Mabanee Company (K.P.S.C)

(...)

Paid Up Capital K.D 124,168,357.400

.

. •••

Commercial Register 4421

•••• •-

P.O.Box: 5132 Safat 13052 Kuwait

€'ƒ "…† ‡.ˆ

Tel: +965 2224 4444 Fax: +965 2224 4440

+‰

. :Š +‰

:‹…ŒŽ

www.mabanee.com

Mabanee

ا ملا ةك

Earnings call transcript

للحملا رمتؤم حم

Q3-2022

2022 ماعلل ثلاثلا عــ لا

Wednesday, October 26 2022

2022 ر ت أ 26 قفاوملا ءاع رﻷا

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:

Mr. Amr Amin

CI Capital

&

Ms. Reem Al-Hajri

Investor Relations Manager, Mabanee

Introduction

Mr. Amr Amin -CI Capital

Hello and welcome everyone to the Mabanee Q3- 22 results conference call hosted by CI Capital. My name is Amr Amin, Head of Corporate Access at CI Capital, and today I have the distinct pleasure of introducing Mabanee Deputy CEO Mr. Tareq AlAdsani, Corporate Finance Unit Head Mr. Salman Asadulla, and Investor Relations Manager Ms. Reem AlHajri. Following a presentation of Mabanee's quarterly performance, the floor will then be open to a QA session.

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.

