Alandalus Property Co. · TADAWUL:4320
Alandalus Property — Q1 2024 Earnings Presentation
32 slides from Alandalus Property's earnings presentation, 2024
Slide 1: Investor Presentation Q1 2024
Alandalus Property Q2 2023 Investor Presentation Q1- 2024
Slide 2: Disclaimer
Disclaimer Alandalus Property Q1 2024 The information contained in this presentation is subject to change without further notice, its accuracy is not guaranteed, and it may not contain all material information concerning the company. Neither we nor our advisors make any representation regarding, and
Slide 3: Contents
Contents Alandalus Property Q1 2024 Overview 4 Operational Performance 12 Financial Performance 20 3
Slide 4: Overview
Overview Alandalus Property Q2 2023 4
Slide 5: Alandalus Property is a pioneering Tadawul-listed real estate company
Change picture Alandalus Property Q1 2024 Alandalus Property is a pioneering Tadawul-listed real estate company involved in the investment, development and operation of income- generating properties across the Kingdom of Saudi Arabia
Slide 6: Mission and Vision
Mission To develop and operate unique and compelling destinations differentiated by engaging guests, customers and communities through experiences that foster loyalty, frequency of visits and lifetime value which ultimately drive and sustain unparalleled growth Vision To become the most admired and
Slide 7: Q1 2024 Performance at a Glance
Q1 2024 Performance at a Glance Alandalus Property Q1 2024 >6.4m 53m 61% Total Mall Footfall Revenue (SAR) Gross Profit Margin 94% 45% 62% Avg Occupancy Rate of Operating Profit Margin EBITDA Margin Regional Malls Portfolio*
Slide 8: Commercial Sectors
Commercial Sectors Alandalus Property Q1 2024 RETAIL HOSPITALITY OFFICES HEALTHCARE Super Regional Regional Strip Malls Malls Malls Al Andalus Salama West Jeddah MallHotel Tower Hospital QBIC Building 8
Slide 9: Strategic Objectives
Strategic Objectives Alandalus Property Q1 2024 Each business unit has a common set of strategic objectives that drive operations and functional focus Stakeholder Operational Project Strategic Investments Engagement Performance Acquisition & Partnerships Collaborate with all Drive footfall by Identi
Slide 10: Our Six Pillar Strategy to Enhance Value & Generate Growth
Alandalus Property Our Six Pillar Strategy to Enhance Value & Generate Growth Q1 2024 Pillar s Retail Food & Interactive Neighboring Entertainment Services offerings Beverage Engagement Developments • Partner with key • Distinctive with • Unique, • Leverage • Physical and • Locate new retail houses
Slide 11: Commercial Principles
Commercial Principles Alandalus Property Q1 2024 Assets should always be Retail and hospitality properties operative, never idle developed as standalone or mixed-use; healthcare properties developed only as mixed-use A healthy balance sheet APC not vertically integrated with liquid assets and low wi
Slide 12: Operational Performance
Operational Alandalus Property Q2 2023 Performance
Slide 13: Retail
Retail Alandalus Property Q1 2024 TYPE # OF MALLS GLA TOTAL FOOTFALL Super Regional 3 263k 5.1M Malls Regional Malls 1 48k 1.3M Strip Malls 4 28k N/A 13
Slide 14: Hospitality
Hospitality Alandalus Property Q1 2024 Profile Profile Alandalus Mall hotel Location: Jeddah Area: 28,255 sqm Ownership: Al Ahli REIT Fund I (68.73% APC) Operated by: Alandalus Property. Occupancy Rate: 73.08% RevPAR: SAR 267.95 14
Slide 15: Offices: Salama Tower
Offices Alandalus Property Q1 2024 Profile Salama Tower Location: Jeddah Net Leasable 31,420 sqm Area: Ownership: Al Ahli REIT Fund I (68.73% APC) Annual Rental SAR 23 million without Value: including VAT Rental Period: 5 years since AUG 2019 15
Slide 16: Offices: Qbic Plaza
Offices Alandalus Property Q1 2024 Profile Qbic Plaza Location: Riyadh Net Leasable sqm Area: Ownership: Al Ahli REIT Fund I (68.73% APC) Annual Rental SAR 21.6 Million without Value: including VAT Rental Period: 3 years since JUN 2023 16
Slide 17: Offices: Yasmeen Alandalus Tower
Offices Alandalus Property Q1 2024 Profile Yasmeen Alandalus Tower Location: Riyadh Net Leasable 9,838 sqm Area: Ownership: APC 100% Annual Rental SAR 19.9 Million without Value: including VAT Rental Period: 5 years Starting from July 2024 17
