Baladna Q.p.s.c · QSE:BLDN
Baladna Q.p.s.c — FY2023 Earnings Presentation
32 slides from Baladna Q.p.s.c's earnings presentation, Feb 29, 2024
Slide 1: Full Year 2023 Financial Results Presentation
BALADNA Q.P.S.C. Full Year 2023 Financial Results Presentation 29 February 2024
Slide 2: Disclaimer
Disclaimer This presentation is made only to, and is directed only at, persons to whom such a presentation may lawfully be communicated (“relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or any of its contents Information contained in this prese
Slide 3: Table of contents
Table of contents Key messages 4-6 Operational and commercial update 7 - 12 Financial performance 13 - 20 Shareholder information 21 - 22 Management outlook 2023 23 - 24 Appendix 25 - 30 3
Slide 4: Key Messages
Key Messages 4
Slide 5: Key Messages
Key Messages ▪ In the year 2023, Baladna achieved a revenue of QAR 1,057 million and a net profit of QAR 110m which corresponds to a revenue and net profit growth of 7% and 36% respectively, compared to the same period last year ▪ During the fourth quarter of 2023, Baladna achieved a revenue of QAR
Slide 6: Key investment highlights
Key Messages Key investment highlights Market leader in the Dairy Excellent product Strong financial Strategic and dedicated Continuous identification of and Beverages sector in innovation track record and performance and Cash flow shareholder support growth enablers Qatar access to consumer insight
Slide 7: Operational and Commercial Update
Operational and Commercial Update 7
Slide 8: Key operational highlights
Operational and Commercial Update Key operational highlights FY 2022 FY 2023 YoY growth Overall market share ▪ Increase in market share driven by a growth 1 51.0% 53.5% 2.5% in sale volumes across the majority of product categories Source: AC Nielsen Market share reflects MAT 12 months Total no. of
Slide 9: Market Segmentation (1/3)
Operational and Commercial Update Market Segmentation (1/3) Fresh milk 96.3% 92.6% ▪ YoY market share growth: +3.7% 96.3% ▪ Retained strong #1 position Market share FY 22 FY 23 UHT milk 89.5% 84.8% ▪ YoY market share growth: +4.7% 89.5% ▪ Retained strong #1 position Market share FY 22 FY 23 Laban 50
Slide 10: Market Segmentation (2/3)
Operational and Commercial Update Market Segmentation (2/3) Yoghurt ▪ YoY market share growth: +2.2% 48.0% 45.8% 48.0% ▪ Retained strong #1 position Market share FY 22 FY 23 Labneh 48.3% 41.5% ▪ YoY market share growth: -6.8% 41.5% ▪ Retained the market leadership Market share FY 22 FY 23 Cheese 27.
Slide 11: Market Segmentation (3/3)
Operational and Commercial Update Market Segmentation (3/3) Creams 60.0% 60.0% ▪ YoY market share growth: 0.0% 60.0% ▪ Retained strong #1 position Market share FY 22 FY 23 Juice 20.4% 19.0% ▪ YoY market share growth: -1.4% 19.0% ▪ Remains a significant growth opportunity Market share FY 22 FY 23 Sou
Slide 12: Introduction of new SKUs over the twelve-months of 2023
Operational and Commercial Update Introduction of 23 new SKUs over the twelve-months of 2023 7KG Akawi Cheese (Deli) 6KG Mozzarella Cheese (Deli) ▪ Baladna is constantly looking to enhance its product mix by adding additional products and optimizing its portfolio ▪ Over the course of the twelve-mont
Slide 13: Financial Performance
Financial Performance 13
Slide 14: Key Financial Highlights
Financial Performance for the Year Ended 31 December 2023 Key Financial Highlights FY 2022 FY 2023 YoY growth Revenue Increase in sales volumes across both HORECA and Retail channels due to capitalization of 1 QAR 986m QAR 1,057m 7% improved market conditions resulted in growth in revenue by 7% EBIT
Slide 15: Financial performance development
Financial Performance Financial performance development Revenue (QAR m) Net profit (QAR m) +11% +3% +7% +102% 80% 36% 1,057 110 986 81 45 45 256 284 277 284 25 22 Q3 2023 Q4 2023 Q4 2022 Q4 2023 FY 2022 FY 2023 Q3 2023 Q4 2023 Q4 2022 Q4 2023 FY 2022 FY 2023 NP 9% 16% 9% 16% 8% 10% QoQ YoY YoY margi
Slide 16: Margins positioning compared to regional peers
