DIS
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Aldar Q3 2019 Results 1
Q3
20
19
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▪ Development Management (DM) revenue
up 20% and gross profit up 29%, supported
by strong progress on key development
projects under construction
▪ Development sales up 272% to AED 1.12
billion during the quarter, YTD sales up
128% to AED 2.99 billion, driven by strong
demand for new project launches and sales
on inventory
▪ 80% sold across all Aldar units launched as
at period end
▪ DM revenue backlog as at 30 Sep 2019
marginally increased to AED 4.6 billion,
providing clear visibility of future revenue
cashflows
▪ 4% NOI growth to AED 397 million driven
by recent asset additions; Etihad Plaza,
Etihad Plaza and Al Jimi Mall extension
offsetting Like-for-like (LfL) rate declines
▪ Resilient 90% occupancy performance
across investment properties (residential,
retail and commercial)
▪ Solid performance for hospitality with year-
to-date occupancy at 75%, supported by
strong Abu Dhabi events calendar, ahead
of wider Abu Dhabi market at 71%
▪ Key adjacent businesses; Aldar Academies
(schools), Provis (property management)
and Khidmah (facilities management)
meaningfully contributing to Q3 numbers
Development Asset Management Corporate and other
▪ Net profit down 8% to AED 387 million,
mainly driven by one-off other income
event in the same quarter last year
▪ As at 30 Sep 2019, the balance sheet
remains robust with cash plus available
and undrawn liquidity lines of AED 5.7
billion
▪ Conservative debt position at AED 7.7
billion, well within debt policy ranges for
both asset management (37.5%) and
development management (10.3%)
businesses
1,4
97
1,6
05
Q3 2018 Q3 2019
Revenue
(AED m) (+7%)
581
662
Q3 2018 Q3 2019
Gross profit
(AED m) (+14%)
420
387
Q3 2018 Q3 2019
Net profit
(AED m) (- 8%)
301 1
,118
Q3 2018 Q3 2019
Development sales
(AED m) (+272%)
381
397
Q3 2018 Q3 2019
Recurring revenue NOI
(AED m) (+4%)
2Aldar Q3 2019 Results
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¹ As at 30 Sep 2019
RetailResidential Commercial Adjacencies & other
▪ Increased community
retail occupancy
▪ Al Jimi mall extension
opened in March 2019
▪ Yas Mall trading
occupancy 89%¹
▪ WAULT: 3.2¹ years
Hospitality
▪ Stable occupancy
▪ Asset additions,
offsetting lower
renewal rates and
divestment of Al
Murjan Tower
▪ Bulk deals now
represent 48%
▪ WAULT: 6.1¹ years
▪ Stable NOI supported
by stable occupancy
and long-term leases
▪ Etihad Airways Centre
added in March 2019
▪ WAULT: 5.0¹ years
▪ Strong Abu Dhabi
events calendar
supporting a 4% and
8% growth in portfolio
occupancy and ADRs
respectively versus
YTD 2018
▪ Aldar has tripled student
numbers to 22,000 over
the past 2 years across
network
▪ Provis, Aldar’s property
management businesses
now manage a total of
15,000 properties under
management
▪ Stable performance across
district cooling assets
90% occupancy¹89% occupancy¹ 91% occupancy¹ 75% occupancy¹
Asset class NOI contribution
3Aldar Q3 2019 Results
118 123
121 121
111 1040 3
30 47
Q3 2018 Q3 2019
Resi Retail Commercial Hospitality Adjacencies and other
AED 381 mn +4% AED 397 mn
359 367
382 364
330 31020 62
63 120
YTD 2018 YTD 2019
Resi Retail Commercial Hospitality Adjacencies and other
AED 1,154 mn +6% AED 1,224 mn
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Ansam
Hadeel
Nareel Island
Al Merief
West Yas¹
Meera
Jawaher
Mamsha
Development revenue based on progress of completion
Launched development
for sale
Tender contractand early
works
Main construction
stage
Final stages of
constructionHandover
Launch date Time c.2-2.5 years
0%
R
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ec
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nis
ed
100%
18 projects within development pipeline at various
stages – 6 handed over/ in process of handover
AED 3.0 billion development sales achieved in YTD
2019, up 128% (YTD 2018: AED 1.3 billion)
AED 4.6 billion development sales revenue back log
as at 30 Sep 2019
