Alandalus Property Co. · TADAWUL:4320
Alandalus Property — Q3 2024 Earnings Presentation
41 slides from Alandalus Property's earnings presentation, 2024
Slide 1: Investor Presentation Q3 2024
Alandalus Property Q2 2024 Investor Presentation Q3- 2024 © 2024 APC. All rights reserved. Please refer to the disclaimer at the second page of this presentation.
Slide 2: Disclaimer
Disclaimer Alandalus Property Q3 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 Q3 2024 Overview 4 Operational Performance 12 Financial Performance 28 Contact us 40 3
Slide 4: Overview
Alandalus Property Q3 2024 Overview 4
Slide 5: Alandalus Property company overview
Alandalus Property Q3 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. Founded by a group of businessmen in Riyadh in 2006, with a paid-in capital of
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: Q3 2024 APC Performance Summary
Q3 2024 APC Performance Summary Alandalus Property Q3 2024 170M 61% 25% 42% Revenue (SAR) Gross Profit Margin Operating Profit Margin EBITDA Margin >6.7m 93% 100% 72% Total Mall Footfall Avg Occupancy Rate of Avg Occupancy Rate of Avg Occupancy Rate of Retail Portfolio Offices Portfolio Hospitality
Slide 8: Commercial Sectors
Commercial Sectors Alandalus Property Q3 2024 RETAIL HOSPITALITY OFFICES HEALTHCARE Super Regional Regional Strip Malls Malls Malls Alandalus Salama Al-Fayha MallHotel Tower Hospital Operated by Operated by QBIC Building 8
Slide 9: Strategic Objectives
Strategic Objectives Alandalus Property Q3 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 Q3 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 Q3 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
Alandalus Property Q3 2024 Operational Performance
Slide 13: The Company Portfolio
The Company Portfolio Alandalus Property Q3 2024 TOTAL Avg TYPE # NO GLA FOOTFALL Units Occupancy Super Regional Malls 3 263k 6.7M 1,152 88% Retail Regional Malls 1 44k 1.7M 245 93% Strip Malls 4 28k - 151 96% Hospitality Hotels 1 - - 164 76% Key Towers 2 41.2k - - 100% Offices Plaza 1 21.2k - - 100
Slide 14: Retail - Super Regional Malls: Alandalus Mall
Retail - Super Regional Malls Alandalus Property Q3 2024 Profile Profile Alandalus Mall Location: Jeddah Stores : 358 Total Area: 148,481 sqm GLA -A: 88,863 sqm GLA -B: 14,000 sqm Ownership: Al Ahli REIT Fund1 (68.73% APC) Operated by: Alandalus Property Co. Occupancy Rate: 95% Avg. Rent: SAR 1,515
Slide 15: Retail - Super Regional Malls: Hayat Mall
Retail - Super Regional Malls Alandalus Property Q3 2024 Profile Profile Hayat Mall Location: Riyadh Stores : 355 Total Area: 226,108 sqm GLA 89,700 sqm Ownership: Hayat Property Co. (25 % APC) Operated by: Alandalus Property Co. Occupancy Rate: 93% Avg. Rent: SAR 1,504 15
Slide 16: Retail - Super Regional Malls: The Village Mall
Retail - Super Regional Malls Alandalus Property Q3 2024 Profile Profile The Village Mall Location: Jeddah Stores : 446 Total Area: 208,000 sqm GLA: 85,290 sqm Ownership: Al-Jawhara Al-Kubra New Pictures Co. (25 % APC) Operated by: Hamat Holding Co. Occupancy Rate: 77% Avg. Rent: SAR 873 16
Slide 17: Retail - Regional Malls
Retail - Regional Malls Alandalus Property Q3 2024 Profile Profile Dareen Mall Location: Dammam Stores : 199 Total Area: 59,000 sqm GLA: 47,666 sqm Ownership: Alaswq AlMutatura New Pictures Co. (50 % APC) Operated by: Hamat Holding Co. Occupancy Rate: 93% Avg. Rent: SAR 580 17