:يﺎبﻤﻟاف ﺔﻛ�ثفﺔ�ﺬ�ﻔﻨﺘﻟا ةرادﻹا ﻦﻣ نﻮﺛﺪﺤﺘﻤﻟا

ي

ن

قرﺎﻃ ﺪ�ﺴﻟا

يﺬ�ﻔﻨﺘﻟا ﺲ�ﺋﺮﻟا ﺐﺋﺎﻧ -يﺎﺳﺪﻌﻟا

ﻲﺳﺳؤﻣﻟا لﯾوﻣﺗﻟا ةدﺣو سﯾﺋر - ﷲ ﺪﺳأ نﺎﻤﻠﺳ ﺪ�ﺴﻟا

نﻣأ

:روﺎﺤﻤﻟا

وﺮﻤﻋ ﺪ�ﺴﻟا

ي

لﺎﺘيﺑﺎك يآ �

يو

ن

يﺮﺟﺎﻬﻟا ﻢ�ر ةﺪ�ﺴﻟا

يﺎبﻣ،ﻦ��ﻤﺜتﺴﻤﻟا تﺎﻗﻼﻋ ﺮﻳﺪﻣ

:ﺔﻣﺪﻘﻤﻟا

لﺎﺘيﺑﺎك يآ �-نﻣأ وﺮﻤﻋ ﺪ�ﺴﻟا

ي

ي

ً

ﻊــ��ﻠﻟ

ن

ش

ف

ف

يﺎبﻤﻟا

ﺔﻛ� ﺞﺋﺎﺘﻨﻟ �ﺗﺎﻬﻟا ﺮﻤﺗﺆﻤﻟا � ﻊﻴﻤﺠﻟﺎب ﺎبﺣﺮﻣو �ﻫأ

ي

ي

وﺮﻤﻋ �ﺳإ

.لﺎﺘيﺑﺎك يآ � ﻪﻔ�ﻀﺘﺴ�

ت

2022 مﺎﻌﻟ ﺚﻟﺎﺜﻟا

ي

ي

يﻟاو

ف

ش

ﺐﺋﺎﻧ مﺪﻗأ

نﻣأ

ﺔﻛ�ﻟ يﺬ�ﻔﻨﺘﻟا ﺲ�ﺋﺮﻟا

نأ مﻮﻴﻟا يﺪﻌﺴ�و

ي

ي

ش

ن

ن

تﺎك�ﻟا ﻞ��ﻤﺗ ةﺪﺣو ﺲ�ﺋرو ، ئﺎﺳﺪﻌﻟا قرﺎﻃ ﺪ�ﺴﻟا ئﺎبﻤﻟا

ي

ي

ﻢ�ر ةﺪ�ﺴﻟا ﻦ��ﻤﺜتﺴﻤﻟا تﺎﻗﻼﻋ ةﺮﻳﺪﻣو ، ﷲ ﺪﺳأ نﺎﻤﻠﺳ ﺪ�ﺴﻟا

ﻢﺘيﺳ ،

ض

ش

يﺎبﻤﻟا

ﺔﻛ�ﻟ �ﺼﻔﻟا ءادﻸﻟ ��ﺪﻘﺗ ضﺮﻋ ﺪﻌب .يﺮﺟﺎﻬﻟا

ي

ي

.ﺎﻬﻴﻠﻋ ﺔبﺎﺟﻹ ﻢكﺘﻟﺄﺳأ لﺎبﻘﺘﺳا

ن

ث

يﺎبﻤﻟا ﺔﻛ�ﻟ ﻦ��ﻤﺜتﺴﻤﻟا تﺎﻗﻼﻋ - يﺮﺟﺎﻬﻟا ﻢ�ر ةﺪ�ﺴﻟا

ن

ف

اﻮﻧﻮﻜﺗ نأ ىﻤﺗأ ،يﺎبﻤﻟا 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

1

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 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 hope you are all doing well and staying safe. Despite the ongoing challenging global environment, Mabanee continued to perform very well with record quarter and 9-months period, with revenue growing at 16.2% & 12% respectively, recording a net profit of KD 15.5 million, an increase of 9.2% year over year for the quarter and KD 45.25 million for the 9- months period up by 11.30% from last year. Our underlying third quarter growth reflects our vision and determination to enhance it even further going forward.

Now, on to our projects.

The Avenues-Kuwait

The Avenues continues to be investors primary choice for their outlets, with the strong demand for space by renowned retail brands local and international both existing and new ones continued during the period, this was reflected on the number of leasing deals, and occupancy gains which reached 96% as at the end of Q3-22, representing an increase of 40 bp compared to previous quarter. Zoning correction activities and optimizing tenant mix across all phases continues as our leasing team

