Mabanee

ن

ش

يﺎبﻤﻟا ﺔﻛ� ض

Earnings call transcript

نﻠﻠﺤﻤﻟا ﺮﻤﺗﺆﻣ �ﺤﻣ

Q2-2022

ي

ن

2022 مﺎﻌﻠﻟ يﺎﺜﻟا ﻊــ��ﻟا

Monday, August 8 2022

2022 ﺲﻄﺴﻏأ 8 ﻖﻓاﻮﻤﻟا نﻨﺛﻷا

ي

2:00 p.m. Kuwait Time

ً

ﺖ���ﻟا ﺖ�ﻗﻮﺘﺑ ءﺎﺴﻣ ﺔ�ﻧﺎﺜﻟا ﺔﻋﺎﺴﻟا

Speakers from Mabanee's Executive

Management:

Mr. Tareq Al-Adsani, Deputy Chief Executive Officer Mr. Salman Asadulla, Corporate Finance Unit Head

Moderator:

Ms. Sara Boutros

CI Capital

&

Ms. Reem Al-Hajri

Investor Relations Manager, Mabanee

Introduction

Ms. Sara Boutros -CI Capital

Hello everyone and thank you for dialing in. This is Sara Boutros from CI Capital Research team. We have the pleasure to be hosting today Mabanee's 2Q22 results conference call. From the management team we have with us Mr. Tareq AlAdsani Deputy CEO, Mr. Salman Asadulla, Corporate Finance Unit Head and Ms. Reem AlHajri, IR Manager. As usual, we'll start off with a presentation by management and then we'll open the floor for questions.

Ms. Reem Al Hajri-Investor Relations

A warm welcome to everyone, and on behalf of the

Mabanee management team, I hope that you and your families are staying safe. I would like to remind you that today's discussion will contain forward- looking statements based on the Company's expectations, predictions, and estimates. They are not a guarantee of our future performance, achievement, or results. I would also like to refer you to our full disclaimer on page three of this presentation.

Our format for today's call will include a 10 to 15

minutes discussion, where speakers will share with you their respective statements on the company's

:يﺎبﻤﻟاف ﺔﻛ�ث�فﺔ�ﺬ�ﻔﻨﺘﻟا ةرادﻹا ﻦﻣ نﻮﺛﺪﺤﺘﻤﻟا

ي

ن

يﺬ�ﻔﻨﺘﻟا ﺲ�ﺋﺮﻟا ﺐﺋﺎﻧ -يﺎﺳﺪﻌﻟا قرﺎﻃ ﺪ�ﺴﻟا ﻲﺳﺳؤﻣﻟا لﯾوﻣﺗﻟا ةدﺣو سﯾﺋر - ﷲ ﺪﺳأ نﺎﻤﻠﺳ ﺪ�ﺴﻟا

:روﺎﺤﻤﻟا

سﺮﻄب ةرﺎﺳ ةﺪ�ﺴﻟا

لﺎﺘيﺑﺎك يآ �

يو

ن

يﺮﺟﺎﻬﻟا ﻢ�ر ةﺪ�ﺴﻟا

يﺎبﻣ،ﻦ��ﻤﺜتﺴﻤﻟا تﺎﻗﻼﻋ ﺮﻳﺪﻣ

:ﺔﻣﺪﻘﻤﻟا

لﺎﺘيﺑﺎك يآ �-سﺮﻄب ةرﺎﺳ ةﺪ�ﺴﻟا

ي

�

�

ﻖ��ﻓ ﻦﻣ سﺮﻄب ةرﺎﺳ ﺎﻧأ .لﺎﺼﺗﻻا �ﻋ اﺮﻜﺷو ﻊﻴﻤﺠﻟﺎب ﺎبﺣﺮﻣ

ث ف

مﻮﻴﻟا ﻒ�ﻀﺘﺴ� نأ ﺎﻧﺪﻌﺴ� .لﺎﺘيﺑﺎك يآ � ﺔﻛ� � ثﻮﺤبﻟا

ن

ن

ي

ي

.

