26 slides from Abu Dhabi National Oil Company For Distribution's earnings presentation, May 9, 2024
Slide 1: Q1 2024 Results Presentation
ADNOC Classification: Public Q1 2024 RESULTS PRESENTATION INVESTOR & ANALYST CONFERENCE CALL 9 May 2024 ADNOC DISTRIBUTION
Slide 2: Agenda
ADNOC Classification: Public Agenda 01 EXECUTIVE SUMMARY 02 STRATEGY UPDATE 03 Q1 2024 RESULTS 04 CLOSING REMARKS 2 © ADNOC Distribution
Slide 3: Disclaimer
ADNOC Classification: Public Disclaimer This communication includes forward-looking statements which relate to, among other things, our plans, objectives, goals, strategies, future operational performance and anticipated developments in markets in which operate and in which we may operate in the fut
Slide 4: Executive Summary
ADNOC Classification: Public 01 EXECUTIVE SUMMARY SPEAKER: ATHMANE BENZERROUG CHIEF STRATEGY, TRANSFORMATION & SUSTAINABILITY OFFICER ADNOC DISTRIBUTION 4
Slide 5: ADNOC Distribution equity story
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix ADNOC Distribution equity story Track record of Focus on delivering Solid performance and shareholder value creation sustainable growth cashflow visibility Demonstrable solid business Va
Slide 6: Q1 2024 key achievements & 2024 outlook
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix Q1 2024 key achievements & 2024 outlook One of the strongest quarters driven by the continued expansion and volumes growth Outlook: focus on disciplined growth, Robust operating performa
Slide 7: Placing sustainability at the core of our operations and futureproofing the business
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix Placing sustainability at the core of our operations and futureproofing the business Strategic initiatives 2023 achievements Tomorrow Energy optimization Reduce energy use across our ass
Slide 8: Growth Strategy Update
ADNOC Classification: Public 02 GROWTH STRATEGY UPDATE SPEAKER: BADER SAEED AL LAMKI CHIEF EXECUTIVE OFFICER ADNOC DISTRIBUTION
Slide 9: Committed to 100% HSE
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix Committed to 100% HSE Q1 2024 HSE performance ✓ ADNOC Distribution is committed to maintaining the highest standards of safety in delivering its product and services 0.00 mmhrs TRIR(1) Z
Slide 10: Key strategic update: Fuel business in Q1 2024
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix Key strategic update Fuel business in Q1 2024 Significant growth in fuel volumes sold in GCC (UAE and KSA) in Q1 2024: +9.3% Y-o-Y to 2.9 bn liters: ✓ Retail fuel volumes: +7.0% Y-o-Y ✓
Slide 11: Key strategic update: Non-fuel retail business in Q1 2024
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix Key strategic update Non-fuel retail business in Q1 2024 Double-digit growth in non-fuel retail segment gross profit ✓ Non-fuel retail gross profit, supported by double-digit growth in C
Slide 12: Future proofing our business
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix Future proofing our business Leading mobility and energy transition EV charging infrastructure ✓ EV strategy promotes clean mobility solutions and unlocks new revenue streams ✓ ADNOC Dis
Slide 13: ADNOC Rewards
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix ADNOC Rewards A key driver for incremental growth through enhanced customer experience and loyalty 2.0m New Tiers system with personalized rewarding experience 80K+ members enrolled in Q
Slide 14: Q1 2024 Results
ADNOC Classification: Public 03 Q1 2024 RESULTS SPEAKER: WAYNE BEIFUS CHIEF FINANCIAL OFFICER ADNOC DISTRIBUTION
Slide 15: Operating performance
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix Operating performance Strong growth in both fuel and non-fuel businesses Total fuel volumes (mL) Fuel volumes, UAE and KSA (mL) Number of service stations 3,686 846 2,900 814 3,144 2,654
Slide 16: Financial performance
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix Financial performance Solid growth in EBITDA and net profit (excl. UAE tax impact) supported by volume growth, higher contribution from NFR and international operations underpinned by ef
Slide 17: Gross profit by operating segment
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix Gross profit by operating segment $m Q1 2024 Q1 2023 YoY (%) Retail (B2C) 311 266 16.9% of which fuel 256 219 17.1% of which non-fuel1 55 47 16.2% Retail margin, % 19.9% 18.6% Commercial
Slide 18: OPEX update
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix OPEX update Strong control over the costs Other1 15% Utilities 9% Q1 2024 cash OPEX split Distribution 4% ($162m) & marketing 7% Repairs, 66% maintenance & consumables Staff costs ✓ ADNO
Slide 19: EBITDA by operating segment
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix EBITDA by operating segment $m Q1 2024 Q1 2023 YoY (%) Retail (B2C) 174 148 17.1% Retail margin, % 11.1% 10.4% Commercial (B2B) 71 60 17.1% of which Corporate 51 46 10.3% of which Aviati
Slide 20: Cash generation
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix Cash generation Net debt / Free cash flow of $158 million 0.50x 0.62x EBITDA -13 -77 13 -36 249 -26 0 870 979 Cash at Cash flow from Working capital Capex Paid Interest received Finance
Slide 21: Closing Remarks
ADNOC Classification: Public 04 CLOSING REMARKS SPEAKER: BADER SAEED AL LAMKI CHIEF EXECUTIVE OFFICER ADNOC DISTRIBUTION
Slide 22: Closing remarks
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix Closing remarks Deliver incremental growth with a focus operational excellence and futureproofing our business Strong execution Deliver incremental and Attractive shareholder momentum in
Slide 23: Q&A
ADNOC Classification: Public Executive Summary Strategy Update Q1 2024 Financial Results Closing Remarks Appendix Q&A Bader Saeed Al Lamki Wayne Beifus Athmane Benzerroug Chief Executive Officer Chief Financial Officer Chief Strategy, Transformation & Sustainability Officer © ADNOC Distribution
Slide 24: Q1 2024 Results Presentation
ADNOC Classification: Public ADNOC DISTRIBUTION Q1 2024 RESULTS PRESENTATION IR@ADNOCDISTRIBUTION.AE ADNOC DISTRIBUTION 24
Slide 25: Operating performance
ADNOC Classification: Public Executive Summary Strategy Update Q1 Q12024 2024Financial FinancialResults Results Closing Remarks Appendix Operating performance million liters Q1 2024 Q1 2023 YoY (%) 2023 2022 YoY (%) Q1 2024 Retail (B2C) 1,868 1,746 7.0% 7,220 6,586 44.9% 2.9 billion liters Fuel volu
Slide 26: Financial performance
ADNOC Classification: Public Executive Summary Strategy Update Q1 Q12024 2024Financial FinancialResults Results Closing Remarks Appendix Financial performance Performance supported by volume growth, higher contribution from international operations and efficiency $m Q1 2024 Q1 2023 YoY (%) 2023 2022