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Investor Presentaiton

Revenue Stream 1: Land Sales • Industry-Beating Model 2.7 million m² (excluding Phase III) remain in the pipeline at Sahl Hasheesh. Average sales price grew at a CAGR of 90% before the global 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 at USD 4.01 per m² to a strategic investor In 2013 and 2014, we sold 67,000 m² to the same strategic investor with favorable prices CAGR 26% Weighted Average Cost/m² (USD) 42 42 78 45 2004* 2005 2006 2007 1,327 261 2,039 151 143 2008 40 116 109 2012 2013 2014 2015 4 20 101 641 Land Area Sold (000 m²) 1,317 476 ⚫ 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 among developers . hurting their returns and in turn hurting ERC's land plot prices. Developer Payment Terms: Down Payment: 20% - 30% Installments: 5 - 12 equal semi-annual installments 22.95 Uncapitalized Infrastructure Cost 90 00 1.32 1.75 Cost of Land from TDA Fixed Fee on Sale of Land to TDA Gross Profit • Cost of Infrastructure: Blended weighted average cost for all 3 phases. • TDA Land Payments: Phase - Fully paid Phase II Fully paid Phase III - EGP 273* mn outstanding (Long Term Liability), three years grace + seven years payment • Infrastructure Delivery Terms: 120 days prior to development operations commencement. *As of 30/9/2015 24 Investor Presentation 3Q 2015 ERC Egyptian Resorts Compeny
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