Alicorp Saa · BVL:ALICORC1
Alicorp Saa — Alicorp — Q2 2024 Earnings Presentation
18 slides from Alicorp Saa's earnings presentation, Jul 26, 2024
Slide 1: Earnings Call Second Quarter 2024
EARNINGS CALL SECOND QUARTER 2024 July 26th, 2024
Slide 2: Disclaimer
DISCLAIMER This presentation may contain financial or business projections regarding recent acquisitions, their financial or business impact, management expectations and objectives regarding such acquisitions and current management expectations on the operating and financial performance of The Compa
Slide 3: Topics
TOPICS HIGHLIGHTS 1 CONSOLIDATED OPERATING RESULTS 2 OPERATING RESULTS BY BUSINESS 3 LIQUIDITY AND BALANCE SHEET 4 OUR VIEW FOR 2024 5
Slide 4: Highlights
HIGHLIGHTS
Slide 5: Highlights: Sale agreement of Crushing business unit in Bolivia
HIGHLIGHTS Sale agreement of our Crushing business unit This transaction is aligned with our strategy IN 2018 WE ACQUIRED THE CRUSHING BOLIVIA of focusing on our core businesses. OPERATIONS OF BOTH Consumer Goods Crushing Lowering volatility in balance sheet and P&L ADM BOLIVIA AND INDUSTRIAS DE ACE
Slide 6: Consolidated Operating Results
CONSOLIDATED OPERATING RESULTS
Slide 7: Adjusted Gross Profit Continues to Deliver Solid Growth
CONSOLIDATED OPERATING RESULTS Consolidated Adjusted GROSS PROFIT – Q2 ‘24 vs. Q2 ‘23 PERFORMANCE SUMMARY – ADJUSTED GROSS PROFIT1 PEN million 767 539 505 731 1,480 1,413 ADJUSTED GROSS +21% PROFIT CONTINUES TO MAIN ADJUSTMENTS TO GROSS DELIVER SOLID GROWTH 1,437 PROFIT2 +20% MAINLY DRIVEN BY OUR 1,
Slide 8: Adjusted EBITDA Increased YoY Explained by Higher Gross Profit
CONSOLIDATED OPERATING RESULTS Consolidated Adjusted EBITDA – Q2 ‘24 vs. Q2 ‘23 PERFORMANCE SUMMARY – ADJUSTED EBITDA1 PEN million +34% ADJUSTED EBITDA 806 INCREASED YoY MAIN ADJUSTMENTS TO EBITDA2 EXPLAINED BY HIGHER +28% Q2 ’24: GROSS PROFIT IN OUR 602 CONSUMER BUSINESSES +19% 466 Crushing FX gain
Slide 9: Operating Results by Business
OPERATING RESULTS BY BUSINESS
Slide 10: CGP, B2B & CGI: Q2 Performance
OPERATING RESULTS BY BUSINESS CGP, B2B & CGI: Q2 Performance1 ADJ. GROSS PROFIT & MARGIN ADJ. EBITDA & MARGIN PEN million PEN million +37% +55% +36% 722 +37% 412 CONSUMER 278 377 41.0% 526 26.9% 39.7% 152 208 266 22.6% GOODS PERU2 29.2% 15.9% 22.6% 13.6% Q2 ’23 Q2 ’24 YTD ’23 YTD ’24 Q2 ’23 Q2 ’24 Y
Slide 11: Aquafeed & Crushing: Q2 Performance
OPERATING RESULTS BY BUSINESS Aquafeed & Crushing: Q2 Performance1 ADJ. GROSS PROFIT & MARGIN ADJ. EBITDA & MARGIN USD million USD million -41% -59% 69 47 -41% -53% 40 40 29 AQUAFEED 14.9% 23 13.6% 13 9.4% 20 11.7% 10.8% 10.6% 6.7% 5.2% Q2 ’23 Q2 ’24 YTD ’23 YTD ’24 Q2 ’23 Q2 ’24 YTD ’23 YTD ’24 +58
Slide 12: Liquidity and Balance Sheet
LIQUIDITY AND BALANCE SHEET
Slide 13: +1.0x YoY Reduction Despite the Peak of Working Capital
LIQUIDITY AND BALANCE SHEET Leverage INDEBTEDNESS EVOLUTION1 4.2 3.9 +1.0x YoY REDUCTION 3.8 3.1 2.7 3.0 DESPITE THE PEAK OF 3.6 WORKING CAPITAL 2.7 2.6 2.3 5,098 4,912 REQUIREMENTS IN OUR 3,588 3,304 3,914 CRUSHING BUSINESS AND THE SHARE Q2 ’23 Q3 ’23 Q4 ’23 Q1 ’24 Q2 ’24 BUYBACK PROGRAM Net Debt (
Slide 14: Our View Going Forward
OUR VIEW GOING FORWARD
Slide 15: Our View for 2024: Guidance
OUR VIEW FOR 2024 Guidance REVENUE ADJ. EBITDA CAPEX LEVERAGE LOW SINGLE EX. CRUSHING EX. AQUAFEED 1.9x-2.4x DIGIT DECREASE +18%-22% USD ~62 MM NET DEBT / ADJ. EBITDA CONSOLIDATED CONSOLIDATED +21%-26% USD ~76 MM 15
Slide 16: Earnings Call Second Quarter 2024
EARNINGS CALL SECOND QUARTER 2024 July 26th, 2024
Slide 17: Reported and Adjusted Results Summary
APPENDIX Reported and Adjusted Results Summary Q2 '23 YTD '23 Q2 '24 YTD '24 Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted CGP 277 278 525 526 377 377 721 722 PEN CGI 56 56 99 99 89 89 159 159 GROSS PEN B2B 121 121 212 212 139 139 253 253 PEN PROFIT Aquafeed USD 40 40 69 69
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