Almunajem Foods Company · TADAWUL:4162
Almunajem Foods — Q1 2024 Earnings Presentation
22 slides from Almunajem Foods's earnings presentation, May 27, 2024
Slide 1: Q1 2024 Earnings Presentation
Q1 2024 Earnings Presentation 27 May 2024
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by Almunajem Foods Company (the "Company") and the content therein has not been reviewed or approved by any regulatory or supervisory authority. This presentation contains financial information regarding the businesses and assets of the Company. Certain
Slide 3: Today's Agenda
Today’s Agenda : 1 About AMF 2 Financial Highlights 3 Financial Performance 4 Market Outlook 5 Operations & Growth Drivers 6 Question and Answer 3
Slide 4: Almunajem Foods Company
Flexible and asset light Almunajem Foods operating model Company Continues to be one of the Diversified Portfolio top Saudi food companies engaged in importing, marketing, distribution and production of leading brands Wide Coverage of frozen, chilled and dry food items. Experienced Management
Slide 5: Distributor of Key Brands
DISTRIBUTOR OF KEY BRANDS International Brands Owned Brands 5
Slide 6: Financial Highlights Q1' 2024
Financial Highlights Q1’ 2024 SOLID FINANCIAL STRONG CASH FLOW SHAREHOLDER VALUE RESULTS GENERATION CREATION Revenue Operating Cash Flow ROA 903 M 87 M 26.7% Gross Profit 196 M WC to Sales ROE Margin 21.7% 13.7% 43.8% Net Profit 114 M EPS ZERO DEBT Margin 12.6% 1.9 6
Slide 7: New Entrants
NEW ENTRANTS New products New products added under our owned brand “Dari “ are : ➢ Fresh Chicken ➢ Full range of Sea Food ➢ Acai
Slide 8: Our Rankings in Terms of Market Share (Retail)
OUR RANKINGS IN TERMS OF MARKET SHARE (RETAIL) Market Main Categories Sub-Categories Brands Ranking Share* ▪ Frozen Whole Chicken Doux 2 30.2% ▪ Chicken Franks 2 23.5% Red Al Anam 1 21.0% ▪ Frozen Minced & Dari 2 15% White Meat ▪ Frozen Breasts Doux 3 8% ▪ Chicken Strips Doux 2 16% Dari 1 44.0% ▪ Fr
Slide 9: Financial Performance Q1' 24
Financial Performance Q1’ 24
Slide 10: Financial Performance Q1' 2024 – Key Highlights
Financial Performance Q1' 2024 – Key Highlights Revenue (SAR’ M) Gross Profit (SAR’ M) Net Profit (SAR’ M) 920 0.1% 0.0012 250 24.0% 12.6% 120 14.0% 21.7% 900 0.001 22.0% 902 903 200 114 12.0% 100 9.1% 9.8% 880 18.9% 196 20.0% 0.0008 17.3% 10.0% 150 80 860 156 156 18.0% 82 82 0.0006 8.0% 840 60 100
Slide 11: Revenue (Q1' 2024) – Analysis
Revenue (Q1' 2024) – Analysis Figures are compared to Q1’ 23 Sales Volume - Growth Sales’ Value – Growth by Major Categories Sales’ Value – Growth by Channels 80,000 9.7% 15.0% 79,000 Red & White Meets Wholesale 10.0% 78,000 77,000 5.0% Fruits & Vegetables 76,000 0.0% Retail 75,000 -5.3% Dairy -5.0%
Slide 12: Net Income Bridge – Q1' 2024
Net Income Bridge – Q1' 2024 Figures in SR’ M ❖ Q1’ 2024 net income higher Vs. same period last year due to increase in selling prices, despite of dip in sales volumes. 12
Slide 13: Prudent Financial Management
Prudent Financial Management NON-CURRENT ASSETS CURRENT ASSETS Equity Non-current Liabilities Current Liabilities Ratio Mar 2024 Mar 2023 Return on Equity % 43.8% 33.3% 84 87 Profitability 451 Return on Assets % 26.7% 19.9% 581 610 Trade receivables Days of Sales 35.2 39.1 1,338 Activity Inventory D
Slide 14: Net Working Capital (2019 – Q1' 2024)
Net Working Capital (2019 –Q1' 2024) 600 19.6% 18.7% Figures SAR’M 19.0% 18.0% 18.2% 558 500 498 496 469 17.0% 460 400 436 15.0% 300 13.9% 13.7% 13.0% 200 100 11.0% 0 9.0% 2019 2020 2021 2022 2023 Q1' 2024 Working Capital Working Capital To Revenues ❖ Efficiently managed Working Capital. The working
Slide 15: CAPEX (2019 – Q1' 2024)
CAPEX (2019 – Q1' 2023) 35.0 1.8% 2.0% 1.3% 32.5 1.5% 30.0 1.1% 0.7% 0.5% 0.7% 1.0% 25.0 27.0 0.5% 24.0 20.0 0.0% 18.9 15.0 -0.5% 16 14.3 -1.0% 10.0 -1.5% 5.0 -2.0% 0.0 -2.5% 2019 2020 2021 2022 2023 Q1' 2024 CAPEX % Revenues ❖ 5Y average CAPEX – SAR 23M and ranges between 0.5% to 1.3% of revenue 15
Slide 16: Cash Flow Q1' 2024
CASH FLOW Q1' 2024 Free Cash Flow SR’ M 120 100 107 80 60 71 40 20 0 Q1'23 Q1'24 Note: FCF calculation excludes investment in associate. 16
Slide 17: Market Outlook
@ poo)! ALMUNAJEM Foods asciU MARKET OUTLOOK
Slide 18: 2024 Global Market Environment - Expectation
2024 GLOBAL MARKET ENVIRONMENT - EXPECTATION Economic Outlook • Q1 2024 KSA real GDP dropped by 1.8% YOY however compared to Q4 2023 it increased by 1.9%. • Oil activities were down 10.6% in the first quarter compared with the previous year, estimates from the General Authority for Statistics showed
Slide 19: Update on: Operations, Growth Drivers
UPDATE ON: • OPERATIONS • GROWTH DRIVERS
Slide 20: Operations & Growth Drivers
OPERATIONS & GROWTH DRIVERS Portfolio Channel Meat Factory Third Party Logistics Diversification Enhancement & Local Content (3PL) • Launched the fresh poultry • Food Service: focusing on • BOD approves SR 157M • Management is working on category in May 2024, with both ends. Upper end; CAPEX for exp
Slide 21: Question & Answer
QUESTION & ANSWER
Slide 22: Thank You
THANK YOU CONTACT : EMAIL : IR@almunajemfoods.com WEBSITE : Investor Relations - Almunajem Foods
Almunajem Foods Company — Q1 2024 Earnings Presentation on 6ix