Slide 18: Retail - Strip Malls: Al-Sahafa Center
Retail - Strip Malls Alandalus Property Q3 2024 Profile Profile Al-Sahafa Center Location: Riyadh Stores : 20 Offices : 8 Total Area: 12,395 sqm GLA: 7,213 sqm Ownership: Rented Land since 2013 Operated by: Alandalus Property Co. Occupancy Rate: 100% Avg. Rent: SAR 873 18
Slide 19: Retail - Strip Malls: Tilal Center
Retail - Strip Malls Alandalus Property Q3 2024 Profile Profile Tilal Center Location: Riyadh Stores : 20 Total Area: 9,021 sqm GLA: 5,064 sqm Ownership: Rented Land since 2013 Operated by: Alandalus Property Co. Occupancy Rate: 100% Avg. Rent: SAR 1,078 19
Slide 20: Retail - Strip Malls: Al-Yarmouk Center
Retail - Strip Malls Alandalus Property Q3 2024 Profile Profile Al-Yarmouk Center Location: Riyadh Stores : 26 Total Area: 10,822 sqm GLA: 5,457 sqm Ownership: Rented Land since 2013 Operated by: Alandalus Property Co. Occupancy Rate: 94% Avg. Rent: SAR 1,050 20
Slide 21: Retail - Strip Malls: Al-Marwa Center
Retail - Strip Malls Alandalus Property Q3 2024 Profile Profile Al- Marwa Center Location: Jeddah Stores : 46 Offices : 31 Total Area: 17,030 sqm GLA: 9,780 sqm Ownership: Manafee Alandalus Co. (70 % APC) Operated by: Alandalus Property Co. Occupancy Rate: 94% Avg. Rent: SAR 1,084 21
Slide 22: Hospitality
Hospitality Alandalus Property Q3 2024 Profile Profile Alandalus Mall Hotel Location: Jeddah Area: 28,255 sqm Number of Room: 164 hotel Suite Ownership: Al Ahli REIT Fund I (68.73% APC) Operated by: Alandalus Property. Occupancy Rate: 76.23% RevPAR: SAR 292.44 22
Slide 23: Offices: Yasmeen Alandalus Tower
Offices Alandalus Property Q3 2024 Profile Yasmeen Alandalus Tower Location: Riyadh Net Leasable Area: 9,838 sqm Ownership: APC 100% Annual Rental SAR 19.9 Million without Value: including VAT Rental Period: 5 years Starting from July 2024 23
Slide 24: Offices: Qbic Plaza
Offices Alandalus Property Q3 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 24
Slide 25: Offices: Salama Tower
Offices Alandalus Property Q3 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 25
Slide 26: Healthcare
HEALTHCARE Alandalus Property Q3 2024 Profile Profile Dr. Suliman Alhabib medical Hospital | Al-Fayaha Hospital Location: Jeddah Number of beds : 350 Number of clinics : 245 New Pictures Ownership: West Jeddah Hospital Company (50 % APC) Operated by: Dr. Suliman Alhabib Medical service Group Opening
Slide 27: Ongoing Investments
Ongoing Investments Alandalus Property Q3 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) Masat Property Co. Project Location: ▪ Makkah Type: ▪ A unique commercial center co
Slide 28: Ongoing Investments
Ongoing Investments Alandalus Property Q3 2024 Mawared Al-Tamayoz Real Estate Company ( Malqa Alandalus ) Location: ▪ Riyadh - Al Malqa District Type: ▪ An office building consisting of four floors with an estimated built-up area of 30,004 square meters and an estimated leasable area of 9,722 square
Slide 29: Financial Performance
Alandalus Property Q3 2024 Financial Performance
Slide 30: Revenue
Revenue Alandalus Property Q3 2024 220 +5.5 % 215 170.4 m 100% (SAR Millions) 65.5% Retail Revenue 214 216 176 168 165 164.0 170.4 m m Q3 3.9 % 9.0% Hospitality 25.5% Offices 0 2018 2020 2021 2023 Q3 2024 Q3 2024 2019 2022 30 APC©
