Q1 2019 Result Analyst & Investor Presentation Results 1 - PowerPoint PPT Presentation

Q1 2019 Result Analyst & Investor Presentation Results 1

Table of Contents Executive Summary Page 4 Q1 2019 Key Highlights Page 6 Q1 2019 Operational Highlights by Destination Page 10 Q1 2019 Financials Page 19 Outlook 2019 Page 24 Appendix Page 26 2

Executive Summary Q1 2019 3

Executive Summary • Up 32.4% to CHF 98.1mn in Q1 2019 (Reported). Revenues • Up 47% in Q1 2019 vs. CHF 66.7mn in Q1 2018 (Pro-forma)* . • Up 40.1% to CHF 20.6mn in Q1 2019 (Reported). Adj. EBITDA • Up 76.1% in Q1 2019 vs. CHF 11.7mn in Q1 2018 (Pro-forma)*. • Cash from operations surged by 24.6% to CHF 7.6mn vs. CHF 6.1mn in Q1 2018. Cash from Operations • ODH reports first profitable quarter since 2015; recording a net profit of CHF 1.0mn in Q1 2019 vs. a loss of CHF 5.1mn in Q1 2018 (Reported). Net profit • Q1 2019 net profits of CHF 1.0mn vs. a loss of CHF 7.5mn in Q1 2018 (Pro-forma)*. • Net Real Estate sales up 166.1% to CHF 105.9mn in Q1 2019. Real Estate • Revenues increased by 86.1% to CHF 41.5mn in Q1 2019. • Progressing with the renovation of Cook’s Club Hotel, El Gouna (144 rooms) to be finalized in August 2019. While the construction of the new 100 rooms’ hotel Casa Cook, El Gouna is Hotels expected to be finalized in October 2019. • Working diligently with the Egyptian banks to restructure the debt held on the Egyptian Financing subsidiary ODE expected to be finalized in 1H/Q3 2019. * The Pro forma figures in Q1 2018 excludes Tawmeel Group, Royal and Club Azur hotels which were sold and deconsolidated in Q4 2018. 4

Q1 2019 Key Highlights 5

Q1 2019 Group Financials Revenues (CHF mn) Gross Profit (CHF mn) Adj. EBITDA (CHF mn) 32% 37% 40% 30 98 21 74 22 15 Q1 2018 Q1 2019 Q1 2018 Q1 2019 Q1 2018 Q1 2019 Net Profit (CHF mn) EBITDA (CHF mn) Cash Flow From Operations (CHF mn) 87% 25% 120% 1.0 8 22 6 Q1 2018 Q1 2019 12 Q1 2018 Q1 2019 Q1 2018 Q1 2019 (5) 6

Q1 2019 Key Segment Financials & KPIs Net real estate sales (CHF mn) Real Estate Deferred Revenue Balance Real Estate Portfolio Receivables (CHF mn) (CHF mn) 166% 76% 375 90% 278 106 213 146 40 Q1 2018 Q1 2019 Q1 2018 Q1 2019 Q1 2018 Q1 2019 Town Management Financials (CHF mn) Real Estate Financials (CHF mn) Hotels Financial (CHF mn) 86% 15% 41% 46 42 40 10 55% 15% 112% 7 22 6 18 16 12 (1) (2) Q1 2018 Q1 2019 Q1 2018 Q1 2019 Q1 2018 Q1 2019 Revenues Adj. EBITDA Revenues Adj. EBITDA Revenues Adj. EBITDA 7

Q1 2019 Y-o-Y Revenue Analysis Revenues by Country Q1 2019 (CHFmn) Revenues by Country Q1 2018 (CHFmn) 4% 8% 9% 3.9 6.1 Egypt Egypt 8.4 11% 8.5 Oman Oman UAE UAE CHF 74.1mn CHF 98.1mn Montenegro 53.9 41.8 Montenegro 31.9 17.7 32% 24% 55% 56% Revenues by Segment Q1 2018 (CHFmn) Revenues by Segment Q1 2019 (CHFmn) 6% 11% 10% 4.2 10.4 Hotels 7.4 Hotels Real Estate Real Estate Town Mgt. 46.2 CHF 74.1mn CHF 98.1mn 40.2 Town Mgt. Tamweel 22.3 41.5 30% 54% 42% 47% • 8 Tamweel Group was deconsolidated in Q4 2018 as it was sold for a total equity value of CHF 20mn. • We sold Royal Azur and Club Azur Hotel in Q4 2018 and we deconsolidated them.

