Sustained Infrastructure Holding Company · TADAWUL:2190
Sustained Infrastructure — Sustainable Infrastructure Holding Company — Q2 2024 Earnings Presentation
32 slides from Sustained Infrastructure's earnings presentation, Aug 13, 2024
Slide 1: Q2FY24 Earning Presentation
SUSTAINABLE INFRASTRUCTURE HOLDING COMPANY Q2FY24 EARNING PRESENTATION 13 August 2024 sisco.com.sa sisco.com.sa
Slide 2: Disclaimer
Disclaimer • This presentation is strictly confidential and is being shown to you solely for your information and may not be reproduced, retransmitted, further distributed to any other person or published, in whole or in part, for any purpose. • This presentation has been prepared by Sustained Infra
Slide 3: Table of Content
Table of Content 1. STRATEGY IMPLEMENTATION PROGRESS 04 2. HIGHLIGHTS Q2’2024 07 3. FINANCIAL PERFORMANCE 09 4. PORTFOLIO PERFORMANCE 14 A. PORTFOLIO –CONSOLIDATED ASSETS 15 B. PORTFOLIO –EQUITY ACCOUNTED ASSETS 19 5. SUMMARY 22 6. OUTLOOK 24 7. APPENDIX 26 SISCO | Q2FY24 Earning Presentation | Augu
Slide 4: Strategy Implementation Progress
STRATEGY IMPLEMENTATION PROGRESS
Slide 5: 6X26 Strategy Implementation Key Updates
6X26 Strategy Implementation Key Updates Logistics • Increased bonded zone 1. Fortify national championship ✓ RSGT Bangladesh commenced operations in June 2024 warehouse capacity to 120k m2 • Additional concessions being pursued • Work has commenced on Port 2. Diversify into supporting activities/in
Slide 6: Dry Powder Capital Allocation
DRY POWDER CAPITAL ALLOCATION Allocation Commitment 10.8% Dividends 85.0 Share Buyback 6.2 RSPDI 116.0 Deployed 47.5% GDI Acquisition & Additional capital 100.0** Committed 41.7% Potential New Acquisition 187.0 Non Committed Total committed 494.2 Not yet committed 47.8 Total 542.0 SAR millions % com
Slide 7: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 8: Highlights Q2'FY24
Highlights Q2’FY24 Financial highlights Revenue* Gross Profit EBITDA - Adjusted Net Income - Adjusted SAR 302.5 m 15.7% SAR 156.8 m 15.4% SAR 181.2 m 19.2% SAR 14.5 m -35.2% Q2 2023: SAR 261.4 m Q2 2023: SAR 135.8 m Q2 2023: SAR 152.0 m Q2 2023: SAR 22.4 m Operating highlights Ports and Terminals Lo
Slide 9: Financial Performance
FINANCIAL PERFORMANCE
Slide 10: Income Statement Highlights
