Ferreycorp Saa · BVL:FERREYC1
Ferreycorp Saa — Ferreycorp — Q2 2023 Earnings Presentation
14 slides from Ferreycorp Saa's earnings presentation, July 2023
Slide 1: Earnings Presentation Second Quarter 2023
Earnings Presentation Second Quarter 2023 July 2023
Slide 2: Highlights
HIGHLIGHTS Dividends´ payment • In March 2023, the Shareholders´ Meeting approved a cash dividend of S/251.3 million. • This amount was defined by the upper limit of the dividend policy (60% of free disposal profits) • In September 2022, the company paid an advance cash dividend of S/120 million. •
Slide 3: Ferreycorp Profit Ratios
INTRODUCTION Ferreycorp Profit Ratios 20.3% 18.6% 18.8% 18.5% 16.7% 17.3% 17.2% 15.9% 14.2% 14.0% 14.4% 14.1% 12.2% 12.8% 12.0% 11.2% 11.3% 10.9% 9.9% 9.4% 9.1% 8.7% 8.3% 8.6% 8.4% 9.4% 7.3% 7.7% 7.6% 5.4% Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 ROE ROA ROIC
Slide 4: Introduction: GDP and Investment
INTRODUCTION GDP (Var %) Public & Private Investment 13.6% (Var %) 37.6% 2.8% 1.1% 23.7% -0.1% 2021 2022 2Q23 2023(E) 5.1% 0.5% Mining and Construction GDP evolution -0.5% -2.0% (Var %) -5.8% 34.5% -9.6% 2021 2022 2Q23 2023(E) 15.3% 10.5% 7.8% Private Invest. Public Invest. 3.4% -2.4% Private invest
Slide 5: Financial Highlights
FINANCIAL HIGHLIGHTS Million Soles (S/ mm) SALES +8% 6,593 MARGINS 6,112 +6% 26.9% 25.9% 25.7% 3,016 3,206 24.2% 16.5% 13.5% 12.5% 13.5% 2021 2022 1S'22 1S'23 12.7% 10.0% 8.7% 9.6% OPERATING PROFIT 2021 2022 1S'22 1S'23 -10% Gross margin Operating Margin Ebitda Margin 733 659 Gross Margin Adj. 1S 20
Slide 6: Evolution on Exchange Rates
3.376 Ene-20 3.451 Feb-20 Mar-20 3.383 Abr-20 3.434 May-20 3.541 Jun-20 Jul-20 3.547 Ago-20 Set-20 3.615 Oct-20 Nov-20 Dic-20 3.624 Ene-21 3.651 Feb-21 3.758 Mar-21 3.78 Abr-21 May-21 3.827 3.866 Jun-21 Jul-21 4.086 Ago-21 Set-21 4.136 3.992 Oct-21 4.066 Nov-21 3.846 Dic-21 3.998 Ene-22 Exchange Rat
Slide 7: Financial Highlights - EBITDA
FINANCIAL HIGHLIGHTS - EBITDA Million Soles (S/ mm) EBITDA -17% 1008 888 +15% 377 434 2021 2022 1S'22 1S'23 7
Slide 8: Sales by Business Lines
SALES BY BUSINESS LINES Million Soles (S/ mm) CAT MINING EQUIPMENT CAT MACHINES AND ENGINES -39% -67% -47% -7% +17% -78% 175 400 334 107 262 285 91 243 57 20 Q3'22 Q4'22 Q1'23 Q2'22 Q2'23 Q3'22 Q4'22 Q1'23 Q2'22 Q2'23 SPARE PARTS AND SERVICES RENTAL AND USED -0.8% -4% -4% +13% -15% -19% 938 913 905
Slide 9: Financial Highlights
FINANCIAL HIGHLIGHTS Gross Margin Adj. 2Q 2022 = 26.1%, 2Q 2023 = 26.4% Operating Margin Adj. 2Q 2022 = 11.4% ; 2Q 2023 = 10.5% Million Soles (S/ mm) Ebitda Margin Adj 2Q 20222 = 15.1% ; 2Q 2023 = 14.4% SALES MARGINS -17% 28.8% 27.3% -8% +4% 25.1% 24.9% 24.5% 1,885 1,691 1,646 1,560 1,582 16.3% 14.7
Slide 10: Net Income
NET INCOME Million Soles (S/ mm) NET INCOME 2Q2023 6 22 15 92 1 5 106 61 2Q'22 Δ Share of profit Δ D&A Δ Gain(loss) to Δ Financial exp Δ Income tax Δ EBITDA 2Q'23 of associated FX Positive variations Negative variations
Slide 11: Cash Generation and Liability Management
CASH GENERATION AND LIABILITY MANAGEMENT In Millions Dollars (US$ mm) 258 Cash Balance Debt Maturity and Profile (In Millions US$) (In Millions US$) 203 Current Non- 187 Current 49% 51% 130 104 100 103 106 74 80 84 59 54 55 53 63 53 70 42 50 30 4 2023 2024 2025 2026 2027 2028 Debt Evolution 896 899
Slide 12: Total Assets and Cash Cycle
TOTAL ASSETS AND CASH CYCLE Million Soles (S/ mm) STATE OF FINANCIAL POSITION CASH CYCLE -3% 210 198 203 198 193 7,000 3 6,046 5,892 200 176 17 65 170 101 173 163 163 161 165 169 187 193 189 158 154 6,000 2.5 180 153 155 157 151 173 159 165 5,000 2 149 155 149 150 152 150 156 156 149 145 4,000 1.5 1
Slide 13: Capex
CAPEX In millions US$ 32 39 1 43 2 50 0 Investment 49 34 12 13* 7 36 1 8 7 15 53 20 4 15 11 10 8 -14 -14 -15 -38 -65 Disinvestment 2019 2020 2021 2022 2Q2023 • Investment in intangible assets reached US$ 1.1 million dollars as of June 2023 * Disclaimer: Capital Expenditures on Infrastructure include
Slide 14: Ferreycorp
Ferreycorp CAT UNIMAQ Cat Cat car car) SOLTRAK ¥ TREX ¥ MOTORED ¥ roams #| FARGO