Orascom Development Holding AG
Orascom Development — H1 2017 Earnings Presentation
17 slides from Orascom Development's earnings presentation, 2017
Slide 1: 1H 2017 Results
ORASC*xM DEVELOPMENT 1H 2017 Results
Slide 2: Agenda
Agenda 1H 2017 Company Highlights Page 3 1H 2017 Destination Progress and Outlook Page 5 Financial Review Page 12 2
Slide 3: Key Highlights 1H 2017
Key Highlights 1H 2017 Continued positive operational and financial performance across all business segments; recording a 76.9% increase in total revenues to reach EGP 1,093.7 million vs. EGP 618.1 million in 1H 2016 and 142.4% increase in Adjusted EBITDA to EGP 439.8 million and a positive net prof
Slide 4: Agenda
Agenda 1H 2017 Company Highlights Page 3 1H 2017 Destination Progress and Outlook Page 5 Financial Review Page 12 4
Slide 5: Business Segments 1H 2017
Business Segments 1H 2017 Revenue EBITDA Adj. EBITDA1 (EGP mn) 1H 2017 1H 2016 Δ in % 1H 2017 1H 2016 1H 2017 1H 2016 Hotels 448.8 183.0 145.2% 274.9 (45.2) 175.6 (8.9) Real Estate 300.5 222.0 35.4 206.6 190.5 199.1 109.5 Land - - - - 71.1 - 37.3 Destination Management 80.9 53.3 51.8% (18.0) (2.3) (
Slide 6: Business Segments 2Q 2017
Business Segments 2Q 2017 Revenue EBITDA Adj. EBITDA1 (EGP mn) 2Q 2017 2Q 2016 Δ in % 2Q 2017 2Q 2016 2Q 2017 2Q 2016 Hotels 247.9 97.4 154.5% 111.5 2.7 108.2 (1.0) Real Estate 174.1 126.9 37.2% 120.4 53.4 118.6 55.1 Land - - - - 31.9 - 37.2 Destination Management 45.3 27.5 64.7% (7.4) (1.2) (7.1) (
Slide 7: Real Estate KPIs 1H 2017, 2Q 2017 & Deferred Revenue
Real Estate KPIs 1H 2017, 2Q 2017 & Deferred Revenue Net value of Contracted Number of Contracted Average Selling Price Units (EGPmn) Units (EGP/m2) Destination 1H 17 1H 16 1H 17 1H 16 1H 17 1H 16 El Gouna 705.0 348.0 129 93 33,026 24,877 Fayoum 13.2 0.3 14 2 10,496 6,500 Makadi 0.5 2.9 1 7 4,984 4,
Slide 8: Hotel KPIs 1H 2017 & 2Q 2017
Hotel KPIs 1H 2017 & 2Q 2017 Occupancy Occupancy for Total number of Number of TRevPAR* GOP PAR** for total rooms available rooms hotel rooms available rooms (EGP) (EGP) (%) (%) Destination 1H 17 1H 16 1H 17 1H 16 1H 17 1H 16 1H 17 1H 16 1H 17 1H 16 1H 17 1H 16 El Gouna1 2,424 2,506 2,424 2,506 75 5
Slide 9: El Gouna, Egypt
El Gouna, Egypt 1H 2017 Highlights and Outlook: ▪ Net sales increased by 102.6% to EGP 705mn vs. EGP 348mn in 1H 2016 ▪ Hotels GOP surged by 775.8% to EGP 179.6mn compared to EGP 20.5mn in 1H 2016. ▪ Transferred 82 hotel rooms into real estate products with total inventory of USD 13.5mn, which are a
Slide 10: Taba Heights, Egypt
Taba Heights, Egypt 1H 2017 Highlights and Outlook: ▪ Hotels pick up in spite of the continued travel bans. ▪ Successfully curbed the GOP losses from EGP 11.3mn in 1H 2016 to EGP 7.9mn in 1H 2017. ▪ To date, we have 992 operating rooms in Taba Heights out of 2,365 rooms compared to only 442 rooms op
Slide 11: Agenda
Agenda 1H 2017 Highlights Page 3 1H 2017 Destination Progress and Outlook Page 5 Financial Review Page 12 11
Slide 12: Income Statement
Income Statement (EGP mn) 2Q 2017 2Q 2016 1H 2017 1H 2016 Notes Revenue 599.9 334.1 1 1,093.7 618.1 1 Revenues and gross profit margin increased Cost of sales (352.4) (227.3) (667.5) (448.3) due to the enhanced operational performance across all business segments. Gross profit 247.5 106.8 1 426.2 16
Slide 13: Balance Sheet
Balance Sheet (EGP mn) 30.06.17 31.12.16 Notes Property, plant and equipment 1 3,639.3 3,814.3 1 PPE decreased mainly due to the reclassification Inventories 668.8 586.0 of the 3 rented hotels in Makadi to investment property. Receivables 1,420.5 1,428.4 Cash and bank balances 924.7 871.1 2 Other as
Slide 14: Cash Flow Statement
Cash Flow Statement (EGP mn) 1H 2017 1H 2016 Notes Cash from operations 1 125 95 1 Cash flow from operations increased Interest paid (14) (5) due to enhanced performances of business segments. Taxes paid (41) (29) 2 Payments for PP&E mainly due to the Operating Cash Flow 1 70 61 Tamweel activity and
Slide 15: Financing Profile
Financing Profile 1 Interest expense by currency Total debt by currency in %, as of 30.06.17 in %, as of 30.06.17 4% 6% 18% 35% 61% 76% EGP USD EUR EGP USD EUR 30.06.17 31.12.16 Equity ratio (%)2 18.0% 17.3% Weighted average cost of debt (%) 9.08% 7.75% 1 All debt figures exclude debt relating to Ta
Slide 16: IR Dashboard
IR Dashboard Investor Relations Contact: Sara El Gawahergy Head of Investor Relations Tel Dir +20 (0) 22 461 89 61 Mobile CH: +41 41 874 1711 sara.elgawahergy@orascomdhcom ir@orascomdh.com www.orascomhd.com 16
Slide 17: Disclaimer
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