23 slides from Al Hassan Ghazi Ibrahim Shaker's earnings presentation, Nov 15, 2022
Slide 1: Investor Presentation Q3 & 9M 2022
Shaker Investor Presentation Q3 & 9M 2022 As at 30 September 2022 15th November 2022
Slide 2: Disclaimer
Disclaimer This presentation has been prepared solely for use as an investor presentation for Shaker (the “Company”). By attending or by reading this presentation, you agree to be bound by the following limitations. The information contained in this presentation is for background purposes only and d
Slide 3: Today's Presenters
Today’s Presenters Mohammed Abunayyan Mazen ElGhafeer Firas Al Sayegh Chief Executive Officer Vice President – Finance Director – Strategy & Transformation Page 3
Slide 4: Agenda
Agenda • Strategic Highlights • Financial Performance • Q&A Session • Appendix I: Detailed Financials • Appendix II: Overview of Shaker Page 4
Slide 5: Strategic Highlights
Strategic Highlights
Slide 6: Strategic Milestones
Strategic Milestones SIGNIFICANT ACHEIVMENTS GROWTH DRIVERS CORE BUSINESS UPDATES • Ongoing execution on growth • Thriving B2B segment growth • Supported Estbdal Initiative by SEEC to strategy with megaproject wins (NEOM, replace older air conditioning units with Amaala, Red Sea Development newer, m
Slide 7: Financial Performance
FINANCIAL PERFORMANCE
Slide 8: Key Highlights: Q3 2022
Key Highlights: Q3 2022 Revenue by Segment SAR (Millions) Gross Profit +0.8% Gross Profit Margin +0.4pp -1% Q3 2022 Q3 2022 22.4% 57.63 1.50 Q3 2021 57.15 Q3 2021 22.0% 0.93 Q3 2021 0.58% Q3 2022 0.36% EBITDA -17.5% EBITDA Margin -1.57pp 77.96 Q3 2022 20.1 Q3 2022 7.80% 30.25% Q3 2021 24.4 Q3 2021 9
Slide 9: Key Highlights: 9M 2022
Key Highlights: 9M 2022 Revenue by Segment SAR (Millions) Gross Profit +14.25% Gross Profit Margin +1.49pp +6.7% 9M 2022 9M 2022 22.51% 201.07 9M 2021 176.00 9M 2021 21.03% 2.75 9M 2021 2.27 9M 2022 0.33% 0.25% EBITDA +7.47% EBITDA Margin +0.06pp 9M 2022 69.71 9M 2022 7.81% 361.99 9M 2021 64.86 9M 2
Slide 10: Robust Balance Sheet
Robust Balance Sheet Key Return Ratios (YoY) 5.25% ROA +0.25pp ROE +0.91pp 4.34% 1.94% 9M 2022 9M 2022 5.25% 2.05% 1.31% 9M 2021 1.80% 9M 2021 4.34% 1.80% 2.05% 0.80% 0.51% Return on Return on Return on Return on Assets Equity Assets Equity Current Ratio -6.16% EBIT/Int. Expense +3.89% 9M 2021 9M 20
Slide 11: Deleveraging of Balance Sheet
Deleveraging of Balance Sheet Long-term Debt – Paid down in-full 96.6 83.6 79.3 71.0 62.6 Total Liabilities/Total Assets 4.1% Total Liabilities/Equity +10.48% 54.3 9M 2022 1.56x 9M 2022 0.61x 0.0 9M 2021 0.58x 9M 2021 1.41x Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Interest Bearing Deb
Slide 12: Cash Flow Bridge
Cash Flow Bridge Includes Zakat, Finance Disposal classified as held Highlights Costs, & EOSB payments for sale (EMS) • Net Cash Position was 32.8M 21.0 0.6 mainly driven by higher Operating Cash of 42.6M. 44.0 95.7 95.1 o Change in WC is mainly driven by higher -22.9 -0.5 85.9 Inventories off set b
Slide 13: Q&A Session
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Slide 14: Appendix I: Detailed Financials
APPENDIX I: Detailed Financials
Slide 15: Income Statement
Income Statement SAR ‘000 9M 2022 9M 2021 YoY Change YoY Change (%) (SAR ‘000) Sales 893,059 836,983 56,076 7% Cost of Sales (691,987) (660,986) (31,001) -5% Gross Profit 201,072 175,997 25,075 14% G&A Expenses (62,050) (66,015) 3,965 6% S&D Expenses (87,407) (73,451) (13,956) -19% Impairment Loss o
Slide 16: Cash Flow Statement
Cash Flow Statement SAR ‘000 9M 2022 9M 2021 YoY Change YoY Change (SAR ‘000) (%) Cash Flows from Operating Activities Profit/(loss) before Zakat and Taxes 43,948 36,271 7,677 21% Adjustments for Non-Cash Items 20,975 20,688 287 1% Changes in Working Capital 606 (134,861) 135,467 NM Others (Finance
Slide 17: Balance Sheet
Balance Sheet SAR ‘000 9M 2022 9M 2021 YoY Change YoY Change (SAR ‘000) (%) ASSETS Non-Current Assets 699,313 679,794 19,519 3% Current Assets 998,918 853,807 145,111 17% Assets relating to disposal group classified as held for sale 14,178 0 14,178 NM Total Assets 1,712,409 1,533,601 178,808 12% EQU
Slide 18: Shareholding Structure
Shareholding Structure Shareholding structure Share information Market Tadawul, Saudi Arabia Currency SAR 12.2% Listing date May 2010 9.9% Financial year-end 31 December Lafana Holding Tawazon Arabia Co Authorized capital (SAR) 482,334,000 Lama Holding 5.7% Issued shares 48,233,400 Other /Public 72.
Slide 19: Appendix II: About Shaker
APPENDIX II: About Shaker,
Slide 20: Shaker Overview
Shaker Overview Exclusive Saudi distributor for internationally acclaimed home appliances brands: The Middle East’s • Maytag (1980) leading A/C • Ariston (1994) solutions • Indesit (2005) company • Midea (2008) • Bissell (2015) Subsidiary: ESCO • Bompani (2020) • Energy saving Saudi’s leading Origin
Slide 21: Key Differentiators
Key Differentiators Products, brands Distribution Management Manufacturing Growing market & services capability Market-leading Kingdom-wide A robust Joint Venture The market for AC products, distribution management with LG Air solutions and Home internationally- network for all framework Conditionin
Slide 22: Corporate Milestones
A history of success stories and key Corporate Milestones milestones Launched Capital increase from SAR 350 million to Air Conditioners (Sole SAR 630 million Distribution Rights KSA Manufacturing Expansion of LG Air Launched Arm - Joint Venture Publicly Listed - Annual sales Conditioning Launched si
Slide 23: Contact
CONTACT MR. MAZEN ELGHAFEER VICE PRESIDENT FINANCE M.GHAFEER@SHAKER.COM.SA +966-11-2638900