National Agricultural Development Co. · TADAWUL:6010
National Agricultural Development — Q1 2025 Earnings Presentation
23 slides from National Agricultural Development's earnings presentation, Mar 31, 2025
Slide 1: Earnings Presentation for the Period Ended 31 March 2025
EARNINGS PRESENTATION For the Period Ended 31 March 2025
Slide 2: Key Updates; Question & Answers
* Key Updates * Question & Answers
Slide 3: Key Updates - Nadec
Key Updates - Nadec 2 EARNINGS - 31 March 2025
Slide 4: Key Updates
Key Updates aoa00d Agreement with the ADF Seem Appointment of KPMG Saemem Long-Term Incentive Program (LTIP} NADEC announces that its subsidiary, Al-Ra’i Shareholders approved the appointment of Approval of the company's purchase Mar _ ) 13s signed a financing agreement with the Apr KPMG as the exte
Slide 5: Key Updates — Business Operational Update (Core)
Key Updates — Business Operational Update (Core) (= Si * Advanced automation and technology deployed to reduce animal stress, lower labor intensity, and optimize space utilization. * Resulted in increased raw milk productivity and improved operational throughput. CM cccssviis | * Introduced a unifor
Slide 6: Key Updates — Business Operational Update (Core) — Cont.
Key Updates — Business Operational Update (Core) — Cont. Al-Aziziah Distribution @i ¢ Anew multi vertical distribution center equipped with advanced technology to enhance logistics and streamline operations. « Storage Capacity of 10,000 Tons. “ Warehouse Land Area 20,000 m2.
Slide 7: Key Updates — D&B
Key Updates — D&B Q1 2025 New Product’s Launched
Slide 8: Key Updates — Protein Sector
Key Updates — Protein Sector : ay « Operations expected to commence in Q4 2025 * Development of a fully integrated value chain to ensure high standards in quality and food safety. 8) 7 Hilton Joint Venture « MOU signed and joint business planning underway to introduce a value-added meat eens product
Slide 9: Key Updates — Agricultural Sector
Key Updates — Agricultural Sector ay NSPC (National Seed Production Company) Vil « Greenhouses are under construction « Phase of Multiplication from Generation-0 to Generation-1 to follow. &) / Greenhouses Master Plan « NADEC is investing in its own greenhouse facilities in Hail for fruit and vegeta
Slide 10: Financial Performance Q1 2025
Financial Performance Q1 2025 9 EARNINGS - 31 March 2025,
Slide 11: Financial Highlights
Financial Highlights HI vss Agriculture I Protein ( \ Revenue by Segments Gross Profit 40.9% Gross Profit Margin Q1'25 326 Q1'25 32.2% A+17.9% Q1'24 323 Q1'24 37.6% A Vv Operating Profit 42.1% Operating Profit Margin Q1 2024 Q1 2025 Q1'25 99.3 Q1'25 9.8% Q1'24 97.3 Q1'24 11.3% A Vv Net Income 42.1%
Slide 12: Financial Highlights — By Channel
Financial Highlights — By Channel Revenue by Channel Channel Growth vs. LY rowth% Modern Trade 22 0 7% W Traditional Trade 146 A 5% A = Modern Trade Foods Service 3 A 18% A Qi 2025 = Traditional Trade = Foods Service Agriculture 95 A 647% A = Agri = Others Others 4. A 54% A Total 153 A 18% A
Slide 13: Net Income Bridge
Net Income Bridge +2Mn 24 -10 a 401 : 7 | || 103 Net Income D8B - D8B- DaB - Protein Agri Operational cost Funding and others Arabian Mills Net Income Qt 24 Vol, mix impact Price Impact cost impact Q1 25 a el
Slide 14: Balance Sheet & Ratios — Mar 2025
Balance Sheet & Ratios — 31 Mar 2025 “ , { D\ Qi ‘24 Qi’25 a ROE Total Assets: SAR 5,483 Mn Total Assets: SAR 6,162 Mn Q1'25 9.4% Q1'25 6.7% Q1'24 11.0% Vv Q1'24 74% Vv Debt to Equity Current Ratio Q1'25 0.08 Q1'25 2.3x Q1'24 0.12 A Q1'24 2.0x A Receivables Trade Payables Days Days Q1'25 79 Q1'25 62
Slide 15: Working Capital
Working Capital ll Net Working Capital SAR Mn ——% of Revenue ——CAPEX as % of revenue 19% 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 YTD March 2025 Days of Inventory outstanding (DIO) 145 124 101 100 102 129 70 Days of Sales outstanding (DSO) 108 103 100 qt 83 75 79 Days of Paya
Slide 16: Cashflow Statement
Cashflow Statement +543 Mn 252 127 1,908 a 8 TY aaa? 0 aia -86 1,665 Bank Balance Net cash Purchase of asets iret rom Term Depost Investments (Repayment) Gash used BankcBalance Dec '24* from oper. incl. biological, net proceeds, net of loans/ in other fin. Q1'25 of proceeds new loans activities
Slide 17: Debt and EBITDA/ EBIT Margins Trend
Debt and EBITDA/ EBIT Margins Trend 101% 0.62x u 5% 77% 2018 = 20192020202 2022 © 2023 «= 2024. «YTD Mar. 25 mmmDebt ——Debt/ Equity ——Debt/ EBITDA 2018 2019 2020 2021 2022 2023 2024 T™Q1 2025 mm™m™ Revenue ——EBITDA Margin ——EBIT Margin WALA
Slide 18: Q&A
Q&A 17 EARNINGS - 31 March 2025,
Slide 19: Financial Statements
Financial Statements 18 EARNINGS - 31 March 2025,
Slide 20: Financial Highlights
Financial Highlights Revenue from Operations 1,011 858 Cost of Good Sold (686) (535) Gross Profit 326 323 Selling General & Admin Exp. (210) (213) Other Operating Expenses* (16) (13) Operating Profit 99 97 Profit on Sale of Investment © = Finance Income/Cost, net 16 12 Share of Profit in JV 2 9 PBT
Slide 21: Financial Highlights
Financial Highlights Balance Sheet Mar 31, 2025 Dec, 31 202. Non-Current Assets 3,077 2,819 Current Assets 3,085 2,885 Total Assets 6,162 5,704 Non-Current Liabilities 333 162 Current Liabilities 1,428 1,245 Total Liabilities 1,761 1,407 Shareholders’ Equity 4,400 4,297 Total Shareholders’ Equity an
Slide 22: Financial Highlights
Financial Highlights Cash Flow Statement Mar 31, 2025 Mar 31, 2024 Net Profit before Zakat 115 118 Adjustment for Non-Cash and Non-operating Items 96 77 Cash Operating Profit 211 194 Changes in working capital 45 14 Zakat Paid - - Employee Benefits Paid (7) (8) Cash Flow from Operating Activities 25
Slide 23: Thank You!
National Agricultural Development Co. (NADEC) — Q1 2025 Earnings Presentation on 6ix