ش

ف

يﺎبﻤﻟا

ﺔﻛ�ﻟ 2022 مﺎﻋ ﻦﻣ

يﺎﺜﻟا

ﻊــ��ﻟا ﺞﺋﺎﺘﻨﻟ �ﺗﺎﻬﻟا ﺮﻤﺗﺆﻤﻟا

ف

ي

ﺲ�ﺋﺮﻟا

ﻖ��ﻓ ﻦﻣ ﺎﻨﻳﺪﻟ

ﺐﺋﺎﻧ يﺎﺳﺪﻌﻟا قرﺎﻃ ﺪ�ﺴﻟا ةرادﻹا

ي

ش

تﺎك�ﻟا ﻞ��ﻤﺗ ةﺪﺣو ﺲ�ﺋر ، ﷲ ﺪﺳأ نﺎﻤﻠﺳ ﺪ�ﺴﻟاو ، يﺬ�ﻔﻨﺘﻟا ، ةدﺎﻌﻟﺎك .ﻦ��ﻤﺜتﺴﻤﻟا تﺎﻗﻼﻋ ﺮﻳﺪﻣ ، يﺮﺟﺎﻬﻟا ﻢ�ر ةﺪ�ﺴﻟاو

.ﺔﻠﺌﺳﻸﻟ لﺎﺠﻤﻟا ﺢﺘﻔﻧ ﻢﺛ ةرادﻹا ﻞبﻗ ﻦﻣ ��ﺪﻘﺗ ضﺮﻌب أﺪبنﺳ

ي

يﺎبﻤﻟان ﺔﻛ�ثﻟ ﻦ��ﻤﺜتﺴﻤﻟا تﺎﻗﻼﻋ - يﺮﺟﺎﻬﻟا ﻢ�ر ةﺪ�ﺴﻟا

اﻮﻧﻮﻜﺗ نأ ىﻤﺗأن ،يﺎبﻤﻟاف ةرادإ ﻖ��ﻓ ﻦﻋ ﺔبﺎ�ﻨﻟﺎب ،ﻊﻴﻤﺠﻟﺎب ﺎبﺣﺮﻣ

مﻮﻴﻟا ﺎﻨﺷﺎﻘﻧ نﺄب ﻢكﺮﻛذأ نأ دوأ . نﺎﻣأو �يﺨب ﻢكﺗﻼﺋﺎﻋو ﻢﺘﻧأ

ش

ً

ﺔﻛ�ﻟا

تﺎﻌﻗﻮﺗ �ﻋ ءﺎﻨﺑ ﺔ�ﻠبﻘﺘﺴﻣ تﺎﻧﺎ�ﺑ �ﻋ يﻮﺘﺤ�ﺳ

�

وأ ﺎﻨﺗازﺎﺠﻧإ وأ ﺎﻨﺋادﻷ ﺎﻧﺎﻤﺿ ﺖﺴ�ﻟ ،ﺎﻬﻧأ يأ .ﺎﻬﺗاﺮﻳﺪﻘﺗو ﺎﻬﺗﺎﻌﻗﻮﺗو

ءﻼﺧإ ﺺﻧ �إ ةرﺎﺷﻹا دوأ ،ﻪ�ﻠﻋو

.ﻞبﻘﺘﺴﻤﻟا �ف ﺎﻨﺠﺋﺎﺘﻧ

ي

. ��ﺪﻘﺘﻟا ضﺮﻌﻟا اﺬﻫ ﻦﻣ ﺔﺜﻟﺎﺜﻟا ﺔﺤﻔﺼﻟا �فﻞﻣﺎ�ﻟا ﺔ�ﻟوﺆﺴﻤﻟا

ي

ي

،ﺔﻘ�ﻗد 15 �إ 10 ﻪﺗﺪﻣ ��ﺪﻘﺗ ضﺮﻋ ﺮﻤﺗﺆﻤﻟا �ضمﻮﻴﻟا مﺪﻘﻨﺳ

يي

حﺎ�رأ لﻮﺣ صﺎﺨﻟا ﻢﻬﻧﺎ�ﺑ ﻢكﻌﻣ نﻮﺛﺪﺤﺘﻤﻟا كرﺎﺸ�ﺳ ﺚ�ﺣ

�بﺮﻳ .ش

نﺄب ،ﻢﻠﻌﻟا ﺔ��ﺟأو ﺔﻠﺌﺳأ ﺔﺴﻠﺟ ﺪﻘﻌﺘﺳ ،ﻚﻟذ ﺪﻌب ،ﺔﻛ�ﻟا

1

performance, followed by, a Q&A session. Please note that the accompanying presentation as well as supplemental financial information will be available on our website www.mabanee.comunder the Investor Relations section.

With that, I would like to hand the call over to Mr. Tareq Al Adsani.

Mr. Tareq Al-Adsani

Thank you everyone for joining us this evening and thank you for your interest in Mabanee. We're glad to deliver another record quarter and first half, with revenue growing at 8.46% & 9.79% respectively, recording a net profit of KD 15.24 million, an increase of 14.13% year over year for the quarter and KD 29.76 million for the first half up by 12.47% from last year. The results validate our ability to execute our vision and strategy and determination to enhance it even further going forward. We continue to focus on our plans as have we shown before and we will come to discuss them in detail today.