80% sold across all Aldar units launched
(excluding handed over units)
AED 1.1 billion development sales achieved in Q3
2019, up 272% (Q3 2018: AED 0.3 billion)
Q3 2019 development highlights
Water’s Edge
Lea
Alreeman II
Saadiyat reserve
The Bridges
Alghadeer
Yas Acres
Reflection
Alreeman
Mayan
¹ West Yas is a third-party development management fee-based project
4Aldar Q3 2019 Results
▪ Public launch in June 2019
▪ Located in Al Shamka
investment zone on mainland
Abi Dhabi near airport
▪ Master planned residential
community available to UAE
nationals only
▪ 84% sold as at 30 Sep’19
Yas Island Abu Dhabi mainland – Alshamkha
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▪ Launched at CityScape Abu
Dhabi 2019
▪ Located with Yas Acres
investment zone masterplan
on Yas Island
▪ Master planned villa land plots
for sale including 238 plots
▪ 85% sold as at 30 Sep’19
▪ Public launch in January 2019
▪ Located in Al Shamka
investment zone on mainland
Abi Dhabi near airport
▪ Master planned villa (786
units) and commercial land
plots (220 units) for sale
▪ 89% sold as at 30 Sep’19
Lea Al Reeman
New development launches in 2019 driving Q3 and YTD 2019 development sales
Al Reeman II
5
Saadiyat Island
▪ Public launch in September
2019
▪ Located in Saadiyat island
investment zone master plan,
close to tourist attractions
▪ 223 Master planned prime
villa land plots for sale
▪ 30% sold as at 30 Sep’19 –
further sales pending as at
period end
Saadiyat Reserve
Aldar Q3 2019 Results
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▪ AED 2.0 billion project value
▪ Located on Saadiyat Island
▪ Project will complete primary
infrastructure works to Saadiyat
Island
▪ Development management fee
▪ Handover from 2021
▪ AED 2.0 billion project value
▪ Located in existing Al Falah
residential community near airport
▪ Master planned villa development
including 899 residential units
▪ Fixed price offtake to government
▪ Handover from 2021
Saadiyat infrastructure Al Falah residential
▪ AED 1.0 billion project value
▪ Located on Yas Island
▪ Includes 100,000 sqm GLA that will
ultimately house 10,000 employees
▪ Fixed price offtake to government
▪ Handover from 2021
Twofour54 media free-zone
AED 5 billion in projects awarded by government in July
2019 across national housing,
6
AED 3 billion contracts awarded in July for Al Falah,
twofour54 and first phase of Saadiyat infrastructure
AED 3 billion added to revenue backlog in July 2019,
driven by offtake on Al Falah and twofour54
AED 100mn/ year
AED 150mn/ year
2016A-2018A 2019E-2021E
Development Management segment gross profit guidance increased 50% following recent govt
awards (AED mn)
Aldar Q3 2019 Results
100% owned
BA
LA
NC
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HE
ET
Robust balance sheet position
Key balance sheet highlights
▪ AED 1.2 bn increase in DWIP and inventories due to progress on
current development projects, reclassification of land cost on newly
launched projects (Alreeman and Reserve)
▪ AED 4.8 billion gross cash – AED 2.0 bn relates to Aldar’s free and
subsidiary cash, AED 1.9 bn restricted and AED 0.8 bn escrow
▪ AED 0.7 bn increase in gross debt to AED 7.7 bn, predominantly
due to addition of Etihad JV AM assets and higher borrowing on
development business to support short term working capital needs
Prudent capital management and governance in place
▪ Aldar Investments – highest non-GRE, corporate rating in
region
▪ Debt position remains well within debt policies
▪ As at 30 Sep 2019, Aldar’s cost of debt was 4.0% and
average debt maturity was 4.2 years. Post Oct’19 new
sukuk issuance, debt maturity increased to 5.4 years
▪ Strong liquidity position with undrawn facilities of AED 3.7
billion
Aldar Properties
Development
Management
65-80% DFCF 20-40% profit
Aldar Investments
(Baa1 – Moody’s)
35-40% LTV (37.5%)
<25% LTV (10.3%)
Dividend policy
Debt policy(As at 30 Jun 19)
7
Asset
Management
Aldar Q3 2019 Results
AED millions As at 30 Sep19 As at 31 Dec18
Assets
