Alamar Foods Co. · TADAWUL:6014
Alamar Foods — Q1 2025 Earnings Presentation
19 slides from Alamar Foods's earnings presentation, May 13, 2025
Slide 1: Earnings Presentation Q1 2025
Earnings Presentation Q1 2025
Slide 2: Agenda for today's Earnings Call
Agenda for today’s Earnings Call • Q1 2025 Sales and Performance Highlights • Alamar at a Glance • Transformation Update • Financial Performance 13 May 2025 2
Slide 3: Q1 2025 Sales and Performance Highlights
Earnings Presentation – 13 May 2025 Q1 2025 Sales and Performance Highlights
Slide 4: Q1'25 confirmed our ability to turn top-line recovery into bottom-line strength
Q1’25 confirmed our ability to turn top-line recovery into bottom-line strength while reinforcing key business pillars +8.8 % +5.0 % 6.3% +5 YoY sales growth at YoY sales growth at Adjusted EBITDA Net new corporate constant FX constant FX margin store openings on a comparable basis during the quarte
Slide 5: Normalized sales are on a sustainable recovery track
Normalized sales are on a sustainable recovery track Q1 2024 Q1 2025 Q3-Q4 2025 Comment vs. Q1 2023 vs. Q1 2023 vs. Q3 2023 • On a comparable calendar basis, our sales are still 10% below 2023, showing recovery is ongoing but not yet complete. Revenue growth In line with • We saw YoY growth return i
Slide 6: Alamar at a Glance
Earnings Presentation – 13 May 2025 Alamar at a Glance
Slide 7: Leading QSR player in MENA region, backed by strong brands
Leading QSR player in MENA region, backed by strong brands Number of restaurants by brand 93% 5% 627 639 643 62 65 67 601 56 Domino’s as % of Q1 Dunkin as % of 2025 revenue1 Q1 2025 revenue1 2022 2023 2024 Q1 2025 2022 2023 2024 Q1 2025 • Top-line performance in Q1 2025 was supported by the company’
Slide 8: Advanced digital capabilities, capex-light expansion model and solid cash generation
…with advanced digital capabilities, capex-light expansion model and solid cash generation Alamar is leveraging omni-channel ordering and multiple service methods to … and is well positioned to … supported by strong digital address evolving consumer preferences… benefit from major trends in its and
Slide 9: Transformation Update
Earnings Presentation – 13 May 2025 Transformation Update
Slide 10: Update on initiatives to accelerate growth, bolster margins and enhance customer experience
Update on initiatives to accelerate growth, bolster margins and enhance customer experience New stores Execution of the store opening program, focused on attractive ROI and payback, resumed. 5 corporate stores opened in Q1 2025 and another 40+ new corporate stores are planned for the rest of the yea
Slide 11: Financial Performance
Earnings Presentation – 13 May 2025 Financial Performance
Slide 12: Q1 2025 financial highlights
Q1 2025 financial highlights 211mn 55mn 13mn (2)mn SAR SAR SAR SAR Revenues Gross Profit Adj. EBITDA Net Profit +2% YOY +9% YOY +31% YOY (0.3)mn 12mn 8mn 78mn SAR SAR SAR SAR Adj. Net Profit OCF FCF Net Cash -62% YOY -66% YOY -17% YTD 13 May 2025 12
Slide 13: Total store count reached 710 restaurants as of March 2025, up 2.7% YoY
Total store count reached 710 restaurants as of March 2025, up 2.7% YoY Group Store Count by Region Q1 2025 Group Store Count by Brand +8 +6 +4 +1 Brand Q1 24 Q1 25 YoY Change 281 289 167 168 120 126 123 127 Domino’s 628 643 +15 Dunkin’ 63 67 +4 Corporate KSA Corporate GCC & Corporate NA Non-corpora
Slide 14: Revenue grew year-on-year in Q1 2025 despite calendar headwinds
Revenue grew year-on-year in Q1 2025 despite calendar headwinds, with KSA returning to growth Revenues (SAR mn) Q1 2025 +2% Share of Q1 2025 226.4 229.0 229.2 211.1 revenue 206.9 in stable currency 88% +9% +1% +0% -8% Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Total Revenue Movement by Geography YoY (SAR mn) Q1
Slide 15: Leverage on a leaner cost base converted revenue growth into higher EBITDA and margin expansion
Leverage on a leaner cost base converted revenue growth into higher EBITDA and margin expansion Adj. EBITDA Margin (%) Q1 2025 +1.4pp 11.9% 12.7% 12.8% Marketing initiatives A more agile cost base Gross margin gains Margin held firm supported sales; cost and efficiency gains offset increased 6.3% 4.
Slide 16: Flow-through carried into earnings, driving YoY improvement
Flow-through carried into earnings, driving YoY improvement Q1 2025 EBITDA reconciliation Net Profit (SAR mn) (SAR mn) Q1 2025 20.7 19.2 Net Income (1.8) 12.9 (1.8) Finance cost, net 2.4 Zakat and income tax 2.5 Depreciation & amortization 28.3 (17.7) Reported EBITDA (IFRS 16) 31.4 Q1 24 Q2 24 Q3 24
Slide 17: Strong balance sheet supports consistent dividends
Strong balance sheet supports consistent dividends, with sales recovery set to strengthen cash Cash flow performance and balance sheet Cash & Cash Equivalents Movement YTD (SAR mn) Q1 2025 • Operating cash flow* fell 62% YoY to SAR 11.9 million, due to working capital movements. 11.9 • Capital spend
Slide 18: Monthly sales performance shows positive momentum carried into 2025
Monthly sales performance shows positive momentum carried into 2025 Average daily sales - Group (January 2023 = 100%) Ramadan Summer break Ramadan Summer break Ramadan 2023 2023 2024 2024 2025 105 108 107 100 99 98 99 98 92 94 93 95 89 91 90 88 89 89 86 86 87 86 82 81 83 84 83 70 66 JAN FEB MAR APR
Slide 19: Questions & Answers
Questions & Answers ZA