Podravka D.d. · ZSE:PODR

Podravka D.d — Podravka Group — Investor Presentation (October 2024)

38 slides from Podravka D.d's investor presentation, Oct 9, 2024

  1. Slide 1: Podravka Group

    Podravka Group PodravkaY The Finest CEElection, October 9th 2024 GRUPA

  2. Slide 2: The Company, Investment highlights, 2023 results, 1H 2024 results

    Pod ravka? GRUPA The Company Investment highlights 2023 results 1H 2024 results

  3. Slide 3: Podravka Group at a glance

    Podravka Group at a glance 77 years of experience in Food 52 years of experience in segment Pharmaceutical segment Today, Podravka Group Sales revenues in 2023 Portfolio with more than : ; has its companies 713.8 1,800 different products in 1 7 countries EURm More than 6. 1 oo employees More than 4.

  4. Slide 4: Long-standing tradition in the production of food and pharmaceutical products

    Long-standing tradition in the production of food and pharmaceutical products Podravia? 1947 Wolf brothers workshop became publicly owned under Podravka name (e)BELUPO Condiments, dried and sterilized vegetables, etc. production I 1957 Famous Podravka soups production established Production of ‘meat

  5. Slide 5: Market presence and distribution

    Market presence and distribution o Theleading food company in the Adria region o Strong presence in Central and Eastern Europe Own distribution Export to more than networkin 16 60 countries countries around the Pausrais Al world Podravia?

  6. Slide 6: Factories

    Factories Vegeta and soups factory — Koprivnica, Croatia Pasta factory — Koprivnica, Croatia e@ Baby food and cream spreads factory — Koprivnica, Croatia Mill — Koprivnica, Croatia Snacks factory — Koprivnica, Croatia Danica production — Koprivnica, Croatia Kalnik factory — Varazdin, Croatia Mirna f

  7. Slide 7: Institutional investors provide a stable ownership structure

    Institutional investors provide a stable ownership structure Management Board a ) 4 q CULES, > Vw a ha ma Ljiljana Sapina Davor Doko Martina Dalié Milan Tadié Ivan Ostojié MB member MBmember MBpresident MBmember MBmember Ownership structure as at 30 June 2024 and Supervisory Board President "Damir G

  8. Slide 8: 2023 revenues and EBITDA by segment

    2023 revenues EURm 2023 EBITDA EURm Food 554 Food 52 Pharma 160 Pharma 39 Group 714 Group 92

  9. Slide 9: Sales revenues by business units and categories

    Sales revenues by business units and categories in EURm 710,0 +4,1% 690,0 667,2 42 6700 = 667,2 650,0 Revenues BU Culinary 2022 Revenues LURm 105.47 Revenueshare 14.8% Podravia? +12,2% BU Soups 47.01 6.6% +9,2% 6765 BU Cereals, Snacks and Beverages 46.62 6.5% Food +3,8% +1,7% +4,9% +1,9% 43 07 13 23

  10. Slide 10: The Company, Investment highlights, 2023 results, 1H 2024 results

    Pod ravka? GRUPA The Company Investment highlights 2023 results 1H 2024 results

  11. Slide 11: Net debt/EBITDA and EBIT/interest expense 2014-1H 2024

    (in EURm) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1H 24 Value adjustments Severance payments Other Total net one-off items EBIT/Interest exp. Net debt/EBITDA 110 100,8 100 87,3 90 80 73,3 70 56,9 60 50 40 28,3 30 20,1 15,2 20 8,5 9,3 3,6 4,7 1,4 0,7 10 1,6 0,8 0,2 0,1 1,6 0 2,7 2,3 2,2 2,1

  12. Slide 12: Good results ensure a stable dividend

    Good results ensure a stable dividend Dividend and dividend yield" 3,50 3.2 100% 4.00 mmm dividend per share in EUR 9,0% dividend yield 8,0% 2,50 7.0% 2,00 6.0% 5.0% 1,50 40% 1,00 3.0% 2,0% 0,50 tox 0,00 00% 2016 2017. «2018 = 2019-2020. 2021S 2022S 20238-2024 Dividend policy of Podravka In = Podrav

  13. Slide 13: Investment cycle of the Podravka Group

    Investment cycle of the Podravka Group inEURm 100,0 90,0 80,0 70,0 68,9 60,0 52,6 50,0 40,0 30,0 22,4 20,0 10,0 0,0 2021 2022 2023 90,5 2024P The investment cycle of the Podravka Group is in full swing and is being implemented in accordance with the Podravka Group's Business Strategy until 2025. By