،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

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

ف

ي

ش

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

اﻮﻧﻮﻜﺗ نأ ﻞﻣآو ، ءﺎﺴﻤﻟا اﺬﻫ ﺎﻨﻴﻟإ ﻢكﻣﺎﻤﻀﻧا �ﻋ ﺎﻌ�ﻤﺟ ﻢ�ﻟ اﺮﻜﺷ

تﺎ�ﺪﺤﺘﻟا ﻦﻣ ﻢﻏﺮﻟا �ﻋ .نﺎﻣﺄب اﻮﻠﻈﺗ نأو ةﺪ�ﺟ ﺔﺤﺼب ﺎﻌ�ﻤﺟ

ش

ت

ﺔﻛ� نأ ﻻإ ، ةﺮﻤﺘﺴﻤﻟا و ﺔ�ﻤﻟﺎﻌﻟا لﺎﻤﻋﻷا ﺔﺌيﺑ ﺎﻫﺪﻬﺸ� ئﻟا

ي

ن

ﻊــ��ﻟا لﻼﺧ ﺔ�ﺑﺎﺠ�إ ﺞﺋﺎﺘﻧ ﻖﻴﻘﺤﺗ ﻊﻣ ﺪ�ﺠﻟا ﺎﻫءادأ ﺖﻠﺻاو يﺎبﻤﻟا

ت

تاداﺮﻳﻹا ﺖﻤﻧ ﺚ�ﺣ ، ﺮﻬﺷأ ﺔﻌﺴتﻟا ة�ﻓ و مﺎﻌﻟا ﻦﻣ ﺚﻟﺎﺜﻟا

ف

ﻎﻠب ﺢــ�ر �ﺎﺻ ﻚﻟﺬب ﺔﻠﺠﺴﻣ ، �اﻮﺘﻟا �ﻋ ٪12 و ٪16.2 ﺔبﺴنﺑ

ي

ي

ت

سﺎﺳأ �ﻋ ٪9.2 ﺎﻫرﺪﻗ ةدﺎ��ﺑ ، ي��ﻛرﺎﻨﻳد نﻮﻴﻠﻣ 15.5 ەرﺪﻗ

ي

ض

رﺎﻨﻳد نﻮﻴﻠﻣ 45.25 و ،�ﺎﻤﻟا مﺎﻌﻟا ﻦﻣ ﺚﻟﺎﺜﻟا ﻊــ��ﻟا ﻦﻋ يﻮﻨﺳ

ي

ض

ت

.�ﺎﻤﻟا مﺎﻌﻟا ﻦﻋ ٪11.30 ﻪﺘبﺴ� عﺎﻔﺗرﺎب ﺮﻬﺷأ ﺔﻌﺴتﻟا ة�ﻔﻟ

ي

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

ﺖ���ﻟا -زﻮﻴﻨﭬﻷا

ﺔﺻﺎﺨﻟا ﻊﻴﺒﻟا ﺬﻓﺎﻨﻤﻟ ﻦ��ﻤﺜتﺴﻤﻠﻟ لوﻷارﺎ�ﺨﻟا ﻮﻫزﻮﻴﻨﻓﻷا لاﺰﻳ ﻻ تﺎﻣﻼﻌﻟا ﻞبﻗ ﻦﻣ تﺎﺣﺎﺴﻤﻟا �ﻋ ﺐﻠﻄﻟا ﺮﻤﺘﺴ� ﺚ�ﺣ ، ﻢﻬﺑ ﺪﺣ �ﻋ ةﺪ�ﺪﺠﻟاو ﺔﻤﺋﺎﻘﻟا ﺔ�ﻟوﺪﻟاو ﺔ�ﻠﺤﻤﻟا ة�يﻬﺸﻟا ﺔ�رﺎﺠﺘﻟا

ت

�يﺟﺄﺘﻟا تﺎﻘﻔﺻ دﺪﻋ �ﻋ ﻚﻟذ ﺲﻜﻌﻧا ﺪﻗو ، ة�ﻔﻟا لﻼﺧ ءاﻮﺳ

ﻊــ��ﻟا ﺔ�ﺎﻬﻧ �فﺎﻤك ٪96 �إ ﺖﻠﺻو

ت

لﺎﻐﺷﻹا ﺐﺳﺎكﻣو ،

ي

يﻟا

ﺔﻄﻘﻧ 40 ﺎﻫرﺪﻗ ةدﺎ�ز ﻞﺜﻤ� ﺎﻣ ﻮﻫو ، يرﺎﺠﻟا مﺎﻌﻟا ﻦﻣ ﺚﻟﺎﺜﻟا ﻢ�ﺴﻘﺗ ﺢﻴﺤﺼﺗ ﺔﻄﺸ�أ ﺮﻤﺘﺴ� .ﻖﺑﺎﺴﻟا ﻊــ��ﻟﺎب ﺔﻧرﺎﻘﻣ سﺎﺳأ

2

continue executing the leasing strategy to ensure optimal asset management & quality.

The Mall's traffic levels continue to evolve positively driven by both the remaining summer holiday and back-to-school seasons, with an increase of almost 10% from the previous quarter's level and a YTD performance approaching pre-pandemic levels. We expect a better traffic flow to the mall end of the year as the roads network project, which is currently surrounding the mall, approaches its final stages of completion. The project is included in the plan of the Public Authority for Roads and Transportation (PART) in developing the road network and infrastructure system in various areas of Kuwait.

