Al Dar Properties · ADX:ALDAR
Al Dar Properties — Q2 2018 Earnings Presentation
23 slides from Al Dar Properties's earnings presentation, 2018
Slide 1: Aldar Q2 2018 Results Presentation
Q2 2018 Aldar Q2 2018 Results RESULTS PRESENTATION
Slide 2: Disclaimer
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Slide 3: At a Glance
Financial Development Asset Management AT A GLANCE ❑ Revenue up 12% to AED 1.5 billion (Q2 ❑ Q2 Aldar development sales of ❑ Resilient portfolio performance 2017: AED 1.4 billion), supported by AED 372 million including 3 land during quarter contribution of newly acquired plot sales development and
Slide 4: Development Launches
Reflection Alghadeer DEVELOPMENT LAUNCHES ❑ Residential development located on Reem ❑ Launched at CityScape Abu Dhabi 2018 in April Island ❑ Located within Seih Sdeirah land bank, on ❑ First tower launched for sale at the end of border of Dubai March ❑ First phase launched included 611 units ❑ 43% s
Slide 5: Development Overview: Revenue Recognition S-Curve
Illustrative development ‘S-curve’ revenue recognition 100% o Revenue recognised based on progress of DEVELOPMENT Meera Ansam Hadeel Nareel Island Al Merief completion o Development revenue recognition for off- Yas Acres West Yas ¹ plan sales typically follows construction Mayan Jawaher progress Mam
Slide 6: Q2 2018 Asset Management Highlights
Q2 2018 ASSET Q2 2017 NOI split – AED 357 million Q2 2018 NOI split – AED 377 million (9) MANAGEMENT 68 20 91 131 133 HIGHLIGHTS 111 121 123 Retail Residential Commercial Hospitality Adjacent & other Retail Residential Commercial Hospitality Adjacent & other Retail Residential Commercial Hospitality
Slide 7: Strategic Partnership with Emaar
Overview Saadiyat Grove Emaar Beachfront PARTNERSHIP ❑ ❑ MoU signed in March 2018 JV structure to be finalised in STRATEGIC H2 2018 ❑ Will accelerate development pipeline – 9,000 units between first two projects ❑ Partnership will support EMAAR diversification outside of Abu Particulars Detail Parti
Slide 8: Recent Acquisition Overview
ACQUISITION Overview Financial impact ❑ Announced and completed in Q2 2018 ❑ AED 120 million annualized NOI from operating assets OVERVIEW ❑ Combination of operating and development ❑ AED 2.5 billion GDV of projects under development (PUDs) - assets Mamsha and Jawaher, both c.45% complete ❑ Total co
Slide 9: Prudent Capital Management
o New corporate structure will prepare development and asset management to operate independently and designed to drive greater operational and capital efficiency o Prepare Aldar for this new phase of accelerated growth, in line with strategy MANAGEMENT o Separate debt and dividend policies for both
Slide 10: Summary
Development ❑ AED 4.0 billion development sales backlog provides visibility on future development revenues ❑ Emaar JV and recent asset acquisition support growth through expanded and more diverse development pipeline Asset Management ❑ Resilient performance across all key sectors SUMMARY ❑ NOI growt
Slide 11: Appendix
APPENDIX Aldar Q2 2018 Results
Slide 12: Development Summary
Project Location Launch Total as at 30 Jun 2018 * Expected completion date Sold Sold unit sales Units launched % sold Revenue units ¹ value (AEDm) ¹ backlog Ansam Yas Island 2014 511 877 547 93% - Completed in Q4 2017 DEVELOPMENT Hadeel Al Raha Beach 2014 223 467 233 96% - Completed in Q4 2017 Naree
Slide 13: Development Pipeline: Handovers
