Slide 1: Earnings Call Fourth Quarter 2023
EARNINGS CALL FOURTH QUARTER 2023 February 16th, 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 TOP MANAGEMENT INCORPORATIONS 1 Q4 ‘23 CONSOLIDATED OPERATING RESULTS 2 Q4 ‘23 OPERATING RESULTS BY BUSINESS 3 LIQUIDITY AND BALANCE SHEET 4 OUR VIEW FOR 2024 5 APPENDIX 6
Slide 4: Top Management Incorporations
TOP MANAGEMENT INCORPORATIONS
Slide 5: Top Management Incorporations
TOP MANAGEMENT INCORPORATIONS CEO, VP Supply & General Manager Vitapro ÁLVARO CORREA VINICIUS BARBOSA FABRICIO VARGAS CHIEF EXECUTIVE OFFICER VP OF SUPPLY CHAIN GENERAL MANAGER, VITAPRO ▪ +30 years of professional experience: ▪ +30 years of experience: AB InBev leading ▪ Current head of our shrimp b
Slide 6: Q4 '23 Consolidated Operating Results
Q4 ’23 CONSOLIDATED OPERATING RESULTS
Slide 7: Consolidated Adjusted Gross Profit Increased
Q4 ‘23 CONSOLIDATED OPERATING RESULTS Consolidated Adjusted GROSS PROFIT – Q4 '23 vs. Q4 '22 Q4 PERFORMANCE SUMMARY – ADJUSTED GROSS PROFIT1 PEN million CONSOLIDATED 908 582 508 892 3,435 3,185 ADJUSTMENTS TO GROSS PROFIT ADJUSTED GROSS -8% PROFIT INCREASED +7% 2,752 FY ’23: DESPITE LOWER VOLUME +11
Slide 8: Consolidated Adjusted EBITDA Slightly Increased
Q4 ‘23 CONSOLIDATED OPERATING RESULTS Consolidated Adjusted EBITDA – Q4 '23 vs. Q4 '22 Q4 PERFORMANCE SUMMARY – ADJUSTED EBITDA1 PEN million ADJUSTMENTS TO EBITDA CONSOLIDATED FY ’23: ADJUSTED EBITDA Crushing FX gain +80.9 SLIGHTLY INCREASED -20% Production sites optimization +41.0 YoY MAINLY EXPLAI
Slide 9: Q4 '23 Operating Results by Business
Q4 '23 OPERATING RESULTS BY BUSINESS
Slide 10: Consumer Goods Peru & B2B: Q4 Performance
Q4 ‘23 OPERATING RESULTS BY BUSINESS Consumer Goods Peru & B2B: Q4 Performance1 ADJ. GROSS PROFIT & GROSS MARGIN ADJ. EBITDA & EBITDA MARGIN +14% +19% Volume Sold (TMk) Q4: 149 (-10%) 1,219 652 FY: 594 (-12%) 1,069 549 CONSUMER +29% +78% GOODS PERU2 265 343 34.1% 24.7% 30.6% 106 189 12.7% 16.4% PEN
Slide 11: International Businesses & Crushing: Q4 Performance
Q4 ‘23 OPERATING RESULTS BY BUSINESS International Businesses & Crushing: Q4 Performance1 ADJ. GROSS PROFIT & GROSS MARGIN ADJ. EBITDA & EBITDA MARGIN +20% +34 Volume Sold (TMk) 252 24 Q4: 41 (-16%) FY: 172 (-4%) 209 +61% INTERNATIONAL +84% 7 11 BUSINESSES2 8.3% 82 22.0% 0.6% 1.0% 45 28.1% 17.5% PEN
Slide 12: Aquafeed: Q4 Performance
Q4 ‘23 OPERATING RESULTS BY BUSINESS Aquafeed: Q4 Performance1 ADJ. GROSS PROFIT & GROSS MARGIN ADJ. EBITDA & EBITDA MARGIN -19% -20% 150 104 Volume Sold (TMk) Q4: 161 (-24%) 121 83 FY: 708 (-9%) AQUAFEED2 42 -43% 31 -45% USD million 14.8% 24 13.0% 17 10.2% 8.8% 14.5% 11.7% 10.6% 7.6% Q4 ’22 Q4 ’23
Slide 13: Liquidity and Balance Sheet
LIQUIDITY AND BALANCE SHEET
Slide 14: Leverage and Indebtedness Evolution
LIQUIDITY AND BALANCE SHEET Leverage INDEBTEDNESS EVOLUTION1 4.2 3.9 3.8 3.1 2.8 3.6 2.5 TOTAL CASH3 2.8 AS EBITDA AND CASH 2.7 2.5 5,098 PEN 1,397 million 4,912 FLOW GENERATION OF 4,033 4,107 3,588 available OUR CORE BUSINESS UNITS IMPROVES, WE Q4 ’22 Q1 ’23 Q2 ’23 Q3 ’23 Q4 ’23 DEBT COVERAGE4,5 EX
Slide 15: Our View Going Forward
OUR VIEW GOING FORWARD
Slide 16: Our View for 2024: Guidance
OUR VIEW FOR 2024 Guidance REVENUE ADJ. EBITDA CAPEX LEVERAGE LOW SINGLE EX. CRUSHING EX. AQUAFEED 2.5x DIGIT GROWTH +13% - 18% USD ~62 MM NET DEBT / ADJ. EBITDA CONSOLIDATED CONSOLIDATED +17% - 22% USD ~76 MM 16
Slide 17: Earnings Call Fourth Quarter 2023
EARNINGS CALL FOURTH QUARTER 2023 February 16th, 2024
Slide 18: Reported and Adjusted Results Summary
APPENDIX Reported and Adjusted Results Summary Q4 '22 FY '22 Q4 '23 FY '23 Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted CGP 265 265 1,069 1,069 343 343 1,201 1,219 PEN CGI 45 45 209 209 81 82 249 252 GROSS PEN B2B 102 102 414 414 124 125 471 472 PEN PROFIT Aquafeed USD 44
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