Al Dar Properties · ADX:ALDAR
Al Dar Properties — Investor Presentation (March 2018)
28 slides from Al Dar Properties's investor presentation, March 2018
Slide 1: March 2018
MARCH 2018 Aldar Properties @aldartweets aldar_properties
Slide 2: Disclaimer
DISCLAIMER This disclaimer governs the use of this presentation. You must not rely on the information in the presentations and alternatively we recommend you to seek advice from an appropriately qualified professional. If you have any specific questions about any matter in this presentation you shou
Slide 3: Aldar Properties
Aldar Properties @aldartweets aldar_properties
Slide 4: Abu Dhabi economy overview
Strong ‘AA’ rated economy Net assets 282% of GDP – one of the highest globally1 National oil reserves constitutes 6% of total global oil reserve GDP³ GDP per capita $72k² Total GDP growth projected at 3% pa out to 2020² Pioneers in non-hydrocarbon economic diversification in the region
Slide 5: Oil & Hydrocarbon Sector Update
Oil & Hydrocarbon Sector Update Key global oil producer and exported – 7th largest oil reserve² Abu Dhabi plans to raise oil-output capacity to 3.5 million barrels a day by the end of 2018¹ ADNOC announced a $109 billion CapEx plan expansion to its international downstream projects and gas exp
Slide 6: Non-Oil sector and Economic Diversification
Non-Oil sector and Economic Diversification Non-oil sector is growing at 3% annually¹ Tourism Mega projects to drive tourism to the capital (Louvre Museum, Warner Bros, Yas South, Sea World, Saadiyat Cultural District) Continued growth over the past 10 years with the total number of hotel gu
Slide 7: Aldar Properties
Aldar Properties @aldartweets aldar_properties
Slide 8: Abu Dhabi real estate market supply and demand
Q4 2016 Q4 2017 Residential Hotel Rental Rents Residential Rental Rents Growth Falling Office Growth Falling Slowing Office Slowing Hotel* Rental Rents Rental Rents Growth Bottoming Growth Bottoming Accelerating Out Accelerating Out * Hotel clock reflects the movement of RevPAR Source: JLL Q4 2017 A
Slide 9: Leading Abu Dhabi developer and asset manager
• S&P rating: BBB Leading Abu Dhabi developer and asset manager behind the $ 4.6¹ billion market • Moody’s rating: Emirate’s most iconic and complex projects cap Baa2 $1.4 billion $ 425m NOI (2017) investment plan Govt partner of $5 billion AM assets choice Incorporated and listed on the Abu Dha
Slide 10: Delivering desirable destinations that create long-term shareholder value
DELIVERING DESIRABLE DESTINATIONS THAT CREATE LONG-TERM SHAREHOLDER VALUE Development Management Asset Management Monetise landbank Maximise value of assets $5 billion in existing $425 million gross 75 million sqm land bank $1 billion sales guidance operating assets profit (NOI) Focus on destination
Slide 11: Operational and financial highlights
Launch and sale of The Bridges on Launch and sale of Water’s Edge Acquisition of International Commenced handover of Ansam Reem Island on Yas Island Tower and Al Hadeel OPERATIONAL HIGHLIGHTS FINANCIAL HIGHLIGHTS $953 million full year development sales value $1.7 billion revenue (2016: $1.7 bil
Slide 12: & B= Er ¥ g =
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Slide 13: Where we stand today
Where we stand today Aldar plays a pivotal role in the real estate sector Largest real estate developer in Abu Dhabi - $940 million in 10 current projects 7,000 units launched sales in 2017 Delivering approximately one third of new residential supply $ 1.1 billion revenue 75 million sqm land i
Slide 14: Development sales activity
DEVELOPMENT SALES ACTIVITY Development sales value of $953 million 1,900 units launched in 2017 – ahead of 1,500 unit guidance 83% sold across all Aldar units launched as at 31 December 2017 CONTRACT AWARDS $816 million contract awards in 2017 across Yas Acres, Mayan and The Bridges DEVELOPM
Slide 15: Yas Island, Reem Island, Al Raha Beach
Yas Island Reem Island Al Raha Beach 15
