Afg International Company · TADAWUL:4240
Afg International — Cenomi Retail — FY2025 Earnings Presentation
30 slides from Afg International's earnings presentation, March 2026
Slide 1: Cenomi Retail FY 2025 Earnings Presentation
Cenomi Retail FY 2025 Earnings Presentation March 2026
Slide 2: Disclaimer
Disclaimer This presentation has been prepared solely for use as an Earnings presentation for Cenomi Retail. (the “Company”). By attending or by reading this presentation, you agree to be bound by the following limitations. The information contained in this presentation is for background purposes on
Slide 3: Presenters
Presenters Salim Fakhouri Ahmed Abdelkareem Chief Executive Officer Chief Financial Officer
Slide 4: Agenda
Agenda 1 Highlights & Strategic Review 2 Financial Overview 3 Concluding Remarks 4 Appendix
Slide 5: Highlights & Strategic Review
Highlights & Strategic Review 5
Slide 6: FY 2025 Performance Highlights
FY 2025 Performance Highlights Operational Performance Segmental Performance Financial Performance Store Network KSA Retail Revenue Revenue 742 stores at year-end SAR 3,195.7 mn SAR 5,103.9 mn -15.9% year-on-year +0.3% year-on-year +5.3% year-on-year POS Transactions KSA International Retail Revenue
Slide 7: Continuing our Path to Enhanced Profitability
Continuing our Path to Enhanced Profitability Continuing our path to enhanced potential and profitability 2025 Key Operational & Strategic Highlights Ongoing Transformation 2024- • Fashion: Higher productivity and international expansion, led by strong Inditex performance 2026 • F&B: Portfolio strea
Slide 8: Continued Focus on Optimizing Market, Brand & Store Footprint
Continued Focus on Optimizing Market, Brand & Store Footprint Store network evolution 10 stores opened 882 Q4’24 7 stores closed 809 792 780 742 272 Retail 262 0 stores opened 271 273 Q4’25 240 5 stores closed 249 219 209 204 201 35 stores opened Q4’24 10 stores closed 361 328 312 303 30
Slide 9: Key Execution Focus for the Next Phase
Key Execution Focus for the Next Phase Continuing our path to enhanced potential and profitability Key Strategic Focus in 2026 Store Portfolio 2026+ • Selective openings in high-traffic premium locations (e.g., Jawahret Phase 3: Achieving Optimal Potential Riyadh & Jeddah) • Targeted refurbishments
Slide 10: Financial Overview
7 cenomi ed Financial Overview
Slide 11: FY 2025 Revenue Growth Supported by International Portfolio
FY 2025 Revenue Growth Supported by International Portfolio Revenue (SAR Million) LFL sales growth (%) Q4 2024 Q4 2025 Chg. FY 2024 FY 2O25 Chg. +5.3% 5,104 4,847 Group +9.4% +8.6% -0.8pp. -0.8% +2.9% +3.7pp. +9.7% Saudi +11.3% +4.1% -7.2pp. -1.5% -1.8% -0.3pp. 1,438 1,311 International +11.8% +21.0
Slide 12: Growing Penetration and Strong Growth of Online Channels
Growing Penetration and Strong Growth of Online Channels Online revenue (SAR Million) E-commerce (% of total revenue) +15.1% 417 363 8.7% 8.2% +17.1% 125 8.1% 107 7.5% Q4 24 Q4 25 FY 24 FY 25 Q4 24 Q4 25 FY 24 FY 25 Strong performance from ZARA and other Inditex brands, alongside rising digital
Slide 13: Portfolio Optimization Enabling Solid Revenue per Store
Portfolio Optimization Enabling Solid Revenue per Store Revenue Per Store (Group) Revenue Per Store (KSA) 950 1,486 1,939 2,500 380 2,290 2,899 2,931 3,500 900 1,647 360 1,548 2,250 3,000 2,183 2,000 1,422 850 340 Number of 2,500 Number of 800 320 1,500 750 2,000 300 700 Stores 280 1,500 Stores 1,00
Slide 14: Gross Profit Growth in FY-25 Supported by Strong Sales Performance
Gross Profit Growth in FY-25 Supported by Strong Sales Performance Gross Profit (SAR Million) Margin 14.7% 11.3% 11.7% 11.4% Margin remained relatively stable in FY-25 supported by +2.5% 580 strong sales and cost control 566 In Q4-25, gross profit declined 15.8% YoY as higher -15.8% promotional
Slide 15: Net Profit Mainly Impacted by Non-recurring Expenses
Net Profit Mainly Impacted by Non-recurring Expenses Net Profit (SAR Million) Margin -11.4% -20.2% -4.1% -9.7% -95.3% -151.6% (149) (197) (291) (497) Q4 24 Q4 25 FY 24 FY 25 15
