Almarai Company · TADAWUL:2280
Almarai — Q1 2022 Earnings Presentation
32 slides from Almarai's earnings presentation, Apr 1, 2022
Slide 1: Earnings Presentation - Q1 2022
— Uncholl Almarai Almarai® Company Earnings Presentation - Q1 2022
Slide 2: Disclaimer
= Disclaimer Information contained in this presentation is subjectto change without further notice, its accuracy is not guaranteed, and it may not contain all material information concerning the company. We do not make any representation regarding, and assume no responsibility or liability for, the
Slide 3: Slide 3
Slide 4: Market Dynamics
Market Dynamics
Slide 5: NPD's Q1 2022
NPD’s Q1 2022 ~ Altpraiso Vieng Mb Earnings Presentation - Q1 2022
Slide 6: Market share by category
Dec-20 Dec-21 Feb-22 Feb-22 Category Almarai Value | Almarai Value | Almarai Value Almarai Share % Share % Share % Rank Laban 64 64 64 1 Fresh Milk 65 66 66 1 UHT Milk 20 21 22 2 Food 37 34 35 1 Juice 42 47 46 1 Bakery 53 55 55 1 Poultry (Fresh Chicken) 34 31 32 1 Earnings Presentation - Q1 2022
Slide 7: Business Performance
Business Performance Earnings Presentation Q1 2022
Slide 8: 5,000 0% % 4,500 % 5 00 4,000 70 000 % 3 70 4
4 70 6 00 5,000 10 000 0% 5 50 90 000 % 4 20 4,500 80 000 % 5 00 4,000 70 000 % 3 70 4 50 60 000 % 3,500 50 000 % 4 00 3 20 3,000 40 000 % 3 50 30 000 % 2,500 2 70 20 000 % 3 00 2,000 10 000 % 1,500 0% 2 50 2 20 4 00 1 40 0 0% 6 00 0% 4 ,00 0 0% 3 50 1 20 0 0% 5 00 -1 00 0 0% 3 ,50 0 -5 00 0 % 3 00
Slide 9: Q1 2022 Sales
2022 Sales SAR Million 3,645 Q1 2021 Reported Growth 24% 6% es as Like-forlike growth 17% Volume Price Mix Currency Others Quarterly Phasing / Ramadan Q1 2022 YoY %/ (YoY%) Earnings Presentation - Q1 2022
Slide 10: Q1 2022 Revenue Growth
YoY %/ (YoY%) Q1 2022 Revenue Growth (SARMillion) KSA Other Others. Total Gcc Revenue 2,983 883 637 4,503 % of Revenue 66% 20% 14% 100% Growth 551 171 136 858 Growth % 23% 24% 27% 24% 8% Earnings Presentation - Q1 2022 10
Slide 11: Robust double-digit growth in all countries emerging from pandemic
bust double-digit growth in all countries emerging from pandem Q1 2022 Total Revenue - SAR 4,503 Million Q1 2022 Total Growth - SAR 858 Million or 24% Geography Contribution Current Performance Historical Trend Jordan Bahran Others Growth % Growth Q12019 Q12020 Q12021 Q12022 Oman 146 93 147 16s 2396
Slide 12: Driven by growth across all product categories
riven by growth across all product categories... Q1 2022 Total Revenue - SAR 4,503 Million Q1 2022 Total Growth - SAR 858 Million or 24% Category Contribution Current Performance Historical Trend Fruit Juice - Other Sales 345 156 Fresh Dairy Growth % Growth Q1 2019 Q12020 Q1 2021 Q12022 1,435 Long L
Slide 13: ..and all channels with Food service still gaining momentum
..and all channels with Food service still gaining momentum Q1 2022 Total Revenue - SAR 4,503 Million Q1 2022 Total Growth - SAR 858 Million or 24% Category Contribution Current Performance Historical Trend Other / Exports 177 Growth Q1 2019 Q12020 Q1 2021 Q12022 Food Service 449 (0%) 4% 1% 23% 2\1
Slide 14: Geography, category and channel mix
Geography fen Others Q12019 om 2% 56 Kuwait Egypt Ea UAE 10% Q1 2022 ind Oman 3% Category Other Sales 2% Fresh Dairy Long Life 9 34% Dairy 10% Bakery 1396 Poultry 15% os Fresh Dairy 32% Long Life Dairy 11% Bakery 13% Poultry 15% 18% Channel Other/ Exports Food Service 4% 11% Treditional Trade 56% Ot
Slide 15: Financial Performance
YQZz— clholl = Almarai Financial Performance Earnings Presentation Q1 2022
Slide 16: Financial Performance - Q1 2022
Financial Performance - Q1 2022 Q1 2022 vs. Q1 2021 Revenue - Return to Growth... * Quarterly growth was one of the strongest growth witnessed in the last 5 year. The growth was visible across allproducts, countries and channels. 2A% * Volume growth was driven by Ramadan phasing, reversion of educat
Slide 17: Net Income Bridge - Q1 2022
Net Income Bridge - Q1 2022 298 =| ~— (310) 75 . 386 i 420 i a | —_ — c i H a ; : Economical & External ; Market Tren i arket Trend H Factor Higher Net Pricing Commodity Higher operational Funding, Q1 2021 volume & cost increase cost due to Zakat, Taxes Q1 2022 Mix Ramadan Phasing Others Earnings Pr