Income Statement Highlights SAR millions (adjusted: excludes accounting construction revenue) GROUP REVENUE ADJUSTED GROSS PROFIT & MARGIN 560.1 52.0% 51.6% 51.8% 53.0% 51.7% 500.3 289.7 264.9 302.5 261.4 156.8 257.6 135.8 132.9 Q2'23 Q1'24 Q2'24 YTD 23 YTD 24 Q2'23 Q1'24 Q2'24 YTD 23 YTD 24 • Q2’24
Slide 11: OPEX And Investment Income
OPEX And Investment Income SAR millions OPERATING EXPENSES INCOME FROM EQUITY ACCOUNTED ASSOCIATES FINANCE CHARGES 9.7 (25.3) 3.5 17.7 (21.8) 60.8 72.1 72.6 118.9 144.6 112.7 0.76 0.5 6.5 10.7 99.4 5.7 11.1 F/V Fees Others 3.5 4.6 3.9 6.1 -6.8 59 59.5 34 54.1 53.3 -25.7 (29.6) 18 29 29 85 86 -7.2 43
Slide 12: EBITDA and Net Income
EBITDA and Net Income SAR millions ADJUSTED EBITDA & MARGIN ADJUSTED NET INCOME & MARGIN 58.1% 62.3% 59.9% 59.9% 61.0% 8.6% 5.7% 4.8% 8.4% 5.2% 341.6 41.9 299.7 29.2 22.4 181.2 152.0 160.4 14.6 14.5 Q2'23 Q1'24 Q2'24 YTD 23 YTD 24 Q2'23 Q1'24 Q2'24 YTD 23 YTD 24 • Q2’24 Adjusted EBITDA improved to S
Slide 13: Adjusted Free Cash Flow And Net Debt
Adjusted Free Cash Flow And Net Debt SAR millions ADJUSTED FREE CASH FLOW NET DEBT 155.3 m 296.1 m -98.0% +6.0% 192.0 4.1 1,308.2 -127.5 1,012.1 -135.2 944.0 788.7 YTD 23 YTD 24 YTD 23 YTD 24 Operating CF (Inflows) Adj. FCF Total Debt Cash & Short term deposit Net Debt • Free cash flow for YTD 24 is
Slide 14: Portfolio Performance
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Slide 15: A. Portfolio - Consolidated Assets
A. Portfolio - Consolidated Assets
Slide 16: Ports & Terminal Snapshot Q2'FY24
Ports & Terminal Snapshot | Q2’FY24 SAR millions GROSS PROFIT NET INCOME REVENUE * & MARGIN & MARGIN VOLUME (TEUS ‘000) 210 209 248 404.2 456.6 52.4% 52.4% 53.1% 54.0% 53.5% 8.2% 4.9 % 15.2% 9.4% 10.5% 795 675 725 1,577 1,402 178 136 922 652 69 95 92 244.2 73 218.1 47.9 82 38.0 32 37.8 450 304 45 38
Slide 17: Logistics, Parks & Services Snapshot Q2'FY24
Logistics, Parks & Services Snapshot | Q2’FY24 SAR millions REVENUE GROSS PROFIT & MARGIN NET INCOME & MARGIN * OCCUPANCY (%) 28.8 26.2 30.7 50.6 56.8 52.7% 47.7% 44.6% 48.6% 46.0% 22.3% 16.1% 10.9% 20.6% 13.3% 21.4 25.3 100% 80% 100% 86% 100% 10.9 23.8 26.2 10.4 14.5 10.5 24.6 17.4 7.6 9.8 14 15.7
Slide 18: Water Solution Snapshot Q2'FY24
Water Solution Snapshot |Q2’FY24 SAR millions REVENUE GROSS PROFIT & MARGIN NET INCOME & MARGIN VOLUME, WATER SOLD (MN M3) 22.7 23.1 23.5 45.5 46.6 47.3% 48.4% 48.0% 49.0% 48.2% 20.8% 29.1% 29.2% 25.6% 29.2% 3.9 3.8 3.4 7.8 7.3 5.0 6.2 3.3 3.0 18.0 20.4 2.6 2.9 3.2 22.3 22.5 13.6 11.6 1.7 1.6 1.4 9.