Now, on to our projects.

The Avenues-Kuwait

Improved retailer confidence drove higher leasing activity, where strong demand for space by renowned retail brands local and international continued during the quarter, this was reflected on the number of leasing deals, and occupancy gains which reached 95.6% as at the end of Q2-22, which is the highest in 4 years and since opening phase 4.

Zoning correction activities and optimizing tenant mix across all phases continues as our leasing team continue executing the leasing strategy to ensure optimal asset management & quality.

ﺎﻬﻧوﺪﺠﺘﺳ ﺔ�ﻟﺎﻤﻟا تﺎﻧﺎ�ﺒﻟا �إ ﺔﻓﺎﺿﻹﺎب ﻖﻓﺮﻤﻟا ��ي ﺪﻘﺘﻟا ضﺮﻌﻟا

فش

تﺎﻗﻼﻋ ﻢﺴﻗ � www.mabanee.com ﺔﻛ�ﻟا ﻊﻗﻮﻣ �ﻋ

ي

.ﻦ��ﻤﺜتﺴﻤﻟا

ن

يﺎﺳﺪﻌﻟا قرﺎﻃ ﺪ�ﺴﻠﻟ ﺔﻤﻠ�ﻟا ﻞﻘﻧأ نأ دوأ نﻵاو

ن

يﺎﺳﺪﻌﻟا قرﺎﻃ /ﺪ�ﺴﻟا

�

�

�ﻋ ﻢكﺮﻜﺸ� و ، ءﺎﺴﻤﻟا اﺬﻫ ﺎﻨﻴﻟإ ﻢكﻣﺎﻤﻀﻧا �ﻋ ﺎﻌ�ﻤﺟ ﻢ�ﻟ اﺮﻜﺷ

ن

ش

�يﻏ ﺔ�ﺑﺎﺠ�ا ﺞﺋﺎﺘﻧ ﻖﻘﺤﻧ نأ ﺎﻧﺪﻌﺴ� .يﺎبﻤﻟا ﺔﻛ�� ﻢكﻣﺎﻤﺘﻫا

ن

ف

ﺖﻤﻧ ﺚ�ﺣ ،مﺎﻌﻟا ﻦﻣ لوﻷا ﻒﺼﻨﻟاو يﺎﺜﻟا ﻊــ��ﻟا � ﺔﻗﻮﺒﺴﻣ

ي

ي

ش

ﻖﻴﻘﺤﺗ ﻊﻣ ، �اﻮﺘﻟا �ﻋ ٪9.79 و ٪8.46 ﺔبﺴنﺑ ﺔﻛ�ﻟا تاداﺮﻳإ

ي

ف

ت

ﺎﻫرﺪﻗ ةدﺎ��ﺑ ، ي��ﻛ رﺎﻨﻳد نﻮﻴﻠﻣ 15.24 ەرﺪﻗ ﻎﻠب ﺢــ�ر �ﺎﺻ

ي

ي

ض

ض

و �ﺎﻤﻟا مﺎﻌﻟا ﻦﻣ يﺎﺜﻟا ﻊــ��ﻟا ﻦﻋ يﻮﻨﺳ سﺎﺳأ �ﻋ ٪14.13

ي

ي

ت

