Al Dar Properties · ADX:ALDAR
Al Dar Properties — Q3 2020 Earnings Presentation
21 slides from Al Dar Properties's earnings presentation, Nov 12, 2020
Slide 1: Q3 2020 Results Presentation
Q3 2020 RESULTS PRESENTATION QUARTER ENDED 30 September 2020 12 November 2020 Aldar Q3 & YTD 2020 Results
Slide 2: Disclaimer
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Slide 3: Q3 & YTD 2020 Summary
Strong financial performance Record quarter for DM revenue and sales ▪ Q3 2020 revenue up 30% to AED 2.1 bn (YTD ▪ Q3 2020 DM revenue up 101% to AED 1.3 bn 2020 up 17% to AED 5.9 bn) driven by strong inventory sales and fee-based ▪ Q3 2020 gross profit up 5% to AED 0.7 bn (YTD projects Q3 & YTD 2020
Slide 4: Development Management
Record development sales (AED bn) Record development revenue (AED bn) 1.20 0.34 1.29 1.10 1.00 0.31 0.64 DEVELOPMENT MANAGEMENT 0.50 0.30 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q3 2019 DM Projects 3rd party projects Q3 2020 ▪ Q3 development revenue up 101% to a record AED ▪ Q3 2020 sales up 7% to A
Slide 5: Asset Management
ASSET MANAGEMENT Resilient performance from Aldar’s diverse portfolio: Q3 NOI down 3.5% (YTD NOI down 11%) ▪ Multi-sector property and operating business portfolio 397 383 -2 -17 delivered a stable performance for Q3 -19 9 15 47 62 3 -14 ▪ Portfolio occupancy 87% vs 91% in YTD 2019 104 113 ▪ Retail
Slide 6: Key Adjacent Businesses
KEY ADJACENT Aldar Education Khidmah / Provis Saadiyat district cooling assets ▪ Aldar Academies is the leading operator and ▪ 100% owned subsidiary (40% remaining ▪ Assets acquired as part of TDIC asset provider of private education in Abu Dhabi with minority stake acquired in 2018) acquisition in
Slide 7: Balance Sheet
Robust balance sheet position Prudent capital management and governance in place AED millions As at 30 Sep’20 As at 31 Dec’19 Aldar Properties PJSC Assets Property, plant and equipment 3,381 3,505 Investment properties 16,652 16,782 Asset Development LHFS, DWIP and inventories 8,535 8,397 Management
Slide 8: Key Messages
Strong Q3 financial Revenue +30% and net profit +8% driven by strong DM performance in sales and performance construction progress on in-house and third-party developments Q3 DM Revenue of AED 1.3bn (+101%) and sales of AED 1.2bn (+7%) both record DM delivers record revenue KEY MESSAGES performances
Slide 9: Appendix
APPENDIX Aldar Q3 & YTD 2020 Results
Slide 10: Development Highlights
AED bn Q3 2020 Q3 2019 Variance YTD 2020 YTD 2019 Variance Development sales 1.20 1.12 7% 2.03 2.99 -32% New launches 0.24 0.22 9% 0.24 1.64 -85% Other (inventory and land) 0.96 0.90 7% 1.79 1.35 32% Development revenues 1.29 0.64 101% 3.36 2.05 64% DEVELOPMENT Property development 0.91 0.60 52% 2.6
Slide 11: Development Projects
Total as at 30 Sep 20 Expected Project Location Launch date Sales value Units Sold units ¹ % sold % completion completion (AEDm) ¹ launched Ansam Yas Island 2014 537 961 547 98% 100% Handed over Hadeel Al Raha Beach 2014 230 493 233 99% 100% Handed over Nareel Abu Dhabi Island 2015 138 1,683 161 86%
Slide 12: Asset Management Highlights
ASSET MANAGEMENT AED bn Q3 2020 Q3 2019 Variance YTD 2020 YTD 2019 Variance Recurring revenues 0.74 0.79 -7% 2.16 2.46 -12% Asset Management 0.49 0.56 -11% 1.48 1.76 -16% Adjacent Businesses 0.24 0.24 2% 0.69 0.70 -1% Net operating income 0.38 0.40 -4% 1.10 1.22 -10% HIGHLIGHTS Asset Management 0.32
Slide 13: AM NOI Walk
NOI decline predominantly due to Covid-19 impact on hospitality & retail (AED mn) 397 383 1,223 1,097 -2 -12 9 -17 15 5 -19 62 -63 47 124 -86 30 3 -14 62 154 -24 104 306 113 311 AM NOI WALK Q3 NOI down ▼4% YTD NOI down ▼11% 121 102 364 301 123 121 367 355 Q3 2019 Residential Retail Commercial Hospit
Slide 14: Asset Management Portfolio
Retail Residential Commercial Hospitality 20 MANAGEMENT Number of properties¹ 33 12 15 1,273 retail units 5,580 units 273 units 2,930 keys Leasable area (485,808 sqm GLA) (824,204 sqm GLA) (318,074 sqm GLA) (436,313 sqm GLA) 85% Portfolio occupancy¹ 89% 92% 45% (incl. Yas Mall 82%) WAULT¹ 2.9 years
Slide 15: Financial Statements
Profit and loss Balance sheet YTD YTD AED millions Q3 2020 Q3 2019 AED millions As at 30 Sep’20 As at 31 Dec’19 2020 2019 Revenue Assets 2,094 1,605 5,858 5,026 Property, plant and equipment 3,381 3,505 Direct costs (1,398) (943) (3,748) (2,972) Investment properties 16,652 16,782 Gross profit LHFS,
Slide 16: Segmental Analysis Q3
Q3 2020 recurring revenues of AED 737 mn (Q3 2019: AED 795 mn; Q2 2020: AED 625 mn) ¹ Quarterly Segmental Revenue Performance 1,033 914 AED Millions 603 417 432 383 406 377 309 317 232 78 124 40 40 Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Property Develo
Slide 17: Segmental Analysis YTD
YTD 2020 recurring revenues of AED 2,164 mn (YTD 2019: AED 2,456 mn) ¹ 2,630 Segmental Revenue Performance 1,946 AED Millions 1,218 1,289 1,213 1,018 733 469 259 107 Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Property Development SEGMENTAL YTD 2020 YTD 201
Slide 18: Stimulus Measures
Federal Government initiatives Abu Dhabi Government initiatives The UAE government has taken significant steps to address the complex public Abu Dhabi Executive Council launched 16 initiatives to support businesses and the health and economic impact of the COVID-19 pandemic community Economy People
Slide 19: Government Policy Reform
Abu Dhabi Government initiatives Energy industry plans Federal announcements ▪ ‘Ghadan 21’ is a programme that aims to make Abu ▪ ADNOC will continue to deliver on its 2030 smart growth ▪ The UAE announced a new government structure, Dhabi one of the best cities in the world to do business, strategy
Slide 20: Refreshed Sustainability Framework
REFRESHED SUSTAINABILITY Aldar Q3 & YTD 2020 Results FRAMEWORK 19
Slide 21: Contact Us
CONTACT US For any further enquiries please contact: Samar Khan Mohamed ALMaazmi Head of Investor Relations Investor Relations + 971 2 810 5624 + 971 2 810 5866 [email protected] [email protected] Aldar Q3 & YTD 2020 Results 20