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February 2018 0 Private and Confidential: For personal use only and - - PowerPoint PPT Presentation

February 2018 0 Private and Confidential: For personal use only and not for distribution or copying Disclaimer This presentation has been prepared by the Investor Relations, Corporate Finance and Management of Amer Group Holding Company S.A.E.


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Private and Confidential: For personal use only and not for distribution or copying

February 2018

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This presentation has been prepared by the Investor Relations, Corporate Finance and Management of Amer Group Holding Company S.A.E. (the “Company”) solely for information purpose to Research Analysts / Institutional Investors. The presentation is confidential and does not constitute or form part of, and should not be construed as, an offer, solicitation or invitation to buy, subscribe or otherwise acquire, any securities of the Company or any member of its group nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of the Company or any member of its group, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. The presentation has been provided to you solely for your information and background and is subject to amendment. The presentation contains forward looking, confidential and important information, data, figures, pictures about the company; and such information is owned by the

  • Company. The presentation or any part of it may not be reproduced or redistributed, passed on, or the contents otherwise divulged in whole or in part or otherwise

disseminated, directly or indirectly, to any other person or published in whole or in part for any purpose without the prior written consent of Amer Group Investor Relations Department, Amer Group Holding. Some of the information contained in this document is still in draft form and has not been legally verified and will only be finalized at the time of Admission and thus may be abridged or incomplete. The information used herein is based on sources that the Company believes to be reliable and accurate. However, no representation or warranty, express, assumed or implied, is made by the Company as to the fairness, accuracy, reasonableness or completeness of the information contained herein and no reliance should be placed on it. Neither the Company, their respective advisers, the existing shareholders of the Company, connected persons of the Company or any other person accepts any liability or responsibility for any loss howsoever arising, directly or indirectly, from the presentation or its contents. The presentation and any materials distributed in connection with the presentation may include forward-looking statements. Forward- looking statements may be indicated by words such as “may,” “will,” “would,” “should,” “expect,” “intend,” “estimate,” “anticipate, “believe” and similar expressions. These forward-looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties, including, without limitation, the risks and uncertainties to be set forth in the Prospectus, because they relate to events and depend on circumstances that may or may not occur in the future. The Company cautions you that forward-looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements contained in the presentation. In addition, even if the Company's results of operations, financial condition and liquidity and the development of the industry in which the Company operates are consistent with the forward-looking statements contained in the presentation, those results or developments may not be indicative of results or developments in future periods. The Company does not undertake any obligation to review, update

  • r confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that

arise after the date of the presentation. This document and any materials distributed in connection with this document are not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. In Egypt, unauthorized dissemination of the information contained herein to the public in whatever form is prohibited and constitutes a violation under Egyptian law.

Disclaimer

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Overview: Amer Group Story

At Start of Construction Post Construction

  • Starting back in 2005 with “Porto

Marina” and delivering the first phase in

  • nly

6 months and delivering the entire project in a

  • ne year.
  • Capitalizing
  • n

the momentum, Amer Group initiated “Golf Porto Marina” in 2006, delivering the golf course after only 6 months, leading to the full delivery of the project in

  • nly 18 months.
  • Following on the success, in 2007,

Amer Group has conquered the Red Sea mountains, “Porto Sokhna”, the project was completed in 2 years with an all rounded destination where a family would simply never have to leave.

