Sustained Infrastructure Holding Company · TADAWUL:2190
Sustained Infrastructure — Sustainable Infrastructure Holding Company — Q3 2024 Earnings Presentation
28 slides from Sustained Infrastructure's earnings presentation, November 2024
Slide 1: Sustainable Infrastructure Holding Company Q3FY24 Earnings Presentation
SUSTAINABLE INFRASTRUCTURE HOLDING COMPANY Q3FY24 EARNING PRESENTATION
Slide 2: Agenda
AGENDA Contents Slide No. 1. HIGHLIGHTS Q3’2024 3 2. FINANCIAL PERFORMANCE 6 3. PORTFOLIO PERFORMANCE 10 A. PORTFOLIO – CONSOLIDATED ASSETS 11 B. PORTFOLIO – OTHER ASSETS 14 4. STRATEGY IMPLEMENTATION PROGRESS 16 6. OUTLOOK 20 7. APPENDIX 22 sisco.com.sa 2
Slide 3: Highlights Q3'FY24
HIGHLIGHTS Q3’FY24
Slide 4: Operational Highlights Q3'FY24
Operational Highlights Q3’FY24 Ports and Logistics Water Tawzea M&A Terminals Parks and segment Services Ports and Terminals Logistics Parks and Water segment M&A – we have signed segment saw strong Services revenues revenues rose, with Tawzea signed a one NBO and are in performance, driven grew, wi
Slide 5: 6X26 Strategy Implementation Key Updates
6X26 Strategy Implementation Key Updates Logistics • Increased bonded zone RSGT Bangladesh warehouse capacity to commenced operations in 120k m2 June 2024 • Work has commenced on • Additional concessions being 1. Fortify national championship ✓ pursued in East and West Africa Khumra Logistics Park a
Slide 6: Dry Powder Capital Allocation
Dry Powder Capital Allocation • Percentages are indicative only and may change from time to time at the SISCOs discursion and as business needs progress. ** Out of the total GDI commitment, SAR 61.6m has already been deployed Allocation Commitment Dividends 85.0 Share Buyback 6.2 10.8% Committed RSP
Slide 7: Financial Performance
| | PERFORMANCE FINANCIAL
Slide 8: Income Statement Highlights
Income Statement Highlights SAR millions (adjusted: excludes accounting construction revenue) GROUP GROSS PROFIT & MARGIN REVENUE 52.6% 53.5% REVENUE YTD GROSS PROFIT YTD SAR 901.8m SAR 469.5m 341.8 179.8 276.1 +16.2% 147.7 +13.8% Q3'23 Q3'24 Q3'23 Q3'24 • Revenue up 23.8% Y-Y and up 16.2% YTD drive
Slide 9: OPEX and Investment Income
OPEX and Investment Income SAR millions Q3 ADJUSTED INCOME FROM OPERATING EXPENSES FINANCE CHARGES EQUITY ACCOUNTED ASSOCIATES F/V Fees Others SAR 12 m 29.4 30 57% 21.5 59.5 63.7 50.7 FINANCE CHARGES 42.8 43.1 43.2 SAR 218.9m +15.6% Q3'23 Q2'24 Q3'24 Q3'23 Q2'24 Q3'24 • Operating expenses rose by SA
Slide 10: EBITDA and Net Income
EBITDA and Net Income SAR millions ADJUSTED NET INCOME ADJUSTED EBITDA & MARGIN & MARGIN 61.5% 8.6% 6.9% ADJUSTED EBITDA YTD ADJUSTED NET INCOME 58.8% YTD SAR 543.8m SAR 52.7m 23.7 23.6 210.2 162.3 +17.7% -19.6% Q3'23 Q3'24 Q3'23 Q3'24 • Adjusted net income in Q3 broadly remained in line with last y
Slide 11: Portfolio Performance
PORTFOLIO PERFORMANCE
Slide 12: Ports and Terminals Q3'FY24
Ports and Terminals Q3’FY24 SAR millions Q3 NET INCOME (MARGIN) REVENUE* GROSS PROFIT & SAR 46.9 m (16.7%) MARGIN Gateway Transhipment 56.7% +89.1% Y-Y Consignee 281.1 53.1% 248.2 54.9% 220.6 109.3 VOLUME (TEUS ‘000) 95.5 Gateway Transhipment 75.8 159.5 41.2 135.1 31.7 121.1 49.2 383 481 304 121 130
Slide 13: Logistics, Parks and Services Q3'FY24
Logistics, Parks and Services Q3’FY24 SAR millions Q3 NET INCOME (MARGIN) REVENUE GROSS PROFIT & SAR 4.7m (14.6%) MARGIN Land Warehouse Service -33.3% Y-Y 48.7% 32.3 32.6 44.6% 30.6 29.0% 14.8 15.5 OCCUPANCY (%) 14.7 Land Warehouse 15.7 13.7 80% 9.7 9.5 9.9 11.9 86% 88% 7.8 6 5.2 98% Q3'23 Q2'24 Q3'
Slide 14: Water Solutions Q3'FY24