Slide 16: Development projects and units sold
Al Merief: 281 units Nareel: 147 units Meera: 408 units The Bridges: 1,272 units (100% sold) (59% sold) (91% sold) (93% sold) Q4 2017 2018 2019 2020 Ansam: 552 units (93% sold) West Yas: 1,010 units (71% sold) Yas Acres 652 units (66% sold) Water’s Edge: 2,255 units Al Hadeel: 233 units (93% sold) M
Slide 17: Retail, residential, commercial, hospitality assets
RETAIL RESIDENTIAL COMMERCIAL HOSPITALITY ~15-20% of total market High-quality residential ~10% of total Abu Dhabi ~10% of total Abu Dhabi stock under management portfolio across Abu Dhabi market stock market stock 470,000 sqm GLA across 25 4,800 243,000 sqm GLA across 7 2,500 hotel key rooms assets
Slide 18: 2017 NOI breakdown and asset performance
Large and diverse $5 billion asset management business generating $425 2017FY NOI breakdown million of NOI 6% 4% $1.4 billion investment plan in place that will drive both long and short term 31% NOI growth 25% Outperforming wider market across all sectors supported by high quality real estate
Slide 19: Strategic partnership with Emaar
Strategic partnership signed with Emaar in March 2018 Partnership to Co-develop two main destinations in Abu Dhabi (Saadiyat Grove: 2,000 units) and Dubai (Emaar beachfront: 7,000 units), JV is worth $8.1 billion over 5 – 7 years Accelerate growth of Aldar Development business (50% growth in A
Slide 20: Progressive dividend policy
• Progressive dividend over the last six years, Dividend per share supported by growth and stabilization of recurring revenues 12 fils • Formalized asset management and development 11 fils dividend policy provides clear and transparent 10 fils shareholder returns 9 fils • 2017 proposed dividend of 1
Slide 21: Summary: strong development and asset management businesses
Strong development business Develop in infrastructure enabled destinations Tapping into market demand – high quality, mid-market residential New strategic partnership to accelerate growth and diversification outside of Abu Dhabi High quality, diverse asset management business High-quality di
Slide 22: Appendix
Appendix 22
Slide 23: Financial Statements – Profit and Loss
FINANCIAL STATEMENTS – PROFIT AND LOSS AED millions Q4 2017 Q4 2016 2017 FY 2016 FY Revenues 1,869 1,411 6,180 6,237 Direct costs (1,096) (889) (3,525) (3,598) Gross profit 773 552 2,655 2,639 Gross profit Margin 41% 37% 43% 42% SG&A expenses (143) (112) (407) (404) Depreciation and Amortization (48
Slide 24: Financial Statements – Balance Sheet
FINANCIAL STATEMENTS – BALANCE SHEET As at As at AED millions 31 Dec 2017 31 Dec 2016 Property, plant and equipment 2,931 2,986 Investment properties 16,077 15,773 Development work in progress 1,477 1,298 Inventory 2,593 2,449 Receivables 5,353 5,263 Cash 6,885 6,696 Other Assets 1,082 1,096 Total A
Slide 25: Quarterly Segmental Analysis
QUARTERLY SEGMENTAL ANALYSIS Q4 2017 recurring revenues of AED 796 million (Q4 2016: AED 787 million, Q3 2017: AED 666 million) ¹ Q4 2017 Segmental Revenue Performance AED Millions 672 543 493 445 439 421 426 352 343 183 175 92 26 28 23 Investment Properties Hospitality & Leisure Adjacent Businesses
Slide 26: Full Year Segmental Analysis
FULL YEAR SEGMENTAL ANALYSIS 2017 FY recurring revenues of AED 2,851 million (2016 FY: AED 2,945 million) ¹ 2,387 2,128 2017 FY Segmental Revenue Performance 1,723 1,819 AED Millions 1,674 1,371 506 540 150 119 Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Pr
Slide 27: Government Transactions
GOVERNMENT TRANSACTIONS Remaining Remaining cash inflows P&L events Transaction (AEDm) 2018 2019 Total Other income Sale of Al Raha Beach Land ¹ 285 190 475 - Infrastructure recoverables ² 363 256-535 619-898 201-480³ 648 446-725 1,094-1,373 201-480 ¹ Al Raha Beach land plot handed over in Q3 2016 w
Slide 28: Thank You
THANK YOU 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]
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