Mezzan Holding Company Kscc · KSE:MEZZAN
Mezzan Holding Company Kscc — Mezzan Holding Company — FY2020 Earnings Presentation
17 slides from Mezzan Holding Company Kscc's earnings presentation, Mar 22, 2021
Slide 1: FY 2020 Earnings Presentation
FY 2020 Earnings Presentation March 22, 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 FY 2020 Highlights Historical Performance Financial Review Q&A 3
Slide 4: Mezzan Today: Tailwinds
Mezzan Today: Tailwinds ➜ ➜ ➜ Strong top line performance in Food M&D, FMCG and Healthcare ➜ Enhanced operating margins ➜ Enhanced profitability ➜ ➜ ➜➜ ➜ ➜ 4
Slide 5: Mezzan Today: Headwinds
Mezzan Today: Headwinds ➜ ➜ ➜ Supply chain disruptions for some portfolio items ➜ Select market segments impacted by ongoing school closures in some ➜ countries Interruptions of business in select areas due to lockdowns and curfews ➜ ➜ One-off Covid-related costs, including staff relocation costs ➜➜
Slide 6: Mezzan Today: Earnings Highlights
Mezzan Today: Earnings Highlights KD Millions 4Q20 4Q19 FY20 FY19 EBITDA (2016-2020) % Diff % Diff KD Millions Q1 Q2 Q3 Q4 Revenue 52.0 52.7 -1.2% 246.4 222.5 +10.8% Gross Pro t 12.3 10.0 +22.2% 59.3 48.7 +21.7% 24.8 25.4 6.0 21.0 18.5 4.0 EBITDA 4.0 0.8 +378.1% 25.4 18.5 +36.9% 4.9 16.4 0.8 1.8 5.6
Slide 7: Mezzan Today: Historical Performance
Mezzan Today: Historical Performance KD Millions (a) Revenue Gross Profit Net Profit Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 246.4 59.3 17.1 222.5 53.8 53.4 207.4 204.5 207.5 48.7 52.0 12.3 4.0 12.9 44.0 46.0 52.7 13.7 12.9 10.0 10.9 51.2 46.9 0.7 8.9 3.1 2.8 5.6 60.1 15.2 7.6 47.7 49.8 52.0 54.8 12.1 1
Slide 8: Financial Review
Financial Review 8
Slide 9: FY2020 Revenue: Contribution by Business Line
FY2020 Revenue: Contribution by Business Line FOOD REVENUE +3.2% NON-FOOD REVENUE +30.4% Vs.FY19 Vs.FY19 67.2% Share of of total Group 32.8% Share of of total Group Revenue Revenue 9
Slide 10: FY2020 Revenue: Growth by Business Division
FY2020 Revenue: Growth by Business Division Vs.FY19 Manufacturing FOOD &Distribution 46.6% of Group revenue +6.8% +3.2% Catering 13.6% of Group revenue -5.9% +10.8% Services 7.0% of Group revenue -0.8% NON-FOOD FMCG & +30.4% Healthcare 31.0% of Group revenue +34.1% Industrials 1.8% of Group revenue
Slide 11: FY2020 Revenue: Contribution and Growth by Country
FY2020 Revenue: Contribution and Growth by Country FY20 Top-line Contribution Vs.FY19 Kuwait UAE Qatar KSA Jordan Afghanistan Iraq 73.1% 10.9% 8.1% 2.0% 2.6% 2.3% 1.0% +16.7% +2.1% -12.1% +7.0% +14.4% -16.7% +17.7% 11
Slide 12: FY2020: P&L
FY2020: P&L KD Millions 4Q20 4Q19 % Diff FY20 FY19 % Diff Revenue 52.0 52.7 -1.2% 246.4 222.5 +10.8% Gross Margin 12.3 10.0 +22.2% 59.3 48.7 +21.7% GPM% 23.5% 19.0% 24.1% 21.9% SG&A -9.8 -9.5 +3.6% -42.2 -36.1 +17.0% Others -1.3 -3.4 -60.9% -3.9 -6.1 -35.5% Underlying pro t before tax 1.1 -2.9 +137.
Slide 13: FY2020: Cashflow
FY2020: CASHFLOW KD Millions FY2020 FY2019 Diff Operating Cash Flow before WC changes 30.7 22.3 8.4 Working Capital 6.6 -11.4 18.0 Operating Cash Flow 37.3 10.9 26.4 CAPEX / Other investing activities -6.0 -28.8 22.9 Cash Flow before nancing 31.4 -17.9 49.2 Dividends / Financing / Other -10.4 -10.4
Slide 14: Balance Sheet as of Dec 31, 2020
Balance Sheet as of Dec 31, 2020 KD Millions Total Assets Equity Net Debt to Capitalization KD Millions KD Millions % Growth from previous period driven by acquisition and 117.7 39.6% growth 115.1 113.5 31.3% 111.7 29.2% 260.2 110.5 252.9 22.2% 23.0% 217.9 211.7 210.9 2016 2017 2018 2019 2020 2016 2
Slide 15: Net Debt as of Dec 31, 2020
Net Debt as of Dec 31, 2020 KD Millions As of 31 December 2020, Net Debt stood at c.KWD 53.5mn for a Net Debt / EBITDA(a) of 2.1x. Down by c. KWD 20.9 mn from Dec 2019 levels (Net Debt/EBOTDA was 4.0x) July 2019 - Medtronics and Aug. 2019 : KSPICO KRFAT - c.KWD8 mn Acquisition - c.KWD20mn 75.4 74.4
Slide 16: Q&A
Q&A 16
Slide 17: Investor Relations Contact
Investor Relations Contact Omar Foud Investor Relations Manager omar.fouda@mezzan.com 17 a
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