Al Dar Properties · ADX:ALDAR
Al Dar Properties — Q2 2020 Earnings Presentation
22 slides from Al Dar Properties's earnings presentation, Aug 13, 2020
Slide 1: Q2 & HY 2020 Results Presentation
Q2 & HY 2020 RESULTS PRESENTATION QUARTER ENDED 30 JUNE 2020 13 AUGUST 2020 #ALDARQ220 #ALDARH120 #ALDAR Aldar Q2 & HY 2020 Results
Slide 2: Disclaimer
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Slide 3: Summary
Strong financial performance Development revenue growth ▪ Q2 2020 revenue up 21% to AED 2.0 bn ▪ Q2 2020 DM revenue up 83% to AED 1.3 (HY 2020 up 10% to AED 3.76 bn) bn driven by DM govt award projects, strong ▪ Q2 2020 gross profit up 7% to AED 0.72 inventory sales and Saadiyat land plot sale bn (H
Slide 4: Covid-19 Overview
Development impact Asset management impact Corporate impact ▪ Handovers – slower than ▪ Hotels – majority of portfolio ▪ Business continuity – majority of expected handed over to customers remained closed to the public over employees continue to work from given careful management of most of Q2 home.
Slide 5: DM Highlights
AED bn Q2 2020 Q2 2019 Variance HY 2020 HY 2019 Variance DM HIGHLIGHTS No new development launches & Development sales 0.51 0.85 (41%) 0.84 1.87 (55%) COVID-19 restrictions on sales New launches - 0.56 - - 1.19 - performance Other (inventory and land) 0.51 0.29 +75% 0.84 0.68 +23% Revenue and gross
Slide 6: AM Highlights
AED bn Q2 2020 Q2 2019 Variance HY 2020 HY 2019 Variance AM HIGHLIGHTS Recurring revenues 0.62 0.81 (23%) 1.42 1.66 (14%) Asset Management 0.42 0.57 (26%) 0.98 1.20 (18%) Adjacent Businesses 0.20 0.23 (15%) 0.45 0.46 (3%) Both revenue and NOI declines are Net operating income 0.31 0.40 (21%) 0.72 0.
Slide 7: Asset Management NOI Walk
14% decrease in HY 2020 NOI predominantly due to Covid-19 impact on hospitality & retail (AED mn) 827 715 -10 MANAGEMENT -41 -6 77 -70 15 59 92 -11 207 Etihad Plaza added Al Jimi Mall extension Etihad Airways Insurance claims Aldar Academies 201 NOI WALK in Mar’19 + Etihad Plaza retail Centre additi
Slide 8: Key Adjacent Businesses
KEY ADJACENT BUSINESSES Aldar Education Khidmah Provis Saadiyat district cooling assets ▪ Aldar Academies is the leading operator and ▪ 40% minority stake acquired in September ▪ Assets acquired as part of TDIC asset provider of private education in Abu Dhabi with 2018 acquisition in Q2 2018 the lar
Slide 9: Balance Sheet
Robust balance sheet position Prudent capital management and governance in place AED millions As at 30 Jun’20 As at 31 Dec’19 Aldar Properties PJSC BALANCE SHEET Assets Property, plant and equipment 3,392 3,505 Investment properties 16,677 16,782 Asset Development DWIP and inventories 8,589 8,397 Ma
Slide 10: Key Messages
Covid-19 Impact felt across entire group, proactive measures taken to manage situation KEY MESSAGES Robust financial Growth in headline financials driven by DM – strong inventory sales, land plot performance sale and growth of development management business (govt awards) Prudent decision to hold of
Slide 11: Refreshed Sustainability Framework
REFRESHED SUSTAINABILITY FRAMEWORK Aldar Q2 & HY 2020 Results 10
Slide 12: Appendix
APPENDIX Aldar Q2 & HY 2020 Results
Slide 13: Development Projects Summary
Total as at 30 Jun 20 Expected Project Location Launch date Sales value Units % Sold units ¹ % sold completion (AEDm) ¹ launched completion Ansam Yas Island 2014 536 952 547 98% 100% Handed over DEVELOPMENT Hadeel Al Raha Beach 2014 231 494 233 99% 100% Handed over Nareel Abu Dhabi Island 2015 110 1
Slide 14: Development Pipeline
DEVELOPMENT HANDED OVER COMMENCED HANDOVER HANDED OVER Nareel Island HANDED OVER EXPECTED COMPLETION: 2020/21 Jawaher Ansam Type: Exclusive land plots for villa West Yas Mayan Type: Golf-view villas and Type: Prime residential apartments development Type: Villa development Type: Prime residential ap
Slide 15: Development Pipeline
DEVELOPMENT COMMENCED HANDOVER EXPECTED COMPLETION: 2021 EXPECTED COMPLETION: 2021 EXPECTED COMPLETION: 2021 EXPECTED COMPLETION: 2021 Yas Acres Alghadeer Reflection Alreeman II Saadiyat Reserve Type: Villa and townhouse Type: Residential land plots Type: Mid-market residential Type: Mid-market resi
Slide 16: Asset Management
MANAGEMENT Retail Residential Commercial Hospitality Number of properties¹ 32 12 15 20 1,236 retail units 5,580 units 273 units 2,930 keys Leasable area (485,548 sqm GLA) (824,915 sqm GLA) (318,074 sqm GLA) (436,313 sqm GLA) 88% Portfolio occupancy¹ 88% 90% 46% (incl. Yas Mall 87%) WAULT¹ 3.0 years
Slide 17: Financial Statements
Profit and loss Balance sheet AED millions Q2 2020 Q2 2019 AED millions 30-Jun-20 31-Dec-19 STATEMENTS Revenue 2,007 1,656 Property, plant and equipment 3,392 3,505 Direct costs (1,291) (987) Investment properties 16,677 16,782 Gross profit 716 669 DWIP & Inventories 8,589 8,397 Gross profit Margin
Slide 18: Quarterly Segmental Analysis
Q2 2020 recurring revenues of AED 625 million (Q2 2019: AED 806 million; Q1 2020: AED 801 million) ¹ Quarterly Segmental Revenue Performance 1,033 AED Millions 652 683 437 418 393 392 383 317 SEGMENTAL 232 135 141 125 40 41 Investment Properties Hospitality & Leisure Adjacent Businesses Development
Slide 19: HY Segmental Analysis
HY 2020 recurring revenues of AED 1,427 million (HY 2019: AED 1,664 million) ¹ Segmental Revenue Performance 1,716 1,344 AED Millions 801 859 807 709 SEGMENTAL 345 357 181 67 Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Property Development ANALYSIS HY 2020
Slide 20: Government Stimulus Initiatives
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 21: Government Policy Reform
Abu Dhabi Government initiatives Energy industry plans Federal announcements POLICY REFORM ▪ ‘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 busi
Slide 22: 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 Q2 & HY 2020 Results 21