Baladna Q.p.s.c · QSE:BLDN
Baladna Q.p.s.c — H1 2024 Earnings Presentation
34 slides from Baladna Q.p.s.c's earnings presentation, Jul 28, 2024
Slide 1: H1 2024 Financial Results Presentation
BALADNA Q.P.S.C. H1 2024 Financial Results Presentation 28 July 2024
Slide 2: Disclaimer
Disclaimer This presentation is made only to, and is directed only at, persons to whom such a presentation may lawfully be communicated (“relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or any of its contents Information contained in this prese
Slide 3: Table of contents
Table of contents Key messages 4-6 Operational and commercial update 7 - 12 Financial performance 13 - 21 Shareholder information 22 - 23 Management outlook 2023 24 - 25 Appendix 26 - 32 3
Slide 4: Key Messages
Key Messages
Slide 5: Key Messages
Key Messages ▪ During the six months period ending 30 June 2024, Baladna achieved a revenue of QAR 595 million compared to QAR 517 million for the same period last year, representing a significant revenue growth of 15%. This growth was primarily driven by increased sales volumes across all channels,
Slide 6: Key investment highlights
Key Messages Key investment highlights Market leader in the Dairy Excellent product Strong financial Strategic and dedicated Continuous identification of and Beverages sector in innovation track record and performance and Cash flow shareholder support growth enablers Qatar access to consumer insight
Slide 7: Operational and Commercial Update
Operational and Commercial Update
Slide 8: Key operational highlights
Operational and Commercial Update Key operational highlights June 2023 June 2024 YoY growth Overall market share ▪ Increase in market share driven by a growth 1 52.5% 54.1% 1.6% in sale volumes across the majority of product categories Source: AC Nielsen Market share reflects MAT 12 months Total no.
Slide 9: Market Segmentation (1/3)
Operational and Commercial Update Market Segmentation (1/3) Fresh milk 96.3% 94.3% ▪ YoY market share growth: +2.0% 96.3% ▪ Retained strong #1 position Market share June 23 June 24 UHT milk 91.5% 85.3% ▪ YoY market share growth: +6.2% 91.5% ▪ Retained strong #1 position Market share June 23 June 24
Slide 10: Market Segmentation (2/3)
Operational and Commercial Update Market Segmentation (2/3) Yoghurt ▪ YoY market share growth: +1.9% 48.6% 46.7% 48.6% ▪ Retained strong #1 position Market share June 23 June 24 Labneh 44.3% 40.1% ▪ YoY market share growth: -4.2% 40.1% ▪ Retained the market leadership Market share June 23 June 24 Ch
Slide 11: Market Segmentation (3/3)
Operational and Commercial Update Market Segmentation (3/3) Creams 62.0% 60.4% ▪ YoY market share growth: +1.6% 62.0% ▪ Retained strong #1 position Market share June 23 June 24 Juice 20.0% ▪ YoY market share growth: -1.7% 18.3% 18.3% ▪ Remains a significant growth opportunity Market share June 23 Ju
Slide 12: Introduction of new SKUs in H1 2024
Operational and Commercial Update Introduction of 25 new SKUs in H1 2024 Juice re-launch “Awafi” packaging revamp ▪ Baladna is constantly looking to enhance its product mix by introducing new products and augmenting its portfolio ▪ In H1 2024, Baladna has introduced 25 new products, relaunched the J
Slide 13: Financial Performance
Financial Performance
Slide 14: Financial Performance for H1 2024
Financial Performance for H1 2024 Key Financial Highlights H1 2023 H1 2024 YoY growth Increase in sales volumes across both HORECA Revenue and Retail channels due to capitalization of 1 QAR 517m QAR 595m 15% improved market conditions and gain in market share across key product categories resulted i
Slide 15: Financial Performance for Q2 2024
Financial Performance for Q2 2024 Key Financial Highlights Q2 2023 Q2 2024 YoY growth Increase in sales volumes across both HORECA Revenue and Retail channels due to capitalization of 1 QAR 262m QAR 282m 7% improved market conditions and gain in market share across key product categories resulted in
Slide 16: Financial performance development
Financial Performance Financial performance development Revenue (QAR m) Net profit (QAR m) -1% 15% +140% +16% 313 282 52 52 284 262 48 282 45 245 22 22 Q4 2023 Q1 2024 Q2 2024 Q2 2022 Q2 2023 Q2 2024 Q4 2023 Q1 2024 Q2 2024 Q2 2022 Q2 2023 Q2 2024 NP 16% 15% 19% 9% 8% 19% QoQ YoY margin QoQ YoY ▪ St
Slide 17: Margins positioning compared to regional peers
