Baladna Q.p.s.c · QSE:BLDN
Baladna Q.p.s.c — Q3 2024 Earnings Presentation
34 slides from Baladna Q.p.s.c's earnings presentation, Oct 29, 2024
Slide 1: Q3 2024 Financial Results Presentation
BALADNA Q.P.S.C. Q3 2024 Financial Results Presentation 29 October 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 Shareholder Information 21-22 Financial performance 7-14 Management outlook 23-24 Operations and commercial update 15-20 Appendix 25-32
Slide 4: Key Messages
Key Messages
Slide 5: Strengthening our market leadership through exceptional financial performance and strategic expansion
Strengthening our market leadership through exceptional financial 5 performance and strategic expansion Financial Highlights Strategic Highlights Continued expansion of the dairy and juice portfolio, YTD Revenue YTD Net Profit strengthening Baladna’s position as Qatar’s leading nutritional brand QAR
Slide 6: Building long-term value through innovation, operational excellence and strategic partnerships
Building long-term value through innovation, operational excellence 6 and strategic partnerships Excellent product innovation Continuous identification of Market leader in the Dairy and Strong financial performance track record and access to growth enablers Beverages sector in Qatar and Cash flow ma
Slide 7: Financial Performance
Financial Performance
Slide 8: Financial Performance for YTD September 2024
Financial Performance for YTD September 2024 8 Key Financial Highlights YTD Sep 2024 YTD Sep 2023 YOY growth Key Insights o Sales volumes increased across HORECA and Revenue 859m 773m 11% Retail channels, capitalizing on favorable market (QAR) conditions and increased market share in key product cat
Slide 9: Financial Performance for Q3 2024
Financial Performance for Q3 2024 9 Key Financial Highlights Q3 2024 Q3 2023 YOY growth Key Insights o Increase in sales volumes across both HORECA and Revenue 264m 256m 3% Retail channels and gain in market share across key (QAR) product categories resulted in growth in revenue by 3% o Increase in
Slide 10: Financial Performance Quarter-on-Quarter and Year-on-Year
Financial Performance Quarter-on-Quarter and Year-on-Year 10 Revenue (QAR m) Key Insights -15% +18% -6% +3% o Quarter-on-Quarter performance 264 impacted due to seasonality 313 256 282 264 225 o Year-on-year revenue growth driven by increased sales volumes and market share gains across key Q1 2024 Q
Slide 11: Baladna outperforms its peers in terms of profitability margins
Baladna outperforms its peers’ in term of profitability margins 11 EBITDA margins (%) Key Insights Median: 20.0% o Baladna achieved an EBITDA margin 33.3% 25.7% of 33.3% for the YTD Sep 2024, which 20.0% 21.7% 19.9% remains industry leading among 15.5% 10.4% regional peers KSA Peer 1 KSA Peer 2 KSA
Slide 12: Sustained revenue growth driven by strong performance across all key channels
Sustained revenue growth driven by strong performance across all key 12 12 channels Channel wise revenue contribution Growth by Channel YTD Sep 2024 YTD Sep 2024 vs YTD Sep 2023 Growth (in percentage) Growth (QAR) 21% HORECA 9.5% 24.0m Total revenue Retail-KA 8.0% 27.0m QAR 859m 34% 45% Retail-TT 8.
