Mezzan Holding Company Kscc · KSE:MEZZAN
Mezzan Holding Company Kscc — Mezzan Holding Company — H1 2021 Earnings Presentation
17 slides from Mezzan Holding Company Kscc's earnings presentation, Aug 11, 2021
Slide 1: H1 2021 Earnings Presentation
H1 2021 Earnings Presentation August 11, 2021 1
Slide 2: Disclaimer
Disclaimer This con dential document is provided for informational purposes only. THE INFORMATION SET OUT IN THIS PRESENTATION AND PROVIDED IN THE DISCUSSION SUBSEQUENT THERETO DOES NOT CONSTITUTE AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL SECURITIES IN ANY JURISDICTION. IT IS SOLELY FOR US
Slide 3: Agenda
Agenda Tailwinds & Headwinds H1 2021 Highlights Historical Performance Financial Review Q&A 3
Slide 4: Mezzan Today: Tailwinds
Mezzan Today: Tailwinds ➜ ➜ ➜ Markets returning to normal consumption patterns as channels reopen. ➜ UAE continuing to see good top line growth. ➜ Qatar consumer business continuing to progress. ➜ ➜ KSA performing well in a difficult environment. Qatar catering business starting to make key wins as
Slide 5: Mezzan Today: Headwinds
Mezzan Today: Headwinds ➜ ➜ ➜ Noticeable increase in raw materials prices. ➜ Catering performance reflects the emergency meals in 2020 not being repeated. ➜ Annualizing against Food segment, as the base year was inflated by one- ➜ ➜ off Covid-19 related purchases during Q2 2020. ➜➜ ➜ Food Services s
Slide 6: Mezzan Today: Earnings Highlights
Mezzan Today: Earnings Highlights KD Millions H1 EBITDA (2018-2021) Q2’21 Q2’20 % Diff H1’21 H1’20 % Diff KD Millions Revenue 60.7 59.9 +1.4% 134.0 134.3 -0.2% Q2 Gross Pro t 13.3 15.3 -12.9% 29.5 31.9 -7.4% EBITDA 5.7 7.2 -20.9% 14.3 15.8 -9% 7.2 Net Income 2.8 3.9 -27.9% 8.3 9.1 -7.4% 5.7 4.9 4.0
Slide 7: Mezzan Today: Historical Performance
Mezzan Today: Historical Performance KD Millions Q2 Revenue Q2 Gross Profit Q2 Net Profit 60.7 15.3 3.5 59.9 13.3 50.6 52.4 11.8 11.3 2.2 2.3 1.8 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 7
Slide 8: Financial Review
Financial Review 8
Slide 9: H1'21 Revenue: Contribution by Business Line
H1’21 Revenue: Contribution by Business Line FOOD REVENUE -5.2% NON-FOOD REVENUE +10.0% Vs.H1’20 Vs.H1’20 63.6% Share of of total Group 36.4% Share of of total Group Revenue Revenue 9
Slide 10: H1'21 Revenue: Growth by Business Division
H1’21 Revenue: Growth by Business Division Vs.H1’20 Manufacturing FOOD &Distribution 47.2% of Group revenue +2.3% -5.2% Catering 11.3% of Group revenue -20.7% -0.2% Services 5.1% of Group revenue -23.1% NON-FOOD FMCG & +10.0% Healthcare 34.3% of Group revenue +8.8% Industrials 2% of Group revenue +3
Slide 11: H1'21 Revenue: Contribution and Growth by Country
H1’21 Revenue: Contribution and Growth by Country Top-line Contribution Vs.H1’20 Kuwait UAE Qatar KSA Jordan Afghanistan Iraq 75.6% 10.9% 7.2% 2% 2.7% 0.6% 1% +0.02% +19.6% -10.1% +9.9% +22.6% -72.5% -16.1% 11
Slide 12: H1'21: P&L
H1’21: P&L KD Millions Q2’21 Q2’20 % Di H1’21 H1’20 % Di Revenue 60.7 59.9 1.4% 134.0 134.3 -0.2% Gross Margin 13.3 15.3 -12.9% 29.5 31.9 -7.4% GM % 21.9% 25.5% 22.0% 23.7% SG&A / Other -9.8 -10.3 5.5% -19.5 -20.6 5.0% Operating Pro t 3.5 4.9 -28.5% 10.0 11.3 -11.9% Other -0.6 -0.9 28.1% -1.3 -1.9 3
Slide 13: H1'21: Cashflow
H1’21: Cashflow KD Millions H1’21 H1’20 Di Operating Cash ow before WC changes 15.4 18.1 -2.7 Working Capital and Others -2.3 4.1 -6.5 Operating Cash ow 13.1 22.2 -9.1 Capital / Other -2.9 -2.4 -0.5 Cash ow before Financing 10.2 19.8 -9.6 Dividends & Purchase of treasury shares -6.0 0.0 -6.0 Financi
Slide 14: Balance Sheet as of June 30, 2021
Balance Sheet as of June 30, 2021 KD Millions Total Assets Equity Net Debt Net Debt to Capitalization KD Millions KD Millions KD Millions % 57.6 262.7 256.7 119.1 120.3 53.1 51.0 113.7 112.7 32.0% 32.6% 220.2 221.9 45.9 29.8% 28.8% 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 201
Slide 15: A note on debt levels
A note on debt levels KD Millions Mar-18 Jun-18 Sept-18 Dec-18 Mar-19 Jun-19 Sept-19 Dec-19 Mar-20 Jun-20 Sept-20 Dec-20 Mar-21 June-21 Net debt Net Debt/EBITDA(LTM) 15
Slide 16: 6A
6A
Slide 17: Investor Relations Contact
Investor Relations Contact Investor Relations Manager omar.fouda@mezzan.com a
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