Afg International Company · TADAWUL:4240
Afg International — Cenomi Retail — Q1 2026 Earnings Presentation
29 slides from Afg International's earnings presentation, May 2026
Slide 1: Cenomi Retail Q1 2026 Earnings Presentation
Cenomi Retail Q1 2026 Earnings Presentation May 2026
Slide 2: Disclaimer
Disclaimer This presentation has been prepared solely for use as an Earnings presentation for Cenomi Retail. (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 on
Slide 3: Agenda
Agenda 1 Highlights & Strategic Review 2 Financial Overview 3 Key Takeaways 4 Appendix
Slide 4: Highlights & Strategic Review
Highlights & Strategic Review 4
Slide 5: Q1 2026 Performance Highlights
Q1 2026 Performance Highlights Operational Performance Segmental Performance Financial Performance Store Network KSA Retail Revenue Revenue 730 stores at year-end SAR 947.1 mn SAR 1,364.6 mn -9.8% year-on-year -0.4% year-on-year +2.4% year-on-year POS Transactions KSA International Retail Revenue Op
Slide 6: Continued Focus on Optimizing Market, Brand & Store Footprint
Continued Focus on Optimizing Market, Brand & Store Footprint Store network evolution 809 ▪ 1 stores opened 792 780 Q1-25 742 ▪ 64 stores closed 730 262 Retail 271 273 240 234 ▪ 0 stores opened Q1-26 ▪ 6 stores closed 219 209 204 201 197 ▪ 2 stores opened Q1-25 ▪ 12 stores closed 328 312 303 301 299
Slide 7: Continuing our path to enhanced potential and profitability
Continuing our Path to Enhanced Potential and Profitability Continuing our path to enhanced potential and profitability Phase 1: Fix The House Phase 3: Achieving Optimal Potential ▪ Rationalize brand and store portfolio ▪ Scale existing brands to maximum potential ▪ Exit/stabilize non-strategic mark
Slide 8: Phase 2: Embark on Growth
Phase 2: Embark on Growth Continuing our path to enhanced potential and profitability Key Operational & Strategic Highlights Ongoing Transformation • Fashion: Higher productivity and international expansion, led by strong 2024-2026 Inditex performance • F&B: Portfolio streamlined; underperforming br
Slide 9: Key Execution Focus for the Next Phase
Key Execution Focus for the Next Phase Continuing our path to enhanced potential and profitability Key Strategic Focus in 2026 Store Portfolio 2026+ • Selective openings in high-traffic premium locations (e.g., Westfield Phase 3: Achieving Optimal Potential Riyadh and Westfield Jeddah) • Targeted re
Slide 10: Financial Overview
7 cenomi _ Financial Overview
Slide 11: Q1 2026 Revenue Growth Underpinned by Strong International Performance
Q1 2026 Revenue Growth Underpinned by Strong International Performance Revenue (SAR Million) LFL sales growth (%) +2.4% Q1-25 Q1-26 Chg. 1,332 1,438 1,365 Group 6.5% 3.5% -3.0pp 1,207 1,126 Saudi 6.4% -0.4% -6.8pp International 11.0% 18.4% +7.4pp F&B -6.7% -8.6% -1.9pp Q1-25 Q2-25 Q3-25 Q4-25 Q1-26
Slide 12: Growing Penetration and Strong Growth of Online Channels
Growing Penetration and Strong Growth of Online Channels Online revenue (SAR Million) E-commerce (% of total revenue) 8.7% 8.6% 8.5% 124 8.0% 112 117 96 7.4% 84 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 ▪ Strong momentum across KSA retail and international segments which increased
Slide 13: Portfolio Optimization Enabling Solid Revenue per Store
Portfolio Optimization Enabling Solid Revenue per Store Revenue Per Store (Group) Revenue Per Store (KSA) 850 1,647 2,500 3,168 1,939 1,869 340 2,899 2,931 3,500 1,422 1,548 800 2,000 320 2,183 2,250 3,000 750 300 2,500 700 1,500 Number of 280 2,000 Number of 650 Stores Stores 1,000 260 1,500 600 50
Slide 14: Gross Profit Decline Driven by Promotional Activity and Logistics Disruptions
Gross Profit Decline Driven by Promotional Activity and Logistics Disruptions Gross Profit (SAR Million) Margin 11.3% 15.8% 7.3% 11.3% 9.4% ▪ Gross profit declined by 14.6% YoY to SAR 128.6 million, -14.6% primarily due to seasonal promotions, tighter logistics conditions that affected shipment volu
