Mezzan Holding Company Kscc · KSE:MEZZAN
Mezzan Holding Company Kscc — Mezzan Holding Company — Q2 2024 Earnings Presentation
15 slides from Mezzan Holding Company Kscc's earnings presentation, Aug 8, 2024
Slide 1: Q2 2024 Earnings Presentation
Q2 2024 Earnings Presentation August 8, 2024 1
Slide 2: Disclaimer
Disclaimer This conÞdential document is provided for informational purposes only. THE INFORMATION SET OUT IN THIS PRESENTATION AND PROVIDED IN THE DISCUSSION SUBSEQUENT THERETO DOES NOT CONSTITUTE AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL SECURITIES IN ANY JURISDICTION. IT IS SOLELY FOR US
Slide 3: Agenda
Agenda Q2 2024 Highlights Results Financial Review Q&A 3
Slide 4: Mezzan Today: Earnings Highlights
Mezzan Today: Earnings Highlights KD Millions Ò Achieved robust single-digit revenue growth, coupled with accelerated double-digit bottom-line expansion, highlighting our commitment to enhancing the quality of earnings. Q2 EBITDA (2021-2024) Q2Õ24 Q2Õ23 % Diff H1Õ24 Ó H1Õ23 % Diff KD Millions 17.0 R
Slide 5: Mezzan Today: H1 Comparative Performance
Mezzan Today: H1 Comparative Performance KD Millions H1 Revenue H1 Gross Profit H1 Net Profit Attributable to equity holders of Parent Company 152.2 8.5 140.4 34.9 134.0 134.0 7.2 29.5 29.6 25.6 5.9 3.2% 4.3% 4.2% CAGR CAGR CAGR 1.9 2021 2022 2023 2024 2021 2022 2023 2024 2021 2022 2023 2024 Revenue
Slide 6: Financial Review
Financial Review 6
Slide 7: H1'24 Revenue: Contribution by Business Line
H1Õ24 Revenue: Contribution by Business Line FOOD REVENUE +7.8% NON-FOOD REVENUE +9.5% Vs.H1Õ23 Vs.H1Õ23 64.1% Share of of total Group 35.9% Share of of total Group Revenue Revenue 7
Slide 8: H1'24 Revenue: Growth by Business Division
H1Õ24 Revenue: Growth by Business Division Vs.H1Õ23 Manufacturing FOOD &Distribution 52.8% of Group revenue +8.8% +7.8% Catering 5.8% of Group revenue -12.0% +8.4% Services 5.5% of Group revenue +25.8% NON-FOOD FMCG & +9.5% Healthcare 33.9% of Group revenue +10.6% Industrials 2.0% of Group revenue -
Slide 9: H1'24 Revenue: Contribution and Growth by Country
H1Õ24 Revenue: Contribution and Growth by Country Top-line Contribution Vs.H1Õ23 Kuwait UAE Qatar Jordan* KSA 74.3% 12.1% 5.4% 5.7% 2.5% +9.4% +8.4% -18.3% +39.7% +1.6% Solid performance in UAE operations Qatar revenue decline Revenue increase Positive momentum Food M&D, and FMCG steadily grow with
Slide 10: H1'24: P&L
H1Õ24: P&L KD Millions Q2Õ24 Q2Õ23 % Diff H1Õ24 H1Õ23 % Diff Revenue 66.7 61.4 8.6% 152.2 140.0 8.4% Gross Margin 15.7 13.1 19.5% 34.9 29.6 18.2% GM % 23.5% 21.3% 23.0% 21.1% SG&A / Other -11.0 -9.7 12.9% -22.3 -20.0 -11.5% Operating ProÞt 4.7 3.4 38.3% 12.6 9.5 32.1% Other -1.6 -1.3 23.5% -3.1 -2.7 1
Slide 11: H1'24: Cashflow
H1Õ24: Cashflow KD Millions Q2Õ24 Q2Õ23 Diff H1Õ24 H1Õ23 Diff Operating cashßow before WC changes 6.8 5.8 1.0 17.2 14.4 2.7 Working capital / Other -4.3 -9.7 5.3 -9.7 -7.2 -2.5 Operating cashßow 2.5 -3.9 6.4 7.5 7.3 0.2 CAPEX / Other Investing Activities -3.4 -2.2 -1.2 -5.1 -3.0 -2.1 Cash ßow before F
Slide 12: Balance Sheet as of June 30, 2024
Balance Sheet as of June 30, 2024 KD Millions Total Assets Equity Net Debt Net Debt to Total Equity KD Millions KD Millions KD Millions % 59.0% 59.5% 285.1 122.9 67.7 67.6 66.5 54.0% 271.5 120.3 268.5 256.7 114.9 51.0 113.8 42.0% 2021 2022 2023 2024 2021 2022 2023 2024 2021 2022 2023 2024 2021 2022
Slide 13: A note on debt levels
A note on debt levels KD Millions As of 30 June 2024: Net Debt stood at KWD 66.5mn, down by KWD 1.1mn from June 2023 levels. - LTM Net Debt / EBITDA of 2.1x down by 1.8x vs H1 2023 12.2 5.5 4.3 4.1 3.9 3.0 2.7 3.0 2.4 2.4 2.2 2.1 2.1 1.9 49.5 51.0 53.4 53.0 58.2 67.7 65.1 64.2 56.0 67.6 63.6 59.1 57
Slide 14: Q&A
Q&A 14
Slide 15: Investor Relations Contact
Investor Relations Contact Omar Fouda Investor Relations Manager omar.fouda@mezzan.com 15
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