Increase in sales volumes, market share gains, operational efficiency across entire value chain and saving in finance cost resulted to increase the profitability margins Margins positioning compared to regional peers H1 2024 EBITDA margin Median: 19.3% 25.7% 21.1% 33.0% 19.3% 15.2% 16.2% 10.2% KSA P
Slide 18: Revenue by channel
Revenue by channel Growth recorded in all channels Contribution by Channel (H1 2024) Growth by Channel Channel wise revenue contribution (in percentage) H1 2024 channel wise growth (vs H1 2023) Growth (in percentage) Growth (QAR) 19% 6% HORECA 14.0% 23.3m Total revenue Retail-KA 12.0% 32% 27.2m QAR
Slide 19: Revenue composition – Year-on-year
Financial Performance Revenue composition– Year-on-year Revenue composition (QARm) +15% +15% 595 +10% 517 146 136 +7% 127 124 +20% 89 +10% 83 +12% +68% +16% 61 51 +14% 43 +6% 39 40 34 38 24 27 23 9 11 3 3 % of total 24% 25% 24% 23% 16% 15% 8% 7% 6% 6% 5% 5% 10% 10% 2% 2% 1% 1% 4% 6% 100% 100% revenu
Slide 20: Cashflow management for the H1 2024
Financial Performance Cashflow management for the H1 2024 Cashflow (QARm) 34.3 3.9 (0.1) 175 115 45 49 (85) (85) (85) Cumulative balance 141 ▪ Baladna continues to generate robust cash from operations as a result of the growth in revenues ▪ Efficient working capital management has contributed to the
Slide 21: Financial position as at June 30, 2024
Financial Performance Financial position as at June 30, 2024 Total assets (QAR million) Total shareholders’ equity and liabilities (QAR million) June-24 Dec-23 Growth June-24 Dec-23 Growth Fixed Assets 3,174 3,189 0% Islamic Financing 1,755 1,721 2% Biological Assets 176 196 -10% Other Non-Current L
Slide 22: Shareholder Information
Shareholder Information (7
Slide 23: Shareholder information (as at June 30 2024)
Shareholder Information Shareholder information (as at June 30 2024) General information Share price versus QE Index 1 January 2024 to 30 June 2024 (rebased to 100) 120 110 +6.5% ▪ Company name Baladna Q.P.S.C. 100 ▪ Ticker (QE) BLDN 90 (8.0%) 80 ▪ Market cap: QAR 2.5b 70 ▪ Common shares outstanding
Slide 24: Management Outlook H2 2024
Management Outlook H2 2024
Slide 25: Management outlook for H2 2024
Management Outlook Management outlook for H2 2024 Bringing new products to the market is at the heart of Baladna’s strategy as we aim to continue Product product innovation and introduce new products to capture greater market share. We are development committed to delivering unmatched excellence acr
Slide 26: Appendix
Appendix
Slide 27: Profit and loss statement – H1 2024
Appendix Profit and loss statement – H1 2024 QAR m H1 2024 H1 2023 Change Revenue 594.7 100% 516.7 100% 15% Cost of revenue (452.2) -76% (414.6) -80% 9% Gross profit 142.4 24% 102.0 20% 40% Other income 55.8 9% 58.9 11% -5% Gain from Investment Securities 9.8 2% 2.2 0% 350% Dividend income 2.2 0% 2.
Slide 28: Profit and loss statement – Q2 2024
Appendix Profit and loss statement – Q2 2024 QAR m Q2 2024 Q2 2023 Change Revenue 281.9 100% 262.2 100% 7% Cost of revenue (211.0) -75% (210.3) -80% 0% Gross profit 70.9 25% 52.0 20% 36% Other income 27.5 10% 28.9 11% -5% Gain from Investment Securities 4.3 2% 1.7 1% 152% Dividend income 2.2 1% 2.3
Slide 29: Company Profile
Appendix Company Profile Our purpose Product range To ensure healthy, natural food and beverages that delight our customers and contribute to the food security of Qatar. Who we are Established in 2014, Baladna is Qatar’s leading dairy and beverage company, with a diversified product offering, world-
Slide 30: BoD Members
Appendix BoD Members ` ` ` ` Moutaz Al-Khayyat Ali Hilal Al-Kuwari Ramez Al-Khayyat Abdulaziz Mahmoud Al-Zeyara Group Chairman Vice Chairman Board Member/ Board Member Managing Director Hamad Bin Abdullah Bin Mazen Alsbeti Aidan Tynan Khalid Al-Attiya Board Member Independent Board Member Board Memb
Slide 31: Senior Management Team
Appendix Senior Management Team Ramez Al-Khayyat Malcolm Jordan Saifullah Khan Board Member / Managing Director Chief Executive Officer Chief Financial Officer Paul Kenny Nasser Al Maslamani Julian Marcolini Chief Commercial Officer Chief Corporate Services Officer Chief Operations Officer 31
Slide 32: Glossary
Appendix Glossary EBITDA Earnings Before Interest, Tax, Depreciation and Amortization EPS Earnings Per Share HORECA Hotels, Restaurants and Catering TT Traditional Trade KA Key Accounts NP Net Profit NPD New Product Development SKU Stock Keeping Unit UHT Ultra-High Temperature 32
Slide 33: Q&A
Q&A
Slide 34: Thank you
THANK YOU “& BALADNA®