Al Dar Properties · ADX:ALDAR
Al Dar Properties — Q1 2019 Earnings Presentation
18 slides from Al Dar Properties's earnings presentation, 2019
Slide 1: Q1 2019 Results Presentation
Q1 2019 RESULTS PRESENTATION Aldar Q1 2019 Results
Slide 2: Disclaimer
This disclaimer governs the use of this presentation. You must not rely on the information in the presentations and alternatively we recommend you seek advice from an appropriately qualified professional. If you have any specific questions about any matter in this presentation you should consult an
Slide 3: At a Glance
Revenue (AED m) (+20%) Gross profit (AED m) Net profit (AED m) Development sales (AED Recurring revenue NOI (+1%) (-26%) m) (+49%) (AED m) (+9%) 715 723 668 1,765 493 1,016 1,470 681 431 396 Q1 2018 Q1 2019 Q1 2018 Q1 2019 Q1 2018 Q1 2019 Q1 2018 Q1 2019 Q1 2018 Q1 2019 Development Asset Management
Slide 4: Asset Management
Asset class NOI contribution Key announcements – limited impact on Q1 2019 NOI Q1 2019 NOI up 9% (AED 431 million) 12 37 29 56 109 103 MANAGEMENT 128 120 118 115 Q1 2018 Q1 2019 Full ownership of Etihad Plaza and Etihad Sale of Al Murjan Tower for AED Opening of 33,000 sqm GLA Residential Retail Com
Slide 5: Development Management
Development revenue based on progress of completion 100% Jawaher Ansam Mamsha Hadeel Nareel Island Al Merief West Yas¹ DEVELOPMENT The Bridges Meera MANAGEMENT Q1 2019 development highlights Yas Acres Mayan 16 projects within development pipeline at various Revenue recognised stages – 6 handed over/
Slide 6: Government Policy Reform
POLICY REFORM GOVERNMENT Abu Dhabi Government stimulus ADNOC growth Federal law amendments o AED 50 billion ($13.6 billion) stimulus o 5-year capex plan of AED 486 billion o Amendments to UAE’s federal policies announced in June and detailed in (US$ 132 billion) approved by SPC in announced in Q3 20
Slide 7: Balance Sheet
Robust balance sheet position Prudent capital management and governance in place BALANNCE SHEET AED millions ASSETS As at 31 Mar 2019 As at 31 Dec 2018 Aldar Properties Property, plant and equipment 3,546 3,601 Investment properties 17,073 16,408 DWIP and inventories 7,045 6,749 Investment in associ
Slide 8: Key Messages
Strong start to 2019 following two successful development launches 2019 development KEY MESSAGES sales guidance Freehold law “a game changer” for Abu Dhabi real estate market AED 4 billion Aldar Investments strategy in action, resilient occupancy performance Strong development revenue recognition su
Slide 9: Appendix
APPENDIX Aldar Q1 2019 Results
Slide 10: Development Summary
Total as at 31 Mar 2019 Launch Expected Project Location Sold units Sales value Units date % sold % completion completion ¹ (AEDm) ¹ launched DEVELOPMENT Ansam Yas Island 2014 526 916 547 96% 100% Handed over ❑ Q1 development sales of AED 1.0 billion mainly driven by Alreeman Hadeel Al Raha Beach 20
Slide 11: Development Pipeline
COMMENCED HANDOVER Nareel Island Type: Exclusive land plots for villa development Land: Non-investment zone DEVELOPMENT Location: Nareel Island, off Abu Dhabi Island Units launched: 161 Sold as at 31 Mar 2019: 59% HANDED OVER Ansam Type: Prime residential apartments Land: Investment zone PIPELINE Lo
Slide 12: Mamsha, Meera, Mayan and other developments
EXPECTED COMPLETION: 2019 COMMENCED HANDOVER Mamsha Meera Type: Beachfront residential apartments Type: Residential apartments Land: Investment zone Land: Investment zone Location: Saadiyat Island Location: Reem Island Units launched: 461 Units launched: 408 Sold as at 31 Mar 2019: 39% Sold as at 31
Slide 13: Water's Edge, The Bridges, Alreeman and other developments
EXPECTED COMPLETION: 2020 EXPECTED COMPLETION: 2021 The Bridges Alreeman Type: Mid-market residential apartments Type: Mid-market residential land plots Land: Investment zone Land: Investment zone Location: Reem Island Location: Al Shamka Units launched: 636 Units launched: 895 Sold as at 31 Mar 201
Slide 14: Operating Assets
Retail Residential Commercial Hospitality Adjacent OPERATING 478,879 sqm GLA¹ 5,621 units¹ 325,560 sqm GLA¹ 2,900 keys¹ Consolidating assets: Consolidating assets: Consolidating assets: Consolidating assets: Key consolidating assets • Yas Mall • Al Rayanna • Aldar HQ • Yas Hotel and businesses: • Al
Slide 15: Financial Statements
Profit and loss Balance sheet AED millions Q1 2019 Q1 2018 AED millions 31-Mar-19 31-Dec-18 Revenue 1,765 1,470 STATEMENTS Direct costs Gross profit (1,042) 723 (754) 715 Property, plant and equipment 3,546 3,601 Gross profit Margin 41% 49% Investment properties 17,073 16,408 SG&A expenses (105) (97
Slide 16: Segmental Analysis
Q1 2019 recurring revenues of AED 858 million (Q1 2018: AED 725 million, Q4 2018: AED 904 million) ¹ Q1 2019 Segmental Revenue Performance AED Millions 692 693 574 422 437 431 414 423 306 210 239 130 SEGMENTAL 26 23 22 Investment Properties Hospitality & Leisure Adjacent Businesses Development Manag
Slide 17: Government Receivables
Remaining cash inflows Transaction (AEDm) 2019 2020 Total GOVERNMENT RECEIVABLES Sale of Al Raha Beach Land ¹ - 95 95 Infrastructure recoverables ² 250 - 250 250 95 345 ¹ Al Raha Beach land plot handed over in Q3 2016 with a payment plan structure ² Cash flow timing projection, subject to change ❑ A
Slide 18: Contact Us
CONTACT US For any further enquiries please contact: Chris Wilson Mohamed ALMaazmi Head of Investor Relations Investor Relations + 971 2 810 5624 + 971 2 810 5866 [email protected] [email protected] Aldar Q1 2019 Results 17