Alamar Foods Co. · TADAWUL:6014
Alamar Foods — Q4 2025 Earnings Presentation
22 slides from Alamar Foods's earnings presentation, Apr 2, 2026
Slide 1: Earnings Presentation Q4 2025
Earnings Presentation Q4 2025
Slide 2: Agenda for today's Earnings Call
Agenda for today’s Earnings Call • Q4 2025 Key messages • Alamar at a Glance • Financial Performance • Q&A 2 April 2026 2
Slide 3: Q4 2025 Key messages
Earnings Presentation – 2 April 2026 Q4 2025 Key messages
Slide 4: Strategy execution in 2025: a year of disciplined growth and strategic progress
Strategy execution in 2025: a year of disciplined growth and strategic progress FY 2025 saw meaningful progress across all pillars of Alamar's profitable growth strategy Network expansion Operational Enhancing the Strategic 1 & organic growth 2 excellence 3 customer experience 4 transactions Solid s
Slide 5: Strong YoY sales growth in FY 2025 with an expanded and optimized store network
Strong YoY sales growth in FY 2025 with an expanded and optimized store network FY 2025 saw YoY sales growth across all Supported by an expanded and optimized With improved capital efficiency markets and brands store network • Lower capex per sqm achieved through scale, • KSA (+1.7%): resilient perf
Slide 6: Improved profitability through disciplined cost management and investment in our people
Improved profitability through disciplined cost management and investment in our people Pricing, mix and channel optimization Disciplined cost control and visibility Investment in people strengthened in- improved store-level economics improved network efficiency store execution and service consisten
Slide 7: Enhanced customer experience through product innovation, digital improvements and brand engagement
Enhanced customer experience through product innovation, digital improvements and brand engagement Product innovation and quality boosted Digital capabilities enhanced customer Targeted engagement and community menu appeal & traction experience activations strengthened brand relevance • Expanded loc
Slide 8: Executed two strategic transactions that complemented our portfolio and strengthened our platform
Executed two strategic transactions that complemented our portfolio and strengthened our platform Domino's stores acquisition in Makkah & Taif Acquisition of Five Guys • Alamar acquired 29 Domino’s stores in the cities of • Alamar signed a Share Purchase Agreement to acquire Makkah and Taif from a t
Slide 9: Starting 2026 on a strong footing
Starting 2026 on a strong footing… Sustained sales momentum in Q1 Revenue performance during Ramadan • Strong January trading across markets and brands 2024 = 100 Ramadan revenue in 2026 was ca. 19% above the 2025 level, or 12% • Good performance during Ramadan, delivering double-digit YoY growth ex
Slide 10: …with clear strategic priorities ahead
…with clear strategic priorities ahead FY 2026 outlook1 Strategic priorities for 2026 Disciplined expansion and network upgrade Revenue growth, YoY 10-14% 1 Open ca. 30 net new stores; focus on quality locations and attractive unit constant FX economics, alongside a structured remodeling and relocat
Slide 11: Alamar at a Glance
Earnings Presentation – 2 April 2026 Alamar at a Glance
Slide 12: Leading QSR player in MENA region, backed by strong brands…
Leading QSR player in MENA region, backed by strong brands… Number of restaurants by brand 92% 6% 627 639 668 72 601 62 65 56 Domino’s as % of Q4 Dunkin as % of 2025 revenue1 Q4 2025 revenue1 2022 2023 2024 2025 2022 2023 2024 2025 Number of restaurants by region 595 Corporate | 740 Total Network 63
Slide 13: …with advanced digital capabilities, capex-light expansion model and solid cash generation
…with advanced digital capabilities, capex-light expansion model and solid cash generation Alamar is leveraging omni-channel ordering and multiple service … and is well positioned to … supported by strong digital methods to address evolving consumer preferences… benefit from major trends in and deli
Slide 14: Financial Performance
Earnings Presentation – 2 April 2026 Financial Performance
Slide 15: Q4 2025 financial highlights
Q4 2025 financial highlights 261mn 83mn 35mn 17mn SAR SAR SAR SAR Revenues Gross Profit Adj. EBITDA Net Profit to Shareholders +14% YOY +15% YOY +19% YOY -19% YOY 17mn 44mn 34mn 36mn SAR SAR SAR SAR Adj. Net Profit To Shareholders OCF FCF Net Cash -22% YOY +67% YOY +64% YOY -62% YOY
Slide 16: Total store count increased to 740 restaurants as of December 2025
Total store count increased to 740 restaurants as of December 2025, with 36 net openings during the year Group Store Count by Region Q4 2025 Group Store Count by Brand +41 -22 (+12 excl. Makkah) +7 +10 (+7 excl. Makkah) Brand Q4 24 Q4 25 YoY Change 328 287 167 145 Domino’s 639 668 +29 125 132 125 13
Slide 17: Accelerated revenue growth in Q4 2025, driven by strong offering and acquired stores
Accelerated revenue growth in Q4 2025, driven by a strong offering and consolidation of acquired stores Revenues (SAR mn) Q4 2025 +14% 261.4 Share of Q4 2025 229.2 236.7 236.7 revenue 211.1 in stable currency 88% Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Total Revenue Movement by Geography YoY (SAR mn) Q4 2025
Slide 18: Highest quarterly EBITDA in three years, with continued margin expansion
Highest quarterly EBITDA in three years, with continued margin expansion Adj. EBITDA Margin (%) Q4 2025 +0.6pp 12.8% 12.5% 12.6% 13.3% 6.3% Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Operating Profit (EBIT) (SAR mn) Q4 2025 Profitability trends • Adjusted EBITDA increased 19% year-on-year to SAR 34.9 million, th
Slide 19: Net income supported by improving underlying profitability
Net income supported by improving underlying profitability Net Profit to Shareholders (SAR mn) Q4 2025 EBITDA reconciliation (SAR mn) Q4 2025 -19% 21.6 Net Income to shareholders 17.5 15.7 17.5 15.3 Minority interest (0.5) Finance cost, net 3.9 (0.9) Zakat and income tax 2.4 Depreciation & amortizat
Slide 20: Strong balance sheet supports consistent dividends, as top-line momentum strengthens cash flow
Strong balance sheet supports consistent dividends, as top-line momentum strengthens cash flow FY 2025 Cash flow performance and balance sheet Cash & Cash Equivalents Movement YTD (SAR mn) • Net operating cash flow1 rose 67% year-on-year to SAR 43.6 million in Q4 2025, 130.0 primarily reflecting imp
Slide 21: Monthly sales performance shows very encouraging start to 26
Monthly sales performance shows very encouraging start to 2026 Average daily sales - Group (January 2023 = 100%) Ramadan Summer break Ramadan Summer break Ramadan Summer break Ramadan 2023 2023 2024 2024 2025 2025 2026 105 108 107 106 103 100 99 98 99 97 98 92 94 93 89 95 94 91 89 86 91 86 82 90 83
Slide 22: Questions & Answers
Questions & Answers ZA