Savola Group · TADAWUL:2050
Savola — Q1 2024 Earnings Presentation
22 slides from Savola's earnings presentation, May 14, 2024
Slide 1: Savola Group Earnings Presentation Q1 2024
Savola Group www.savola.com Earnings Presentation | Q1 2024 Date: 14 May 2024
Slide 2: Disclaimer
DISCLAIMER This presentation might contain forward-looking statements which may be identified by the use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections
Slide 3: Savola Group – Q1 2024 Highlights
Savola Group – Q1 2024 Highlights Strong Group Performance Continues Strong Group Savola Group reported another set of strong financial results in Q1’24, driven by continuous Performance improvement in Panda’s results and strong operating performance of Savola Foods Panda’s positive momentum continu
Slide 4: Savola Group – Consolidated Financial Highlights
Savola Group – Consolidated Financial Highlights Margin SAR in millions Q1-23 Q1-24 Q1-23 Q1-24 -0.4% 7,814 7,782 +8% 1,502 1,619 Revenue Gross Profit 19.2% 20.8% +9% -11% 996 1,090 EBITDA Net Income 393 349 12.7% 14.0% 5.0% 4.5% *Excluding one-offs 352* 349 * Q1’23 adjusted net income excludes one-
Slide 5: Q1 2024 Revenue & Net Income Bridge By Business
Savola Group – Q1 2024 Revenue & Net Income Bridge By Business Revenue Bridge by Business Net Income Bridge by Business SAR in millions SAR in millions 0% -11% -1% 7,814 7,782 393 19 14 (18) (2) 13 (1) (147) 100 (41) 352 (48) 349 47 (12) Q1 2023 Others / Q1 2024 Q1 2023 Adjust.1 Q1 2023 SFC Others Q
Slide 6: Revenue Mix, Net Debt & Capex
Savola Group – Revenue Mix, Net Debt & Capex Revenue by Business1 Revenue by Geography Q1-23 Q1-24 Q1-23 Q1-24 3% 3% 8% 5% 8% 3% 4% 9% 17% 39% 14% 55% 40% 53% 68% 70% Savola Foods Panda Al Kabeer Herfy Arabia Egypt Central Asia Others3 YoY Growth -3.3% +3.2% +8.9% +5.1% +2.1% +17.8% -11.1% -40.9% Lo
Slide 7: Core Portfolio EBITDA Trend
Savola Group - Core Portfolio EBITDA Trend Savola Group’s core portfolio of Foods and Retail has demonstrated growth momentum despite various headwinds SAR in millions ▪ Strong EBITDA growth Foods1 over the years 1,615 1,290 ▪ Performance hinged 983 on strengthening its core businesses along + 539 6
Slide 8: Savola Foods Company
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Slide 9: Savola Foods – Financial Highlights
Savola Foods – Financial Highlights Margin SAR in millions Q1-23 Q1-24 Q1-23 Q1-24 ▪ Savola Foods demonstrated resilient performance in Q1’24 -3% despite difficult macroeconomic environment in most non-GCC markets and supply chain +7% challenges 4,398 4,251 ▪ Adjusting for Morocco exit and Revenue 7
Slide 10: Savola Foods – Oil Segment Analysis
Savola Foods – Oil Segment Analysis SAR in millions Volume (MT ‘000) Revenues Gross Profit EBITDA Net Income -3% 3,000 2,895 +12% 617 1,088 906 -17% 552 +2% 496 201 -18% 487 +14% 244 486 155 158 +2% 427 138 -26% 1,912 1,989 186 -30% +4% 416 +35% 338 308 235 333 +2% 348 +44% 164 -28% 242 147 106 -35%
Slide 11: Savola Foods – Sugar Segment Analysis
Savola Foods – Sugar Segment Analysis SAR in millions Volume (MT ‘000) Revenues Gross Profit EBITDA Net Income +29% 931 18 +53% 722 11 +13% 329 291 9 1 +749% 913 +29% 710 +20% 67 319 +10% 56 10 +24% 290 9 +10% 38 NM 30 8 47 57 +22% NM 35 53 +51% 28 -5 -15 -2 -14 -20 NM +226% -17 Q1-23 Q1-24 Q1-23 Q1
Slide 12: Savola Foods – Nuts, Spices And Pulses Segment Analysis
Savola Foods – Nuts, Spices And Pulses Segment Analysis SAR in millions Revenues Gross Profit EBITDA Net Income +6% 139 131 UAE +9% 44 48 +5% 23 24 -4% 18 18 -17% 35 29 KSA -15% (Relaunch 11 9 -3 -4 Segment) -8 NM -10 NM Q1-23 Q1-24 Q1-23 Q1-24 Q1-23 Q1-24 Q1-23 Q1-24 Bayara UAE continues to demonst
Slide 13: Panda Retail Company
Panda Retail Company JgOLA SAVOLA — 13
Slide 14: Panda – Financial Highlights
Panda – Financial Highlights Margin SAR in millions Q1-23 Q1-24 Q1-23 Q1-24 ▪ Growth in topline is driven by contribution from CXR completed +3% stores and new stores openings ▪ KSA LFL Revenue increased by 2.4% +7% in Q1’24, mainly driven by increase 3,118 3,218 in number of transactions Revenue Gr
Slide 15: Panda – Number Of Stores
Panda – Number Of Stores Super Hyper 131 1 0 132 62 0 0 62 Dec Additions Closures Mar Dec Additions Closures Mar 2023 2024 2023 2024 Total Dec-23 Mar-24 Net Selling Area Net Selling Area ▪ 1 new store in Egypt 538K m2 541K m2 during Q1’24 193 1 0 194 ▪ Total store count: 188 stores in KSA and 6 in E
Slide 16: Panda CXR and Clix Update
Panda CXR and Clix Update CXR Update Clix Update Super Hyper 10 85 13 75 1 12 Dec Completed Mar 2023 2024 Panda completed 10 additional CXR stores by end During Q1’24, Clix was rolled out in 13 stores, as of Q1’24 part of the wider rollout plan in 2024 and 2025 16
Slide 17: Al Kabeer
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Slide 18: Al Kabeer – Financial Highlights
Al Kabeer – Financial Highlights Margin SAR in millions Q1-23 Q1-24 Q1-23 Q1-24 ▪ During Q1’24, Al Kabeer reported a healthy sales growth primarily driven by better volumes across most Q1-19 product categories +9% ▪ Al Kabeer’s Revenue grew in both 0% its core KSA and UAE markets 211 230 Revenue Gro
Slide 19: Herfy
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Slide 20: Financial Summary
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Slide 21: Financials – Q1 2024
Financials – Q1 2024 (All figures are in SAR mn) Segment Wise Financials 1 Q1 2024 Q1 2023 Revenue Gross Profit EBIT Net Income EBITDA Revenue Gross Profit EBIT Net Income EBITDA Savola Foods Oil 2 Arabia 906 201 124 106 138 1,088 244 171 147 186 Other Markets3 2,008 417 326 59 348 2,237 346 247 97
Slide 22: Thank you
Jgola SAVOLA Thank you www.savola.com 22