In 6 months In 18 months In 2 years

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Overview: Amer Group Story (Cont’d)

  • At that time, the “Porto” brand was

stronger than any of its rivals and Amer Group was the pioneer in bringing the ultimate family destinations bringing the market world class restaurants chains, Hotels and Hotel serviced apartments, malls to accommodate every need of an Egyptian family

  • The
  • verwhelming

success didn’t stop at that, and soon after more projects were stretched on millions of square feet, with “Porto Residence”, “Porto South Beach”, “Porto Matrouh”, “Porto Sharm”, “Porto Cairo” , “Porto New Cairo”, “Porto October”, “Porto Dead Sea” and list keeps going on to reach 15 Porto destinations, till it is fair to say that the name “Porto” will be forever engraved in the minds of Egyptian families and is now a synonym for “Vacation”

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Overview: Amer Group Spin-off

Amer Group has proceeded

with the Spin-Off operation on October 22, 2015 in order to put emphasis on the real estate developing segment that showed strong performance and great success

Porto Group’s strong

performance enabled it to be a standalone public company that is traded on the Egyptian Stock Exchange and that is exposed to a fair comparison with its real estate peers. Amer Group strongly believes that the Spin- Off will pave the way to new business activities in both Amer and Porto groups

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Key Investment Highlights

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A Leading Landloard & Master Developer…

Amer in Brief Land Bank Profile Key Facts Backlog: EGP 2.0 Bn Restated Total Assets: EGP 5.66 Bn. Debt-to-Equity: 0.19x Land Bank; 5.5 Mn. Sqm Total Debt: EGP 348 Mn. Ownership Structure Average Daily Traded Volume (mn)

57.2 31.0 28.0 20.3 17.4 13.9 9.3 8.7 7.7 6.1 OTMT PORTO AMER CCAP PHDC GTHE EMFD AIND EGTS TMGH

23% 85% 47% 0% 77% 15% 53% 100% Marina Sokhna Matrouh Heliopolis Developed Undeveloped Marina Developed: 6,579 Units Undeveloped: 22,768 Units Sokhna Developed: 7,480 Units Undeveloped: 1,320 Units Matrouh Developed: 1,476 Units Undeveloped: 1,682 Units Heliopolis Developed: 0 Units Undeveloped: 1,322 Units

Total Developed: 39% Total Undeveloped: 61%

Restated Pre-tax ROA: 4.1%

  • Amer Group is the creator of Porto
  • Porto is the region’s leading creator and operator of

mixed-use, family-oriented first- and second-home communities

  • Each Porto development offers residential units,

retail shops, hotels, restaurants and entertainment venues in one convenient location.

  • On October 5, 2017, global depositary receipts (each

representing 200 ordinary shares of Amer Group) have been admitted to the London Stock Exchange’s admission to trading only (ATT Only) platform. The program accommodates the conversion of up to 33%

  • f the company’s current outstanding share capital to

GDRs.

Amer’s stock is one of the most liquid stocks on the EGX

SOL GLOBAL HOLDING LIMITED, 33.34 AMER WAKF LTD, 9.98 Lantess Internatinal Limited , 9.83 Egyptian Wakf Limited , 1.85 Mohamed El- Amin Ragb , 6.43 The BNY Mellon (GDRs), 3.30 Fineby Estates Limited, 0.21 free floting , 35.06
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AMER Group’s operations are divided into three primary business segments: Property Investments, Vacation Ownership Club and the Restaurants division

…With a Diversified Yielding Asset Portfolio…

Property Investments Division Vacation Ownership Club (VOC) Restaurants Division

8 Outlets 2 Outlets

1 outlet

16 Outlets 4 Outlets 8 Outlets 3 Outlets 23,440

Members in VOC

2,067

Number of Units

EGP 987 mn

Total Cost of Units

EGP 1.67 bn

Memberships Sold

Amer Group Revenue Profile

2 1 3 5.5 mn Sqm

Land Bank

52%

Occupancy for Malls

1,408

Keys

60%

Residential

2%

Retail

4%

Hospitality

EGP 1.9 bn

Backlog

463

Tenants

11,682

Rental Apartments Property Investment 60% Restaurants 12% Hotels 4% Retail & Others 2% Porto Vacation 21%

Segment Contribution to FY-2017 Revenues

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…A Unique and Innovative Business Model…

Amer secured the first real estate asset backed securitization bond in Egypt in 2014

