National Agricultural Development Co. · TADAWUL:6010
National Agricultural Development — Q1 2024 Earnings Presentation
14 slides from National Agricultural Development's earnings presentation, Mar 31, 2024
Slide 1: Investors Presentation for the Period Ended 31 March 2024
Investors Presentation for the Period Ended 31 March 2024
Slide 2: Progress on Strategy Front
] Progress on Strategy Front JV with UFC Dairy & Bev. Market Share Livestock Project specialized in Sheep & Goats Increase in Market share in Core Segment Wheat Capacity Increase in Capacity through Own & Contract Farming Contracts nadec Arabian Mill Shareholding Increase in share holding to 14.8% R
Slide 3: Red Meat Journey so far
| Red Meat Journey so far.. > Announced a JV with UFC for Sheep & Goats Breeding & Processing > 2900 Tons of Meat Sold > 62 Mn Revenue > 40 Product Varieties > 30 Key Customers across channels > An Own Slaughterhouse is in Construction
Slide 4: Financial Highlights
] Financial Highlights Revenue by Segments 49,6% 858Mn 15, 36, 2% 4% Q1 2024 Miksa i Gcc +14.4% @ Exports I Protein 9, 749Mn 0, Q1 2023 I Agriculture Gross Profit Q1'24 Q1'23 278 Operating Profit aQt24 Q1'23 Net Income Q1'24 Q1'23 38 +16.0% 323 A 168.7% 101.3 Gross Profit Margin Q1'24 Q1'23 Operatin
Slide 5: Balance Sheet
Balance Sheet March 24 FY23 Total Assets: SAR 5,483 Mn Total Assets: SAR 5,110 Mn 26% Assets Equity & Assets Equity & Liabilities Liabilities Other-Current Assets [ll Cash & Cash Equivalents HE Non-Current Assets Inventories ll Receivables & Prepayments Equity @ Non-Current Liabilities MI Current Li
Slide 6: Cashflow Bridge
Cashflow Bridge SAR Million +205 Mn 201 5 61 1,540 — a 14 1,335 ie 2 7 Bank Net cash Purchase of assets Interest Proceeds from Rights issue (Repayment) Cash used Bank Bal. Dec from oper. incl. biological, net term deposits ‘expense of loans/ in other fin. Bal. Mar "23" of proceeds (Maturity > new lo
Slide 7: Working Capital
Working Capital eo nadec SAR Million 18% 17% som 15% 15% 9% 501 402 380 402 213 2019 2020 2021 2022 2023 YTD Mar '24 ——% of Revenue 2019 2020 2021 2022 2023 YTD Mar 24 Days of Inventory outstanding (DIO) 145 124 101 100 102 97 Days of Sales outstanding (DSO) 108 103 100 111 83 110 Days of Payable ou
Slide 8: Debt and EBITDA/EBIT Margins Trend
Debt and EBITDA/ EBIT Margins Trend eo SAR Million 11% ° 0.62x 0.36x 2018 2019 2020 2021 2022 2023 YTD Mar 2018 2019 2020 2021 2022 2023 YTD Mar "24 "24 mmmDebt ——Debt/ Equity ——Debt/ EBITDA mmm Revenue ——EBITDAMargin ——EBIT Margin * Net debt includes loans minus the Cash and Cash equivalents Privat
Slide 9: Debt Maturity Profile - Average debt tenure at 2.5 Years
] Debt Maturity Profile - Average debt tenure at 2.5 Years SAR Million 55 296 [2] Upto 1 Yr 1-5 Yrs >5 Yrs m Banks ™Govt Borrowings 438 383 373 376 m™ Mar '2024 = 2023 55 mg: Islamic Banking Loans from SIDF & Total Facilities (Murabaha) ADF Private and Confidential
Slide 10: Appendix
Appendix Private and Confidential 10
Slide 11: Income Statement
] Income Statement co nadec SAR million Pica item ai ai] Revenue from Operations 858 749 Cost of Good Sold (535) (471) Gross Profit 323 278 Selling General & Admin Exp. (213) (174) Other Operating Expenses’ (13) (47) Operating Profit 97 57 Finance Cost 12 (17) Share of Profit in JV 9 - PBT 118 40 Za
Slide 12: Summarized Balance Sheet
] Summarized Balance Sheet ea nadec SAR million Non-Current Assets 2,675 2,695 Current Assets 2,808 2,415 Total Assets 5,483 5,110 Non-Current Liabilities 264 285 Current Liabilities 1,525 1,232 1,789 1,517 Shareholders’ Equity 3,694 3,593 Total Shareholders’ Equity and Liabilities 5,483 5,110 Priva
Slide 13: Cash Flow Statement
] Cash Flow Statement (dey) nadec SAR million Net Profit/ (Loss) 118 40 Adjustment for Non-Cash and Non-operating Items 76 135 Cash Operating Profit 194 4175 Changes in working capital 14 (38) Zakat Paid 7 * Employee Benefits Paid (8) (8) Cash Flow from Operating Activities 201 129 Acquisition of PP
Slide 14: 38. ee 8/8 @’.
38. 3 ee 5 8/8 @’.
National Agricultural Development Co. (NADEC) — Q1 2024 Earnings Presentation on 6ix