Slide 1: Mutandis H1 2020 Results
MUTANDIS H1 2020 RESULTS September 7th, 2020
Slide 2: Disclaimer
DISCLAIMER Certain information included in this document has been prepared by the company, and has not been verified or audited by independant sources. This presentation contains also forecasts based on opinions and present assumptions related to future events. These forecasts reflect projections an
Slide 3: Agenda
AGENDA 1 | Our immediate priorities 2 | Our decisions during the health crisis 3 | H1 2020 highlights 4 | H1 2020 consolidated financial results 5| 2020 outlook 6 | 2020 Corporate calendar Septembre 2020| 3
Slide 4: Our immediate priorities
1 OUR IMMEDIATE PRIORITES Septembre 2020| 4
Slide 5: Our immediate priorities
OUR IMMEDIATE PRIORITIES To tackle the health crisis Ensure protection and safety to Mutandis employees and clients ; Make sure we able to supply the market with adequate quantities of bleach and similar to preserve health and hygiene inside and outside homes ; Protect jobs in the group ; Mo
Slide 6: Our decisions during the health crisis
2 OUR DECISIONS DURING THE HEALTH CRISIS Septembre 2020| 6
Slide 7: Our decisions during the health crisis
OUR DECISIONS During the health crisis Despite the unprecedented crisis context, we decided to: Pursue the investments according to the annual budget ; Maintain/ increase marketing effort during this favourable period of lower media rates ; Continue investments in our sales fleet ; Maintain
Slide 8: H1 2020 highlights
3 H1 2020 HIGHLIGHTS Septembre 2020| 8
Slide 9: H1 2020: What should you keep in mind?
H1 2020: WHAT SHOULD YOU KEEP IN MIND? Stability and resilience within an unprecedented health crisis Overall flat first half vs 2019 despite the health crisis ; The company shows strong resilience despite the unprecedented health crisis context, thanks to its diversified consumer goods portfoli
Slide 10: H1 2020 consolidated financial results
4 H1 2020 CONSOLIDATED FINANCIAL RESULTS Septembre 2020| 10
Slide 11: Financial snapshot: key messages
F I N A N C I A L SN A PS H OT FINANCIAL KEY MESSAGES First half flat despite the health crisis Revenues EBITDA In MAD million In MAD million H1 2020 683 H1 2020 105 0% -1% H1 2019 684 H1 2019 105 Recurring net income Net Income In MAD million In MAD million H1 2020 37 H1 2020 33 -11% -12% H1 2019 4
Slide 12: Financial indicators: a historical perspective
FINANCIAL INDICATORS A historical perspective H1 revenues growth H1 EBITDA growth In MAD million In MAD million 15% 15% 15% 14% 12% +6,4% -0,1% +10,3% -0,6% +4,3% 684 683 +24,0% 105 105 642 95 616 88 71 H1 2017 H1 2018 H1 2019 H1 2020 H1 2017 H1 2018 H1 2018 H1 2019 H1 2020 Proforma IFRS16 EBITDA ma
Slide 13: Financial indicators: revenues focus
FINANCIAL INDICATORS Revenues focus H1 consolidated revenues breakdown In MAD million 0% H1 2020 consolidated revenues are MAD 684 683 683 million, stable vs H1 2019 ; Detergents and seafood higher revenues 306 31 338 offset fruit juice and beverage bottles’ decline ; H1 revenues usually repre
Slide 14: Financial indicators: H1 consolidated EBITDA breakdown
FINANCIAL INDICATORS H1 consolidated EBITDA breakdown H1 consolidated EBITDA breakdown In MAD million -1% H1 consolidated EBITDA is MAD 105 million, 105 105 stable vs H1 2019 ; Higher margin on variable costs on almost all 58 11 categories thanks to : 69 lower prices of certain raw materials a
Slide 15: Financial indicators: recurring net income
FINANCIAL INDICATORS Recurring Net Income In MAD million -11% 41 H1 2020 Recurring Net Income : MAD 37 million (-11%) -0,6 -4,7 37 +1 Stable EBITDA; Higher amortization expenses due to development programs started in 2019 and pursued in 2020 ; Stable financial costs. H1 2019 EBITDA Amortizatio
Slide 16: Results by category: Detergents
RESULTS BY CATEGORY Detergents In MAD million In MAD H1 2019 H1 2020 % million Revenues 306,3 337,7 +10% EBITDA 57,8 68,8 +19% Our own brands' revenues show a steady growth (up +11% VS H1 2019), pulled by Maxis' bleach (+65%) and Magix hand powder (+7%), despite the closure of groceries and souks
Slide 17: Results by category: Seafood
RESULTS BY CATEGORY Seafood In MAD million In MAD H1 2019 H1 2020 % million Revenues 212,0 224,9 +6% EBITDA 18,9 19,2 +2% Repeated production instability due to the lockdown of coastal fishermen and the social distancing measures taken inside factories ; Higher sardine cans sales (+5% Vs H1 2019
Slide 18: Results by category: Beverage bottles
RESULTS BY CATEGORY Beverage bottles In MAD million In MAD H1 2019 H1 2020 % million Revenues 128,7 85,3 -34% EBITDA 29,2 17,9 -39% Bottles and caps volumes are sharply down (-20%), mainly due to the health lockdown and the closure of hotels, coffee shops and restaurants (no out of home consumptio
Slide 19: Results by category: Fruit juice
RESULTS BY CATEGORY Fruit juice In MAD million In MAD H1 2019 H1 2020 % million Revenues 35,2 33,9 -4% EBITDA 3,7 3,4 -8% Strong growth in the first quarter, but the closure of hotels, restaurants and coffee shops highly impacted the second quarter sales. Schools closure also negatively impacted V
Slide 20: 2020 Outlook
i] MUTANDIS 5 | OUTLOOK tg MUTANDIS Septembre 2020] 20 EERE Acccitrateur de marques
Slide 21: 2020 Outlook: Guidance
2020 OUTLOOK Guidance The management team confirms the guidance of May 4th 2020 (publication of quarterly indicators), and expects 2020 financial indicators to be similar to 2019 within a range of +/- 5%. This forecast does not include a significant deterioration of the health crisis. Septembre
Slide 22: Products' launch 2019-2020
PRODUCTS’ LAUNCH 2019-2020 Feb 2018 Apr 2018 Nov 2018 Feb 2020 New juice Marine skinless Vita kids Marrakech Pulp range boneless Septembre 2020| 22
Slide 23: Development projects 2020-2023
DEVELOPMENT PROJECTS 2020-2023 H1 2021 H2 2021 H1 2022 H2 2022 Fish Personal Marrakech Fish byproduct care main- byproduct N°1 products stream N°2 France Septembre 2020| 23
Slide 24: 2020 Corporate calendar
6 2020 CORPORATE CALENDAR Septembre 2020| 24
Slide 25: 2020 Corporate calendar
2020 CORPORATE CALENDAR Key dates Nov. 14 • FY 2019 results Fev. 17 • Analysts conference Fev. 02 • General Meeting Avr. 04 Mai. • Q1 2020 financial KPI 20 July. • Dividend paid 28 • Q2 2020 financial KPI Août. 07 • H1 2020 results and analysts conference sept. 05 • Q3 2020 financial KPI Nov. Septem