A Unique Innovative Business Model that is Easily Replicated

Residential Hospitality Retail

(US$ 28,000,000)

Asset Backed Securitization Bond

December 2014 (US$ 37,000,000)

Asset Backed Securitization Bond

June2016

Vacation Clubs

6 Hotels

 Amer currently has 6 hotels, with 744 current hotel rooms and 664 apartment  Amer entered into a partnership with AccorHotels to manage 2 Amer Hotels in Sokhna  Management of remaining Hotels is under negotiation

744 Rooms 664 Apartments

 An underpenetrated and Cairo-centric retail market provides headroom for future developments to reap the benefits of Egypt’s demographic profile and presents the opportunity to exploit other major urban centers  Two main Division: Malls and Restaurants  Amer owns a diversified set of projects that spans Egypt’s key metropolitan areas as well as coastal areas  This includes 2 mn sqm of undeveloped commercial land that the Company is looking to utilize in its development of its commercial sector  It maintains a healthy backlog of EGP c.2bn and an inventory of EGP 779 mn

Covering All Real Estate Development Segment

1 2 3 4

 Amer has a proven track record of executing and delivering its projects over two - three years from the time of booking

Secure Land and Design Projects Revenue Sharing Agreement & Co- Development Construct Pilot Project

This is carried out through an efficient business model which involves:  a) Securing small, inexpensive land plots in frontier locations that can be developed immediately;  b) Concluding revenue-sharing agreement with Porto Group or any other Real Estate Developer;  c) Commencing with a pilot project, which includes the hotel, mall and restaurant sections of the development, where potential customers can visit and get a feel of what to expect;  d) Recognize revenues upon Developer’s recognition of revenues  Establishing strong brand loyalty through vacation ownership club  Strong cash flow generation reclaiming assets ater 30 years  Currently operating Porto sokhna, Porto Marina, Porto Sharm and South beach club

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…And Clear Defined Strategy…

A Clear Strategy Going Forward with Measurable Goals

Land Acquisition Strategy

  • Amer Group strategy is to acquire inexpensive land in strategic locations that

can instantly be monetized and serve as a cash generator

  • Amer Group creates JV’s with third parties and focuses on acquiring

government- owned land by competitive bidding

  • JV partners are co-developers responsible for developing recently

purchased land

Cash Generation Strategy

  • Sales start on off-plan model (advance payment)
  • Construction paced with sales installment schedules
  • Control over the pace of development and delivery
  • Purchasers pay deposit, a portion of which is non- refundable providing

the company with upfront cash Delivering the remaining backlog Enlarging Vacation Club program, finding properties in and out of Porto Distributing annual dividends when possible

Creating JV’s with developers to develop land purchased Increasing market share of malls by launching new locations Leveraging on Restaurant division to develop franchise agreements

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…Spearheaded by a Seasoned Management Team…

Top Executive Management Board of Directors Riad Refaat

Chief Financial Officer

Nancy Sarwat

CEO Vacation Ownership Club

Dalia El Kordy

CEO Restaurants

Mansour Amer

Founder / Chairman & CEO

Omar Amer

Board Member

Salah Amer

CEO & Board Member

Mansour AlTarzi

Board Member

Hany Tawfik

Board Member

Mohamed El-Amin

Board Member

Sherif El-Helw

Board Member

Mansour Amer

Founder / Chairman & CEO

Salah Amer

CEO Real Estate, Hospitality & Malls
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…Leading to a Robust Financial Performance…

Net Revenues (EGP mn) Gross Profit (EGP mn) Net Profit (EGP mn) Leverage Profile (EGP mn) Land Liabilities (EGP mn) Key Highlights

  • FY-2017 Revenues reached EGP 2,155

Million, 12% YoY decrease compared to EGP 2,444 Million in FY-2016.

  • Gross Profit reached EGP 786 Million, with a

Gross Profit Margin of 36.5%.

