Slide 1: Earnings Presentation Second Quarter 2024
Earnings Presentation Second Quarter 2024 July 2024
Slide 2: Highlights: Dividends' payment
HIGHLIGHTS Dividends´ payment • On March 2024, the Shareholders´ Meeting approved a cash dividend of S/260.3 million. • This amount was defined by the upper limit of the dividend policy (60% of free disposal profits without considering the appraisal surplus related to the sale of a facility). • On O
Slide 3: Ferreycorp Profit Ratios
INTRODUCTION Ferreycorp Profit Ratios 20.3% 18.6% 18.8% 18.5% 16.7% 17.3% 17.2% 17.3% 16.8% 16.7% 15.9% 16.3% 14.2% 14.0% 14.4% 14.1% 12.8% 13.4% 12.2% 12.0% 12.2% 11.2% 11.3% 10.9% 10.7% 10.7% 9.9% 9.4% 9.1% 8.7% 9.4% 8.3% 8.6% 8.4% 8.4% 9.4% 7.3% 7.7% 7.6% 7.6% 7.7% 5.4% Mar-21 Jun-21 Sep-21 Dec-2
Slide 4: Introduction: GDP and Investment
INTRODUCTION GDP (Var %) Public & Private Investment (Var %) 2.7% 2.7% 3.0% -0.6% 2022 2023 2Q24 2024(E) 12.2% 5.1% 7.5% 1.4% 2.5% Mining and Construction GDP evolution -0.5% (Var %) -0.5% -7.1% 2022 2023 2Q24 2024(E) Private Invest. Public Invest. 8.4% 4.0% 3.4% 2.8% 2.6% -2.4% -2.3% Private invest
Slide 5: Financial Highlights
FINANCIAL HIGHLIGHTS Million Soles (S/ mm) SALES +6% 6,593 6,995 MARGINS +15% 26.9% 27.1% 3,702 25.8% 25.9% 3,206 16.5% 15.2% 13.6% 13.5% 2022 2023 1S'23 1S'24 12.7% 11.7% 10.0% 9.6% OPERATING PROFIT 2022 2023 1S'23 1S'24 +6% Gross margin Operating Margin Ebitda Margin 700 659 +40% Adj. Gross Margin
Slide 6: Financial Highlights - EBITDA
FINANCIAL HIGHLIGHTS - EBITDA Million Soles (S/ mm) EBITDA +30% +5% 564 434 +6% 273 275 289 Q4'23 Q1'24 Q2'24 1S'23 1S'24 6
Slide 7: Evolution of Exchange Rates
EVOLUTION OF EXCHANGE RATES 7
Slide 8: Financial Highlights – Net Income
FINANCIAL HIGHLIGHTS – NET INCOME Million Soles (S/ mm) Net Income Adjusted Net Income 259 227 226 215 1st Semester 1st Semester 2023 2024 2023 2024 8
Slide 9: Sales by Business Lines
SALES BY BUSINESS LINES Million Soles (S/ mm) CAT MINING EQUIPMENT CAT MACHINES AND ENGINES -19% -35% +19% -1% 143 +91% +16% 498 115 84 373 96 326 322 323 44 Q3'23 Q4'23 Q1'24 Q2'23 Q2'24 Q3'23 Q4'23 Q1'24 Q2'23 Q2'24 SPARE PARTS AND SERVICES RENTAL AND USED +6% +17% +33% +8% 1,075 -13% +20% 1,007 1
Slide 10: Financial Highlights
Adjj.Gross Margin 2Q 2023 = 26.5%, 2Q 2024 = 27.2% FINANCIAL HIGHLIGHTS Adj. Operating Margin 2Q 2023 = 10.5%; 2Q 2024 = 11.7% Million Soles (S/ mm) Adj. Ebitda Margin 2Q 2023 = 14.4% ; 2Q 2024 = 15.2% SALES MARGINS -9% 26.7% 27.5% 26.2% 25.5% +3% +14% 24.5% 2,003 1,785 1,830 1,872 1,646 15.0% 15.4%
Slide 11: Financial Highlights – Net Income
FINANCIAL HIGHLIGHTS – NET INCOME Million Soles (S/ mm) NET INCOME 2Q24 0 4 73 85 106 110 4 0 2Q'23 Δ Share of profit Δ D&A Δ Gain(loss) to Δ Financial exp Δ Income tax Δ EBITDA 2Q'24 of associated FX Positive variations Negative variations
Slide 12: Financial Highlights – Net Income
FINANCIAL HIGHLIGHTS – NET INCOME Million Soles (S/ mm) Net Income Adjusted Net Income 134 121 125 115 111 111 106 104 1st Quarter 2nd Quarter 1st Quarter 2nd Quarter 2023 2024 2023 2024 12
Slide 13: Cash Generation and Liability Management
CASH GENERATION AND LIABILITY MANAGEMENT In Millions Dollars (US$ mm) Cash Balance Debt Maturity and Profile (In Millions US$) (In Millions US$) 103 Non-Current 205 189 33% 86 80 74 Current 59 63 62 59 67% 54 55 53 50 53 49 42 73 33 6 9 Dec'20 Mar'21 Jun'21 Sept'21 Dic'21 Mar'22 Jun'22 Sept'22 Dic'2
Slide 14: Total Assets and Cash Cycle
TOTAL ASSETS AND CASH CYCLE Million Soles (S/ mm) STATE OF FINANCIAL POSITION CASH CYCLE +9% 210 203 198 198 193 7,000 5,892 229 6,418 3 200 176 270 33 163 163 161 165 169 187 193 170 6 189 158 154 158 160 6,000 180 153 155 157 151 2.5 173 147 143 159 165 152 150 156 156 154156 5,000 2 149 155 149 1
Slide 15: Capex
CAPEX In millions US$ 95 32 3 39 1 62 43 2 50 26* Investment 0 49 1 34 12 13 36 7 7 36 8 53 20 37 9 15 11 10 8 -14 -14 -20 -28 -38 -65 Disinvestment 2019 2020 2021 2022 2023 2Q'24 • Investment in intangible assets reached US$ 0.9 million dollars as of June 2023 * Disclaimer: Capital Expenditures on
Slide 16: Ferreycorp
Ferreycorp CAT UNIMAQ Cat Cat car car) SOLTRAK ¥ TREX ¥ MOTORED ¥ roams #| FARGO