Almunajem Foods Company · TADAWUL:4162
Almunajem Foods — H1 2024 Earnings Presentation
23 slides from Almunajem Foods's earnings presentation, Aug 21, 2024
Slide 1: H1 / Q2 2024 Earnings Presentation
H1 / Q2 2024 Earnings Presentation 21 August 2024
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by Almunajem Foods Company (the "Company") and the content therein has not been reviewed or approved by any regulatory or supervisory authority. This presentation contains financial information regarding the businesses and assets of the Company. Certain
Slide 3: Today's Agenda
Today’s Agenda : 1 About AMF 2 Financial Highlights 3 Financial Performance 4 Market Outlook 5 Growth Factors 6 Question and Answer
Slide 4: Almunajem Foods at a Glance
ALMUNAJEM FOODS AT A GLANCE: Almunajem Foods is among the largest Saudi food companies involved in manufacturing, importing, marketing and distribution of a wide range of frozen, chilled and dry food items through its top-notch logistics network all over the Kingdom. Distributor of Key Brands: Key I
Slide 5: Financial Highlights H1' 2024
Financial Highlights H1’ 2024 SOLID FINANCIAL STRONG CASH FLOW SHAREHOLDER VALUE RESULTS GENERATION CREATION Revenue Operating Cash Flow ROA 1,729 M 56 M 21.3% Gross Profit 329 M WC to Sales ROE Margin 19.0% 17.1% 34.5% Net Profit 178 M EPS ZERO DEBT Margin 10.2% 2.96 5
Slide 6: Recent Developments
Recent Developments New products Our latest products lineup has officially hit supermarkets shelves, bringing innovative choices to meet the evolving needs of our customer!
Slide 7: Our Rankings in Terms of Market Share (Retail)
OUR RANKINGS IN TERMS OF MARKET SHARE (RETAIL) Market Main Categories Sub-Categories Brands Ranking Share* ▪ Frozen Whole Chicken Doux 2 29.2% ▪ Chicken Franks 2 22.7% Red Al Anam 1 20.9% ▪ Frozen Minced & Dari 2 15.5% White Meat ▪ Frozen Breasts Doux 3 9.3% ▪ Chicken Strips Doux 2 14.8% Dari 1 46.6
Slide 8: Financial Performance H1 / Q2' 24
Financial Performance H1 / Q2’ 24
Slide 9: Financial Performance H1' 2024 – Key Highlights
Financial Performance H1' 2024 – Key Highlights Revenue (SAR’ M) Gross Profit (SAR’ M) Net Profit (SAR’ M) 350 19.5% 10.3% 1,740 3.3% 0.035 200 11.0% 19.0% 19.0% 8.3% 8.7% 1,720 1,729 330 0.03 180 329 160 178 9.0% 1,700 18.5% 0.025 310 140 1,680 17.8% 143 7.0% 17.4% 18.0% 120 139 0.02 1,660 1,674 29
Slide 10: Revenue (H1' 2024) – Analysis
Revenue (H1' 2024) – Analysis Figures are compared to H1’ 23 Sales Volume - Growth Sales’ Value – Growth by Major Categories Sales’ Value – Growth by Channels 12.5% 152,000 15.0% Red & White Meets Wholesale 150,000 10.0% 5.0%Fruits & Vegetables 148,000 Retail -3.3% 0.0% 146,000 Dairy -5.0% Food Serv
Slide 11: Net Income Bridge – H1' 2024
Net Income Bridge – H1' 2024 Figu es in SR’ 1 1 1 T 202 Volu e i the s et icing e a anal ost the s T 2024 ❖H1’ 2024 net income higher by almost SR 39M Vs. same period last year due to better prices compared to LY, despite of dip in sales volumes caused by red sea crisis. 11
