Results Presentation
Year ended 31 December 2021
March 2022
0
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.
DAMAC Overview
Headquarters in Dubai | |
40+ mn sq ft projects in progress and in planning | 7 countries with presence |
AED 7.8bn Booked Sales in FY 2021 2020 - AED 2.3bn | AED 3.0bn Revenue in FY 2021 2020 - AED 4.7bn |
Strong delivery track record across economic cycle
Units Completed
2,074
34,034
3,251
39,359
Dubai - 36,501 units
Outside Dubai - 2,858 units
Portfolio Overview
Completed (1)
projects
Total:
In Dubai:
Note:
39,359 units
93%
In-progress (2) and In-planning (3)
projects
c.28,000 units
c.95%
Exchange rate US$/AED= 0.2721 used in the whole presentation
(1) Completed projects: projects with Building Completion (BCC) received
(2) In-progress projects: projects with enabling works started / consultant appointed
(3) In-planning projects: projects with no consultant appointed
Performance Review
Sales & Deliveries
Financial performanceLeverage
• Booked sales of AED 7.8bn in FY 2021 vs AED 2.3bn in FY 2020.
• Delivered c.7,400 units in Dubai during the period in Damac Hills and DAMAC Hills 2 master communities.
• Total revenues of AED 3.0 bn in FY 2021 vs AED 4.7bn in FY 2020.
• Reported gross profit of AED 806mn, 24% lower than similar period last year.
• Gross Margins improved from 22.6% margins last year to 27.2% in the current period due to product mix.
• Net losses for the period stood at AED 531 million vs losses of AED 646 million last year, which were mainly due to lower revenue recognition and higher selling and general admin expenses resulting from higher booked sales reported during the period.
• Gross debt (including Sukuk Certificates) at AED 2.6bn as at 31 Dec 2021 vs
AED3.2bn as at 31 Dec 2020
• Non escrow Cash and Bank balance stood at AED 2.2bn as at 31 Dec 2021.
3
Financial Highlights
Revenue | Gross profit | Net loss |
AED 2,967m (FY 2020: AED 4,679m) | AED 806m (FY 2020: AED 1,057m) | -AED 531m (FY 2020: -AED 646m) |
Operating Cashflow | Total assets | Development Properties |
AED 2,636m (FY 2020: AED 1003m) | AED 22,319m (Dec'20: AED 21,602m) | AED 8,585m (Dec'20: AED 8,250m) |
Financial Investments | Cash and Bank | Equity |
AED 2,606m (Dec'20: AED 763m) | AED 4,121m (Dec'20: AED 4,242m) | AED 13,085m (Dec'20: AED 13,449m) |
Gross Debt | Debt to Total Assets | Gross Margins |
AED 2,663m (Dec'20: AED 3,195m) | 11.9% (Dec'20: 14.8%) | 27.2% (FY 2020: 22.6%) |
4
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Damac Properties Dubai Co. PSC published this content on 12 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 April 2022 09:00:03 UTC.