  • Operating Profit reached EGP 258 Million,

with Operating Profit Margin of 12%.

  • Land liability slightly increased from EGP

37.4 Million in December 31, 2016 to EGP 93 Million in December 31, 2017

  • Debt-to-equity ratio recorded 0.19x in FY-

2017 vs. 0.24x in December 31, 2016 In 2015, Amer Group acquired Heliopolis land which resulted in the spike in land liabilities

1,766.5 1,846.5 2,443.7 2,443.7 1,111.8 1,179.5 1,734.1 1,368.4 2014 2015 2016 2017

Revenues & Cost of revenue

Revenues (MEGP) Cost of Revenue (MEGP) 654.7 667.0 709.6 786.1 37% 36% 29% 37% 0% 10% 20% 30% 40% .0 200.0 400.0 600.0 800.0 1,000.0 2014 2015 2016 2017

Gross Profit & GPM

Gross Profit (MEGP) Gross Profit Margin 213.0 167.9 184.5 93.0 12% 9% 8% 4% 0% 2% 4% 6% 8% 10% 12% 14% .0 50.0 100.0 150.0 200.0 250.0 2014 2015 2016 2017

Net Profit & NPM

Net Profit (MEGP) Net Profit Margin 36.2 396.3 37.4 93.0 2014 2015 2016 2017

Land Liabilities (MEGP)

125.0 185.0 439.3 348.2 10% 13% 24% 19% 0% 5% 10% 15% 20% 25% 30% .0 100.0 200.0 300.0 400.0 500.0 2014 2015 2016 2017

Total Debt & Debt-to-Equity

Total Debt (MEGP) Debt-to-Equity Ratio

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2.2% 1.2% Egypt World

…Underpinned by Favourable Demographic Environment

Large, Young, and Rapidly- Growing Target Market Diversified GDP driving Positive Growth Outlook

Manufacturing, 17% Wholesale and Retail, 14% Agriculture, 12% General Gov't, 10% Real Estate, 10% Extractive, 8% Other Social Services, 5% Construction, 5% Transporation, 5% Other, 13%

Largest population in MENA region

92 40 34 32 11 9 8 6 4 4 2 1 0-14 years, 33% 15-24 years, 19% 25-54 years, 37% 55-64 years, 6% 65 years and over, 4% 2015 Population (mn) Demographic Profile(1)

Young and fast-growing population Diverse economy, able to withstand periods of instability… …Supporting favorable growth outlook

Nominal GDP CAGR ‘16-’19 Nominal GDP FY16 Population Growth ‘10-’15 CAGR

More than 50% of Population under 25 years

19.3% 9.2% 9.1% 9.0% 7.3% 7.2% 6.9% 6.8% 6.2% 5.6% 5.4% 4.0% Egypt Algeria Kuwait Qatar United Arab Emirates Oman Tunisia Saudi Arabia Jordan Morocco Bahrain Lebanon
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Operational & Financial Metrics

Property Investment Performance

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Hotels

  • 6 Hotels
  • 744 Rooms
  • FY 2017 Revenue

EGP 77.2 mn Malls

  • GLA 87K Sqm
  • FY 2017 Revenue

EGP 50.1 mn

Land

  • 5.5Mn Sqm
  • 2.0mn Sqm of

undeveloped land Inventory

  • 567 Units
  • BUA: 39,147 Sqm
  • Inventory Value

EGP779 mn

Property Investment Metrics

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Land Profile

Land Bank Developed % Undeveloped% Total Sqm Matrouh 47% 53% 339 K sqm Marina 23% 77% 1.9 mn sqm Heliopolis 0% 100% 27 K sqm Sokhna 85% 15% 2.6 mn sqm Sharm EL Sheikh 62% 38% 650 K sqm Total 39% 61% 5.5 mn sqm

