27 slides from Abu Dhabi National Oil Company For Distribution's earnings presentation, Feb 15, 2021
Slide 1: Q4 & FY 2020 Results Presentation
ADNOC Classification: Public Q4 & FY 2020 RESULTS PRESENTATION INVESTOR & ANALYST CONFERENCE CALL 15 FEBRUARY 2021 ADNOC DISTRIBUTION ADNOC Distribution
Slide 2: Agenda
ADNOC Classification: Public AGENDA 01 EXECUTIVE SUMMARY 02 STRATEGY UPDATE 03 Q4 & FY 2020 RESULTS 04 OUTLOOK 2 ADNOC DISTRIBUTION | Q4 & FY 2020 RESULTS
Slide 3: Disclaimer
ADNOC Classification: Public DISCLAIMER This communication includes forward-looking statements which relate to, among other things, our plans, objectives, goals, strategies, future operational performance and anticipated developments in markets in which operate and in which we may operate in the fut
Slide 4: Executive Summary
01 EXECUTIVE SUMMARY SPEAKER: ATHMANE BENZERROUG CHIEF INVESTOR RELATIONS OFFICER ADNOC Distribution
Slide 5: 2020 Key Highlights
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook 2020 KEY HIGHLIGHTS BUSINESS RESILIENCE AGILITY & SMART GROWTH ATTRACTIVE SHAREHOLDER RETURNS 2020 Fuel volumes recovered to c.90% of 2019 • Do
Slide 6: Growth Strategy Update
02 GROWTH STRATEGY UPDATE SPEAKER: AHMED AL SHAMSI ACTING CHIEF EXECUTIVE OFFICER ADNOC Distribution
Slide 7: Growth Strategy Overview
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook GROWTH STRATEGY OVERVIEW Exceeding on our promises by accelerating delivery of our strategic growth plans 100 20 64 1 4 7 11 37 2020 Signed 41
Slide 8: Key Strategic Update: Fuel Business
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook KEY STRATEGIC UPDATE Fuel Business (Retail & Commercial) 2020 ANNOUNCED GUIDANCE 2020 ACHIEVEMENTS • Deliver accelerated domestic network • 64
Slide 9: Key Strategic Update: KSA Growth
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook KEY STRATEGIC UPDATE KSA Growth • Acquisitions of 35 fuel stations for total purchase price of USD 25.5 million, taking total network in Saudi
Slide 10: Key Strategic Update: Non-Fuel Business
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook KEY STRATEGIC UPDATE Non-Fuel business (Retail) 2020 ANNOUNCED GUIDANCE 2020 ACHIEVEMENTS Improved Product Category Management • ~23% increase
Slide 11: Q4 & FY 2020 Results
03 Q4 & FY 2020 RESULTS SPEAKER: MOHAMED AL HASHIMI CHIEF FINANCIAL OFFICER ADNOC Distribution
Slide 12: Q4 & FY 2020 Financial Performance
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook Q4 & FY 2020 FINANCIAL PERFORMANCE Resilient underlying operating performance USDm Q4 2020 Q4 2019 YoY (%) 2020 2019 YoY (%) Revenue 1,129 1,47
Slide 13: Q4 & FY 2020 Operating Performance
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook Q4 & FY 2020 OPERATING PERFORMANCE mL Q4 2020 Q4 2019 YoY (%) 2020 2019 YoY (%) Retail (B2C) 1,563 1,705 -8.3% 5,758 6,525 -11.8% Commercial (B
Slide 14: Gross Profit by Segment
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook GROSS PROFIT BY SEGMENT USDm Q4 2020 Q4 2019 YoY (%) 2020 2019 YoY (%) Retail (B2C) 332 241 37.6% 1,189 927 28.3% Of which Fuel 299 201 48.6% 1
Slide 15: EBITDA by Segment
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook EBITDA BY SEGMENT USDm Q4 2020 Q4 2019 YoY (%) 2020 2019 YoY (%) Retail (B2C) 216 117 84.9% 698 491 42.1% Retail Margin 26.8% 11.4% 22.6% 12.4%
Slide 16: OPEX Update
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook OPEX UPDATE 2020 ANNOUNCED GUIDANCE 2020 TOTAL CASH OPEX ($665m) • Deliver additional like-for-like cost savings of up to Others1 USD25m in 202
Slide 17: Robust Cash Position
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook ROBUST CASH POSITION Net debt / EBITDA 0.26x USD 461m of net cash generated from 0.85x operating activities (470) 931 (266) 13 (61) (675) 1,288
Slide 18: Outlook
ADNOC Classification: Public 04 OUTLOOK SPEAKER: ATHMANE BENZERROUG CHIEF INVESTOR RELATIONS OFFICER ADNOC Distribution
Slide 19: 2021 Outlook & Strategic Priorities
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook 2021 OUTLOOK & STRATEGIC PRIORITIES 1 GROWTH MOMENTUM TO SUSTAIN IN 2021, UNLOCKING INCREMENTAL VALUE 70-80 NEW STATIONS 40-60 C-STORES REFURBI
Slide 20: Q&A
Q&A Ahmed Al Shamsi Mohamed Al Hashimi Athmane Benzerroug Acting Chief Executive Officer Chief Financial Officer Chief Investor Relations Officer ADNOC Distribution
Slide 21: Thank You
ADNOC DISTRIBUTION Q4 & FY 2020 RESULTS PRESENTATION INVESTOR AND ANALYST CONFERENCE CALL 15 FEBRUARY 2020 IR@ADNOCDISTRIBUTION.AE THANK YOU ADNOC Distribution
Slide 22: Appendix
ADNOC Classification: Public 05 APPENDIX ADNOC Distribution
Slide 23: ADNOC Distribution Unique Value Proposition
ADNOC Classification: Public ADNOC DISTRIBUTION UNIQUE VALUE PROPOSITION Executing a focused, deliverable EBITDA profile to exceed USD 1bn by 2023 Ambitious domestic growth expansion programme via fuel and non-fuel initiatives, and crystalizing upside from international growth Accelerated digital st
Slide 24: COVID-19 Response
ADNOC Classification: Public COVID-19 RESPONSE We are focused on ensuring uninterrupted services to customers and healthcare sector and the safety of employees, customers and local communities. We responded swiftly to the evolving environment by accelerating our e-commerce strategy and launching new
Slide 25: ADNOC Distribution in Numbers – 2020
ADNOC Classification: Public ADNOC DISTRIBUTION IN NUMBERS – 2020 8.7 billion liters 445 Retail Fuel sites +100 Total Fuel Volume Online Network in the UAE Participating C-Stores Forbes Middle East Retail Brand 136 million 2 $7.7 Fuel Transactions Retail Fuel sites Average Gross in Saudi Arabia Bask
Slide 26: Distribution Business Overview
ADNOC Classification: Public ADNOC DISTRIBUTION BUSINESS OVERVIEW Retail (B2C) Commercial (B2B) Non-Fuel Retail Fuel Retail Convenience Lube Vehicle Property Corporate Aviation Car wash Stores Change inspection Management FY2020 Fuel Volume Split FY2020 Gross Profit Split Unallocated FY2020 EBITDA S
Slide 27: Key Strategic Update: KSA Opportunity
ADNOC Classification: Public Executive Summary Growth Strategy Update Strategy Update – Fuel Strategy Update – None-Fuel Q4 & 2020 Financial Results Outlook KEY STRATEGIC UPDATE KSA Opportunity Largest fuel market in GCC offering significant growth potential Large Fuel Market… KSA fuel market is 4x