Q1 2019 Operational Highlights by Destination 9

Destinations Portfolio Egypt: 1. El Gouna 2. Taba Heights 3. Makadi Heights 4. Fayoum 5. O-West Oman: 6. Hawana Salalah 7. Jebal Sifah UAE: 8. The Cove Montenegro: 9. Luštica Bay Switzerland: 10. Andermatt United Kingdom: 11. Eco - Bos Morocco: 12. Chbika

El Gouna, Egypt Updates Q1 2019 KPIs Q1 2019 Q1 2018 % Chg ➢ Progressing with the renovation of Cook’s Club Hotel (144 rooms) to be finalized Hotels in Aug. 2019. While the construction of Casa Cook Hotel (100 rooms) is expected Total number of rooms * 2,645 2,655 (0.4%) to be finalized in Oct. 2019. Occ. for available rooms (%) 83% 78% 6.4% ➢ Added new inventory in “Ancient Sands Villas” & “Cyan” amounting USD 51mn. TRevPAR (CHF) 75 57 31.6% 8.4 7.0 GOP (CHFmn) 20.0% ➢ In April 2019; hosted El Gouna Int. Squash Championship 2019 & El Gouna Polo GOP PAR(CHF) 38 29 31.0% 2019. Real Estate ➢ 20% of our real estate sales was to foreigners. Net sales (CHFmn) 24.6 21.3 15.5% 37 No of contracted units 64 73.0% Avg. selling price (CHF/m 2 ) 2,431 2,355 3.2% Total El Gouna (CHFmn) Total revenues 41.6 32.8 26.8% Revenues per segment (CHFmn) + 27% 41.6 32.8 8.5 + 37% 6.2 16.3 12.9 + 26% 16.8 + 23% 13.7 Q1 2018 Q1 2019 Hotels Real Estate Destination Management 11

Hawana Salalah, Oman Updates Q1 2019 KPIs Q1 2019 Q1 2018 % Chg ➢ Opened Al Fanar Hotel expansion with 177 rooms. Hotels Total number of rooms 1,081 904 19.6% ➢ Planning to launch a new real estate project in Q2 2019 with a total inventory of Occ. for available rooms (%) 96% 97% (1.0%) CHF 40mn. TRevPAR (CHF) 175 160 9.4% GOP (CHFmn) 8.6 6.0 43.3% GOP PAR (CHF) 89 74 20.3% Real Estate Net sales (CHFmn) 9.7 6.2 56.5% No. of contracted units 65 52 25.0% Avg. selling price (CHF/m 2 ) 1,988 1,598 24.4% Total Hawana Salalah (CHFmn) Total revenues 26.0 13.3 95.5% Revenues per segment (CHFmn) + 95% 26.0 13.3 0.4 8.6 0.2 + 100% 17.0 13.1 + 30% Q1 2018 Q1 2019 Hotels Real Estate Destination Management 12

Luštica Bay, Montenegro Updates Q1 2019 KPIs Q1 2019 Q1 2018 % Chg ➢ New homeowners settled into the Marina Village. Construction is still underway Hotels on the final Magnolija & Kamelija buildings, as well the townhouses & standalone Total number of rooms 111 - - villas. Occ. for available rooms (%) 9% - - ➢ Began construction of Luštica Bay’s town center: Centrale. TRevPAR (CHF) 27 - - GOP (CHFmn) (0.7) - - GOP PAR (CHF) (96) - - Real Estate Net sales (CHFmn) 4.9 3.9 25.6% No of contracted units 10 7 42.9% Avg. selling price (CHF/m 2 ) 4,937 5,998 (17.7%) Luštica Bay Total (CHFmn) Total revenues 3.8 6.1 (37.7%) Revenues per segment (CHFmn) - 38% 3.8 6.1 0.1 6.1 3.5 - 43% 0.2 Q1 2018 Q1 2019 Hotels Real Estate Destination Management 13

