fixed income platfo
Slide 7: Corporate Segment Performance
Corporate Segment Performance Corporate Revenues Commentary AEDm Corporate revenues will make up a smaller portion of overall revenues in 2023 and beyond mainly as a result of 71 the Group’s strategic initiative to divest from non-core assets. Revenues linked to non-core asset (discontinued ops) § C
Slide 8: Operating Expense Breakdown
Operating Expense Breakdown Year-over-Year Expenses 1 Commentary AEDm Other Expenses Firm cost discipline maintained across the Group in H1 Staff Costs 2023 with continued decline in operating expenses G&A Controllable Costs compared to prior year due to cost optimization D&A Discontinued Operations
Slide 9: Continued progress on deleveraging
Continued progress on deleveraging AEDm 88% § Continued disciplined approach to deleveraging with debt-to-equity ratio at 88% in Q2 2023 compared to Debt to Equity 107% in Q1 2023. Ratio § Decrease in debt-to-equity ratio in 102% Q2 2023 is mainly related to the settlement of the Kepler loan facilit
Slide 10: Appendix
Appendix
Slide 11: Quarterly P&L
Quarterly P&L H1 Q2 Q1 H1 Q2 Q1 AED '000 2023 2023 2023 2022 2022 2022 Revenue 99,235 39,515 59,720 157,919 66,555 91,364 Ot her income/ (expense) 45,420 52,103 (6,683) 153,564 38,392 115,172 Net foreign exchange gain/ (loss) (7,662) (4,556) (3,107) 22,964 16,085 6,879 Change in fair value gains/ (l
Slide 12: Balance Sheet Summary
Balance Sheet Summary AED '000 30-Jun 31-Mar 31-Dec 30-Sep 30-Jun 31-Mar 2023 2023 2022 2022 2022 2022 Assets Cash and deposits with banks 103,120 98,275 64,151 107,907 252,983 348,586 Receivables and other debit balances 309,732 437,398 407,061 397,757 201,808 234,801 Loans, advances and finance le
Slide 13: Disclaimer
Disclaimer THIS PRESENTATION IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION. THIS PRESENTATION MAY NOT BE PUBLISHED OR FURTHER DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, TO ANY OTHER PERSON IN ANY JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO WOULD BE UNLAWFUL. By
Slide 14: Cautionary Statement Regarding Forward-Looking Information
Cautionary Statement Regarding Forward-Looking Information This document contains forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the
Slide 15: SHUAA Capital psc Head Office
SHUAA Capital psc Head Office: The H Hotel Dubai, Offices Tower, Level 15, Office No. 1502 P.O. Box: 31045, Dubai, United Arab Emirates Tel: +971 (4) 330 3600, Fax: +971 (4) 330 3550, E-mail: info@shuaa.com, Website: www.shuaa.com A financial investment company licensed and regulated by the U.A.E. S