Slide 12: Financial Performance Q2' 2024 – Key Highlights
Financial Performance Q2' 2024 – Key Highlights Revenue (SAR’ M) Gross Profit (SAR’ M) Net Profit (SAR’ M) 840 8.0% 136 17.5% 18.0% 7.7% 7.0% 65 7.8% 830 7.0% 135 6417.5% 7.7% 820 826 135 64 6.0% 63 7.7% 810 135 5.0% 6217.0% 7.6% 800 134 61 790 3.0% 4.0% 7.6% 16.1% 6016.5% 7.5% 780 134 3.0% 7.5% 59
Slide 13: Net Income Bridge – Q2' 2024
Net Income Bridge – Q2' 2024 Figu es in SR’ 0 04 Q2 202 Volu e i the s et icing e a anal ost the s Q2 2024 ❖ Q2’ 2024 net income higher Vs. same period last year supported by improved prices in certain categories, lower expenses and income from associate. 13
Slide 14: Prudent Financial Management
Prudent Financial Management Ratio June 2024 June 2023 NON-CURRENT ASSETS CURRENT ASSETS Equity Non-current Liabilities Current Liabilities Return on Equity % 34.5% 28.5% 87 93 Profitability Return on Assets % 21.3% 17.8% 498 545 Trade receivables Days of Sales 36.7 33.8 1,208 1,253 Activity Invento
Slide 15: Net Working Capital (2019 –H1' 2024)
Net Working Capital (2019 –H1' 2024) 700 19.6% 18.7% Figu es SAR’ 19.0% 18.0% 18.2% 600 593 558 17.0% 500 17.1% 498 469 460 400 436 15.0% 13.9% 300 13.0% 200 11.0% 100 0 9.0% 2019 2020 2021 2022 2023 H1' 2024 Working Capital Working Capital To Revenues ❖ Efficiently managed Working Capital. The work
Slide 16: CAPEX (2019 – H1' 2024)
CAPEX (2019 – H1' 2023) 35.0 2.0% 1.3% 1.4% 32.5 1.5% 30.0 1.1% 0.7% 0.5% 0.7% 1.0% 25.0 27.0 0.5% 24.0 24 20.0 0.0% 18.9 15.0 -0.5% 14.3 -1.0% 10.0 -1.5% 5.0 -2.0% 0.0 -2.5% 2019 2020 2021 2022 2023 H1' 2024 CAPEX % Revenues ❖ 5Y average CAPEX – SAR 23M and ranges between 0.5% to 1.4% of revenue 16
Slide 17: Cash Flow H1' 2024
CASH FLOW H1' 2024 Cash Flow Bridge - Jun’ 24 Free Cash Flow SR’ SR’ crease ecrease ota 180 160 24 140 153 120 100 1 80 0 60 2 40 20 37 ash o t ash in Fin Act 0 ening ash ash in n Act losing ash Jun' 23 Jun' 24 Note: FCF calculation excludes investment in associate. 17
Slide 18: Market Outlook
@ poo)! ALMUNAJEM Foods asciU MARKET OUTLOOK
Slide 19: 2024 Global Market Environment - Expectation
2024 GLOBAL MARKET ENVIRONMENT - EXPECTATION Economic Outlook • Q2 2024 KSA real GDP dropped by 0.4% as per estimates by GASTAT. • This was attributed to decline in Oil related activities by 8.5%. In contrast, non-oil activities increased by 4.4%, and government activities increased by 3.6% on an an
Slide 20: Update on: Operations, Growth Drivers
UPDATE ON: • OPERATIONS • GROWTH DRIVERS
Slide 21: Operations & Growth Drivers
OPERATIONS & GROWTH DRIVERS Portfolio Channel Meat Factory Third Party Logistics Diversification Enhancement & Local Content (3PL) • Launched the fresh poultry • Food Service: focusing on • Expansion work of Meat • BOD approved in June to category in May 2024, with a both ends. Upper end; with Facto
Slide 22: Question & Answers
QUESTION & ANSWERS
Slide 23: Thank You
THANK YOU CONTACT : EMAIL : IR@almunajemfoods.com WEBSITE : Investor Relations - Almunajem Foods
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