  14. Slide 14: The Company, Investment highlights, 2023 results, 1H 2024 results

    Pod ravka? GRUPA The Company Investment highlights 2023 results 1H 2024 results

  15. Slide 15: Sales revenues increase in both segments

    Sales revenues increase in both segments in EURm 714 800 700 600 500 667 Group PodravkaGroupin 1 - 12 20231: * Ownbrands > 6.0% higher sales, * Othersales > 15.9% higher revenues, * TotalPodravka Group 7.0% higher sales revenues. Sales revenues by segment Food Food segmentin 1 - 12 2023": + Own bran

  16. Slide 16: Sales revenues increase of almost all business units

    Sales revenues increase of almost all business units in EURm +15,9% +12,7% +13,8% 10,4 7138 +3,8% +1,7% (2,0%) 7100 5 +1,9% 9 +9,2% +4,9% 2% i +4,1% 43 07 (0,5) 690,0 39 2,3 13 — 5.1 — — 667.2 42 a 6700 — 650,0 Revenues 2022 BUCulinary BUSoups BUCereals, © BUCreamy | BUBakery BU Basicfood BU Meat BU

  17. Slide 17: Sales revenues growth of almost all regions

    Sales revenues growth of almost all regions Region's performancein 1 - 12 20231: + Markets of Croatia and Slovenia (+6.0%) > Food segment revenues are 6.4% higher, primarily Markets of Croatia and 7 a q a Slovenia 49,4% due to sales increase of the business units Basic food and Cereals, Snack and Be

  18. Slide 18: Food segment — higher revenues and normalized profitability

    Food segment — higher revenues and normalized profitability Food segmer REPORTED NORMALIZED" (in EURm) 2022 2023 A % 2022 2023 A % Sales revenue 522.2 553.6 31.5 6.0% 522.2 553.6 31.5 6.0% Gross profit 164.6 168.7 4.2 2.5% 164.6 168.7 4.2 2.5% EBITDA 61.7 52.5 (9.3) (15.0%) 51.2 52.5 1.3 2.5% EBIT 3

  19. Slide 19: Pharmaceutical segment - higher revenues and profitability

    Pharmaceutical segment - higher revenues and profitability Pharma segm REPORTED NORMALIZED" (in EURm) 2022 2023 A % 2022 2023 A % Sales revenue 145.0 160.2 15.2 10.5% 145.0 160.2 15.2 10.5% Gross profit 72.2 80.0 78 10.8% 72.2 80.0 78 10.8% EBITDA 32.1 StL) 7.3 22.9% 32.1 39.5 7A 22.9% EBIT 22.7 30.

  20. Slide 20: Podravka Group — higher revenues and normalized profitability from both segments

    Podravka Group — higher revenues and normalized profitability from both segments Podravka Group REPORTED NORMALIZED' (in EURm) 2022 2023 A % 2022 2023 A % Sales revenue 667.2 713.8 46.7 7.0% 667.2 713.8 46.7 7.0% Gross profit 236.7 248.7 12.0 5.1% 236.7 248.7 12.0 5.1% EBITDA 93.9 91.9 (1.9) (2.0%)

  21. Slide 21: Business expenses influenced by raw material, packaging and energy prices

    Business expenses influenced by price movements of raw materials, packaging and energy, and investments in improving the material status of employees Bu: Cost of goods sold (COGS) 8.1% General and administrative expenses (G&A) 6.6% Sales and distribution costs (S&D) (0.4%) Marketing expenses (MEX) (

  22. Slide 22: Continuous improvement of debt indicators

    Continuous improvement of debt indicators in EURm)' 2022 2023 Currency structure of debt as at 31 December 2023 Financial debt? 84.0 57.4 Cash and cash equivalents 21.9 42.5 C2K0,5% Net debt 62.1 14.9 BAM 2,4% Interest expense 0.7 0.7 Other 1,5% Net debt / normalized EBITDA 0.75 0.16 Normalized EBIT

  23. Slide 23: Net cash flow from operating activities as % of sales

    • • • 17,0% 16,0% 15,0% 14,0% 13,0% 12,0% 11,0% 10,0% • 1-12 2022 1-12 2023

  24. Slide 24: PODR vs CROBEX and CROBEX10 in 2023

    PODR CROBEX CROBEX10 100% 93,7% 80% 60% 40% 33,9% 28,0% 20% 0% 31.12.22 31.01.23 28.02.23 31.03.23 30.04.23 31.05.23 30.06.23 31.07.23 31.08.23 30.09.23 31.10.23 30.11.23 31.12.23

  25. Slide 25: The Company, Investment highlights, 2023 results, 1H 2024 results

    Pod ravka? GRUPA The Company Investment highlights 2023 results 1H 2024 results

  26. Slide 26: Key events in first half of 2024

    Podravka selected as buyer of Belje, Vupik and PIK Vinkovci, agricultural companies of the Fortenova Group. Opening of new Podravka pastry factory in Koprivnica and opening of new Tomato processing plant in Varaždin During the first half of 2024, investments in the amount of almost EUR 46m were real