1 2 3 4

1 2 3 4

Splits of B.U.A. by Type Land Bank Breakdown

Residential, 90% Commercial, 5% Other, 4%

Split by Geographic Location

5 5

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Key Facts & Figures

Total BUA (sqm) 700,093 Total Land (sqm) 1,906,607 Total Sold Units 7,279 Inventory Units 180 Existing Backlog (EGP mn) 483,474,584 Total Sales (EGP mn) 5,356,578,510

Porto Marina & Golf Marina

Revenue Sharing Agreement

Total Units 22,360 Revenue Sharing Agreement 20% Developing Phasing 3 Years

Selling Price (EGP) / Meter

10,575 10,937 11,144 2015 2016 2017

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Porto Sokhna & Golf Sokhna

Key Facts & Figures

Total BUA (sqm) 750,436 Total Land (sqm) 2,574,291 Total Sold Units 6,724 Inventory Units 118 Existing Backlog (EGP) 580,423,473 Total Sales (EGP) 4,666,214,402

Revenue Sharing Agreement (Porto Gr. & Heaven Hills)

Total Units 3,371 Revenue Sharing Agreement 20% up to 30% Developing Phasing 3 Years

Selling Price (EGP) / Meter

10,100 10,819 14,000 2015 2016 2017

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Porto Matrouh

Key Facts & Figures

Total BUA (sqm) 154,794 Total Land (sqm) 329,875 Total Sold Units 1,284 Inventory Units 18 Existing Backlog (EGP) 56,757,117 Total Sales (EGP) 636,353,273

Revenue Sharing Agreement

Total Units 1,017 Revenue Sharing Agreement 20% Developing Phasing 3 Years

Selling Price (EGP) / Meter

10,750 10,948 11,000 2015 2016 2017

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Porto Heliopolis

Key Facts & Figures

Total BUA (m2) 175,830 Residential BUA(m2) 133K Land Area (m2) 26,957 Commercial BUA (m2) 23K Others BUA (m2) 20K

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Porto Sharm

Key Facts & Figures

Total BUA (sqm) 131,837 Total Land (sqm) 648,392 Total Sold Units 2,136 Inventory Units 195 Existing Backlog (EGP) 84,334,596 Total Sales (EGP) 889,738,402

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Inventory

Inventory Highlights

Breakdown by Location Key Figures EGP 779 mn

Inventory to be recognized in 24 months

EGP 1.9 Bn

Backlog to be recognized in 18 months 22% 3% 2% 6% 9% 23% 5% 29%

GMARINA PMARINA PNORAMIC Meeting Point PSBS PSOKHNA PMATROUH PSHARM

Total Inventory: EGP 779 mn

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Collecting Royalty Fee of 1% yearly of contracted Porto Development

Royalty Fee

Total Amount collected since spin-off

=EGP38 mn out of expected EGP2.6 bn

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Operational & Financial Metrics

Hotels Segment

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Hospitality Segment

Partnership Agreement with Accor Key Operational Metrics Overall Capacity Room rate per night (EGP) Hotels segment in Figures

6

Hotels

744

Current Room Key

664

Apartments Keys

11,682

Contracted Rental Apartments 223,569 221,756 266,361 249,874

2014 2015 2016 2017

686 768 877

2015 2016 2017

  • Accor is the leading global hotel
  • perator headquartered in Paris,

France

  • Accor owns, operates and franchises

3,700 hotels in 94 countries

  • The group represents several brands,

from budget and economy lodgings to five-star hotels

  • Partnership Agreement

was concluded between Amer Group and AccorHotels to manage 2 Amer Group’s Hotels in Sokhna Projects

  • Management of

remaining Hotels is under negotiation

  • The partnership will follow a

profit-sharing model where AMER group will retain 90%

  • f net operating profit while

Accor Hotels will earn the remaining 10% supplemented by 1.9% of total revenues as management fees