Property, plant and equipment 3,477 3,601
Investment properties 16,993 16,408
DWIP and inventories 7,956 6,749
Investments in associates and JVs 214 994
Receivables and other assets 6,451 5,778
Cash 4,796 5,015
Total Assets 39,886 38,544
Equity and liabilities
Equity 24,368 24,236
Debt 7,725 7,056
Payables, advances and other liabilities 7,793 7,252
Total equity and liabilities 39,886 38,544
KE
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ES
SA
GE
SStrong YTD 2019 following four successful development launches
Constructive supply-demand dynamics supporting Abu Dhabi real
estate market fundamentals
Resilient occupancy performance across Asset Management
business
Development revenue growth driven by progress on key projects
under development and strong inventory sales
Balance sheet remains strong and liquid, well within debt policy
ranges for both Asset Management and Development management
Proactive measures by Government to spur growth providing
broader market support
On track to
achieve
2019 development
sales guidance
AED
4 billion
On track to
achieve
2019 AM NOI
guidance
AED
1.7 billion
8Aldar Q3 2019 Results
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Y▪ Q3 development sales of AED
1.1 billion mainly driven by
West Yas (AED 305 million
across 62 units), Alreeman II
(AED 269 million across 265
plots), Yas Acres (AED 159
million across 41 units),
Saadiyat Reserve (AED 156
million across 66 plots), Lea
(AED 55 million across 28
plots), two Saadiyat land plots
(AED 35 million) and
Reflections (AED 30 million
across 28 units
▪ Revenue backlog as at 30 Sep
2019 now stands at AED 4.6
billion (30 Jun 19: AED 4.5
billion)
10
¹ Sold units and sold units sales value includes all units where a sales purchase agreement (“contract”) has been signed. This does not include sales reservations or units still in process. Total units and values as at period end are net of
cancellations.
Aldar Q3 2019 Results
Project Location Launch date
Total as at 30 Sep 19
Expected
completion Sold units ¹Sales value (AEDm)
¹Units launched % sold
%
completion
Ansam Yas Island 2014 519 911 547 95% 100% Handed over
Hadeel Al Raha Beach 2014 229 487 233 98% 100% Handed over
Nareel Abu Dhabi Island 2015 78 1,001 161 48% 100% Handed over
Merief Khalifa City 2015 270 600 281 96% 100% Handed over
Meera Reem Island 2015 383 492 408 94% 100% Handing over
Mayan Yas Island 2015 420 765 512 82% 81% 2020
Yas Acres Yas Island 2016 559 2,112 652 86% 73% 2019/20
Mamsha Saadiyat Island 2016 196 786 461 43% 91% 2019
Jawaher Saadiyat Island 2016 71 636 83 86% 91% 2019
The Bridges Reem Island 2017 591 594 636 93% 85% 2020
Water's Edge Yas Island 2017 1,171 1,177 1,236 95% 30% 2020/21
Reflection Reem Island 2018 112 114 192 58% 0% 2021
Alghadeer Seih Sdeirah 2018 384 270 707 54% 22% 2021
Al Reeman Al Shamka 2019 902 1,428 1,012 89% 0% 2021
Lea Yas Island 2019 202 399 238 85% 0% 2021
Al Reeman II Al Shamka 2019 466 470 557 84% 0% 2021
Reserve Saadiyat Island 2019 66 156 223 30% 0% 2021
Aldar developments (ex handed over) 5,523 9,399 6,917 80%
West Yas Yas Island 2015 865 3,981 1,017 85% Handing over
West Yas plots Yas Island 2018 47 181 194 24% 2021
Total developments 6,435 13,561 8,128 79%
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HANDED OVER
AnsamType: Prime residential apartments
Land: Investment zone
Location: Yas Island
Units launched: 547
Sold as at 30 Sep 2019: 95%
HANDED OVER
Al HadeelType: Prime residential apartments
Land: Investment zone
Location: Al Raha Beach
Units launched: 233
Sold as at 30 Sep 2019: 98%
COMMENCED HANDOVER
Nareel IslandType: Exclusive land plots for villa development
Land: Non-investment zone
Location: Nareel Island, off Abu Dhabi Island
Units launched: 161
Sold as at 30 Sep 2019: 48%
COMMENCED HANDOVER
Al MeriefType: Land plots for villa development
Land: Non-investment zone
Location: Khalifa City
Units launched: 281
Sold as at 30 Sep 2019: 96%
COMMENCED HANDOVER
West YasType: Villa development
Land: Investment zone
Location: Yas Island