Slide 13: Outstanding revenue growth in all product categories
Outstanding revenue growth in all product categories 13 Revenue composition and growth (QARm) +12% +11% +6% 859 +5% 216 773 193 184 196 +13% +60% +7% +8% 127 +11% 121 +9% +5% +100% 85 75 64 60 56 53 52 35 39 34 14 15 5 3 5 0 % of total 25% 25% 24% 23% 16% 15% 7% 7% 6% 6% 5% 5% 10% 10% 2% 2% 1% 1% 0%
Slide 14: Effective cash flow management supporting dividend payout and growth
Effective cash flow management supporting dividend payout and 14 14 growth 16.3 6 1 20.2 1 (2.5) 1 pening alance pera ng cash ow or ing capital inance cost ape investments e t movements ividend thers losing alance e ore wor ing capital Cumulative balance 214 230 138 32 52 (82) (84) (84) Key Insights
Slide 15: Operations and Commercial Update
Operations and Commercial Update
Slide 16: Operational and Commercial Update
Operational and Commercial Update 16 Key Operational Highlights Sept 2024 Sept 2023 YoY growth Key Insights o Increase in dairy market share driven by a Overall Market Share 54.4% 52.7% 1.7% growth in sale volumes across the majority of dairy segments Source: Nielsen Market share reflects MAT 12 mon
Slide 17: Market Segmentation (1/3)
Operational and Commercial Update 17 Market Segmentation (1/3) Q3 2023 Q3 2024 Key Insights Fresh milk o Market share growth: +0.3% 95.9% 95.60% 95.90% o Retained strong #1 position Market Share UHT milk o Market share growth: +5.4% 92.0% 86.60% 92.00% o Retained strong #1 position Market Share Laba
Slide 18: Market Segmentation (2/3)
Operational and Commercial Update 18 Market Segmentation (2/3) Q3 2023 Q3 2024 Key Insights Yoghurt 48.1% 47.10% 48.10% o Market share growth: +1.0% o Retained strong #1 position Market Share Labneh o Market share growth: -1.7% 40.3% 42.00% 40.30% o Retained the market leadership Market Share Cheese
Slide 19: Market Segmentation (3/3)
Operational and Commercial Update 19 Market Segmentation (3/3) Q3 2023 Q3 2024 Key Insights Creams o Market share growth: +4.0% 63.4% 59.40% 63.40% o Retained strong #1 position Market share Juice o Market share growth: -1.3% 19.40% o Remains a significant growth opportunity 18.10% 18.1% Market shar
Slide 20: Introduction of new SKUs over YTD September 2024
Operational and Commercial Update 20 Introduction of 40 new SKUs over YTD September 2024 Key Insights o Baladna is constantly looking to enhance its product mix by introducing new products and augmenting its portfolio Juice re-launch o Over the course of YTD Sep 2024, Baladna has introduced 40 new p
Slide 21: Shareholder Information
Shareholder Information (7
Slide 22: Shareholder information
Shareholder information 22 As of September 30, 2024 General information YTD Share price performance versus QSE – Baladna performed better than market Company name Baladna Q.P.S.C. 1.500 Ticker (QE) BLDN 1.450 1.400 Market cap QAR 2.6b 1.350 11.5% Common shares 1.360 1.300 outstanding 1.9b 1.250 1.22
Slide 23: Management Outlook Q4 2024
Management Outlook Q4 2024
Slide 24: Management Outlook for Q4 2024
Management Outlook for Q4 2024 24 Product Development • Focus on product innovation and introducing new products to capture greater market share • Commitment to delivering product quality and adapting to consumer preferences • Prioritizing national food security and business diversification Market E
Slide 25: Appendix
Appendix
Slide 26: Profit and loss statement – YTD September 2024
Appendix 26 Profit and loss statement – YTD September 2024 QAR m YTD Sep 2024 YTD Sep 2023 Change Revenue 859.0 100% 772.6 100% 11% Cost of revenue (657.3) -77% (623.5) -81% 5% Gross profit 201.7 23% 149.1 19% 35% Other income 83.5 10% 87.8 11% -5% Gain from Investment Securities 18.4 2% 2.3 0% 686%
Slide 27: Profit and loss statement – Q3 2024
Appendix 27 Profit and loss statement – Q3 2024 QAR m Q3 2024 Q3 2023 Change Revenue 264.4 100% 255.9 100% 3% Cost of revenue (205.1) -78% (208.9) -82% -2% Gross profit 59.3 22% 47.1 18% 26% Other income 27.7 10% 28.9 11% -4% Gain from Investment Securities 8.6 3% 0.2 0% 4995% Dividend income - 0% -
Slide 28: Financial position as at September 30, 2024
Appendix 28 Financial position as at September 30, 2024 Total assets Total shareholders’ equity (QAR million) and liabilities (QAR million) Sep-24 Dec-23 Growth Sep-24 Dec-23 Growth Fixed Assets 3,175 3,189 0% Islamic financing 1,745 1,721 1% Biological Assets 178 196 -10% Other Non-Current Liabilit
Slide 29: Company Profile
Appendix 29 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 Esta lished in 2014, Baladna is Qatar’s leading dairy and everage company, with a diversified product offering, worl
Slide 30: BoD Members
Appendix BoD Members 30 Moutaz Al-Khayyat Ali Hilal Al-Kuwari Ramez Al-Khayyat Abdulaziz Mahmoud Al-Zeyara Group Chairman Vice Chairman Board Member/ Managing Director Board Member Hamad Bin Abdullah Bin Mazen Alsbeti Aidan Tynan Khalid Al-Attiya Board Member Independent Board Member Board Member
Slide 31: Senior Management Team
Appendix Senior Management Team 31 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
Slide 32: Glossary
Appendix 32 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
Slide 33: Q&A
Q&A
Slide 34: Thank You
THANK YOU “& BALADNA®