  • Amer Group has set a

performance benchmark for

  • perating margins at 25% by

the 3rd year of management

Amer Group, 90% Accor Hotels, 10%

Net Operating Profit Split

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Hospitality Segment

*Porto Sokhna

Capacity Utilization Established In Location El Ein el Sokhna 147 62% 2007

  • Avg. Room rate/night

941

*El Jabal

Capacity Utilization Established In Location El Ein el Sokhna 32 42% 2015

  • Avg. Room rate/night

564

Porto South Beach

Capacity Utilization Established In Location El Ein el Sokhna 84 45% 2015

  • Avg. Room rate/night

451 Capacity Utilization Established In Location

*Porto Marina

  • Avg. Room rate/night

North Coast 320 50% 2005 1,222

Golf Porto Marina

Capacity Utilization Established In Location North Coast 66 46% 2012

  • Avg. Room rate/night

1,098

Porto Matrouh

Capacity Utilization Established In Location Marsa Matrouh 95 35% 2014

  • Avg. Room rate/night

781 Porto Marina, Porto Sokhna and El Jabal are managed by Accor Hotels

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Operational & Financial Metrics

Malls Segment

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27 49.4 55.8 50.1 15.8 21.2 37.7 2015 2016 2017

Revenue Cost of revenue

Commercial Segment

Malls Overview

87 k sqm

Operational GLA of which, 100% is owned Key Operational Metrics Revenues & Cost of Revenues (EGP mn) Porto Marina Golf Marina Meeting Point Sky Mega Water Front Porto Matrouh Indoor

Gross Leasable Area (Sqm) 11,394 7,286 7,872 3,571 9,979 1,870 3107 Rental (Sqm) 9,589 5,437 291 1,444 8,521 1,424 521 Average Occupancy Rate 84% 75% 4% 40% 85% 76% 17%

Outdoor

Gross Leasable Area (Sqm) 6,770 9,034 2,119 684 3,367 4,913 2,195 Rental Sqm) 4,283 4,850 262 477 2,926 980 783 Average Occupancy Rate 63% 54% 12% 70% 87% 20% 36%

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Operational & Financial Metrics

Restaurants’ Strategy

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Increasing Brand Value

  • 20 Countries
  • 10 Governments
  • 50 Stores
  • 10 M NP

Maximum Utilization

  • 12 Million Annual Rent

Adding new chains Increasing Chilis Value in Egypt

  • 16 Restaurants
  • 17 M 2018 NP
  • M Value 102 M

Restaurants Vision

  • Mama: 2 outlets
  • Sombrero: 1 outlet
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Operational & Financial Metrics

Vacation Ownership Club

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Vacation Ownership Club

23,440

Members in Vacation Ownership Club

EGP 1.67 bn

Total membership sold to date

2,067

Total number of units

EGP987 Million

Total cost of units

Strategy and Key Metrics Membership Evolution Existing Clubs

14,951 16,842 19,754 23,440

2014 2015 2016 2017

Acquire units Establish club Sell memberships Revenues from

  • perations,

services Reclaim asset after 30 years (1,652 units)

VOC Target: is to sell 1000 units with 12,000 Memberships within the next 3 years Location

Porto Sharm Porto Sokhna South Beach Porto Marina Muti Destinati

  • n

Capacity (Units)

166 387 1,097 234 183

Memberships

1,708 4,488 12,726 2,675 1,843

Cumulative Cashflow (EGP mn)

539 762 945 1,125

2014 2015 2016 2017

  • To become the largest Vacation Ownership Company

in the Middle East & Africa and to create genuine Vacation Opportunities that can be passed on from one Generation to the next.

  • Through a combination of Member loyalty and unique

Service Experiences, Vacation Ownership club will have a portfolio of products to meet all client needs and demands in today’s marketplace.