Slide 18: Results by Segment - Q1 2022
Results by Segment - Q1 2022 Dairy &Juice * Top line growth was strong across the board * However cost pressures were even stronger driven by three dimension: * Higher feed expenses due to corn and soya cost increase * Higher dairy commodities and * Higher transportation expenses Poultry 70% | * Cos
Slide 19: Strategic Management of Working Capital continues
Strategic Management of Working Capital continues SAR Million 2,689 2,668 2016 2017 2018 2019 2020 2021 Q1 2022 mWorking Capital --Working Capital as a % of Revenue cloll Earnings Presentation - Q1 2022
Slide 20: CAPEX in line with vision 2030 to boost food security and local content
CAPEX in line with vision 2030 to boost food security and local content... Capital Investment 2016 to 2022 5 20% z 14% : 11% 9% 9% 6% 2,844 1,923 1,650 Les] 2016 2017 2018 2019 2020 2021 TTM Q1 2022 mNet Cash Used in Investing Activities -e- Investment as a % of Revenue * Capex cash spend continues
Slide 21: Free Cash Flow
Free Cash Flow instron Free Cash Flow = SAR 2.6B OCF =SAR4.5B | AB 02 (1.9) | 5 —— | gaa (1.1) 2 [| (1.0) fra) [| i [| . & i poco | Total Facility of | ! Total Facility | 66" | | 6.0* End of Q1 2021 Operating Cash Flow Working Capital H Capex i Net Payment tor Dividend Others End of Q1 2022 Liquidit
Slide 22: Free Cash Flow is impacted in current quarter due to recent acquisitions
Free Cash Flow is impacted in current quarter due to recent acquisitions Free Cash Flow 2016 to 2022 SAR Million 2016 2017 2018 2019 2020 2021 TTM Q1 2022 mFree Cash Flow -e-Free Cash Flow as a % of Revenue acholl Earnings Presentation - Q1 2022
Slide 23: Net Debt and EBITDA / EBIT Margins
Net Debt and EBITDA / EBIT Margins tre Net Debt Trend EBITDA and EBIT Margins 28% 17% 14,351 2019 2020 2021 TIM Q1 2022 2019 2020 2021 TT Q1 2022 miNet Debt(SARM) Net Debt/Equity Ratio Net Debt/ EBITDA mRevenue (SAR M) EBITDA % to Revenue EBIT % to Revenue ne J Se * Net of Time Deposit Gaclyoll Earn
Slide 24: Debt Maturity Profile highlights average debt tenure at 3.0 Years
Debt Maturity Profile highlights average debt tenure at 3.0 Years SAR Billion Debt Maturity by Age and Type 14 (27) 107) 4.8) aa) 1.9 0.3 0.3 | as 1.0 . 0.4 16% Upto1 Yr 1-2Yrs 2-3 Yrs 3-4Yrs 45 Yrs >5Yrs @Banks mGovt/SemiGovt Inst. m Islamic Bonds @ Banks @ Govt / Semi Govt Inst. m Islamic Bonds Ea
Slide 25: Cash Dividend Since Listing
Cash Dividend Since Listing 60% ae | 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 SAR Million ma Cash Dividends Payout Ratio * 2021 Cash Dividendis subject to AGM Approval 25 Earnings Presentation - Q1 2022
Slide 26: Q&A Session
Almarai
Slide 27: Appendix
Almara
Slide 28: Revenue by Geography and by Category - Q1 2022
Revenue by Geography and by Category - Q 2022 Revenue By Geography SAR Million Revenue By Category Bahrain 93 Others Fruit Juice Other Sales i] i] 147 H 345 156 1] Jordan 2% I 896 396 146 | 3% 1 Long Life Dairy, | 512 1 11% I Fresh Dairy Kuwait ! 1,435 213 1 Bakery 32% 5% 1571 Q12021 QI 2022 I Q1202
Slide 29: Profit & Loss Statement - Q1 2022
Profit & Loss Statement - Q1 2022 SAR Million 1st Quarter 2022 2021 Change Revenue 4,503 100.0% 3,645 100.0% 23.6% Cost of sales (3,172) (70.4%) (2,410) (66.1%) (31.6%) Gross Profit 1,332 29.6% 1,235 33.9% 7.8% Selling and Distribution Exoenses (647) (14.4%) (604) (16.6%) (7.2%) General and Administ
Slide 30: Results by Segment - Q1 2022
Results by Segment - Q1 2022 ee SAR Million Dairy & Juice Bakery Poultry Others Consolidated YTD Q1 2022 Revenue - Q1 2022 3,116 571 659 156 4,503 Profit Attrioutable to Shareholders -Q1 2022 307 68 60 (15) 420 Percent to Revenue of Profit Attributable to Shareholders - Q1 2022 9.9% 11.9% 9.2% na 9.
Slide 31: Key Share Data
Key Share Data Key Statistics for Almarai (31 March 2022) ans Year to date total shareholder's return since listing ers am Share Price (SAR) 51.20 25% _ Current P/E Ratio (ttm) 32.04 ™ ; 19% 13% Earnings Per Share (SAR) (ttm) 1.60 on Market Cap (SAR Million) 51,200 Shares Outstanding (Million) 1,000
Slide 32: Thank You
Uncholl THANK YOU Almarai A wars and Foo ings Presentation — Brand Finance W Voilube " NielsentQ KANTAR