ﻊﻤﺠﻤﻟا ﻞﺣاﺮﻣ ﻊﻴﻤﺟ �فﻦ��ﺟﺄﺘﺴﻤﻟا ﺞــــ��ﻣ نﺴﺤﺗوفي ﻖﻃﺎﻨﻤﻟا

ي

ت

نﺎﻤﻀﻟ �يﺟﺄﺘﻟا ﺔ�ﺠ�ﺗا�ﺳا ﺬ�ﻔﻨﺗ ﺎﻨﻳﺪﻟ �يﺟﺄﺘﻟا ﻖ��ﻓ ﻞﺻاﻮﻳ ﺚ�ﺣ

.�ﺜﻤﻟا ةدﻮﺠﻟاو لﻮﺻﻷا ةرادإ

يﺎﺠب

�إ ﻞكﺸ� رﻮﻄﺘﻟا �ف لﻮﻤﻟا �فروﺮﻤﻟا ﺔﻛﺮﺣ تﺎ��ﺘﺴﻣ ﺮﻤﺘﺴ�

ي

ي

�إ ةدﻮﻌﻟا

ﻢﺳاﻮﻣو ﺔ�ﻔ�ﺼﻟا

ت

ﺔﻠﻄﻌﻟا ﻦﻣ �بﺗ ﺎﻤب ﺔﻋﻮﻓﺪﻣ

ﻖﺑﺎﺴﻟا ﻊــ��ﻟا ىﻮﺘﺴﻣ ﻦﻋ ﺎب��ﻘﺗ ٪10 ﺔبﺴنﺑ ةدﺎ�ز ﻊﻣ ، ﺔﺳرﺪﻤﻟا

ت

ﻞﻀﻓأ ﺎﻘﻓﺪﺗ ﻊﻗﻮﺘﻧ .ءﺎ��ﻟا ﻞبﻗ ﺎﻣ تﺎ��ﺘﺴﻣ ﻦﻣ ب�ﻘ� ءادأو

ث

ت

عو�ﻣ ب�ﻘ� ﺚ�ﺣ مﺎﻌﻟا ﺔ�ﺎﻬﻧ يرﺎﺠﺘﻟا ﺰﻛﺮﻤﻟا �إ روﺮﻤﻟا ﺔﻛﺮﺤﻟ

ﺔ�ﺋﺎﻬﻨﻟا ﻞﺣاﺮﻤﻟا ﻦﻣ ، ﺎ�ﻟﺎﺣ لﻮﻤﻟﺎب ﻂ�ﺤ� يﺬﻟا ، قﺮﻄﻟا ﺔﻜبﺷ

ض

ش

ض

قﺮﻄﻠﻟ ﺔﻣﺎﻌﻟا ﺔﺌﻴﻬﻟا ﺔﻄﺧ � عو�ﻤﻟا نﻤﻀﺗ ﻢﺗ .لﺎﻤﺘ�ﻻا ﻦﻣ

ي

ي

ﺔﻜبﺷ ﺮ��ﻄﺗ �فﺔ�ﻨﻌﻤﻟاو ،ﺖ���ﻟا ﺔﻟود �ف(PART) تﻼﺻاﻮﻤﻟاو

يي

. ﺖ���ﻟا ﻦﻣ ﺔﻔﻠﺘﺨﻣ ﻖﻃﺎﻨﻣ �فﺔ�ﺘﺤﺘﻟا ﺔ�نﺒﻟا مﺎﻈﻧو قﺮﻄﻟا

ي

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.

Performance, which was driven by predominantly leisure segment use, pushed occupancy rates higher during the quarter especially during the month of July, over the strong demand in Eid al Adha and the Avenues Carnival event at the mall. With occupancy rate at 45.9% during the third quarter (9-months 39% vs. 28% in 2021), leisure transient trends from both local and GCC visitors continued to boost weekend performance.

ﺖ���ﻟا - نإ ندرﺎﺟ نﻮﺘﻠ�ﻫ

ﺖ���ﻟا زﻮﻴنﻴﻓﺄب ةًشﺎبﻣ ﺖ���ﻟا نإ ندرﺎﺟ نﻮﺘﻠ�ﻫ قﺪﻨﻓ ﻞﺼﺘﻳ

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

ي

.ﺔ�ﻠﺋﺎﻋ ﺔﺤﻨﺟأو

  • ﻪ�ﻓ�تﻟا عﺎﻄﻗ ﻦﻣ �ي ﺎﺳأ ﻞكﺸ� ﺎﻋﻮﻓﺪﻣ نﺎك يﺬﻟا ، ءادﻷا ىدأ ﻮﻴﻟﻮﻳ ﺮﻬﺷ لﻼﺧ ﺎﻤ�ﺳ ﻻ ﻊــ��ﻟا لﻼﺧ لﺎﻐﺷﻹا تﻻﺪﻌﻣ عﺎﻔﺗرا �إ

زﻮﻴﻨﻓﻷا لﺎﻔﻧﺮﻛ تﺎ�ﻟﺎﻌﻓو �ﺿﻷا ﺪ�ﻋ �ضيﻮﻘﻟا ﺐﻠﻄﻟا ﺐبﺴ� ،

ي

9) ﺚﻟﺎﺜﻟا ﻊــ��ﻟا لﻼﺧ ٪45.9 ﻎﻠب لﺎﻐﺷإ لﺪﻌﻣ ﻊﻣ .لﻮﻤﻟا �ف

ي

ف

ف

ف

ﺔﻄﺸ�أ ﺖﻠﺻاو نﺣ � ، (2021 مﺎﻋ � %28 ﻞبﺎﻘﻣ ٪39 ﺮﻬﺷأ

ي

ي

ي

ﺲﻠﺠﻣ لودو نﻴﻠﺤﻤﻟاي ﻦ��ﺋاﺰﻟا ﻦﻣ تﻼﻄﻌﻟا عﺎﻄﻘﻟ تﻼﺣﺮﻟا

.ع�ﺒﺳﻷا ﺔ�ﺎﻬﻧ ﺔﻠﻄﻋ ءادأ ﺰ��ﻌﺗ ��بﻠﺨﻟا نوﺎﻌﺘﻟا

ي

3

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Mabanee Company KPSC published this content on 31 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2022 08:09:00 UTC.