  • We have 19,754 members with one Sales Channel, we

Target 50,000 Members with expanding Sales Channels to 15, plus to include Governmental Bodies, International Market, GCC + EU + Corporate Market

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Valuation Buildup vs. Current Market Cap

1,33 2 Market Cap

Current Market cap is currently at a discount of 83% to its implied market value

EGP 485 6,234 2,600 1,128 740 737 318 226 Net Cash Land Malls Inventory Hotels Vacation Ownership Club Restaurants Total Millions

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Appendix

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Amer Group Balance Sheet

Item (EGP) 31-DEC-17 31-DEC-16 Non-current Assets Fixed Assets

703,909,029 854,706,543

Projects Under Construction

57,530,071 104,838,887

Investment Property Assets

219,245,929 293,087,888

Intangible Assets

141,313 141,313

Investments in Associates
  • 5,001,000
Down Payment for Purchase of Investments in Companies

5,001,000 34,550,752

Restricted Deposits due to Units Owners

671,204,374 653,495,849

Total Non-current Assets

1,657,031,716 1,945,822,232

Current Assets Development Properties

2,306,887,273 2,446,179,568

Inventories

26,557,726 21,879,139

Accounts & Notes Receivables

536,118,172 269,459,045

Prepayments & Other Receivables

379,289,998 314,694,650

Bank Balances & Cash

755,384,589 893,057,958

Total Current Assets

4,004,237,758 3,945,270,360

Total Assets

5,661,269,474 5,891,092,592

Current Liabilities Provisions

6,002,379 3,045,926

Bank Overdrafts

42,323,457 38,410,342

Land Purchase Liability

42,299,022 37,410,342

Advances from Customers

1,373,857,173 1,620,510,942

Accounts & Notes Payable

441,002,787 478,758,431

Term Loans

46,945,417 68,328,884

Income Tax Payable

23,648,410 23,801,418

Accrued Expenses & Other Payables

858,139,533 791,393,469

Total Current Liabilities

2,834,218,178 3,061,615,432

Working Capital

1,170,019,580 883,654,928

Total Invested Funds

2,827,051,296 2,829,477,160

Financed as Follows: Equity Share Capital

1,003,099,822 911,908,929

Translation of Foreign Entity

238,983,361 246,542,676

Legal Reserve

50,733,848 50,733,848

General Reserve

12,055,859 12,055,859

Other Reserves

7,976,113 7,976,113

Retained Earnings

483,561,791 551,676,535

Minority Interest

7,122,856 20,077,961

Total Equity

1,803,533,650 1,800,971,921

Non-current Liabilities Term Loans

258,950,260 332,519,795

Land Purchase Liability

50,655,446

  • Deposits due to Units Owners

671,204,374 653,495,849

Notes Payable
  • 1,643,000
Deferred Tax Liability

42,707,566 40,846,595

Total Non-current Liabilities

1,023,517,646 1,028,505,239

Total Equity & Long Term Liabilities

2,827,051,296 2,829,477,160

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SLIDE 37

Private and Confidential: For personal use only and not for distribution or copying

36

Amer Group Income Statement

Amer Group Income Statement for FY-2017

Item (EGP) FY-2017 FY-2016 Change Revenue

2,154,773,832 2,443,731,220

  • 12%

Cost of Revenue

(1,368,415,694) (1,734,098,263)

  • 21%

Gross Profit

786,358,138 709,632,957 11%

Selling and Marketing Exp

(225,438,453) (126,672,398) 78%

General and Admin Exp

(268,127,839) (265,122,112) 1%

Other Income

161,387,987 108,109,659 49%

Other Operating Exp

(196,248,272) (124,037,065) 58.2%

Operating Profit

257,931,561 301,911,041

  • 15%

Finance Cost

(203,816,579) (115,084,633) 77%

FX Gain (Loss)

64,305,553 47,125,140 36%

Profit for the Year Before Tax

118,420,535 233,951,548

  • 49%

Income Tax

(25,443,042) (49,498,295)

  • 49%

Profit for the Year

92,977,493 184,453,253

  • 49.6%
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SLIDE 38

Th Than ank k Yo You