COMMENCED HANDOVER Nareel Island Type: Exclusive land plots for villa development Land: Non-investment zone DEVELOPMENT Location: Nareel Island, off Abu Dhabi Island Units launched: 161 Sold as at 30 Jun 2018: 59% HANDED OVER Ansam Type: Prime residential apartments Land: Investment zone PIPELINE Lo
Slide 14: Development Pipeline: Mamsha, Meera, Mayan
EXPECTED COMPLETION: 2019 EXPECTED COMPLETION: Q4 2018 Mamsha Meera Type: Beachfront residential apartments Type: Residential apartments Land: Investment zone Land: Investment zone Location: Saadiyat Island Location: Reem Island Units launched: 461 Units launched: 408 Sold as at 30 Jun 2018: 31% Sol
Slide 15: Development Pipeline: Bridges, Reflection, Water's Edge
EXPECTED COMPLETION: 2020 The Bridges Type: Mid-market residential apartments Land: Investment zone Location: Reem Island Units launched: 636 Sold as at 30 Jun 2018: 93% EXPECTED COMPLETION: 2021 Reflection Type: Mid-market residential apartments Land: Investment zone Location: Reem Island Units lau
Slide 16: Financial Statements
Profit and loss Balance sheet As at As at AED millions AED millions Q2 2018 Q2 2017 H1 2018 H1 2017 30 Jun 2018 31 Mar 2018 STATEMENTS Property, plant and equipment Revenue 3,644 2,859 1,511 1,354 2,981 2,932 Investment properties Direct costs 16,682 16,141 (863) (812) (1,617) (1,637) Development wo
Slide 17: Q2 2018 Segmental Analysis
Q2 2018 recurring revenues of AED 761 million (Q2 2017: AED 666 million, Q1 2018: AED 725 million) ¹ Q2 2018 Segmental Revenue Performance AED Millions TDIC recurring revenue assets TDIC development assets Q2 2018 Q2 2018 revenue contribution: revenue contribution: 577 574 AED 76 million AED 43 mill
Slide 18: H1 2018 Segmental Analysis
H1 2018 recurring revenues of AED 1,486 million (H1 2017: AED 1,389 million) ¹ H1 2018 Segmental Revenue Performance AED Millions 1,151 885 857 963 779 659 SEGMENTAL 248 232 40 101 Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Property Development ANALYSIS H1
Slide 19: Government Receivables
Remaining GOVERNMENT RECEIVABLES Remaining cash inflows P&L events Transaction (AEDm) H2 2018 2019 Total Other income Sale of Al Raha Beach Land ¹ 190 95 285 - Infrastructure recoverables ² 362 536 898 293³ 552 631 1,183 293 ¹ Al Raha Beach land plot handed over in Q3 2016 with a payment plan struct
Slide 20: Operating Assets
Retail Residential Commercial Hospitality Adjacent OPERATING 440,000 sqm GLA 5,100 units 308,000 sqm GLA 2,900 keys Consolidating assets: Consolidating assets: Consolidating assets: Consolidating assets: Key consolidating assets • Yas Mall • al rayanna • Aldar HQ • Yas Hotel (previous and businesses
Slide 21: Investment Plan
COMPLETED IN Q3 2017 Repton School Type: Commercial Location: Abu Dhabi Island GLA: 20,000 sqm ACQUIRED: Q2 2018 Asset acquisition Type: Various Location: Saadiyat Island and other INVESTMENT ACQUIRED IN Q4 2015 Daman House Type: Commercial office building Location: Abu Dhabi Island GLA: 23,000 sqm
Slide 22: Development and Investment Projects
EXPECTED COMPLETION: 2020 DESIGN STAGE DESIGN STAGE Water’s Edge Shams Marina Yas Mall Hotel Type: Residential Type: Mixed-use Type: Hospitality Location: Yas Island Location: Reem Island Location: Yas Island Units: c.800 Overview: Hotel, long-stay apartments and Keys: 349 residential EXPECTED COMPL
Slide 23: Contact Us
CONTACT US 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] Aldar Q2 2018 Results 22