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Investor Presentaiton

Revenue Stream 1: Land Sales Industry-Beating Model 3.1 million m² (excluding Phase III and Sawari Marina) remain in the pipeline at Sahl Hasheesh. Average sales price grew at 89% annually before the financial crisis and profit margins reached 84%. Weighted Average Sales Price/m² Achieved (USD) * 2004 WAP was low due to a one-time promotional 1 million m² Golf course sold @ USD 4.01 per m² to a strategic investor CAGR = 90% Weighted Average Cost/m² (USD) 78 42 45 2004* 2005 2006 143 2007 2008 1,327 261 Land Area Sold (000 m²) 2,039 1,317 476 18.00 Uncapitalized Infrastructure Cost 1.32 1.75 120 Cost of Land from TDA Fixed Fee on Sale of Land to TDA Gross Profit ⚫ ERC maintained long-term land bank residual value by controlling end- consumer supply by not engaging new land plot sales in 2009 and 2010. • Excessive supply will result in price competition amongst developers hurting their returns and in turn hurting ERC's land plot prices. Developer Payment Terms: Down Payment: 20% - 30% Installments: 5-8 equal semi-annual installments • Cost of Infrastructure: Blended weighted average cost for all 3 phases. • TDA Land Payments: Phase I - Fully paid Phase II - Fully paid Phase III - EGP 197.7 mn outstanding, 3 years grace + 7 years payment • Infrastructure Delivery Terms: 120 days prior to development operations commencement. 23 Investor Presentation 2012 ERC Egyptien Resorts Company
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