Alandalus Property Co. · TADAWUL:4320
Alandalus Property — Investor Presentation (2019)
31 slides from Alandalus Property's investor presentation, 2019
Slide 1: Investor Presentation FY 2019
Alandalus Property FY 2019 Investor Presentation FY 2019 1
Slide 2: Disclaimer
Disclaimer Alandalus Property FY 2019 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 FY 2019 Overview 4 Operational Performance 13 Financial Performance 18 3
Slide 4: Overview
Overview Alandalus Property FY 2019 4
Slide 5: Alandalus Property is a pioneering Tadawul-listed real estate company
Change picture Alandalus Property FY 2019 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: 2019 Achievements
2019 Achievements Alandalus Property FY 2019 ▪ Launch of Al Marwa Centre in Jeddah ▪ Expansion of Offices segment ▪ Awarded Best Retail Developer for the Year 2019 Award by Forbes Middle East ▪ Hayat Mall awarded Excellence Award for Performance Improvement through the Digital Transformation Initiat
Slide 8: FY 2019 Performance at a Glance
FY 2019 Performance at a Glance Alandalus Property FY 2019 >30m 176m 58% Total Mall Footfall Revenue (SAR) Gross Profit Margin 98% 59% 72% Avg Occupancy Rate of Operating Profit Margin EBITDA Margin Regional Malls Portfolio 8
Slide 9: Commercial Sectors
Commercial Sectors Alandalus Property FY 2019 RETAIL HOSPITALITY OFFICES HEALTHCARE Super Regional Regional Community Malls Malls Malls West Jeddah Salama Tower Hospital Under development 9
Slide 10: Strategic Objectives
Strategic Objectives Alandalus Property FY 2019 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 11: Our Six Pillar Strategy to Enhance Value & Generate Growth
Alandalus Property Our Six Pillar Strategy to Enhance Value & Generate Growth FY 2019 Pillars Retail Food & Interactive Neighboring Entertainment Services offerings Beverage Engagement Developments • Partner with key • Distinctive with • Unique, • Leverage • Physical and • Locate new retail houses m
Slide 12: Commercial Principles
Commercial Principles Alandalus Property FY 2019 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 13: Operational Performance
Operational Alandalus Property FY 2019 Performance 13
Slide 14: Retail
Retail Alandalus Property FY 2019 TYPE # OF MALLS GLA TOTAL FOOTFALL Super Regional 2 184k 25million Malls Regional Malls 1 47k 5.5million Community Malls 4 27k N/A 14
Slide 15: Hospitality
Hospitality Alandalus Property FY 2019 Profile Staybridge Suites FY 2019 Performance Location: Jeddah Occupancy Rate: 43% Area: 28,255 sqm RevPAR: SAR 239 Ownership: Al Ahli REIT Fund I (68.73% APC) Operated by: Intercontinental Hotels Group (IHG)
Slide 16: Offices
Offices Alandalus Property FY 2019 Profile Salama Tower Location: Jeddah Net Leasable 28,255 sqm Area: Ownership: Al Ahli REIT Fund I (68.73% APC) Annual Rental SAR 23 million Value: Rental Period: 5 years
Slide 17: Ongoing Developments
Ongoing Developments Alandalus Property FY 2019 Al Jawhara Mall Location: ▪ Jeddah Type: ▪ Super Regional Mall Area: ▪ 124,880 sqm Ownership: ▪ Al-Jawhara Al-Kubra (25% APC) Total expected project cost: ▪ SAR 873 million Expected Opening: ▪ Q1 2022 West Jeddah Hospital Location: ▪ Jeddah Type ▪ Heal
Slide 18: Financial Performance
Financial Alandalus Property FY 2019 Performance 18
Slide 19: Revenue
