Agility Public Warehousing Co. K.S.C. · KSE:MKHZN
Agility Public Warehousing Co. K.S.C — Agility Public Warehousing Company — Q2 2018 Earnings Presentation
25 slides from Agility Public Warehousing Co. K.S.C's earnings presentation, Aug 9, 2018
Slide 1: Letter to Boursa Kuwait on Q2 2018 analyst conference
12 August, 2018 M/s Boursa Kuwait Agility Subject: Analyst/ Investor Conference for the second quarter 2018 Reference to the above mentioned subject and pursuant to the requirements of Boursa Kuwait Rule Book issued as per Resolution No. (1) of 2018, we wish to inform you that the quarterly Analyst/
Slide 2: Q2 2018 Analyst Webcast attendees and participants
Agility Public Warehousing Company Q2 2018 Analyst Webcast Sunday, August 12th 2018 Kindly find enclosed minutes of Agility’s analysts’ webcast, which was held on Thursday August 9th at 2.00 PM Kuwait time, to discuss second quarter’s earnings. Attendees from Agility: Ehab Aziz – Group CFO Soriana B
Slide 3: Webcast transcript: introduction and highlights
Operator: Ladies and gentlemen, welcome to Agility's 2018 second quarter earnings webcast. I will now hand it over to your host, Rita Guindy from Arqaam Capital. Madame, please go ahead. Rita: Good morning and good afternoon ladies and gentlemen, and thank you for joining us today. This is Rita Guin
Slide 4: Transcript: business groups and technology focus
We remain focused on investing in technology, and heavily focused on technology that is shaping the world around us and the sphere we operate in. Many of our initiatives are tech related and I think we'll get the benefit of that in the near future, especially in our logistics business. One of those
Slide 5: Transcript: quarter and half-year results
Net profit witnessed a similar growth pattern with double digit growth of 19% in this quarter from KD 17 million to KD 20 million, translated into an EPS of 13.8 fils per share for this quarter. We are seeing positive momentum and consistency quarter over quarter adjusting for the cyclicality of GIL
Slide 6: Transcript: leverage and cash flow
ND/EBITDA stood at 0.9X which is relatively low, but we expect that to increase towards 2020 after which we expect that ratio to start going down. If you turn to Slide #10, you can see that we have been generating a healthy cash flow from operations. For this period, Agility generated a total of KD
Slide 7: Transcript: segment performance
growth, primarily in the Middle East, but this was offset by the project logistics and road freight. The next slide, number 13, we have the performance of the infra group. The Infra group as a whole delivered remarkable results for the second half of 2018 and are on the right track and pace to attai
Slide 8: Transcript: question and answer session
Operator: Thank you. We will now start our question and answer session, ladies and gentlemen. To participate in our Q&A, just type your question into the Ask Questions text area, then click the Submit button. Our speakers will take some time to gather all your questions. Thank you for holding. Soria
Slide 9: Transcript: project ownership and funding Q&A
In terms of ownership. Our ownership will depend on the amount of funding we put, but it will not be less than 51% as this is stipulated in the agreement. So we retain that right to control the project, as Agility, and we also retain the right to convert the debt that we have into equity. At the ver
Slide 10: Transcript: balance sheet and defense logistics Q&A
which I believe will be by 2020, this ratio will start going down back to below one. Again, that's unless we do a transformation acquisition. As I mentioned, if you look at our balance sheet throughout the years, since the privatization of the company in 1997, one of our main focus has been balance
Slide 11: Transcript: dividend payout Q&A
business, because it has two components. One is the storage where we are providing fuel storage capacity and then service side of it as well. Soriana: Also given the increase in leverage, could we expect some sort of cut in actual dividend payout? Ehab: I don’t foresee a major cut in the level of th
Slide 12: Analyst Call – Second Quarter 2018
Analyst Call – Second Quarter 2018 9th of August 2018
Slide 13: Disclaimer
Disclaimer This presentation is strictly confidential and is being shown to you solely for your information and may not be reproduced, retransmitted, further distributed to any other person or published, in whole or in part, for any purpose. This presentation has been prepared by Agility Public Ware
Slide 14: Agenda: Q2 2018
Agenda : Q2 2018 1 Financial Highlights 2 Business Segments 3 Q&A 3
Slide 15: Q2 2018 Results
Q2 2018 Results
Slide 16: Q2 2018 highlights
Q2 2018 highlights Agility sustained the positive momentum trend that started in 2018 Agility • Second quarter results came in line with our expectations and consistent with previous growth trend • Double digit EBITDA growth which is expected to continue to reach our 2020 target • Accelerating trans
Slide 17: Q2 Group financial performance
Q2 Group financial performance KD Mn Agility progressively improves its financial performance consistent with its 2018 targets Revenue Net Revenue +42 (+12%) +6 384 (+6%) 342 118 124 Margin Margin 34.4% 32.3% Q2 2017 Q2 2018 Q2 2017 Q2 2018 EBITDA Net Profit +4 +3 (+14%) (+19%) 37 20 33 17 Margin Ma
Slide 18: 1H 2018 Group financial performance
1H 2018 Group financial performance KD Mn Growth was contributed across all business units Revenue Net Revenue +93 (+14%) +20 756 (+9%) 663 229 249 Margin Margin 34.5% 32.9% 1H 2017 1H 2018 1H 2017 1H 2018 EBITDA Net Profit +11 +7 (+18%) (+24%) 75 39 63 31 Margin Margin Margin Margin 9.6% 9.9% 4.7%
Slide 19: 1H 2018 Group financial performance by business group
1H 2018 Group financial performance KD Mn Revenue contribution by Business Group EBITDA contribution by Business Group Y-o-Y +13% +21% +18% +14% +15% +14% Growth 756 22 75 663 72 9 17 63 2 (22%) 15 GIL 567 (23%) 496 (75%) GIL (75%) 58 49 (78%) Infra (77%) 167 189 Infra (25%) (25%) 1H 2017 GIL Infras
Slide 20: Balance Sheet
Balance Sheet KD Mn Maintaining a strong balance sheet Balance sheet 1H 2018 1H 2017 Variance % Current assets 546 472 74 16% Agility maintains a healthy balance sheet with Non-Current assets strong asset base of KD 1.8 Bln and relatively 1,204 1,131 73 6% low leverage. Total assets 1,750 1,603 147
Slide 21: Statement of cash flows
Statement of cash flows KD Mn Investing in the business to capture profitable growth opportunities CAPEX 2018 Cash Flow Statement 1H 2018 1H 2017 Variance % 26 100% Cash from Operating activities before 77 65 12 18% changes in working capital Changes in working capital (35) (32) (4) 12% Other Items
Slide 22: Business Segments
Business Segments
Slide 23: GIL financial performance – YTD 2018
GIL financial performance – YTD 2018 KD Mn Financial Highlights Regional Revenue Contribution +72 (+15%) 21% 19% (119) Growth 567 24% Revenues +34 496 (96) AME 32% (+13%) 32% ASP 17% (184) 289 (157) EUR 255 MEA 32% 32% (160) 14% (182) 17% 14% Q2 2017 Q2 2018 1H 2017 1H 2018 (83) -1% (82) 1H 2017 1H
Slide 24: 1H 2018 Infrastructure group
1H 2018Infrastructure group KD Mn Strong performance across all key entities +25 (+15%) 196 1H2017 1H 2018 171 +21 +11 (+46%) (+21%) 65 65 54 45 Revenue EBITDA EBITDA adjusted 1 1 Adjusted for US Government settlement 13
Slide 25: Q&A
Q&A Agility 14
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