Slide 31: Gross Income & Margin
Gross Income & Margin Alandalus Property Q3 2024 Gross Margin (%) Gross Income (SAR Million) 150 100% +8% 68% 66% 100 61% 58% 64% Avg: 61.5% 57% 57% Gross Margin (SAR Millions) Gross Income 137.7 (%) 145.0 142.4 108.0 m 104.3 m 50 102.4 95.7 93.7 Q3 Q3 -3.4 % 0 0% 2018 2019 2020 2021 2022 2023 Q3 20
Slide 32: Operating Income & Margin
Operating Income & Margin Alandalus Property Q3 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: 48.0 % 50% (%) 125.1 127.3 50 104.2 29% 106.8 92.6 25.2% -50.4 % 48.3 86.4 m 42.9 m Q3 Q3 0 0% 2018 2
Slide 33: EBITDA & Margin
EBITDA & Margin Alandalus Property Q3 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% Avg 63.5%* 48% 141.0 127.3 110.9 42.3% 50% 50 81.2 -35.0 % 111.0 72.1 m m Q3 Q3 0 0% 2018 2019 2020 2021 2022 202
Slide 34: Net Income (shareholders) & Margin
Net Income (shareholders) & Margin Alandalus Property Q3 2024 Net Margin (%) Net Income (SAR Million) 134 85% - 5.4% 84 (SAR Millions) Net Income 52% Net Margin 41% 44.2% 43.1% 35% (%) Avg: 28.8% 34 1 64.8 48.0 66.8 23.5% 48.0 11.8% 36.4 2 14.3 33.1 m -147.7 % 0 Q3 -15.8 m -16 -15% 2018 2019 2020 20
Slide 35: Return on Equity (ROE)
Return on Equity (ROE) Alandalus Property Q3 2024 16 14 12 10 8 6.42 6.22 5.8 6 4.1 4 3.38 Avg: 3.7% 2 1.3 0 -1.18 -2 2018 2019 2020 2021 2022 2023 2024 35 APC©
Slide 36: Return on Assets (ROA)
Return on Assets (ROA) Alandalus Property Q3 2024 16 14 12 10 8 6 5.2% 4.4% 4.6% 4 4.3% 2.3% 2 Avg: 3.0 % 0.9% 0 -0.25% -2 2018 2019 2020 2021 2022 2023 2024 36 APC©
Slide 37: Funds From Operations (FFO)
Funds From Operations (FFO) Alandalus Property Q3 2024 FFO % of Revenue FFO (SAR Million) 9.6 % 100% 150 77.4% 78.2% 85% 74.2% 61% 159.6 70% Avg: 65.3 % 52.8% 100 181.6 50% 99.9 133.3 36% m m 117.7 114.1 50 100.7 Q3 Q3 33.4 % 63.6 0 0% 2018 2019 2020 2021 2022 2023 Q3 2024 37 APC©
Slide 38: Liquidity
Liquidity Alandalus Property Q3 2024 Net Working Capital ‘000 -89% 185,864 192,460 212,254 166,976 160,532 142,855 15,471 2018 2019 2020 2021 2022 2023 Q3 2024 Current Ratio 2.5 3.00 3.07 2.72 2.56 2.64 2.16 1.1 2018 2019 2020 2021 2022 2023 Q3 2024 38 APC©
Slide 39: Leverage
Leverage Alandalus Property Q3 2024 Debt-Equity Ratio 0.94 0.84 0.60 0.64 0.64 0.37 0.07 2018 2019 2020 2021 2022 2023 Q3 2024 * Debt-Assets Ratio 0.46 0.49 0.38 0.39 0.39 0.27 0.07 2018 2019 2020 2021 2022 2023 Q3 2024 * 39 Note: * Debt-Equity ratio and Debt-Asset ratio would be 82% and 42%, respec
Slide 40: Consolidated Balance Sheet as at September 2024
Consolidated Balance Sheet as at 30 September 2024 Alandalus Property Q3 2024 Total Assets (SAR million) Total Liabilities & Equity (SAR million) 2,259 2,282 2,259 2,282 119 151 525 587 915 957 1,454 1,528 1,069 1,033 279 167 156 141 2023 2024 2023 2024 Investments Fixed Assets Current Assets Curren
Slide 41: For more details, please visit our website
Alandalus Property Q3 2024 For more details on Alandalus Property Co., please visit our website: http://www.alandalus.com.sa For further information, contact: Investor Relation & Governance Department. Member with Middle East Investor Relations Phone: +966 11 920014541 Ext. 888 Association since 201