Slide 19: B. Portfolio – Equity Accounted Assets
B. Portfolio – Equity Accounted Assets
Slide 20: TAWZEA Snapshot Q2'FY24
TAWZEA Snapshot | Q2’FY24 SAR millions ADJUSTED GROSS PROFIT & ADJUSTED NET INCOME & SISCO SHARE OF NET INCOME REVENUE MARGIN MARGIN (ADJUSTED) 13.8% 10.8% 11.4% 12.3% 11.1% 7.2% 6.9% 5.6% 6.6% 6.3% 16.2 8.1 258.3 28.8 23.1 12.3 6.2 187.4 8.8 4.4 127.2 131.1 13.8 15.0 7.4 3.7 13.4 7.0 3.5 97.1 Q2'23
Slide 21: SA TALKE Snapshot Q2'FY24
SA TALKE Snapshot | Q2’FY24 SAR millions REVENUE GROSS PROFIT & MARGIN NET INCOME & MARGIN SISCO SHARE OF NET INCOME 25.8% 26.5% 27.8% 26.1% 27.2% 20.0% 19.7% 20.2% 18.9% 19.9% 11.1 154.9 152.1 10.1 6.5 5.7 78.0 74.3 77.8 40.4 41.3 30.3 4.6 29.2 20.1 19.7 21.6 15.6 14.6 15.7 Q2'23 Q1'24 Q2'24 FY'22
Slide 22: Summary
SUMMARY
Slide 23: Q2 2024: Performance
Q2 2024: Performance Q2’24 witnessed strong year- Q2’24 gross profit increased Q2’24 adjusted net profit Progressing on the on-year revenue and EBITDA by 15.4% compared to the decreased by 35.2% implementation of the growth, with revenue increasing same quarter last year, compared to Q2’23, due to 6
Slide 24: Outlook
OUTLOOK an, a (aa =
Slide 25: Management Outlook
Management Outlook PORTS LOGISTICS WATER M&A RSGT remains focused on We anticipate expanding its Improvement of gross profit We are presently in advanced business expansion in Saudi footprint in Jeddah as well as margins in Water segment, negotiations with several Arabia, as well as prioritizing ven
Slide 26: Appendix
APPENDIX
Slide 27: Strategic Objectives
Strategic Objectives Double group revenue in the next 5 years Revenue of SAR 2 billion Target ROIC of more 1 through organic and inorganic growth while by 2026 than 12% maintaining consistently strong margins. Achieve a diversified portfolio by investing Future revenue and net income growth to be dr
Slide 28: Revenue And Gross Profit Composition
Revenue And Gross Profit Composition Ports Logistics Water SAR millions Revenue Composition Adjusted Gross Profit Composition 135.8 132.9 156.8 7.8% 10.1% 8.7% 11.3 11.0% 10.7 11.2 13.7 SAR 302.5 M 15.2 12.5 131.8 80.3% 109.9 109.2 82.1% Inner | Q2’23 Outer | Q2’24 Q2'23 Q1'24 Q2'24 Group Revenue Co
Slide 29: Income Statement
Income Statement SAR millions Q2 2023 Q2 2024 Variance Operational Revenue 261.3 302.5 15.8% Direct Costs (125.5) (145.6) 16.0% Gross Profit 135.8 156.9 15.5% Operating expenses (54.1) (59.4) 9.8% Operating Profit 81.7 97.5 19.3% Investment Income 9.7 3.5 -22.7% Finance Charges (60.8) (72.6) 19.4% O
Slide 30: Balance Sheet
Balance Sheet SAR millions YE 2023 YTD 2024 Fixed Assets 4,284.6 4,337.2 Investments 283.6 271.5 Other Long-Term Assets 6.0 6.0 Current Assets 1,415.7 1,358.8 Total Assets 5,989.9 6,013.5 Borrowings 1,492.4 1,333.6 Long Term Liabilities 1,553.0 1,616.2 Current Liabilities (excl. borrowings) 629.8 57
Slide 31: Cash Flow Statement
Cash Flow Statement SAR millions YTD 2023 YTD 2024 Operating cash flow before working capital 304.4 332.9 Net working capital movement (41.8) (231.1) Cash generated from operating activities 262.5 101.8 Finance charges, Zakat & income tax, EOSB (49.0) (82.1) Net cash flow from operating activities 2
Slide 32: Thank You!
THANK YOU! sisco.com.sa sisco.com.sa SISCO | Q2FY23 Earning Presentation | August 2023 | Page SISCO | Q2FY23 Earning Presentation | August 2023 | Page
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