Slide 1: Earnings Call Third Quarter 2024
EARNINGS CALL THIRD QUARTER 2024 November 5th, 2024
Slide 2: Disclaimer
DISCLAIMER This presentation may contain financial or business projections regarding recent acquisitions, their financial or business impact, management expectations and objectives regarding such acquisitions and current management expectations on the operating and financial performance of The Compa
Slide 3: Topics
TOPICS HIGHLIGHTS 1 CONSOLIDATED OPERATING RESULTS 2 OPERATING RESULTS BY BUSINESS 3 LIQUIDITY AND BALANCE SHEET 4 OUR VIEW FOR 2024 5
Slide 4: Highlights
HIGHLIGHTS
Slide 5: Acquisition of Refinería del Espino
HIGHLIGHTS Acquisition of Refinería del Espino Leading player in edible oils, industrial and bakery palm-based shortenings, Grupo Romero and laundry soap categories in the eastern region of Peru → B2B: Regional platform with world-class clients, delivering customized Palmas del Espino Refinería del
Slide 6: Acquisition of Refinería del Espino: Strong Financial Profile
HIGHLIGHTS Acquisition of Refinería del Espino STRONG FINANCIAL PROFILE LEVERAGED ON A SOLID MARKET POSITION AND DIVERSIFIED PORTFOLIO VOLUME SOLD MAIN CATEGORIES AND PORTION OF TOTAL SALES2 Thousand metric tons 215 182 191 193 165 164 Industrial oils 21.9% Edible oils Food service 17.8% 2019 2020 2
Slide 7: Sale agreement of our Crushing business unit
HIGHLIGHTS Sale agreement of our Crushing business unit SPA signed with Consumer Goods Bolivia Successful completion ASAI Capital business spin-off1, now Industria of the transaction and THIS TRANSACTION IS Holdings Ltd. y Comercio Aliconsumo S.A. formal closing FULLY ALIGNED WITH Jul Oct Nov OUR ST
Slide 8: Consolidated Operating Results
CONSOLIDATED OPERATING RESULTS
Slide 9: Adjusted Gross Profit Continues to Deliver Solid Growth
CONSOLIDATED OPERATING RESULTS Consolidated Adjusted GROSS PROFIT – Q3 ‘24 vs. Q3 ‘23 PERFORMANCE SUMMARY – ADJUSTED GROSS PROFIT1,2,3 PEN million Includes 18 thousand MT from Refinería del Espino ADJUSTED GROSS 814 531 552 777 2,294 2,189 PROFIT CONTINUES TO +23% DELIVER SOLID GROWTH 2,215 MAINLY D
Slide 10: Adjusted EBITDA Increased YoY
CONSOLIDATED OPERATING RESULTS Consolidated Adjusted EBITDA – Q3 ‘24 vs. Q3 ‘23 PERFORMANCE SUMMARY – ADJUSTED EBITDA1,2,3 PEN million ADJUSTED EBITDA +38% INCREASED YoY 1,254 EXPLAINED BY HIGHER GROSS PROFIT MAINLY +45% PEN 11.5MM from IN OUR CONSUMER +19% Refinería del Espino 910 BUSINESSES 37 3 8
Slide 11: Operating Results by Business
OPERATING RESULTS BY BUSINESS
Slide 12: Consumer Goods Peru, International Businesses & B2B: Q3 Performance
OPERATING RESULTS BY BUSINESS Consumer Goods Peru, International Businesses & B2B: Q3 Performance1 ADJ. GROSS PROFIT & MARGIN ADJ. EBITDA & MARGIN PEN million PEN million PEN 4.6MM from +27% PEN 2.2MM from +37% Refinería del Espino Refinería del Espino +12% 1,109 631 873 +13% CONSUMER 347 388 39.2%
Slide 13: Aquafeed & Crushing: Q3 Performance
OPERATING RESULTS BY BUSINESS Aquafeed & Crushing: Q3 Performance1 ADJ. GROSS PROFIT & MARGIN ADJ. EBITDA & MARGIN USD million USD million -28% -39% 97 66 +3% 70 +9% 40 AQUAFEED2 29 30 13.4% 12.1% 19 21 9.1% 12.8% 14.4% 8.4% 10.0% 6.9% Q3 ’23 Q3 ’24 YTD ’23 YTD ’24 Q3 ’23 Q3 ’24 YTD ’23 YTD ’24 +3.5
Slide 14: Liquidity and Balance Sheet
LIQUIDITY AND BALANCE SHEET
Slide 15: Leverage Reduction Despite Acquisition and Share Buybacks
LIQUIDITY AND BALANCE SHEET Leverage INDEBTEDNESS EVOLUTION1 4.2 DESPITE THE ACQUISITION 3.8 3.1 2.7 3.0 2.5 OF REFINERIA DEL ESPINO 4,912 2.7 2.6 AND SHARE BUYBACKS, 2.3 2.2 WE ACHIEVED A 3,914 3,930 SIGNIFICANT 1.7x 3,588 3,304 REDUCTION, SUPPORTED BY A PEN 1.0B DECREASE Q3 ’23 Q4 ’23 Q1 ’24 Q2 ’2
Slide 16: Our View Going Forward
OUR VIEW GOING FORWARD
Slide 17: Our View for 2024 Full-Year Results: Guidance
OUR VIEW FOR 2024 FULL-YEAR RESULTS Guidance REVENUE ADJ. EBITDA CAPEX LEVERAGE EX. CRUSHING EX. CRUSHING EX. CRUSHING 2.2x-2.4x MID-TO-HIGH +20%-25% USD ~81 MM NET DEBT / ADJ. EBITDA SINGLE DIGIT DECREASE EX. AQUAFEED1 AND CRUSHING USD ~52 MM (1) Production facility expansion project in Ecuador 17
Slide 18: Earnings Call Third Quarter 2024
EARNINGS CALL THIRD QUARTER 2024 November 5th, 2024
Slide 19: Reported and Adjusted Results Summary
APPENDIX Reported and Adjusted Results Summary Q3 '23 Q3 '24 YTD '23 YTD '24 Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted CGP 329.1 347.1 387.5 387.5 854.5 873.4 1,108.9 1,109.3 PEN CGI 69.0 70.5 100.8 100.8 168.3 169.9 260.0 260.0 GROSS PEN B2B 137.8 138.2 151.5 151.5 349
Slide 20: Slide 20