Increase in fair value gain on share investments mainly contributed to the increase of the margins over the peers Margins positioning compared to regional peers FY 2023 EBITDA margin Median: 14.3% 30.7% 26.2% 14.3% 14.2% 18.5% 10.2% 11.9% KSA Peer KSA Peer KSA Peer UAE Peer KSA Peer Egypt Peer Balad
Slide 17: Revenue by channel
Revenue by channel Growth recorded in all channels Contribution by Channel (Full year 2023) Growth by Channel Channel wise revenue contribution (in percentage) Full year 2023 channel wise growth (vs Full year 2022) Growth (in percentage) Growth (QAR) 20% 4% 13.2m HORECA 3.9% Total revenue QAR 1,057m
Slide 18: Revenue composition and growth – Year-on-year
Financial Performance Revenue composition and growth – Year-on-year Revenue composition (QARm) +7% +8% +8% 1,057 986 +5% 247 268 250 230 +18% 163 +16% +9% +17% -25% 155 +10% +12% 88 104 80 68 69 64 70 43 47 51 16 19 5 6 % of total 25% 25% 23% 24% 16% 15% 7% 8% 7% 7% 4% 4% 9% 10% 2% 2% 0% 0% 7% 5% 10
Slide 19: Cashflow management for the year 2023
Financial Performance Cashflow management for the year 2023 Cashflow (QARm) (2.3) (33.4) Cumulative balance 198 152 42 (217) (31) (33) ▪ Baladna continues to generate robust cash from operations as a result of the growth in revenues ▪ Efficient working capital management, mainly in the form of inven
Slide 20: Financial position as at December 31, 2023
Financial Performance Financial position as at December 31, 2023 Total assets (QAR million) Total shareholders’ equity and liabilities (QAR million) Dec-23 Dec-22 Growth Dec-23 Dec-22 Growth Fixed Assets 3,189 3,128 2% Islamic financing 1,721 1,634 5% Biological Assets 196 220 -11% Other Non-Current
Slide 21: Shareholder Information
Shareholder Information 21
Slide 22: Shareholder information (as at December 2023)
Shareholder Information Shareholder information (as at 31 December 2023) General information Share price versus DSM 1 January 2023 to 31 December 2023 (rebased to 100) 110 105 100 (0.0%) ▪ Company name Baladna Q.P.S.C. 95 90 ▪ Ticker (QE) BLDN 85 80 (20.6%) 75 ▪ Market cap: QAR 2.3b 70 65 ▪ Common s
Slide 23: Management Outlook 2024
Management Outlook 2024 23
Slide 24: Management outlook for 2024
Management Outlook Management outlook for 2024 Bringing new products to the market is at the heart of Baladna’s strategy as we aim to continue Product product innovation and introduce new products to capture greater market share. We are development committed to delivering unmatched excellence across
Slide 25: Appendix
Appendix 25
Slide 26: Profit and loss statement – Year 2023
Appendix Profit and loss statement – Year 2023 QAR m Year 2023 Year 2022 Change Revenue 1,056.8 100% 985.6 100% 7% Cost of revenue (846.4) -80% (775.7) -79% 9% Gross profit 210.4 20% 209.9 21% 0% Other income 117.7 11% 117.4 12% 0% Gain/(loss) from Investment Securities 30.2 3% (23.2) -2% -230% Divi
Slide 27: Company Profile
Appendix Company Profile Our purpose Product range To ensure healthy, natural food and beverages that delight our customers and contribute to the food security of Qatar. Who we are Established in 2014, Baladna is Qatar’s leading dairy and beverage company, with a diversified product offering, world-
Slide 28: BoD Members
Appendix BoD Members ` ` ` ` Moutaz Al-Khayyat Ali Hilal Al-Kuwari Ramez Al-Khayyat Abdulaziz Mahmoud Al-Zeyara Group Chairman Vice Chairman Board Member/ Board Member Managing Director Hamad Bin Abdullah Bin Mazen Alsbeti Aidan Tynan Khalid Al-Attiya Board Member Independent Board Member Board Memb
Slide 29: Senior Management Team
Appendix Senior Management Team Ramez Al-Khayyat Malcolm Jordan Saifullah Khan Board Member / Managing Director Chief Executive Officer Chief Financial Officer Paul Kenny Nasser Al Maslamani Julian Marcolini Chief Commercial Officer Chief Corporate Services Officer Chief Operations Officer 29
Slide 30: Glossary
Appendix Glossary EBITDA Earnings Before Interest, Tax, Depreciation and Amortization EPS Earnings Per Share HORECA Hotels, Restaurants and Catering NP Net Profit NPD New Product Development SKU Stock Keeping Unit UHT Ultra-High Temperature 30
Slide 31: ‘A BALADNA® yy
‘A BALADNA® yy 31
Slide 32: Thank you
THANK YOU “& BALADNA®