Units launched: 1,017
Sold as at 30 Sep 2019: 85%
11Aldar Q3 2019 Results
COMMENCED HANDOVER
MeeraType: Residential apartments
Land: Investment zone
Location: Reem Island
Units launched: 408
Sold as at 30 Sep 2019: 94%
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EXPECTED COMPLETION: 2019
MayanType: Prime residential apartments
Land: Investment zone
Location: Yas Island
Units launched: 512
Sold as at 30 Sep 2019: 82%
EXPECTED COMPLETION: 2019
MamshaType: Beachfront residential apartments
Land: Investment zone
Location: Saadiyat Island
Units launched: 461
Sold as at 30 Sep 2019: 43%
EXPECTED COMPLETION: 2019/20
Yas AcresType: Villa and townhouse development
Land: Investment zone
Location: Yas Island
Units launched: 652
Sold as at 30 Sep 2019: 86%
EXPECTED COMPLETION: 2020
The BridgesType: Mid-market residential apartments
Land: Investment zone
Location: Reem Island
Units launched: 636
Sold as at 30 Sep 2019: 93%
12Aldar Q3 2019 Results
EXPECTED COMPLETION: 2020/21
Water’s EdgeType: Mid-market residential apartments
Land: Investment zone
Location: Yas Island
Units launched: 1,236
Sold as at 30 Sep 2019: 95%
EXPECTED COMPLETION: 2019
JawaherType: Golf-view villas and townhouses
Land: Investment zone
Location: Saadiyat Island
Units launched: 83
Sold as at 30 Sep 2019: 86%
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EXPECTED COMPLETION: 2021
ReflectionType: Mid-market residential apartments
Land: Investment zone
Location: Reem Island
Units launched: 192
Sold as at 30 Sep 2019: 58%
EXPECTED COMPLETION: 2021
AlghadeerType: Residential land plots
Land: Investment zone
Location: Seih Sdeirah
Units launched: 707
Sold as at 30 Sep 2019: 54%
EXPECTED COMPLETION: 2021
AlreemanType: Mid-market residential land plots
Land: Investment zone
Location: Al Shamka
Units launched: 1,012
Sold as at 30 Sep 2019: 89%
13Aldar Q3 2019 Results
EXPECTED COMPLETION: 2021
Lea Type: Residential land plots
Land: Investment zone
Location: Yas Island
Units launched: 238
Sold as at 30 Sep 2019: 85%
EXPECTED COMPLETION: 2021
Alreeman IIType: Mid-market residential apartments
Land: Non-Investment Zone
Location: Al Shamkha
Units launched: 557
Sold as at 30 Sep 2019: 84%
EXPECTED COMPLETION: 2021
Saadiyat Reserve Type: Residential land plots
Land: Investment zone
Location: Saadiyat Island
Units launched: 223
Sold as at 30 Sep 2019: 30%
OP
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SRetail
478,273 sqm GLA¹
Residential Commercial Adjacencies
Consolidating assets:
▪ Yas Mall
▪ Al Jimi Mall (extended
in Mar’19)
▪ Remal Mall
▪ Yas Retail Park (IKEA
and Ace)
▪ Community retail (25
assets)
▪ Etihad Plaza (acquired
in Mar’19)
Hospitality
5,621 units¹ 318,074 sqm GLA¹ 2,930 keys¹
Consolidating assets:
▪ Al Rayanna
▪ The Gate Towers
▪ Sas Al Nakhl
▪ Sun & Sky Towers
▪ Khalidiya Village
▪ Al Oyoun
▪ Al Mamoura
▪ Al Zeina
▪ Al Bandar
▪ Eastern Mangroves
▪ Cranleigh staff
accommodation
▪ Etihad Plaza (acquired
in Mar’19)
▪ Al Murjan (sold in
Mar’19)
Consolidating assets:
▪ Aldar HQ
▪ Al Mamoura
▪ Baniyas
▪ Sky Tower
▪ Daman House
▪ International Tower
▪ North Park
▪ Motorworld
▪ Repton School
▪ The Wing
▪ Al Ain OV
▪ Saadiyat OV
▪ Etihad Airways Centre
(acquired in Mar’19)
▪ Yas OV (sold in Jun’19)
Consolidating assets:
▪ Yas Hotel
▪ Crowne Plaza Yas
▪ Staybridge Yas
▪ Rotana Yas
▪ Radisson Blue Yas
▪ Park Inn Yas
▪ Centro Yas
▪ Tilal Liwa
▪ Yas Links golf club
▪ Eastern Mangroves
▪ Westin Abu Dhabi
▪ Saadiyat Beach club
▪ Saadiyat golf club
▪ Abu Dhabi golf club
▪ Al Bateen Marina
▪ Excludes non-
consolidating assets of
Hala Arjaan
Key consolidating
assets and businesses:
▪ Education - Aldar
Academies and
Cranleigh school
▪ Facilities management
(Khidmah)
▪ Property management
(Provis)
▪ Construction – Pivot
▪ District Cooling -
Saadiyat District
Cooling and Saadiyat
Cooling
14
¹ As at 30 Sep 2019
Aldar Q3 2019 Results
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▪ Abu Dhabi approved an AED 50bn development plan
to enhance the competitiveness of Abu Dhabi.
