Alandalus Property Co. · TADAWUL:4320
Alandalus Property — Investor Presentation (March 2024)
33 slides from Alandalus Property's investor presentation, March 2024
Slide 1: Investor Presentation YE 2023
Alandalus Property Q2 2023 Investor Presentation YE 2023
Slide 2: Disclaimer
Disclaimer Alandalus Property YE 2023 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 YE 2023 Overview 4 Operational Performance 12 Financial Performance 21 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 YE 2023 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: YE 2023 Performance at a Glance
YE 2023 Performance at a Glance Alandalus Property YE 2023 >15.6m 215m 64% Total Mall Footfall Revenue (SAR) Gross Profit Margin 93% 50% 65% Avg Occupancy Rate of Operating Profit Margin EBITDA Margin Regional Malls Portfolio*
Slide 8: Commercial Sectors
Commercial Sectors Alandalus Property YE 2023 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 YE 2023 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 YE 2023 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 YE 2023 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 YE 2023 TYPE # OF MALLS GLA TOTAL FOOTFALL Super Regional 3 263k 13M Malls Regional Malls 1 48k 2.6M Strip Malls 4 28k N/A 13
Slide 14: Hospitality
Hospitality Alandalus Property YE 2023 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: 60.96% RevPAR: SAR 200.51 14
Slide 15: Offices: Salama Tower
Offices Alandalus Property YE 2023 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 Value: Rental Period: 5 years since AUG 2019 15
Slide 16: Offices: Qbic Plaza
Offices Alandalus Property YE 2023 Profile Qbic Plaza Location: Riyadh Net Leasable sqm Area: Ownership: Al Ahli REIT Fund I (68.73% APC) Annual Rental SAR million Value: Rental Period: 3 years since JUN 2023 16
Slide 17: Offices: Yasmeen Alandalus Tower
Offices Alandalus Property YE 2023 Profile Yasmeen Alandalus Tower Location: Riyadh Net Leasable 9,838 sqm Area: Ownership: APC 100% Annual Rental Still working on it to Value: study better Rental offers for the building Rental Period: 17
Slide 18: Ongoing Investments
Ongoing Investments Alandalus Property YE 2023 The Vallage 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 Opening: ▪ launched Q3 2023 West Jeddah Hospital Location: ▪ Jeddah Type ▪ Health
Slide 19: Ongoing Investments
Ongoing Investments Alandalus Property YE 2023 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: ▪ A unique commerc
Slide 20: Ongoing Investments
Ongoing Investments Alandalus Property YE 2023 Alandalus Mall Expansion Location: ▪ Jeddah Type: ▪ Adding an external space for food and 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 21: Financial Performance
Financial Alandalus Property YE 2023 Performance
Slide 22: Revenue
Revenue Alandalus Property YE 2023 220 +6.6 % 215 m 100% 215 216 71.5% Retail (SAR Millions) Revenue 214 -0.4 % 176 168 165 147 7.2% Hospitality 21.3% Offices 0 2017 2018 2019 2020 2021 2022 2023 2023 22 APC©
Slide 23: Gross Income & Margin
Gross Income & Margin Alandalus Property YE 2023 Gross Margin (%) Gross Income (SAR Million) 150 100% + 8.5 % 68% 66% 100 64% 58% 57% 58% 57% Gross Margin (SAR Millions) 142.4 Gross Income 138 7Y Avg: 61.0 % (%) 145.0 50 102.4 95.7 -3.3 % 93.7 84.4 0 0% 2017 2018 2019 2020 2021 2022 2023 23 APC©
Slide 24: Operating Income & Margin
Operating Income & Margin Alandalus Property YE 2023 Operating Margin (%) Operating Income (SAR Million) 150 100% -0.3% 74% 100 Operating Income 59% 58% 59% Operating Margin (SAR Millions) 56% 50% 127.3 50% (%) 7Y Avg: 55.0% 125.1 108.8 104.2 29% 107 50 92.6 -16.1 % 48.3 0 0% 2017 2018 2019 2020 202
Slide 25: EBITDA & Margin
EBITDA & Margin Alandalus Property YE 2023 EBITDA Margin (%) EBITDA (SAR Million) 150% 2.4 % 150 100% 141 EBITDA Margin 160.3 EBITDA Income (SAR Millions) 100 83% 74% 69.4%* 72% 7Y Avg (%) 67% 74% 65.5% 159.2 127.3 48% 122.0 -12.1 % 50% 110.9 50 81.2 0 0% 2017 2018 2019 2020 2021 2022 2023 25 APC©
Slide 26: Net Income (shareholders) & Margin
Net Income (shareholders) & Margin Alandalus Property YE 2023 Net Margin (%) Net Income (SAR Million) 150 100% 81% 100 - 17.8% (SAR Millions) Net Margin Net Income 52% 50% (%) 41% 44.2% 43.1% 7Y Avg: 42.2% 1 118.4 66.8 50 23.5% 2 64.8 68.0 48.0 11.8% 3 -45.5 % 36.4 48.0 0 0% 2017 2018 2019 2020 2021
Slide 27: Return on Equity (ROE)
Return on Equity (ROE) Alandalus Property YE 2023 10.9 6.42 6.23 5.8 7Y Avg: 5.4% 4.1 3.38 1.3 0% 2017 2018 2019 2020 2021 2022 2023 27 APC©
Slide 28: Return on Assets (ROA)
Return on Assets (ROA) Alandalus Property YE 2023 8.3% 4.4% 5.2% 4.6% 4.3% 7Y Avg: 4.3% 2.9% 0.9% 0% 2017 2018 2019 2020 2021 2022 2023 28 APC©
Slide 29: Funds From Operations (FFO)
Funds From Operations (FFO) Alandalus Property YE 2023 FFO % of Revenue FFO (SAR Million) 3.5 % 100% 88% 150 74.2% 7Y Avg: 66.7 % 85% 61% 70% 52.8% 100 181.6 50% 159.6 36% 129.7 117.7 114.1 50 100.7 63.6 0 0% 2017 2018 2019 2020 2021 2022 2023 29 APC©
Slide 30: Liquidity
Liquidity Alandalus Property YE 2023 Net Working Capital -32.7% 279,398 185,864 192,460 212,254 166,976 160,532 142,855 2017 2018 2019 2020 2021 2022 2023 Current Ratio 2.7 3.00 3.07 2.50 2.72 2.56 2.64 2.16 2017 2018 2019 2020 2021 2022 2023 30 APC©
Slide 31: Leverage
Leverage Alandalus Property YE 2023 Debt-Equity Ratio 0.84 0.60 0.64 0.64 0.37 0.18 0.07 2017 2018 2019 2020 2021 2022 2023 * Debt-Assets Ratio 0.46 0.38 0.39 0.39 0.27 0.17 0.07 2017 2018 2019 2020 2021 2022 2023 * 31 Note: * Debt-Equity ratio and Debt-Asset ratio would be 75% and 41%, respectively
Slide 32: Consolidated Balance Sheet as at December 2023
Consolidated Balance Sheet as at 31 December 2023 Alandalus Property YE 2023 Total Assets (SAR million) Total Liabilities & Equity (SAR million) 2,055 2,259 2,055 2,259 102 124 515 527 702 907 1,225 1,466 1,082 1,071 314 266 168 156 2022 2023 2022 2023 Investments Fixed Assets Current Assets Current
Slide 33: 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]
Alandalus Property — Investor Presentation (March 2024) on 6ix