Qala For Financial Investments · EGX:CCAP
Qala For Financial Investments — Qalaa Holdings — Q3 2021 Earnings Presentation
38 slides from Qala For Financial Investments's earnings presentation, December 2021
Slide 1: Qalaa Holdings Investor Presentation
Qalaa Holdings Investor Presentation AFRICAN LEADER IN INFRASTRUCTURE & INDUSTRY December 2021 Strictly Private and Confidential All Figures as of 3Q21 Unless Otherwise Stated
Slide 2: Contents
Contents I Overview 3-8 Industries & Companies 9-28 II III Highlights 29-36 2
Slide 3: Overview
Overview AFRICAN LEADER IN INFRASTRUCTURE & INDUSTRY
Slide 4: Qalaa Holdings at a Glance
Qalaa Holdings at a Glance Consolidated Income Statement Highlights 3Q21 Revenues of EGP 12,796.5 mn vs. EGP 8,760.1 mn in 3Q20 Leading investment company in energy and infrastructure, established in 2004 3Q21 EBITDA* of EGP 1,205.5 mn vs. EGP 182.1 mn in 3Q20 3Q21 Net Loss after Minority Interest o
Slide 5: Qalaa Holdings Ownership Structure and Share Information
Qalaa Holdings Ownership Structure and Share Information Shareholder Structure (as at 30 September 2021) EIIC, 5.5% Olayan, 9.1% CCAP.CA on the EGX Dubai Holding, 3.8% CIB, 2.9% Number of Shares 1,820,000,000 Of which preferred shares** 401,738,649 CCP, 23.5%* Of which common shares 1,418,261,351 Pa
Slide 6: African Leader in Infrastructure and Industry
African Leader in Infrastructure and Industry Qalaa Holdings’ operations span a diverse geographic footprint, where it is helping build businesses in the core industries that will define the region’s future. Leadership in Core Industries Across MEA Deep Regional Experienced and Knowledge, Strong Ded
Slide 7: Divestments Update
Divestments Update Qalaa divested over 20 companies over the past 7 years that allowed the company to deleverage and devote maximum focus to high-growth businesses in sectors that are vital to the development of our region. Divestments Concluded ▪ Sale of ESACO (Cement Construction) (1Q19) ▪ Sale of
Slide 8: Core Industries at a Glance
Core Industries at a Glance Packaging & Transportation Energy Cement Mining Agrifoods Printing & Logistics 82% 8% 5% 2% 2% 1% of Consolidated Revenues in 3Q21 of Consolidated Revenues in 3Q21 of Consolidated Revenues in 3Q21 of Consolidated Revenues in 3Q21 of Consolidated Revenues in 3Q21 of Consol
Slide 9: Industries & Companies
Industries AFRICAN LEADER IN & Companies INFRASTRUCTURE & INDUSTRY
Slide 10: Overview of Subsidiaries
Overview of Subsidiaries Industry Slide Number Energy 11 Cement 16 Packaging & 18 Printing Agrifoods Mining 21 20 Transportation & Agrifoods 23 Logistics Transportation & 25 Logistics 10
Slide 11: Energy
Energy
Slide 12: Energy Overview
Energy Overview The Energy Industry is Supported by Strong Macro Energy at Qalaa Holdings Fundamentals • To keep pace with projected economic growth and provide The region’s energy-intensive much-needed energy capacity in the region, Qalaa Holdings has Region-wide, trends are towards industries are
Slide 13: ERC
ERC Company Overview Reached Starting Total debt of 25-year Among the Designed to The project will financial close January USD 2.9 bn supply & off- largest-ever produce 4.7 reduce Egypt’s The Egyptian in June 2012 2020, ERC and total take non-recourse MTPA of present-day Refining Company is has been
Slide 14: Egyptian Refining Company
Egyptian Refining Company ERC Inauguration – 27 September 2020: ERC’s official inauguration by President Abdel Fattah El Sisi on the 27th of September 2020, is further testament to the project’s strategic importance for Egypt’s economy and energy security as it provides a local alternative to import
Slide 15: TAQA Arabia
TAQA Arabia Company Overview TAQA Arabia Financials 4 1.8 TAQA Arabia Consolidated BCM Revenues | EGP mn Concessions TAQA Arabia is Egypt’s largest private Distributed covering 7 governorates in 3Q21 sector energy distribution company. The TAQA company’s three arms cover: gas EPC* & 55.6% Gas distri
Slide 16: Cement
Slide 17: Cement
Cement ASEC Cement* Construction Technical Management Zahana Cement Al Takamol Cement ARESCO ASEC Automation ASEC Engineering ASENPRO (Algeria) 55% 35% 100% 100% 100% 100% ASEC Cement currently has two international ARESCO is a turnkey contractor specializing in ASEC Engineering provides cement plan
Slide 18: Packaging & Printing
Packaging & da Printing L_I
Slide 19: Packaging and Printing
Packaging and Printing Building Capacity in Packaging and Printing Through its subsidiary National Printing Company, Qalaa Holdings has invested in the printing and packaging sector with investments of over USD 60 million to date. Company Overview National Printing Company has four subsidiaries: Sho