▪ ‘Ghadan 21’ is a programme that aims to make Abu
Dhabi one of the best cities in the world to do
business, invest and live in. Initiatives include:
▪ AED520m tech hub ‘Hub71’ to support startups
▪ Licensing scheme to provide 13 new business
activities in tech and innovation
▪ Dh500 mn Ghadan ventures fund to support
new businesses
▪ AED 3bn budget to improve social facilities
▪ 300 initiatives to improve quality of life
▪ Up to 15,000 additional housing loans for UAE
citizens to issued by the end of 2019
▪ Advantage Abu Dhabi initiative to attract large
scale sporting, culture and business events to
Abu Dhabi
▪ AED1 billion of incentives for agriculture
technology (AgTech) firms
▪ Agreement with artificial intelligence firm SenseTime
for Abu Dhabi R&D hub, creating 600 jobs
Abu Dhabi Government initiatives
▪ ADNOC capex plans - five-year investment plan of
$132 billion (AED486bn) for upstream, midstream,
and downstream segments of its business.
▪ ADNOC Downstream - $45bn (AED165bn) new
investment on downstream operations, including the
expansion of Ruwais complex with a third refinery,
expanding capacity by 600,000 bpd to reach 1.5
million bpd by 2025.
▪ ADNOC infrastructure - Singapore’s sovereign wealth
fund GIC, BlackRock and KKR also invested in
ADNOC’s pipeline infrastructure with a total deal
value of $5 billion.
▪ Abu Dhabi has built the world’s largest independent
solar power plant, Noor Abu Dhabi, in Sweihan, with
a capacity at 1.17GW at the cost of AED 3.2bn.
▪ The Tajer Abu Dhabi license is open to all GCC
nationals and UAE residents, under a new ‘Golden
Package’.
▪ Companies are eligible to obtain commercial
licenses without a physical office.
▪ 5 and 10-year (Gold Card) renewable visas
introduced for first time.
▪ Investors investing at least Dh10 million would
qualify for 10-year visas, while entrepreneurs
and special talents would be entitled to five-
year residency.
▪ Foreigners allowed to own freehold property in
investment zones.
▪ Introduction of 100% foreign ownership in 122
economic activities across 13 sectors.
▪ Under an agreement with First Abu Dhabi Bank
(FAB) the government will also guarantee up to 75
per cent of bank loans to small and medium-sized
enterprises.