  27. Slide 27: 1H 2024 sales revenues and normalized profit

    380.4 49.4 38.8 EUR million EUR million EUR million +9.9% +49.0% +49.2% Sales revenues Normalized Operating Normalized Net profit profit after MI Pharma segment 23,6% Food segment Pharma segment 76,4% 43,6% Food segment Pharma 56,4% segment Food segment 42,7% 57,3%

  28. Slide 28: Sales revenues increase in both segments

    Sales revenues increase in both segments in EURm Sales revenues by segment m1-62023 m1-62024 380 291 400 346 300 265 200 100 0 Group Food Pharma PodravkaGroupin 1 - 6 20241: Food segmentin 1 - 6 2024!: Pharmaceuticals segment in 1 - 6 20241: + Ownbrands > 8.9% higher sales, + Own brands > 8.3% highe

  29. Slide 29: Sales revenues increase of almost all business units

    Sales revenues increase of almost all business units in EURm 380.4 3800 +8.6% (10.4%) 3700 +10.1% 2.7 (2.9) 22 | el | — 360,0 — 350,0 346.3 340,0 Revenues 1H BU Culinary BU Soups. BU Cereals, BU Creamy BU Bakery BU Fruits and BU Basic food BU Meat BU Fish Prescription Non Other sales Revenues 1H 202

  30. Slide 30: Sales revenues growth of almost all regions

    Sales revenues growth of almost all regions Markets of Croatia and Eastern Europe Slovenia 46,7% 64% Central Europe 11,0% Western Europe and Overseas 14,1% Southeastern Europe 21,8% 7m) 1H 2023 1H 2024 Markets of Croatia and Slovenia 168.7 177.6 9.0 Southeastern Europe 75.5 83.1 7.6 Western Europe a

  31. Slide 31: Food segment — higher revenues and normalized profitability

    Food segment — higher revenues and normalized profitability Food segmer REPORTED NORMALIZED" (in EURm) 1H 2023 1H 2024 A % 1H 2023 1H 2024 A % Sales revenue 265.2 290.5 25.3 9.6% 265.2 290.5 25.3 9.6% Gross profit 82.1 102.6 20.5 25.0% 82.1 102.6 20.5 25.0% EBITDA 27.1 39.8 12.7 46.9% 27.8 40.0 12.3

  32. Slide 32: Pharmaceutical segment - higher revenues and profitability

    Pharmaceutical segment - higher revenues and profitability Pharma segm REPORTED NORMALIZED" (in EURm) 1H 2023 1H 2024 A % 1H 2023 1H 2024 A % Sales revenue 81.0 89.8 8.8 10.8% 81.0 89.8 8.8 10.8% Gross profit 40.1 46.3 6.2 15.4% 40.1 46.3 6.2 15.4% EBITDA 21.2 26.0 48 22.6% 21.2 26.0 48 22.6% EBIT 1

  33. Slide 33: Podravka Group — higher revenues and normalized profitability from both segments

    Podravka Group — higher revenues and normalized profitability from both segments Podravka Group REPORTED NORMALIZED' (in EURm) 1H 2023 1H 2024 A % 1H 2023 1H 2024 A % Sales revenue 346.3 380.4 34.1 9.9% 346.3 380.4 34.1 9.9% Gross profit 122.2 148.9 26.7 21.8% 122.2 148.9 26.7 21.8% EBITDA 48.3 65.8

  34. Slide 34: Business expenses influenced by investments in employees

    Business expenses influenced by investments in improving the material status of employees Business expenses 2024 vs. 1-6 2023 Key highlights of expensesin 1 - 6 2024: % change * Costof goods sold (COGS): Cost of goods sold (COGS) 3.3% tT 3.3% t + increased by EUR 7.5m (+3.3%) relative to the compara

  35. Slide 35: Continuous improvement of debt indicators

    Continuous improvement of debt indicators inEURm)' 2023 Financial debt? 57.4 Cash and cash equivalents 42.5 Net debt 14.9 Interest expense 0.68 Net debt / normalized EBITDA 0.16 Normalized EBIT / Interest expense 87.3 Equity to total assets ratio 73.9% Key highlights: = Financial debtincrease > due

  36. Slide 36: Net cash flow from operating activities as % of sales

    • • • Net cash flow from operating activities as % of sales 13,2% 13,03% 12,7% 12,2% 11,92% 11,7% 1-6 2023 1-6 2024 •

  37. Slide 37: PODR vs CROBEX and CROBEX10 in 2024

    PODR CROBEX CROBEX10 15% 11,7% 10% 9,5% 5% 0% -3,1% -5% -10% 31.12.23 31.01.24 29.02.24 31.03.24 30.04.24 31.05.24 30.06.24

  38. Slide 38: Contact

    Contact Podravka Inc. Ante Staréevica 32, 48 000 Koprivnica www.podravka.hr Investor Relations ir@podravka.hr 38

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