Residences Dar Saada S A : Q1 2021 financial communication

Presales

Residences Dar Saada Group continues to improve its presale level, thus taking advantage of the gradual recovery of the real estate sector since the second half of 2020. Thus, the number of pre-sold units during the first quarter of the year stands at 649 units, an increase of 20% comparing to the same period of 2020.

The secured turnover thus increases from MAD 1.2 billion at the end of 2020 to around MAD 1.4 billion at the end of March 2021.

Debt*

Pursuing the debt control policy, the Group paid back MAD 130 million of bank debt, excluding interest, during the fist quarter of 2021. Thus, the overall debt, including leases (IFRS 16) and excluding cash, stands at MAD 2.66 billion at the end of March 2021, against MAD 2.73 billion at the end of December 2020, a decrease of 3%.

Presales (in units)

Turnover

During the first quarter of 2021, Residences Dar Saada Group achieved a turnover of MAD 92 Million, an increase of 2% comparing to the same period of 2020. All units delivered during the first quarter come from the stock of achieved units before 2021. We have started the construction 732 new units during the first quarter 2021. Therefore the number of units under construction raised to around 5,000 units. These units will be completed from 2021.

Almost all the turnover comes from the delivery of units developed by Résidences Dar Saada Ltd.

Turnover (MAD Million)

Debt * (MAD Million)

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* Including leases (IFRS 16) and excluding cash

Consolidation Scope

No change has occurred in the scope of consolidation compared to the end of 2020.