Results Presentation

Year ended 31 December 2021

March 2022

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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.

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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%)

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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 06:30:08 UTC.