Federal announcements
Policy reform, stimulus and energy strategy supporting growth and increasing development in region
Energy industry expansion
15Aldar Q3 2019 Results
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Profit and loss Balance sheet
16
¹ As at 30 Sep 2019
Aldar Q3 2019 Results
AED millions 30-Sep-19 30-Jun-19
Property, plant and equipment 3,477 3,515
Investment properties 16,993 17,023
Development work in progress 3,393 3,083
Inventory and land held for resale 4,563 4,311
Receivables 6,202 5,736
Cash 4,796 3,841
Other Assets 462 506
Total Assets 39,886 38,015
Equity 24,368 24,014
Debt 7,725 7,326
Payables, Advances and Other
Liabilities7,793 6,675
Total Liabilities and Equity 39,886 38,015
AED millions Q3 2019 Q3 2018 YTD 2019 YTD 2018
Revenue 1,605 1,497 5,026 4,478
Direct costs(943) (916)
(2,972) (2,533)
Gross profit 662 581 2,054 1,945
Gross profit Margin 41% 39% 41% 43%
SG&A expenses(105) (101)
(301) (281)
Depreciation, amortization and
write downs/ provisions (73) (66) (221) (187)
CSR contribution (5) (10) (15) (30)
Gain/ Loss on disposal of JV/
Investment Property/ PPE- - - 30
Share of profit from associates/
JVs(1) 16 (2) 52
Gain on disposal of PPE - - 23 -
Net finance income/expense (66) (59) (201) (162)
Fair value loss on investment
properties, impairments and
write downs
(40) (40) (120) (270)
Gain on business combination - - - 133
Other Income 14 100 140 304
Net Profit for the period 387 420 1,356 1,534
Attributable to:
Owners of the Company 383 421 1,407 1,537
Non-controlling interests 4 (1) (51) (3)
Profit for the period 387 420 1,356 1,534
Basic and diluted earnings per
share (fils)0.049 0.054 0.179 0.195
432
124
406
40
603
435
129
398
19
516437
135
393
41
652
Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Property Development
Q3 2019 Segmental Revenue Performance
Q3 2019 Q3 2018 Q2 2019
AE
D M
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on
s
348
3
57 38
217
350
-32 17
181
353
3 50 38
225
Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Property Development
Q3 2019 Segmental Gross Profit Performance
Q3 2019 Q3 2018 Q2 2019
AE
D M
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on
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SE
GM
EN
TA
L
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ALY
SIS
¹ Recurring revenues assets include Investment Properties (Retail, Residential, Commercial and OVs), Hospitality (Hotels & Leisure), Schools (Aldar Academies), Property & Facilities Management (Khidmah) and District Cooling assets
Q3 2019 recurring revenues excludes Pivot revenue of AED168m (Q3 2018 revenue: AED181m and Q2 2019 revenue: AED159m)
Q3 2019 recurring gross profit excludes Pivot gross profit of AED10m (Q3 2018 gross profit: AED1m and Q2 2019 gross profit: AED10m)
Q3 2019 recurring revenues of AED 794 million (Q3 2018: AED 781 million, Q2 2019: AED 806 million) ¹
Q3 2019 recurring revenues gross profit of AED 397 million (Q3 2018: AED 381 million, Q2 2019: AED 396 million) ¹
17Aldar Q3 2019 Results
1,038
62 156
100
698
1,074
19 61 47
740
Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Property Development
YTD 2019 Segmental Gross Profit Performance
YTD 2019 YTD 2018
AE
D M
illio
ns
1,290
469
1,213
107
1,946
1,320
377
1,057
58
1,667
Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Property Development
YTD 2019 Segmental Revenue Performance
YTD 2019 YTD 2018
AE
D M
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GM
EN
TA
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YTD 2019 recurring revenues of AED 2,457 million (YTD 2018: AED 2,266 million) ¹
YTD 2019 recurring revenues gross profit of AED 1,224 million (YTD 2018: AED 1,153 million) ¹
18
¹ Recurring revenues assets include Investment Properties (Retail, Residential, Commercial and OVs), Hospitality (Hotels & Leisure), Schools (Aldar Academies), Property & Facilities Management (Khidmah) and District Cooling assets
YTD 2019 recurring revenues excludes Pivot revenue of AED515m (YTD 2018 revenue: AED487m)
YTD 2019 recurring revenues gross profit excludes Pivot gross profit of AED31m (YTD 2018 gross profit: AED2m)Aldar Q3 2019 Results
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¹ Al Raha Beach land plot handed over in Q3 2016 with a payment plan structure
² Cash flow timing projection, subject to change
Remaining cash inflows
Transaction (AEDm) Q4 2019 2020 Total
Sale of Al Raha Beach Land ¹ - 95 95
Infrastructure recoverables ² - 250 250
- 345 345
AED 345 million remains outstanding as at 30 Sep
2019 – collection expected in 2020
19
AED 279 million received in 2019
YTD
Aldar Q3 2019 Results
For any further enquiries please contact:
Chris Wilson
Head of Investor Relations
+ 971 2 810 5624
Mohamed ALMaazmi
Investor Relations
+ 971 2 810 5866
CO
NTA
CT
US
20Aldar Q3 2019 Results