Slide 20: Mining
Mining
Slide 21: ASCOM
ASCOM Company Overview Mining Sector Footprint From quarrying for the cement industry to the manufacture of world-class technical calcium carbonate and environmentally 54.1% friendly building materials, Qalaa Holdings’ approach in the owned by QH mining sector focuses on investing in the entire valu
Slide 22: ASCOM (cont'd)
ASCOM (cont’d) ASCOM Financials ASCOM Revenues | EGP mn ACCM revenues of USD 9.0 mn 245.9 227.0 in 3Q21, a 29% y-o-y increase 3Q20 3Q21 ASCOM EBITDA* | EGP mn GlassRock revenues of USD 2.4 mn 3.0 mn tons sold by 89.8k tons sold by Egypt’s Quarrying 32.2 ACCM in 3Q21, Business in 3Q21, 23.3 in 3Q21,
Slide 23: Agrifoods
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Slide 24: Gozour
Gozour Increasing Our Milk Volumes Company Overview Qalaa Holdings’ investments in agrifoods aim to overcome challenges facing the agricultural and food production sector 54.9% in Egypt and the region. Through its subsidiary, Gozour, the owned* by QH Group operates Dina Farms and ICDP (Dina Farms’ f
Slide 25: Transportation & Logistics
Transportation & Logistics
Slide 26: Nile Logistics
Nile Logistics Transporting Goods Efficiently and Economically Company Overview Footprint Alexandria Port Said Arish Damietta Dekheila East Port Said 67.6% owned* by QH Suez Petroleum Dock Nuweiba Adabiya Nile Logistics is a leading logistics service Sokhna provider in Egypt, and South Sudan, using
Slide 27: Nile Logistics (cont'd)
Nile Logistics (cont’d) Stevedoring The company also runs stevedoring (loading/offloading) activities in seaports The company offers services in three locations: Stevedoring services The company handles around Dekheila, Alex around 1.2 mn tons of Port and Adabiya Suez coal/pet coke per year Port Sto
Slide 28: Nile Logistics (cont'd)
Nile Logistics (cont’d) 100k tons warehouse storing capacity (with an estimated 6-7 rounds per annum) Grain storage warehouse – Nubareya GSW interior – Nubareya Grain storage warehouse – Nubareya 28
Slide 29: Highlights
Highlights AFRICAN LEADER IN INFRASTRUCTURE & INDUSTRY
Slide 30: EBITDA Progression
EBITDA Progression RECURRING EBITDA Consolidated Recurring EBITDA Progression Chart* (EGP mn) PROGRESSION (EGP mn) Consolidated EBITDA Consolidated EBITDA ex- ERC 1,205 2,046.0 1,232.0 1,205.5 722 750 182.1 577 303 328 360 357 3Q20 3Q21 9M20 9M21 329 290 320 253 521 454 329 290 303 328 320 328 90 18
Slide 31: Debt Progression
Debt Progression Debt Progression Chart (EGP bn) As at 30 September 2021 45.00 43.60 40.00 November 2016: EGP floatation 35.00 ERC’s debt stands at c.EGP 43.6 billion (equivalent of c.USD 2.7 30.00 billion), contributing c.69% of the total debt 25.00 20.00 16.15 QH’s SPVs debt related to financing 1
Slide 32: Financial Highlights – 3Q21 Consolidated Income Statement
Financial Highlights – 3Q21 Consolidated Income Statement 32
Slide 33: Consolidated Income Statement for the three months ending 30 Sept. 2021
Financial Highlights – Consolidated Income Statement for the three months ending 30 Sept. 2021 33
Slide 34: Consolidated Balance Sheet as at 30 September 2021
Financial Highlights – Consolidated Balance Sheet as at 30 September 2021 34
Slide 35: Effective Ownership & Paid-in Capital Highlights
Effective Ownership & Paid-in Capital Highlights Paid-in Capital Qalaa Holdings Ownership Stakes (EGP bn) 55.6% TAQA 2005 0.002 2006 0.9 68.1% Tawazon 2007 1.7 13.1% ERC 2008 2.8 69.3% 2009 3.3 ASEC Holding 2010 3.3 54.9% 2011 4.4 Gozour 67.6% 2012 4.4 Nile Logistics 2013 4.4 54.1% 2014* 8.0 ASCOM 2
Slide 36: Board of Directors
Board of Directors Executive Board Members Non-Executive Board Members (Representing CCP) Ahmed Heikal Magdy El Desouky Hisham El-Khazindar Philip Blair Dundas (Independent) Karim Sadek Mona Makram Ebdeid (Representing CCP) Moataz Farouk Dina Sherif (Independent) 36
Slide 37: Important Notice
Important Notice Important Notice/Disclaimer This investor presentation (the “Presentation”) is being furnished on a confidential basis to a limited number of sophisticated investors and shareholders for informational and discussion purposes only and does not constitute an offer to sell or a solicit
Slide 38: Thank You
Thank You Amr El-Kadi Nora Ghannam Head of Investor Relations Investor Relations Manager Tel: +20 (0) 2 2791-4440 Tel: +20 (0) 2 2791 4440 Dir: +20 (0) 2 2791-4462 Dir: +20 (0) 2 2791-4458 Fax: +20 (0) 2 2791-4448 Fax: +20 (0) 2 2791-4448 E-mail: akadi@qalaaholdings.com E-mail: nghannam@qalaaholding