ﻦﻋ ٪12.47 ﺔبﺴنﺑ لوﻷا ﻒﺼﻨﻠﻟ ي��ﻛ رﺎﻨﻳد نﻮﻴﻠﻣ 29.76

ي

ض

ﺎﻨت�ؤر ﺬ�ﻔﻨﺗ

�ﻋ ﺎﻨﺗرﺪﻗ �ﻋ ﺞﺋﺎﺘﻨﻟا ﺪﻛﺆﺗ

مﺎﻌﻟا

.�ﺎﻤﻟا

ن ت

ف

ي

ت

�يﻛ�ﻟا ﻞﺻاﻮﻧ

.ﻞبﻘﺘﺴﻤﻟا � ﺎﻫﺰ��ﻌﺗ �ﻋ ﺎﻨﻤ�ﻤﺼﺗو ﺎﻨتﻴﺠ�ﺗا�ﺳاو

ي

ت

ﺎﻬﺘﺸﻗﺎﻨﻤﻟ قﺮﻄﺘﻧ فﻮﺳ يﻟاو ﻞبﻗ ﻦﻣ ﺎﻨﺤﺿوأ ﺎﻤك ﺎﻨﻄﻄﺧ �ﻋ

ي

.مﻮﻴﻟا ﻞ�ﺼﻔﺘﻟﺎب

ﻞ�ﺼﻔﺘﻟﺎب ﺔﻛ�ثﻟا ﻊــــ�رﺎﺸﻣو لﺎﻤﻋأ ﻦﻋ ﺚ�ﺪﺤﻠﻟ ﻞﻘﺘنﻧ ،نﻵا

ﺖ���ﻟا -زﻮﻴﻨﭬﻷا

ﺐﻠﻄﻟاﺮﻤﺘﺳا ﺚ�ﺣ ، �يﺟﺄﺘﻟا طﺎﺸ� ﻦﻣ ﺔﺋﺰﺠﺘﻟا عﺎﻄﻗ ﺔﻘﺛ تزﺰﻋ

�

�

لﻼﺧ ﺎ�ﻤﻟﺎﻋو ﺎ�ﻠﺤﻣ ﺔ�رﺎﺠﺘﻟا تﺎﻣﻼﻌﻟا ﻞبﻗ ﻦﻣ تﺎﺣﺎﺴﻤﻟا �ﻋ

ت

ﺐﺳﺎكﻣو �يﺟﺄﺘﻟا تﺎﻘﻔﺻ دﺪﻋ �ﻋ ﻚﻟذ ﺲﻜﻌﻧا ﺪﻗو ، ة�ﻔﻟا

�و مﺎﻌﻟا ﻦﻣ

ن

ت

يﺎﺜﻟا

ﻊــ��ﻟا ﺔ�ﺎﻬﻨﺑ ٪95.6 ﺖﻐﻠب يﻟا لﺎﻐﺷﻹا

ي

ي

.ﺔﻌباﺮﻟا ﺔﻠﺣﺮﻤﻟا حﺎﺘﺘﻓا ﺬﻨﻣو تاﻮﻨﺳ ﻊــ�رأ ﺬﻨﻣ �ﻋﻷا

ﺞــــ��ﻣ نﺴﺤﺗوي ﻖﻃﺎﻨﻤﻟا ﻢ�ﺴﻘﺗ ﺢﻴﺤﺼﺗ ﺔﻄﺸ�أ ﺮﻤﺘﺴ�

ﺎﻨﻳﺪﻟ �يﺟﺄﺘﻟا ﻖ��ﻓ ﻞﺻاﻮﻳ ﺚ�ﺣ ﻞﺣاﺮﻤﻟا ﻊﻴﻤﺟ �فﻦ��ﺟﺄﺘﺴﻤﻟا

ي

.ت لﻮﺻﻸﻟ ﻞﺜﻣﻷا ةرادﻹا نﺎﻤﻀﻟ �يﺟﺄﺘﻟا ﺔ�ﺠ�ﺗا�ﺳا ﺬ�ﻔﻨﺗ

2

The Mall's traffic levels evolved positively driven by the kickstart of summer holiday season with an increase of almost 18% from previous quarter's level with YTD performance approaching pre- pandemic levels. We anticipate seeing some growth in footfall mainly driven by the upgrade of road network around the mall, which will ease access to the mall, and the two attached hotels.