Jebal Sifah, Oman Updates Q1 2019 ➢ Planning to launch a new real estate project in Q3 19 with a total inventory of KPIs Q1 2019 Q1 2018 % Chg Hotels CHF 39mn. Total number of rooms 67 67 - ➢ Opened the Marina workshop offering a full range of services to boat owners. Occ. for available rooms (%) 60% 49% 22.4% TRevPAR (CHF) 136 126 7.9% GOP (CHFmn) 0.25 0.18 38.9% GOP PAR (CHF) 41 29 41.4% Rea eal Es Estate Net sales (CHFmn) 5.0 8.4 (40.5%) No of contracted units 21 56 (62.5%) Avg. selling price (CHF/m 2 ) 2,412 1,809 33.3% Total Jebal Sifah (CHFmn) Total revenues 5.9 4.4 34.0% Revenues per segment (CHFmn) + 34% 5.9 4.4 0.4 + 33% 0.3 + 42% 4.7 3.3 - 0.8 0.8 Q1 2018 Q1 2019 Hotels Real Estate Destination Management 14

Makadi Heights, Egypt Updates Q1 2019 KPIs % Chg Q1 2019 Q1 2018 ➢ Finalizing the legal documents for Makadi Gardens Hotel that was sold for c. CHF Real Estate 6.4mn. Net sales (CHFmn) 7.7 0.02 - ➢ Started construction of the grading & infrastructure. No of contracted units 66 1 - Avg. selling price (CHF/m 2 ) 1,006 272 270% Total Makadi (CHFmn) Total revenues 0.7 1.2 (41.7%) Revenues per segment (CHFmn) - 42% 0.7 1.2 0.1 0.1 + 100% 0.2 + 200% 1.0 0.3 - 80% 0.2 Q1 2018 Q1 2019 Hotels Real Estate Destination Management 15

O West, Egypt Updates Q1 2019 ➢ We launched two Phases. The first phase included villas, town and twin houses and the second phase included a wide range of apartments. ➢ Total contracted units to date reached CHF 120.6mn and total reservations reached CHF 74.7mn. ➢ In 2019, we will only recognize revenues of the land portions of the villas that were sold. ➢ Margins for the recognized revenues on 2019 will be close to breakeven due to the upfront sales and marketing activities expenses spent. ➢ Revenues and positive margins will start to kick in starting 2020. KPIs Q1 2019 Real Estate Net sales (CHFmn) 53.0 No of contracted units 174 Avg. selling price (CHF/m 2 ) 1,243 Total O West (CHFmn) Total revenues 7.9 1 CHF = 17.41 EGP 16

Taba Heights, Egypt Updates Q1 2019 KPIs Q1 2019 Q1 2018 % Chg ➢ In Nov. 2018 Itaka polish tour operator operated 2 flights weekly from Poland & Hotels added one more flight in May 2019 from Czech Republic. Total number of rooms 2,365 2,365 - ➢ In April 2019, Satour a new Slovakian tour operator started operating one flight on Number of rooms available 1,282 1,260 1.7% Occ. for available rooms (%) 37% 17% 117.6% a weekly basis (189 seats). TRevPAR (CHF) 128.6% 16 7 GOP (CHFmn) (0.23) (0.35) 34.3% GOP PAR (CHF) (2) (3) 33.3% Total Taba Heights (CHFmn) Total revenues 120.0% 2.2 1.0 Revenues per segment (CHFmn) + 120% 2.2 1.0 0.3 1.9 0.2 + 50% 0.8 + 137% Q1 2018 Q1 2019 Hotels Destination Management 17