Results Presentaion SEP19
Results Presentaion SEP19
Results Presentaion SEP19
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Nov 2019
Disclaimer
This presentation is being made only to, and is only directed at, persons to whom this presentation may lawfully be communicated (relevant
persons). Any person who is not a relevant person should not act or rely on this presentation or any of its contents.
This presentation does not constitute or form part of, and should not be construed as, an offering of securities or otherwise constitute an
invitation, inducement or recommendation to any person to underwrite, subscribe for or otherwise acquire securities in any company within
the DAMAC group (the Group).
Certain statements made in this presentation are forward looking statements. Such statements are based on current expectations and are
subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or
results expressed or implied in these forward-looking statements. Forward-looking statements speak only as of the date of this presentation.
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DAMAC Overview
Portfolio Overview
Headquarters in Dubai
Completed (1) In-progress (2) and In-planning (3)
50+ 6 10,000+
mn sq ft projects in countries with presence Hospitality units projects projects
progress and in planning (incl. completed units and
project pipeline) Total: 27,444 units Over 35,000 units
3,251 4,253
Outside Dubai -
2,074 2,850 units
2,382
2,763
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Performance Review
Profit • Reported gross profit of AED838mn and net profit of AED133mn in 9M 2019.
• Gross debt (including Sukuk Certificates) at AED4.0bn. Cash and Bank balance
stood at AED5.0bn.
• Net cash position stood at AED1.0bn as at 30 Sep 2019.
Leverage • During 9M 2019, DAMAC repaid the balance outstanding Sukuk Certificates worth
AED 995 million (US$ 271 million) on its scheduled maturity. These certificates were
part of US$ 650 million (AED 2,389 million) five year Sukuk Trust Certificates issued
on 9 April 2014.
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Financial Highlights
3Q18 4Q18 1Q19 2Q19 3Q19 3Q18 4Q18 1Q19 2Q19 3Q19
591 615
3Q18 4Q18 1Q19 2Q19 3Q19 3Q18 4Q18 1Q19 2Q19 3Q19
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Performance Trends (contd.)
TOTAL ASSETS
TOTAL EQUITY
25,452 14,051 14,110 14,141 14,191 14,242
25,037 25,176 24,676 24,462
3Q18 4Q18 1Q19 2Q19 3Q19 3Q18 4Q18 1Q19 2Q19 3Q19
Total Debt (AED mn) Cash & Bank Balance (AED mn)
6,231 6,617
4,912 4,948 4,975 6,174
5,585
4,070 3,967 666 1,046 1,824 4,991
1,067
1,278
5,565 5,127 4,794 4,518
3,713
3Q18 4Q18 1Q19 2Q19 3Q19 3Q18 4Q18 1Q19 2Q19 3Q19
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Summary Income Statement
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Summary of Financial Position
975 1,097
Liabilities
Bank borrowings 676 667 Retentions payable
Sukuk certificates 3,291 4,280
Advances from customers 2,839 2,618 Employees' end of
Lease liabilities 107 0 service indemnity
Trade and other payables 3,307 3,501 1,111
Deferred consideration
Total Liabilities 10,220 11,067 payable for land
In AED mn 9M 2019 9M 2018 Change Movement in cash and cash equivalents during 2019
Cash flows from operating activities
Profit for the period 133 1,093 (960)
392 1,179
Adjustments for: 5,543 240
Depreciation on property and equipment 23 22 2
Amortisation of right-of-use assets 25 0 25 4,515
Provision for employees’ end-of-service
9 11 (2)
indemnity
Amortization of issue costs on Sukuk
5 11 (6)
Certificates
(Gain)/Loss on retirement of property and
1 0 1 Opening Cash CF from CF from CF from Closing Cash
equipment
Finance income (121) (126) 5 & Cash Operating Investing Financing & Cash
Finance costs 219 245 (26) Equivalents activities activities activities Equivalents
Reversal of impairment on trade receivables (1) (80) 79
Operating cash flows before changes in
292 1,174 (882)
working capital Sep'19 Sep'18
Decr/(Incr) in trade and other receivables 234 (1,444) 1,678 Cash and bank balances 4,991 6,231
(Incr)/Decr in development properties (740) 714 (1,454)
Fixed deposits with an original
Incr/(Decr) in advances from customers 221 (655) 876
maturity of greater than three (476) (615)
Employee end-of-service benefits paid (9) (9) (0)
Decrease in trade and other payables (238) (74) (163) months
Net cash generated from operating Overdrafts 0 (52)
(240) (295) 55
activities
Cash & Cash Equivalents 4,515 5,563
Net cash (used in) / generated from
392 797 (405)
investing activities
Status of key in-progress projects contributing to revenue from constructed apartment as at 30 Sep 2019
Note:
1. % Recognized is a factor of % area sold and % completion in any particular project.
2. For DAMAC Hills, above data pertains to all the apartment buildings available for sale in the development which meets threshold
criteria and are eligible for revenue recognition.
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Portfolio Overview (as at 30 Sep 2019)
Portfolio by location
Portfolio by development status
(in progress and in-planning projects)
UAE International
No of projects 22 No of projects 2
Sellable area (mn sq ft) 49.4 Sellable area (mn sq ft) 0.7
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investor.relations@damacgroup.com Thank you
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