- Record of attendance and goods turnover, overall in the shopping mall, mln people
- Conversion and average check in US$
- Goods turnover per m2 per month in US$
- Average weighted rate per m2 in US$
- Debt ratio
- Financial indicators of Dostyk Plaza
- Financial indicators of Shymkent Plaza
- Financial indicators of Cinemax in Almaty and Shymkent
- Ownership Structure of the Company
The gross leasable area (GLA) of both malls is equal to 80,000 m2.
Limited movement of citizens and limited activity of the shopping mall related with quarantine measures resulted into an overall decrease in attendance in 2020 by 44% in comparison to 2019. In 2021, it is planned to restore attendance to the level of 2019.
Despite the incomplete eight out of twelve months of unstable operations of both malls in 2020, the total trade turnover decreased only by 30%, which indicates an active restoration process upon each opening and removal of restrictions.
In terms of ongoing restrictions, the restoration of trade in 2021 is forecasted to be just above the level of 2018.
According to conversion indicators, stable growth was maintained annually, which reflects the quality of traffic attracted to the mall.
The average check indicator has a positive trend of annual growth. However, the introduced restrictions changed the previously formed habits of buyers having an impact on conversion rates and the average check.
Thus, the growth of the average check for the consumer, in the absence of entertainment offers, indicates a purposeful buyer's visit to the shopping mall for the purpose of a specific purchase, without the need to visit the facility by the whole family.
Goods turnover per square meter is one of the most important indicators and reflects the efficient use of trading space.
The above chart shows a positive trend with growth by year, with the exception of 2020, when the decrease is explained by the partial downtime of tenants with high turnover.
Restoration is conservatively scheduled for 2021 taking into account the ongoing complete prohibition, or the minimum removal of restrictions on operations of some tenants.
The positive trend of the weighted average rental rate for the mall reflects the high-quality rotation of tenants and the attraction of new brands. Despite the difficulties faced by the business, the occupancy of the mall was kept at a high level in Shymkent Plaza shopping mall and was almost kept at the level of 2019 in Dostyk Plaza shopping mall. At the same time, in order to support small businesses, the company provided significant discounts to tenants by accepting a temporary reduction in the average weighted rate.
Debt ratio is an indicator which reflects the ratio of debt obligations to operating income of the company.
One of the main tasks is to reduce the debt ratio to ensure financial sustainability.
This indicator significantly decreased for the period from 2017 to 2019 due to the efficient management of the loan debt.
However, along with a decrease in revenue in 2020, the proportion to debt changed, as a result of which the debt ratio increased.
The target average weighted value of this indicator for 2021 is 5.0 for both malls.
Income resulting from the main operations of the shopping malls is the rental of retail space in its own real estate.
In 2019, the profitability of Dostyk plaza project amounted to 77%, which is a high efficiency indicator for this type of business.
In 2020, due to efficient cost management, against the background of a significant decrease in revenues, it was possible to keep the project profitability at 73%. Such indicator is expected to be kept at the same level in 2021.
The profitability of Shymkent Plaza mall project decreased in 2020 to 54% as compared to 2019, 60%.
In 2021, the company sets realistic plans to restore revenue. At the same time, having the priority of preserving the conditions for a comfortable stay for visitors in the shopping mall, the company intends to restore the normal level of operating expenses.
The main sources of income for the Cinemax cinema chain are ticket revenue and revenue from the concession bar.
From the date when the quarantine was announced and cinemas were closed in March until the end of the year, there was practically no complete removal of restrictions. In total, cinemas worked for only 4.5 months with an authorized occupancy of up to 30%.
The impact of 2020 on the industry has a longer-term effect due to direct dependence, both on the availability of content and on a number of other aspects. The restrictions that continue in 2021 force us to take planning realistically, without focusing only on the project profitability.