Revenue Alandalus Property FY 2019 180 176 100% +7% +11.4% 84.0% Retail (SAR Millions) Revenue 176 165 147 127 132 103 10.0% Hospitality 6.0% Offices 0 2014 2015 2016 2017 2018 2019 2019 19
Slide 20: Revenue by Business Segment
Revenue by Business Segment Alandalus Property FY 2019 Retail Hospitality Offices 149 139 140 +6.2% 126 131 102 (SAR Millions) Revenue 24 17 -30.7% 7 10 0 1 0 1 0 1 1 1 +939.5% 2014 2015 2016 2017 2018 2019 20
Slide 21: Gross Income & Margin
Gross Income & Margin Alandalus Property FY 2019 Gross Margin (%) Gross Income (SAR Million) 150 100% +7.7% 100 69% 62% 59% 6Y+9.3% Avg 58% 57% 58% Gross Margin (SAR Millions) Gross Income 6Y Avg: 60.5% (%) 50 102.4 93.7 82.0 84.4 70.7 75.1 0 0% 2014 2015 2016 2017 2018 2019 21
Slide 22: Operating Income & Margin
Operating Income & Margin Alandalus Property FY 2019 Operating Margin (%) Operating Income (SAR Million) 150 +1.3% 100% 95% 82% 6Y Avg: 73.8% 76% 74% 100 +12.6% Operating Income Operating Margin (SAR Millions) 59% 56% 50% (%) 104.0 108.8 104.2 50 97.8 99.9 92.6 0 0% 2014 2015 2016 2017 2018 2019 22
Slide 23: EBITDA & Margin
EBITDA & Margin Alandalus Property FY 2019 EBITDA Margin (%) EBITDA (SAR Million) 150 150% +3.2% 127.0 122.0 116.6 +14.5% 108.2 110.7 110.9 100 105% 100% EBITDA Margin EBITDA Income (SAR Millions) 92% 84% 84% 83% 6Y Avg (%) 72% 67% 50 50% 0 0% 2014 2015 2016 2017 2018 2019 23
Slide 24: Net Income (shareholders) & Margin
Net Income (shareholders) & Margin Alandalus Property FY 2019 Net Margin (%) Net Income (SAR Million) 150 100% -5.7% 85% 81% 74% 100 70% 6Y Avg: 67% (SAR Millions) Net Margin Net Income (%) 50% 52% 118.41 +35.1% 50 41% 86.8 94.1 91.8 64.8 48.02 0 0% 2014 2015 2016 2017 2018 2019 1 – Includes Extraor
Slide 25: Return on Equity (ROE)
Return on Equity (ROE) Alandalus Property FY 2019 11.7% 11.3% 10.9% 10.1% 6Y Avg: 9.0% 5.8% 4.1% 0% 2014 2015 2016 2017 2018 2019 25
Slide 26: Return on Assets (ROA)
Return on Assets (ROA) Alandalus Property FY 2019 8.4% 8.5% 8.3% 7.9% 6Y Avg: 6.7% 4.0% 3.1% 0% 2014 2015 2016 2017 2018 2019 26
Slide 27: Funds From Operations (FFO)
Funds From Operations (FFO) Alandalus Property FY 2019 FFO % of Revenue FFO (SAR Million) -4.9% 101% 150 100% 93% 88% 80% 6Y Avg: 76.7% 100 61% -36.9% 50% 128.4 122.6 129.7 36% 50 100.7 81.7 63.6 0 0% 2014 2015 2016 2017 2018 2019 27
Slide 28: Liquidity
Liquidity Alandalus Property FY 2019 Net Working Capital +11.3% 279,398 166,976 185,864 -51,132 -34,155 -61,189 2014 2015 2016 2017 2018 2019 Current Ratio 1.64 3.00 2.72 2.50 0.45 0.69 0.49 2014 2015 2016 2017 2018 2019 28
Slide 29: Leverage
Leverage Alandalus Property FY 2019 Debt-Equity Ratio 0.34 0.37 0.32 0.25 0.18 0.07 2014 2015 2016 2017 2018 2019* Debt-Assets Ratio 0.26 0.27 0.24 0.20 0.17 0.07 2014 2015 2016 2017 2018 2019* Note: * Debt-Equity ratio and Debt-Asset ratio would be 27% and 19%, respectively, if the impact of IFRS 1
Slide 30: Consolidated Balance Sheet as at Dec 2019
Consolidated Balance Sheet as at 31 Dec 2019 Alandalus Property FY 2019 Total Assets (SAR million) Total Liabilities & Equity (SAR million) 1,446 1,799 1,446 1,799 84 108 15 465 494 383 1,136 1,041 702 1,109 250 294 212 200 2018 2019 2018 2019 Investments Fixed Assets Current Assets Current Liabilit
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