ﺔﻋﻮﻓﺪﻣ يﺎﺠب �إ ﻞكﺸ� ﻦ��ﺋاﺰﻟا لﺎبﻗإ لﺪﻌﻣ تﺎ��ﺘﺴﻣ ترﻮﻄﺗ

�

ﺔبﺴنﺑ ةدﺎ�ز ﻊﻣ ﺔ�ﻔ�ﺼﻟا ﺔﻠﻄﻌﻟا ﻢﺳﻮﻣ ﺔ�اﺪبﺑ

ﻦﻋ ﺎب��ﻘﺗ ٪18

ت

ت

ﻦﻣ ﻪﺨ�رﺎﺗ ىﺣ

مﺎﻌﻟا ءادأ با�ﻗا و ﻖﺑﺎﺴﻟا ﻊــ��ﻟا ىﻮﺘﺴﻣ

لﺪﻌﻣ �ضﻮﻤﻨﻟا ﺾﻌب ﺪﻬﺸ� نأ ﻊﻗﻮﺘﻧ .ءﺎ��ﻟا ﻞبﻗ ﺎﻣ تﺎ��ﺘﺴﻣ

ي

�

ﺰﻛﺮﻤﻟا لﻮﺣ قﺮﻄﻟا ﺔﻜبﺷ ﺚ�ﺪﺤﺘﺑ �ﺎﺳأ ﻞكﺸ� ﺎﻋﻮﻓﺪﻣ لﺎبﻗﻹا

ي

ف

نﻗﺪﻨﻔﻟاوي يرﺎﺠﺘﻟا ﺰﻛﺮﻤﻟا �إ لﻮﺻﻮﻟا ﻞﻬﺴ�ﺳ ﺎﻤﻣ ، يرﺎﺠﺘﻟا

. ف ﻪ�ﻓ نﻠﺼﺘﻤﻟاي

Hilton Garden Inn-Kuwait

Hilton Garden Inn Kuwait connected directly to the Avenues-Kuwait through the Forum district, featuring 385 guestrooms including family rooms and suites.

Corporate business & business transient trends were main performance drivers during the quarter Leisure transient trends from both local and GCC visitors continued to boost weekend performance as it is comprising 45% of total segment.

As we look to the remaining of the year, we remain optimistic as we saw the positive momentum continuing into the second half with July performing already above budget where demand from local market has been better than expected. We're happy with the results and we'll continue to work hand in hand with Hilton's management to enhance the hotel's performance.

ﺖ���ﻟا - نإ ندرﺎﺟ نﻮﺘﻠ�ﻫ

ﺖ���ﻟا زﻮﻴنﻴﻓﺄب ةً�شﺎبﻣ ﺖ���ﻟا نإ ندرﺎﺟ نﻮﺘﻠ�ﻫ قﺪﻨﻓ ﻞﺼﺘﻳ

فﺮﻏ ﻚﻟذ �ضﺎﻤب فﻮﻴﺿ ﺔﻓﺮﻏ 385 ﻢﻀ�و ، مورﻮﻓ ﺔﻘﻄﻨﻣ �بﻋ

ي

.ﺔ�ﻠﺋﺎﻋ ﺔﺤﻨﺟأو

ءادﻸﻟ ��ﺋﺮﻟا كﺮﺤﻤﻟا �ي لﺎﻤﻋﻷا عﺎﻄﻘﻟ تﻼﺣﺮﻟا ﺔﻄﺸ�أ ﺖﻧﺎك

ي

ﻦﻣ تﻼﻄﻌﻟا عﺎﻄﻘﻟ تﻼﺣﺮﻟا ﺔﻄﺸ�أ ﺖﻠﺻاو ﺎﻤك. ﻊــ��ﻟا لﻼﺧ

ﺔﻠﻄﻋ ءادأﺰ��ﻌﺗ ��بﻠﺨﻟا نوﺎﻌﺘﻟا ﺲﻠﺠﻣ لودو نﻴﻠﺤﻤﻟاي ﻦ��ﺋاﺰﻟا

ي

.عﺎﻄﻘﻟا �ﺎﻤﺟإ ﻦﻣ ٪45 ﻞكﺸ� ﺎﻬﻧأ ﺚ�ﺣ ع�ﺒﺳﻷا ﺔ�ﺎﻬﻧ

ي

ف

ت

ءادﻷﺎب نﻠﺋﺎﻔﺘﻣ ﻞﻈﻧ ، مﺎﻌﻟا ﻦﻣ ﺔ�ﻘبﺘﻤﻟا ة�ﻔﻟا �إ ﻊﻠﻄﺘﻧ ﺎﻤﻨي�و

ي

فﺜﻟا ﻒﺼﻨﻟا �ف

ﺮﻬﺷ ءادأ نﺎك ذإ ،

�ﻹا ﻢﺧﺰﻟا ﺮﻤﺘﺴ� ﺚ�ﺣ

يﺎ

ييﺎﺠب

ن

ﺎﻤﻣ ﻞﻀﻓأ �ﺤﻤﻟا قﻮﺴﻟا ﻦﻣ ﺐﻠﻄﻟا و ﺔ�ﻧا�يﻤﻟا ﻦﻣ �ﻋأ ﻮﻴﻟﻮﻳ

ي

�

.ﺎﻌﻗﻮﺘﻣ نﺎك

�إ ﺎبﻨﺟ ﻞﻤﻌﻟا ﻞﺻاﻮﻨﺳو ﺞﺋﺎﺘﻨﻟﺎب ءاﺪﻌﺳ ﻦﺤﻧ

.قﺪﻨﻔﻟا ءادأ نﺴﺤﺘﻟي نﻮﺘﻠ�ﻫ ةرادإ ﻊﻣ ﺐﻨﺟ

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Mabanee Company KPSC published this content on 14 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2022 05:32:02 UTC.