Al Dar Properties · ADX:ALDAR
Al Dar Properties — Aldar Properties PJSC — Q1 2016 Earnings Presentation
18 slides from Al Dar Properties's earnings presentation, May 10, 2016
Slide 1: Q1 2016 Results Presentation
Q1 2016 RESULTS PRESENTATION 10 May 2016 ALDAR PROPERTIES PJSC HSBC MENAT & LATAM CONFERENCE
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 at a Glance
ALDAR AT A GLANCE • Leading Abu Dhabi real estate developer and asset manager – c.23,000 units delivered since inception • Listed on the Abu Dhabi Stock exchange since 2005 • Market capitalisation of AED20.5bn² • Sizeable land bank – 75 million sqm in Abu Dhabi • Large and diverse recurring revenue
Slide 4: Q1 2016 Financial Highlights
Q1 2016 FINANCIAL HIGHLIGHTS +15% +4% AED 654 million AED 1,232 million Net Profit¹ Revenue¹ +10% AED 6.6bn AED 403 million Recurring revenue Gross Cash gross profit position 43% AED 4.3bn Gross profit Sales backlog margin as at 31 Mar 2016 ¹ Q1 2015 figures reflect the adoption of IFRS 15 revenue r
Slide 5: Business Overview
BUSINESS OVERVIEW Property development management Property Development * Current projects — Ansam, Hadeel, Nareel, Merief, Meera, Mayan and Yas Acres Development Management * Development management projects including Abu Dhabi Plaza Kazakhstan * National Housing Initiative — no active projects Asset
Slide 6: Land Bank
LAND BANK 75 million sqm of land development across Emirate of Abu Dhabi 6
Slide 7: Current Development Pipeline
CURRENT DEVELOPMENT PIPELINE Project Location Launch Details Expected completion Ansam Yas Island 2014 Prime apartments and villas 2017 Hadeel Al Raha Beach 2014 Prime apartments and villas 2017 Nareel Abu Dhabi Island 2015 High-end villa plots 2017 Merief Khalifa City 2015 Villa plots 2017 Meera Sh
Slide 8: Launch of Yas Acres
LAUNCH OF YAS ACRES • AED 6 billion GDV development • 1,315 unit golf and waterfront development on the North of Yas Island • Located within the fully-owned North Yas land bank • Wide offering – from 2-bed townhouses up to 6-bed golf course villas • High quality, investment zone villa previously una
Slide 9: Asset Management Highlights
ASSET MANAGEMENT HIGHLIGHTS 98% trading occupancy at Yas Mall (31 Mar 15: 85%) 97% occupancy across residential portfolio (31 Mar 15: 96%) 95% occupancy across office portfolio (31 Mar 15: 90%) 81% Q1 2016 occupancy across hotel portfolio (Q1 2015: 86%) 9
Slide 10: NOI Growth Ahead
NOI GROWTH AHEAD 2,200 1,505 1,600 +40% 1,010 700 Q1 2016: 403m 2013FY 2014FY 2015FY 2016E 2020E • Significant growth over 2014 and 2015 as key assets stabilised • 2016 guidance remains at AED 1.6 billion • Target over 40% growth in NOI by 2020 through asset maturity and AED 3 billion investment pla
Slide 11: Summary
SUMMARY Solid set of results • Net profit up 15% to AED 654 million • 10% growth in recurring revenues gross profit Stabilised recurring revenue asset base set to grow • Steady operational occupancy across all key asset classes • AED 3 billion investment plan in place – 30% committed to date Positiv
Slide 12: Appendix
Q1 2016 RESULTS PRESENTATION 10 May 2016 APPENDIX
Slide 13: Development Summary Table – 31 March 2016
DEVELOPMENT SUMMARY TABLE – 31 MARCH 2016 Project Location Recognition Launch Q1 2016 Total as at 31 Mar 2016 Revenue Expected date Sold Sold unit sales Sold Sold unit sales Units % sold recognition completion units ¹ value (AEDm) ² units ¹ value (AEDm) ² available % Ansam Yas Island Over-time 2014
Slide 14: Profit & Loss
PROFIT & LOSS AED MILLIONS Q1 2016 Q1 2015 ¹ Revenues 1,232 1,179 Direct costs (705) (581) Gross profit 527 598 Gross profit Margin 43% 51% SG&A expenses (102) (88) Depreciation and Amortization (48) (51) Gain on disposals 15 8 Share of profit from associates/ JVs 18 19 Other Income 253 148 Finance
Slide 15: Balance Sheet
BALANCE SHEET AS AT AS AT AED MILLIONS 31 MAR 2016 31 DEC 2015 Property, plant and equipment 2,985 2,936 Investment properties 15,477 15,570 Development work in progress 2,795 2,745 Inventory 2,003 2,030 Receivables 5,617 5,535 Cash 6,579 6,260 Other Assets 1,041 1,065 Total Assets 36,497 36,141 Equ
Slide 16: Segmental Reporting
SEGMENTAL REPORTING Q1 2016 recurring revenues of AED 748 million (Q1 2015: AED 703 million)¹ 500 441 400 390 Q1 2016 Segmental Revenue Performance 356 AED Millions Q1 2016 Q1 2015 291 279 300 220 200 167 147 100 38 28 37 18 0 Investment Properties Hospitality & Leisure Operative Villages Adjacent B
Slide 17: Government Receivables
GOVERNMENT RECEIVABLES AED MILLIONS TRANSACTION (AED MILLIONS) Q2-Q4 2016 2017 TOTAL Sale of F1 Race Track 348 348 696 Sale of Al Raha Beach Land 1 950 - 950 Shams Infrastructure Reimbursement 2 300 - 300 1,598 348 1,946 1 Cash flow timing depends on handover of related assets 2 Excludes AED 0.4 bil
Slide 18: Thank You
Q1 2016 RESULTS PRESENTATION 10 May 2016 THANK YOU
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