Water Solutions Q3’FY24 SAR millions Q3 NET INCOME (MARGIN) GROSS PROFIT & REVENUE MARGIN SAR 8.4m (32.4%) Tawzea Others Other Revenue 49.1% +13.7% Y-Y 48.0% 26.1 47.2% 23.3 23.5 3.6 2.9 3.2 VOLUME, WATER SOLD (MN M3) 8.2 Tawzea Others 7.3 7.4 12.8 11 11.3 1.4 1.3 1.3 13.1 12.9 14.3 2.6 2.6 2.9 Q3'2
Slide 15: Tawzea Q3'FY24
Tawzea Q3’FY24 SAR millions ADJUSTED GROSS PROFIT & Q3 NET INCOME (MARGIN) REVENUE MARGIN 13.6% SAR 15.6 m (9.9%) 13.7% +92.6% Y-Y 11.4% 158.3 21.6 131.1 SISCO SHARE OF 117 16.0 15.0 Q3 NET INCOME SAR 7.8m Q3'23 Q2'24 Q3'24 Q3'23 Q2'24 Q3'24 +92.6% Y-Y • Reported adjusted revenue (excl. accounting c
Slide 16: SA Talke Q3'FY24
SA Talke Q3’FY24 SAR millions Q3 NET INCOME REVENUE ADJUSTED GROSS PROFIT & MARGIN SAR 16.4m 28.2% 27.7% 26.3% -6.8%Y-Y 78.7 77.8 81.4 22.2 SISCO SHARE OF Q3 21.6 21.4 ADJUSTED NET INCOME SAR 6.0m Q3'23 Q2'24 Q3'24 Q3'23 Q2'24 Q3'24 -6.3 % Y-Y • Revenue broadly stable • SISCO Holding’s share in adju
Slide 17: Appendix
APPENDIX
Slide 18: Strategy
STRATEGY
Slide 19: Strategic Objectives
Strategic Objectives Revenue of SAR Target ROIC of 1 2 billion by 2026 more than 12% Targeting 50% revenue and 2 net income contribution from Logistics and Water segments Strong total Sustainable 3 returns for dividend shareholders distribution sisco.com.sa 19
Slide 20: Outlook
OUTLOOK |
Slide 21: Management Outlook
MANAGEMENT OUTLOOK Ports and Logistics Water M&A Terminals Parks and segment Services Our Ports segment is LogiPoint continued the Improvement of gross During the year we well positioned to expansion of its profit margins in completed two M&A maintain strong warehouse capacity by Water segment, tran
Slide 22: Revenue and Gross Profit Composition
Revenue And Gross Profit Composition Ports Logistics Water SAR millions Revenue Composition Adjusted Gross Profit Composition 147.7 156.8 179.8 412.7 469.5 8.0% 35.3 10.0% 9.0% 33.3 35.6 11.0% 40.2 12.8 11.0 12.3 398.6 9.4 339.2 82.0% 15.7 13.7 121.0 131.8 157.6 82.0% Inner | 9M 2023 Outer | 9M 2024
Slide 23: Income Statement - Quarterly
Income Statement - Quarterly SAR 000 Q3 2023 Q3 2024 Variance Q2 2024 Operational Revenue 276.1 341.8 23.8% 302.5 Direct Costs (128.6) (161.9) -25.9% (145.6) Gross Profit 147.7 179.8 21.7% 156.9 Operating expenses (50.7) (63.7) 25.6% (59.4) Operating Profit 97.0 116.1 19.7% 97.5 Investment Income 7.
Slide 24: Income Statement – FY 2024
Income Statement – FY 2024 SAR 000 YTD 2023 YTD 2024 Variance Operational Revenue 776.4 901.9 16.2% Direct Costs (363.7) (432.3) 18.9% Gross Profit 412.7 469.6 13.8% Operating expenses (150.1) (176.4) 17.5% Operating Profit 262.6 293.0 11.6% Investment Income 25.3 (17.8) -170.4% Finance Charges (183
Slide 25: Balance Sheet
Balance Sheet FY 2023 9M 2024 Fixed Assets 4,284.6 4,358.8 Investments 283.6 254.8 Other Long-Term Assets 6.0 6.0 Current Assets 1,415.7 1,383.0 Total Assets 5,989.9 6,002.6 Borrowings 1,492.4 1,295.5 Long Term Liabilities 1,553.0 1,633.7 Current Liabilities (excl. borrowings) 629.8 638.6 Total Liab
Slide 26: Cash Flow Statement
Cash Flow Statement 9M 2023 9M 2024 Operating cash flow before working capital 452.3 502.6 SAR million FY 2023 9M 2024 Net working capital movement (103.3) (242.5) Cash At Center 370.4 315.8 Cash generated from operating activities 349.0 260.1 Cash At Affiliates 796.4 699.6 Finance charges, Zakat &
Slide 27: Disclaimer
Disclaimer • This presentation is strictly confidential and is being shown to you solely for your information and may not be reproduced, retransmitted, further distributed to any other person or published, in whole or in part, for any purpose. • This presentation has been prepared by SUSTAINABLE INF
Slide 28: sisco.com.sa
& sisco.com.sa Qa 7
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