Miahona Co. · TADAWUL:2084
Miahona — FY2024 Earnings Presentation
16 slides from Miahona's earnings presentation, Mar 26, 2025
Slide 1: Miahona's Earnings Call 2024
Miahona’s Earnings Call 2024 March 26, 2025
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by representatives of Miahona Company (the “Company” and, together with its subsidiaries, the “Group”). No reliance may be placed for any purpose whatsoever on the information or opinions contained in this document or any other document or oral statement or
Slide 3: Today's Speakers and Agenda
Today’s Speakers and Agenda 01 | Business Review 02 | Financial Review 03 | Q&A AWAADH AL OTAIBI REHAN MASOOD Chief Executive Officer Chief Financial Officer 3
Slide 4: Business Review
BUSINESS REVIEW AWAADH AL OTAIBI Chief Executive Officer
Slide 5: Building Success Through Operational Excellence
Miahona | Building Success Through Operational Excellence PROVEN DEVELOPMENT AND OPERATIONAL TRACK RECORD STRONG NATIONWIDE PRESENCE m3/day 8 c. 8 mn 11 Projects +1 mn | +100 k Cities Population served Concession (6) | O&M (5) Wastewater | Water Daily Capacity INDUSTRIAL CLIENTS 06 Concessions < 10%
Slide 6: Key Pillars Underpinning Miahona's Operational Excellence
Key Pillars Underpinning Miahona’s Operational Excellence ESTABLISHED INNOVATIVE RELIABLE EFFICIENT INTERNATIONAL EXPERTISE SOLUTIONS SYSTEMS PROCESSES BEST PRACTICES ✓ Dedicated in-house experts ✓ Optimal tailored and ✓ Superior control and ✓ Integrated model that ✓ Top-tier, internationally includ
Slide 7: Concessions | Driving Sustainable Growth
Concessions | Driving Sustainable Growth UNDER REHABILITATION UNDER CONSTRUCTION UNDER FINANCIAL CLOSE NEW AWARD Project Milestones LTOM Makkah (ROT) –– Hada & Arana HADDA & ARANA RAS TANURA AL HAER JEDDAH • Under operations, bringing revenue. (Western Region) (Eastern Region) (Central Region) (West
Slide 8: Financial Review
FINANCIAL REVIEW REHAN MASOOD Chief Financial Officer
Slide 9: Key financial highlights 2024 vs 2023
Key Pillars Underpinning Miahona’s Operational Excellence mn 2024 2023 % YoY Net Equity ROE 445.9 10% REVENUE 385.1 324.5 +18.7% EBITDA (Adjusted) 146.2 130.5 +12.0% Capex D/E Commitment Margin 38.0% 40.2% - 2.2 pp. 1.12x 434.8 NET INCOME 48.7 45.9 +6.1% (Adjusted) Margin 12.6% 14.1% - 1.5 pp. FCF1
Slide 10: Sustained Success, Strong Growth
Sustained Success, Strong Growth Total Group Revenue ( 385.1 mn) mn, % +18.7% Strong Revenue Growth 385.1 | Increase in construction revenue is due to - 324.5 11.8 the development activities in one new 2.0 120.3 project. 23.9 60.2 | Increase in Water and Wastewater revenue due to organic growth and
Slide 11: Resilient EBITDA, One-Time Costs Effect
Resilient EBITDA, One-Time Costs Effect EBITDA Evolution and Margin EBITDA Stability Despite One- Off mn, % Extraordinary Costs -2.1% | One-time listing expenses, including 141.5 138.5 strategic employee incentives and consultant fees. | Additional revenue from the new projects | Organic growth in t
Slide 12: Sustained Growth, One-Time Costs Effect
Sustained Growth, One-Time Costs Effect Net Income Bridge Lower Net Income due to one-off mn, % costs -27.9% | Increase in revenue resulted from development activities in one project bringing in additional construction revenue 60.6 and organic growth in existing projects. | The increase in the cost
Slide 13: EBITDA Adjusted, Net Income Adjusted
EBITDA Adjusted Net Income Adjusted EBITDA Reconciliation Net Income Reconciliation mn, % mn, % 12.0% 6.1% 146.2 48.7 130.5 45.9 2023 2024 2023 2024 mn 2024 2023 mn 2024 2023 Reported EBITDA 138.5 141.5 Reported Net Income 41.0 56.9 Exceptional upsides amid synergies and one-off items (6.0) (11.0) E
Slide 14: Fueling Future Growth
Fueling Future Growth Cash Flow Generation – Strong EBITDA/FCF conversion Building on Strong Cash Flow EBITDA/FCF Conversion 115% 80% | Increase in cash flow from operations is 2024 2023 primarily due management succeed to mn improve collection efficiency. Cash flow from Operations 138.2 113.2 | Pro
Slide 15: Parent Level Debt and Parent Operating Cash Flow
Parent Level Debt and Parent Operating Cash Flow Long –term financing and funding facilities mn, % 134.3 275.9 171.4 141.6 25.6 275.9 - - Recourse debt Cash Parent level net 78.9 debt - Parent Operating Cash Flow1 400.3 400.3 mn 2024 Distribution from Subsidiaries 95.0 (19.7) Net operating cashflows
Slide 16: Questions & Answers
Questions & Answers