Slide 16: Disciplined Cash Management
Disciplined Cash Management Total Net Debt (SAR Million) SAR Million FY 24 FY 25 Net Debt 1,586.4 2,743.2 2,743 Net debt stood at SAR 2.7 billion at the end of FY 2025, up 72.9% from FY 2024 levels, primarily reflecting the inclusion of the shareholder loan Despite the temporary pressure on leve
Slide 17: Concluding Remarks
Tq cenomil aed Concluding Remarks
Slide 18: Key Takeaways
Key Takeaways Topline Profitability Financial position Strategy Execution Solid revenue growth, Disciplined cost management SAR 1.35bn shareholder loan Portfolio rationalization, Champion driven by increased retail throughout 2025, with and SAR 1.6bn refinancing brand focus, and improved store activ
Slide 19: Appendix
Tq cenomil aed Appendix
Slide 20: Income Statement
Income Statement SAR million Q4-24 Q4-25 Change (+/-) FY-24 FY-25 Change (+/-) Revenue 1,311 1,438 10% 4,847 5,104 5% Cost of revenue -1,117 -1,276 14% -4,281 -4,524 6% Gross profit/(loss) 193 163 -16% 566 580 2% Margin 14.7% 11.3% (3.4pp) 11.7% 11.4% (0.3pp) Selling and distribution expenses -34 -3
Slide 21: Balance Sheet
Balance Sheet SAR million 31-Dec-24 31-Dec-25 Change (+/-) SAR million 31-Dec-24 31-Dec-25 Change (+/-) Assets Equity & Liabilities Property, Plant and Equipment 1,085 981 -10% Share Capital 1,148 1,148 0% Right-of-Use Assets 1,463 1,368 -6% Reserves ( Statutory, Foreign Currency and Fair Value) -61
Slide 22: Cenomi Retail at a Glance
Cenomi Retail at a Glance The leading franchise retailer in Saudi Arabia, and the only listed business of its type in the Middle East 742 stores 301 Saudi retail stores Kazakhstan Georgia c. 306K sqm 240 F&B outlets Armenia Azerbaijan Uzbekistan Jordan 201 Egypt 8 countries International KSA stores
Slide 23: Continuing our Path to Enhanced Potential and Profitability
Continuing our Path to Enhanced Potential and Profitability Continuing our path to enhanced potential and profitability Phase 1: Fix The House Phase 3: Achieving Optimal Potential Rationalize brand and store portfolio Scale existing brands to maximum potential Exit/stabilize non-strategic mark
Slide 24: New Board of Directors to Uphold Governance Excellence
New Board of Directors to Uphold Governance Excellence Chairman of the Board Vice Chairman of the Board Hussein Ali Recognized as a “Global Leader for Tomorrow” by the World Economic Forum. He was the first Gulf businessman selected for the Prince of Ahmed President of Retail Division at Al-Futtaim
Slide 25: KSA Consumer Spending on Rising Trend
KSA Consumer Spending on Rising Trend POS Transactions* - KSA Market (SAR Million) POS Transactions* - KSA Market (SAR Million) +6% +9% 707,151 0% +7% +28% +4% -11% 8% 668,185 70,653 +10% 613,957 Q4-24 Q4-25 65,674 +18% 559,135 473,258 27,800 25,977 21,878 21,834 179,699 180,010 15,620 12,243 2,704
Slide 26: Strategic Sales Measures Drive Revenue Growth and Profitability
Strategic Sales Measures Drive Revenue Growth and Profitability LFL Saudi retail sales growth % LFL International retail sales growth % Saudi retail LFL increased 4.1% in Q4-25, due to higher retail activity stronger trading International LFL grew 21.0% in Q4-25, increased due to an increase in
Slide 27: Revenue Diversification Efforts Ongoing
Revenue Diversification Efforts Ongoing Revenue by division Revenue by channel Revenue by geography 3% 3% 4% 4% 6% 6% 6% 7% 5% 8% 8% 7% 8% 9% 7% 28% 20% 29% 33% 31% 23% 32% 33% 37% 33% 92% 92% 93% 92% 91% 69% 77% 68% 63% 63% 61% 71% 60% 56% 61% Q4 24 Q1 25 Q2 25 Q3 25 Q4'25 Q4 24 Q1 25 Q2 25 Q3 25 Q
Slide 28: Business Model Adapting to Consumer Trends
Business Model Adapting to Consumer Trends Moving forward, Cenomi Retail will need to cater to new consumer trends Scale digital channels Increasing digital / & reinvent role of e-commerce adoption with significant implications for the future of the industry. stores Shift towards Re-mix portfolio to
Slide 29: Investor Relations Contact
Investor Relations Contact Sarah Moussa Director of Investor Relations IR.retail@cenomi.com
Slide 30: Thank You
cenomi THANK YOU