Enbd Reit (ceic) Plc · NASDAQDUBAI:ENBDREIT
Enbd Reit (ceic) — Investor Presentation (March 2025)
21 slides from Enbd Reit (ceic)'s investor presentation, March 2025
Slide 1: Quarterly Update
Managed by Emirates NBD Asset Management Quarterly Update March 2025
Slide 2: Performance overview
2 Performance overview • NAV up to USD 218.6m to USD 0.87 per share + 1.4% increase Q-o-Q (up from USD 0.86 per share) + 12.3% increase Y-o-Y (up from USD 0.78 per share) • FFO for FY Mar-25 of USD 11.2m +45 % increase Y-o-Y (up from USD 7.8m) • Net Income for FY Mar-25 (including movement in valuat
Slide 3: Payments to shareholders (last 5 yrs)
3 Payments to shareholders (last 5 yrs) FY ending 31st March 2025 USD USD per share % of NAV % of share price Total paid to shareholder (proposed) 10,000,000 0.0400 4.60% 7.30%* FY ending 31st March 2024 USD USD per share % of NAV % of share price Total paid to shareholder 7,500,000 0.0300 3.85% 8.5
Slide 4: ENBD REIT performance and dividends
4 ENBD REIT performance and dividends 20-21 21-22 22-23 23-24 24-25* 20% $12 15% 16.9% $9.3 $9.5 $10.0 $10 12.7% 12.4% 12.3% 10% $9.0 8.5% 7.5% $7.5 5% 5.5% $8 5.2% 4.6% 4.5% 3.9% 0% -1.9% $6 $m -5% -7.4% -10% $4 -15% -17.0% $2 -20% -21.5% -25% $0 Dividend Yield / NAV % change in NAV Total Return %
Slide 5: Portfolio
= Portfolio '
Slide 6: Snapshot: 31st March 2025
6 Snapshot: 31st March 2025 Properties Occupancy LTV* Arabian Oryx House 10 95% 46% Portfolio property value NAV: USD 219 m The Edge Al Thuraya 1 Binghatti Terraces USD 395 m NAV per share: USD 0.87 Offices: 70% WAULT: 3.41 years DHCC 49 DHCC 25 Burj Daman Office: 2.00 years Residential: 13% Residen
Slide 7: Portfolio occupancy – Year on Year
7 Portfolio occupancy – Year on Year Al Thuraya Tower 1 86% 7% The Edge 100% 0% Burj Daman 100% DHCC49 90% 9% DHCC25 -4% 80% Binghatti Terraces 98% 1% Arabian Oryx House -2% 97% Uninest 100% Souq Extra 100% South View School 100% Offices 93% 3% Residential -1% 97% Alternative 100% -20% 0% 20% 40% 60
Slide 8: Portfolio occupancy by building
8 Portfolio occupancy by building Offices Residential Alternatives 100% 100% 100% 90% 90% 80% 80% 80% 70% 70% 60% 60% 60% 50% 50% 40% 40% 40% 30% 30% 20% 20% 20% 10% 10% 0% 0% 0% Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Al Thuraya Tower
Slide 9: ENBD REIT – Portfolio valuation (Q-o-Q)
9 ENBD REIT – Portfolio valuation (Q-o-Q) Portfolio valuations (USD mn) 400 394 395 390 379 380 370 370 373 370 361 364 360 351 356 348 350 350 346 342 343 342 337 340 332 330 320 310 300 290 % Change Q-o-Q 6% 4% 3% 4% 2% 1% 2% 1% 0% 1% 0% 0% 0% 0% 2% 2% -2% -1% 1% 0% -2% -2% -4% -2% Dec-20 Mar-21 J
Slide 10: Asset valuations - % Y-o-Y change
10 Asset valuations - % Y-o-Y change Office Valuations Residential Valuations Alternative Valuations 90 30 23 80 22 26 70 21 60 22 USD m USD m USD m 50 20 40 18 19 30 14 20 18 10 10 17 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Mar-22 Jun-22 Sep-22 Dec
Slide 11: Asset snapshot: Office