Slide 18: Ongoing Investments
Ongoing Investments Alandalus Property Q1 2024 Alandalus Mall Expansion ▪ Jeddah Location: ▪ Adding an external space for food and Type: beverage in addition to a parking building Area: 15000 m2 Ownership: ▪ Owned by AlAhli REIT Fund (1) where APC owns 68.73% of its stakes Total expected project cos
Slide 19: Ongoing Investments
Ongoing Investments Alandalus Property Q1 2024 Al-Sawari District Land Project Location: ▪ Jeddah Type: ▪ BOD still studying the best investment for the land Area: 130,477 sqm Ownership: ▪ Sorouh Al-Marakez (25% APC) Umm Jurfan Land Project ( Makkah Park ) Location: ▪ Makkah Type: ▪ It is expected t
Slide 20: Financial Performance
Financial Alandalus Property Q1 2024 Performance 20 APC©
Slide 21: Revenue
Revenue Alandalus Property Q1 2024 220 +5.5 % 215 (SAR Millions) Revenue 214 216 176 168 165 53 m 100% -2.7 % 53.0 Retail 54.5 m 69.7% m Hospitality Q1 8.8% 21.5% Offices 0 2018 2020 2021 2023 Q1 2024 Q1 2024 2019 2022 21 APC©
Slide 22: Gross Income & Margin
Gross Income & Margin Alandalus Property Q1 2024 Gross Margin (%) Gross Income (SAR Million) 150 100% +8% 68% 66% 64% 100 61% 57% 58% 57% Avg: 61.5% Gross Margin (SAR Millions) Gross Income (%) 145.0 142.4 137.7 50 102.4 95.7 93.7 -9 % 32 .2 m 35.4 m Q1 Q1 0 0% 2018 2019 2020 2021 2022 2023 Q1 2024
Slide 23: Operating Income & Margin
Operating Income & Margin Alandalus Property Q1 2024 Operating Margin (%) Operating Income (SAR Million) 150 100% 2.9% 100 Operating Income 59% 59% Operating Margin 58% (SAR Millions) 56% 49.6% Avg: 50.8 % 44.6% 50% (%) 125.1 127.3 50 104.2 29% 106.8 92.6 -23.2 % 48.3 30.8 m 23.6 m Q1 Q1 0 0% 2018 2
Slide 24: EBITDA & Margin
EBITDA & Margin Alandalus Property Q1 2024 EBITDA Margin (%) EBITDA (SAR Million) 150% 4.9 % 150 100% EBITDA Margin EBITDA Income (SAR Millions) 100 72% 74% 74% (%) 67% 159.2 160.3 65.5% 62.4% Avg 66.3%* 48% 141.0 127.3 110.9 50% 50 81.2 -15.3 % 39 m 33 m Q1 Q1 0 0% 2018 2019 2020 2021 2022 2023 Q1
Slide 25: Net Income (shareholders) & Margin
Net Income (shareholders) & Margin Alandalus Property Q1 2024 Net Margin (%) Net Income (SAR Million) 150 100% 100 - 5.4% (SAR Millions) Net Margin Net Income 52% (%) 44.2% 50% 41% 43.1% Avg: 32.4% 50 1 23.5% 64.8 48.0 66.8 48.0 11.8% 12.4% 2 36.4 -66.9 % 14.3 14.3 m 4.7 m 0 0% 2018 2020 2021 2022 Q
Slide 26: Return on Equity (ROE)
Return on Equity (ROE) Alandalus Property Q1 2024 6.42 6.22 5.8 4.1 Avg: 4.3% 3.38 2.53 1.3 0% 2018 2019 2020 2021 2022 2023 2024 26 APC©
Slide 27: Return on Assets (ROA)
Return on Assets (ROA) Alandalus Property Q1 2024 5.2% 4.4% 4.6% 4.3% Avg: 3.3 % 2.3% 1.8% 0.9% 0% 2018 2019 2020 2021 2022 2023 2024 27 APC©
Slide 28: Funds From Operations (FFO)
Funds From Operations (FFO) Alandalus Property Q1 2024 FFO % of Revenue FFO (SAR Million) 9.6 % 100% 150 77.4% 85% 74.2% 61% 70% Avg: 59.1 % 52.8% 100 181.6 50% 159.6 36% 34.8% 117.7 114.1 50 100.7 63.6 18 0 0% 2018 2019 2020 2021 2022 2023 Q1 2024 28 APC©
Slide 29: Liquidity
Liquidity Alandalus Property Q1 2024 Net Working Capital -17% 185,864 192,460 212,254 166,976 160,532 142,855 118,231 2018 2019 2020 2021 2022 2023 Q1 2024 Current Ratio 2.6 3.00 3.07 2.72 2.56 2.64 2.16 1.85 2018 2019 2020 2021 2022 2023 Q1 2024 29 APC©
Slide 30: Leverage
Leverage Alandalus Property Q1 2024 Debt-Equity Ratio 0.84 0.89 0.60 0.64 0.64 0.37 0.07 2018 2019 2020 2021 2022 2023 Q1 2024 * Debt-Assets Ratio 0.46 0.47 0.38 0.39 0.39 0.27 0.07 2018 2019 2020 2021 2022 2023 Q1 2024 * 30 Note: * Debt-Equity ratio and Debt-Asset ratio would be 79% and 42%, respec
Slide 31: Consolidated Balance Sheet as at Mar 2024
Consolidated Balance Sheet as at 31 Mar 2024 Alandalus Property Q1 2024 Total Assets (SAR million) Total Liabilities & Equity (SAR million) 2,044 2,268 2,044 2,268 106 139 513 532 705 927 1,235 1,478 1,074 1,053 297 257 159 149 2023 2024 2023 2024 Investments Fixed Assets Current Assets Current Liab
Slide 32: For more details on Alandalus Property
For more details on Alandalus Property, please visit http://www.alandalus.com.sa For further information, contact: Abdulrahman Al Shaye , Aziz Faeaj Phone: +966 11 920014541 Ext. 888 Email: [email protected]