Mezzan Holding Company Kscc · KSE:MEZZAN

Mezzan Holding Company Kscc — Mezzan Holding Company — Q1 2021 Earnings Presentation

17 slides from Mezzan Holding Company Kscc's earnings presentation, May 17, 2021

  1. Slide 1: Q1 2021 Earnings Presentation

    Q1 2021 Earnings Presentation May 17, 2021 1

  2. Slide 2: Disclaimer

    Disclaimer This con dential document is provided for informational purposes only. THE INFORMATION SET OUT IN THIS PRESENTATION AND PROVIDED IN THE DISCUSSION SUBSEQUENT THERETO DOES NOT CONSTITUTE AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL SECURITIES IN ANY JURISDICTION. IT IS SOLELY FOR US

  3. Slide 3: Agenda

    Agenda Tailwinds & Headwinds Q1 2021 Highlights Historical Performance Financial Review Q&A 3

  4. Slide 4: Mezzan Today: Tailwinds

    Mezzan Today: Tailwinds ➜ ➜ ➜ Continued progress in our core brands ➜ Good Cash management continues ➜ KLOC refinery now operational ➜ ➜ ➜➜ ➜ ➜ 4

  5. Slide 5: Mezzan Today: Headwinds

    Mezzan Today: Headwinds ➜ ➜ ➜ Annualizing against the panic buying at the start of Covid Troop withdrawals ➜ ➜ Annualizing against quarantine meals in Kuwait last year ➜ ➜ Lockdowns and restrictions continue to cause turbulence ➜➜ ➜ ➜ 5

  6. Slide 6: Mezzan Today: Earnings Highlights

    Mezzan Today: Earnings Highlights KD Millions 1Q21 1Q20 Q1 EBITDA (2018-2021) % Diff KD Millions Q1 Revenue 73.4 74.4 -1.4% Gross Pro t 16.2 16.6 -2.5% 8.6 8.7 7.9 7.2 EBITDA 8.7 8.6 +1.0% Net Income 5.6 5.2 +8.0% Net Pro t 5.0 4.6 +6.8% Attributable to Equity Holders of Parent Company 2018 2019 202

  7. Slide 7: Mezzan Today: Historical Performance

    Mezzan Today: Historical Performance KD Millions Q1 Revenue Q1 Gross Profit Q1 Net Profit Net Profit to Parent 74.4 73.4 16.6 16.2 5.0 5.1 5.0 14.5 4.6 62.6 13.4 58.8 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 -1.39% (-KWD 1.04mn) -2.45% (-KWD 0.41mn) +6.8% (+KWD 0.315mn) Food group

  8. Slide 8: Financial Review

    Financial Review 8

  9. Slide 9: Q1'2021 Revenue: Contribution by Business Line

    Q1’2021 Revenue: Contribution by Business Line FOOD REVENUE -3.6% NON-FOOD REVENUE +2.2% Vs. Q1’20 Vs. Q1’20 60.8% Share of of total Group 39.2% Share of of total Group Revenue Revenue 9

  10. Slide 10: Q1'2021 Revenue: Growth by Business Division

    Q1’2021 Revenue: Growth by Business Division Vs.Q1’20 Manufacturing FOOD &Distribution 46.0% of Group revenue +2.0% -3.6% Catering 10.0% of Group revenue -15.6% -1.4% Services 4.8% of Group revenue -21.1% NON-FOOD FMCG & +2.2% Healthcare 37.3% of Group revenue +1.5% Industrials 1.9% of Group revenue

  11. Slide 11: Q1'2021 Revenue: Contribution and Growth by Country

    Q1’2021 Revenue: Contribution and Growth by Country Top-line Contribution Vs.Q1’20 Kuwait UAE Qatar KSA Jordan Afghanistan Iraq 78% 10% 6.1% 2% 2.4% 0.9% 0.7% +0.6% +3.6% -18.1% +15.6% +16.5% -57.3% -33.1% 11

  12. Slide 12: Q1'2021: P&L

    Q1’2021: P&L KD Millions Q1’21 Q1’20 % Diff Revenue 73.4 74.4 -1.4% Gross Margin 16.2 16.6 -2.5% GM % 22.1% 22.3% SG&A / Other -9.8 -10.2 -4.5% Operating Pro t 6.4 6.4 +0.9% Other -0.6 -1.0 -37.8% Underlying Pro t before Tax 5.8 5.4 +8.2% Tax -0.2 -0.2 -11.2% Underlying Net Pro t 5.6 5.2 +8.0% NP %

  13. Slide 13: Q1'2021: Cashflow

    Q1’2021: CASHFLOW KD Millions Q1’21 Q1’20 Diff Operating Cash Flow before WC changes 9.2 9.2 -0.1 Working Capital -2.6 -3.8 +1.2 Operating Cash Flow 6.6 5.4 +1.2 CAPEX / Other investing activities -1.5 -2.0 +0.5 Cash Flow before nancing 5.1 3.3 +1.7 Dividends & purchase of treasury shares -0.2 0.0 -

  14. Slide 14: Balance Sheet as of March 31, 2021

    Balance Sheet as of March 31, 2021 KD Millions Total Assets Equity Net Debt +% Net Debt to Capitalization KD Millions KD Millions KD Millions % Growth from previous period driven by acquisition and growth 276.9 73.0 38.0% 267.6 120.7 123.3 115.5 118.9 221.2 225.4 28.6% 28.6% 49.5 45.9 22.2% 34.5 201

  15. Slide 15: A note on debt levels

    A note on debt levels KD Millions Net Debt stood at c. KWD 49.5 mn, down by c. KWD 23.5 mn from Mar 2020 levels. Quarterly Net Debt / EBITDA: 5.7x, down by 2.8x vs. Mar 2020 12-Month Net Debt / EBITDA: 1.9x, down by 1.9x Vs Mar 2020 Aug. 2019: KSPICO Acquisition - c.KWD20 mn July 2019: Medtronics an

  16. Slide 16: Q&A

    Q&A 16

  17. Slide 17: Investor Relations Contact

    Investor Relations Contact Omar Foud Investor Relations Manager omar.fouda@mezzan.com 17 a

Mezzan Holding Company — Q1 2021 Earnings Presentation on 6ix