11 Asset snapshot: Office The Edge DHCC 49 DHCC 25 Overall Al Thuraya 1 Burj Daman Overall Dubai Internet Healthcare Healthcare Office Media City DIFC Portfolio City City City Portfolio Market value (USD) 73 77 81 25 22 278 395 % of portfolio value 18% 20% 21% 6% 5% 70% 100% Net leasable area 92,208
Slide 12: Asset snapshot: Residential
12 Asset snapshot: Residential Binghatti Arabian Oryx Overall Overall Terraces House Residential Portfolio Silicon Oasis Barsha Heights Portfolio Market value (USD) 25 28 53 395 % of portfolio value 6% 7% 13% 100% Net leasable area (Sq. Ft.) 178,907 132,008 310,915 1,172,319 Occupancy rate 98% 97% 9
Slide 13: Asset snapshot: Alternative
13 Asset snapshot: Alternative South View Overall Uninest Souq Extra Retail Overall School Alternative Dubailand Centre Portfolio Remraam Portfolio Market value (USD) 21 23 21 65 395 % of portfolio value 5% 6% 5% 16% 100% Net leasable area (Sq. Ft.) 160,264 36,821 132,000 329,085 1,172,319 Occupancy
Slide 14: Financials
14 Financials
Slide 15: Financial summary: 31st March 2025
15 Financial summary: 31st March 2025 • Gross income at USD 37.5m (up by 8.5% or USD 2.9m) Y-o-Y. • Portfolio valuations at USD 395m improved marginally by 0.4% this quarter ↑ USD 1.5m and by 6.9% Y-o-Y. • Finance cost at USD 13.2m is down 8.1% Y-o-Y. • Operating expenses at USD 7m up 3% Y-o-Y due t
Slide 16: FFO Composition (USD Millions)
16 FFO Composition (USD Millions) OPEX -0.7 +0.8 (+14.1%) +0.5 +0.2 (+7.4%) (+3.0%) 2.9 (-10.9%) 3.2 (7.9%) Gross Income 6.8 7.0 (9.4%) 6.3 -4.7 +4.0 37.5 6.2 (-14.6%) (+14.7%) 34.5 5.5 32.0 31.3 27.3 Mar ’21 Mar ’22 Mar ’23 Mar ’24 Mar ’25 +3.6 Finance Cost (+33.7%) -1.2 +3.4 (-8.1%) (+45.4%) 14.4
Slide 17: Capital structure: 31st March 2025
17 Capital structure: 31st March 2025 Finance terms: • Emirates NBD PJSC and Commercial Bank of Dubai: 3month LIBOR + 1.75% • Facility start date: 7 December 2021 • Maturity date: 6 December 2026 • Current SOFR (31st March 2025): 4.4% • Hedge: 3 April 2023 till maturity - USD 50mn Hedged at 3.65% SO
Slide 18: Financials: Statement of Financial Position
18 Financials Statement of Financial Position (USD m) 31st March 2025 31st March 2024 Investment Properties 395.5 384.3 IFRS Adjustment and Right of Use Assets 8.3 9.1 Cash and Cash Equivalent 24.4 21.1 Trade and Other Receivables 7.6 7.7 Total Assets 435.6 422.1 Payable for investments 0.2 0.2 Isla
Slide 19: Financials: Statement of Comprehensive Income
19 Financials Statement of Comprehensive Income (USD m) Full Financial Year Full Financial Year 31st March 2025 31st March 2024 Rental Income 36.9 34.0 Profit on Deposits 0.5 0.5 Total Income 37.5 34.5 Operating Expenses (7.0) (6.8) Operating Income 30.4 27.7 Other Expenses (2.8) (2.6) Management Fe
Slide 20: Disclaimer
20 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 Infor
Slide 21: Thank You
Thank You www.enbdreit.com
Enbd REIT (Ceic) — Investor Presentation (March 2025) on 6ix