Slide 15: Net Profit Impacted by Higher Costs and Absence of Prior-Year Divestment Gain
Net Profit Impacted by Higher Costs and Absence of Prior-Year Divestment Gain Operating profit (SAR Million) Net Profit (SAR Million) Margin 6.3% -0.8% -3.5% -8.5% 3.4% Margin 0.1% -7.5% -10.1% -20.2% -3.5% -45.1% 83 46 2 (9) (47) (42) (85) (122) (123) (291) Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q1-25 Q2-25
Slide 16: Balance Sheet Remained Stable
Balance Sheet Remained Stable Total Net Debt (SAR Million ) +1.5% ▪ Net debt stood at SAR 2.8 billion at the end of Q1 2026, up 1.5% from FY 2025 2,743 2,786 levels ▪ The Al-Futtaim shareholder loan and the Emirates NBD (KSA) term loan facility remained in place under their existing terms, as set ou
Slide 17: Key Takeaways
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Slide 18: Key Takeaways
Key Takeaways Topline Profitability Financial position Strategy Execution International, online, and Revenue +2.4% YoY to SAR 1.36 Gross margin held at 9.4% SAR 1.35 bn Al-Futtaim productivity gains, alongside a bn, with International Retail under promotional and logistics shareholder facility and S
Slide 19: Appendix
Tq cenomi aed Appendix
Slide 20: Income Statement
Income Statement SAR million Q1-25 Q1-26 Change (+/-) Revenue 1,332 1,365 2% Cost of revenue -1,181 -1,236 5% Gross profit/(loss) 151 129 -15% Margin 11.3% 9.4% (1.9pp) Selling and distribution expenses -25 -35 40% General and administrative expenses -68 -60 -12% Other operating expense -6.9 -2.9 -5
Slide 21: Balance Sheet
Balance Sheet SAR million 30-Mar-25 30-Mar-26 Change (+/-) SAR million 30-Mar-25 30-Mar-26 Change (+/-) Assets Equity & Liabilities Property, Plant and Equipment 1,084 963 -11% Share Capital 1,148 1,148 0% Right-of-Use Assets 1,468 1,310 -11% Reserves ( Statutory, Foreign Currency and Fair Value) -6
Slide 22: Cenomi Retail at a Glance
Cenomi Retail at a Glance The leading franchise retailer in Saudi Arabia, and the only listed business of its type in the Middle East 730 stores 299 Saudi retail stores Kazakhstan Georgia c. 304K sqm 234 F&B outlets Armenia Azerbaijan Uzbekistan Jordan 197 Egypt 8 countries International KSA stores
Slide 23: KSA Consumer Spending on Rising Trend
KSA Consumer Spending on Rising Trend POS Transactions* Year on Year - KSA Market (SAR Million) POS Transactions* - KSA Market (SAR Million) +6% +9% 7,07,151 +3% +10% +26% +1% +8% +11% 6,68,185 78,450 +10% 6,13,957 Q1'25 Q1'26 70,673 +18% 5,59,135 4,73,258 29,984 27,195 1,89,714 20,322 20,832 20,573
Slide 24: International LFL Momentum Offset Softer Domestic Trading
International LFL Momentum Offset Softer Domestic Trading LFL Saudi retail sales growth % LFL International retail sales growth % ▪ Saudi retail LFL decreased 0.4% in Q1-26, due to softer Ramadan trading ▪ International LFL grew 18.4% in Q1-26, driven by strong demand for Tier 1 Champion brands acro
Slide 25: Revenue Diversification Efforts Ongoing
Revenue Diversification Efforts Ongoing Revenue by division Revenue by channel Revenue by geography 3% 4% 4% 6% 4% 6% 7% 5% 5% 8% 7% 8% 9% 9% 7% 20% 29% 33% 27% 26% 23% 32% 33% 37% 33% 92% 93% 92% 91% 91% 69% 77% 68% 63% 69% 61% 71% 60% 56% 61% Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q1-25 Q2-25 Q3-25 Q4-25 Q
Slide 26: Business Model Adapting to Consumer Trends
Business Model Adapting to Consumer Trends Moving forward, Cenomi Retail will need to cater to new consumer trends Scale digital channels Increasing digital / e-commerce adoption with significant implications for the future of the industry. & reinvent role of stores Shift towards Re-mix portfolio to
Slide 27: Management
Management Salim Fakhouri Ahmed Abdelkareem Chief Executive Officer Chief Financial Officer 27
Slide 28: Investor Relations Contact
Investor Relations Contact Sarah Moussa Director of Investor Relations IR.retail@cenomi.com
Slide 29: Thank You
cenomi THANK YOU