National Agricultural Development Co. · TADAWUL:6010
National Agricultural Development — Investor Presentation (2022)
22 slides from National Agricultural Development's investor presentation, 2022
Slide 1: UNE TRI
UNE TRI \’
Slide 2: Disclaimer
] Disclaimer The content in this presentation may change at any time, its correctness cannot be guaranteed, and it might not include all relevant information about the Company. We do not guarantee the accuracy or completeness of any information given herein and do not accept liability or responsibil
Slide 3: Presenting Team
] Presenting Team ea Dr.Solaiman A.AlTwaijri Hassan Aqrougq Chief Executive Officer Vice President - Finance Private and Confidential
Slide 4: Agenda
] Agenda Outlook Private and Confidential
Slide 5: Private and Confidential
Private and Confidential
Slide 6: NADEC was established in 1981 and has a rich history
] NADEC was established in 1981 and has a rich history Dairy Business Growth * Production of 1+ Mn liters daily » Launch of 2"4 factory for dairy products First expansion of cheese production ape = 2009 | NADEC Establishment and Projects Launch . . production » NADEC establishment with a SAR 400 Mn
Slide 7: Today, NADEC is a leading dairy, juice and agri player
] Today, NADEC is a leading dairy, juice and agri player ea nadec Core Products | Coverage 084% © 9% ° 7% _ KSA a : © 40,000 ° >85% 2 eae bal ) : Retail Outlets Households © 1,000+ © 3,000+ Dairy Juice Agri i Fleet Frontline Force Recognition EXPORTS ©. #2 Most Chosen Food Brand in KSA (Kantar, 2022
Slide 8: NADEC aims to more than double its revenues and become a SAR 6.0 Bn company
Overall, NADEC aims to more than double its revenues and rch fa) a) become a SAR 6.0 Bn company nadec SAR2.OBn a SAR 6.0en See lala Dairy & Juice, Agriculture Total Food Company Private and Confidential 8
Slide 9: Moving forward, NADEC will transform into a total food company
] Moving forward, NADEC will transform into a total food company fd YG) TARGET Total Food Company Total Food Company 01 02 03 nadec Expand production, distribution and portfolio to solidify NADEC’s position in Dairy and Juice and deliver sustainable profitable growth Work with local farmers to provi
Slide 10: Nadec Market Share (in %)
Nadec Market Share (in %) cfow nadec Volume Share 22.1% 20.4% 16.8% 17.5% 13.3% 13.7% 13.9% 13.9% 12.0% 10.6% 9.8% 10.2% 7.6% | I 8.4% Laban Fresh Milk UHT Milk Yoghurt Cheese Fresh Juice Olive Oil mFY22 mFY21 Private and Confidential 10
Slide 11: Financial Performance
Financial Performance Private and Confidential 1
Slide 12: Financial Highlights
] Financial Highlights Revenue by Segments 2,272 Mn KSA +18.6% 68, Mi ccc WM Exports 2,694 Mn BB Agriculture nadec Gross Profit +28.1% Gross Profit Margin FY22 808 FY22 30.0% FY21 631 FY21 27.8% A A Operating Profit (NA) Operating Profit Margin FY22 164 FY22 6.1% FY21 -65 FY21 -2.8% Aa A Net Income
Slide 13: Balance Sheet
] Balance Sheet FY21 FY22 Total Assets: SAR 3,890 Mn Total Assets: SAR 3,822 Mn 71% 1% Assets Equity & Liabilities Assets Equity & Liabilities Other-Current Assets I Cash & Cash Equivalents HH Non-Current Assets Ml Inventories ll Receivables & Prepayments Hi Equity Mi Non-Current Liabilities [Curren
Slide 14: Net Income Bridge
Net Income Bridge i) SAR Million +380 Mn 108 95 29 331 | 17 66 [| (171) (285) Net Income Net Pricing Volume & Mix Commodity cost Agric Net Zakat and Finance cost Others* Net Income FY21 increase Margin FY22 ‘Others includes the one-off items i.e, Write off/ Impairment losses on Property, Plant and E
Slide 15: Working Capital
] Working Capital nadec SAR Million 26% 19% 16% 13% 10% 373 290 265 2018 2019 2020 2021 2022 ——% of Revenue 2018 2019 2020 2021 2022 Days of Inventory outstanding (DIO) 154 145 124 103 100 Days of Sales outstanding (DSO) 76 71 70 91 58 Days of Payable outstanding (DPO) (122) (147) (140) (163) (131)
Slide 16: Net Debt and EBITDA/EBIT Margins Trend
Net Debt and EBITDA/ EBIT Margins Trend ea SAR Million 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 mmmNet Debt ——NetDebt/ Equity ——Net Debt/ EBITDA mmm Revenue ——EBITDAMargin ——EBIT Margin Private and Confidential 16
Slide 17: Debt Maturity Profile - Average debt tenure at 2.5 Years
] Debt Maturity Profile - Average debt tenure at 2.5 Years By) nadec SAR Million 98 | = Murabaha = ADF Loan FY22 1,428, 94% 588 526 284 ni Upto 1 Yr 1-2 Yrs 2-5 Yrs >5 Yrs « Murabaha m Banks = Govt = ADF Loan Private and Confidential
Slide 18: Appendix
Appendix Private and Confidential 18
Slide 19: Income Statement
] Income Statement SAR million Revenue from Operations 2,694 2,272 Cost of Good Sold 1,886 1,641 Gross Profit 808 631 Selling General & Admin Exp. 632 637 Other Operating Expenses” 30 207 EBITDA 375 50 Depreciation 228 264 Operating Profit 147 (213) Finance Cost 49 32 Share of Profit in JV 3 0 PBT 1
Slide 20: Summarized Balance Sheet
] Summarized Balance Sheet SAR million efo nadec Balance Sheet Dec 31, 2022 Dec 31, 2021 Non-Current Assets 2,707 2,745 Current Assets 1,115 1,145 Total Assets 3,822 3,890 Non-Current Liabilities 1,090 1,364 Current Liabilities 1,437 1,330 2,527 2,694 Shareholders’ Equity 1,295 1,196 Total Sharehold
Slide 21: Cash Flow Statement
] Cash Flow Statement (dey) nadec SAR million Net Profit/ (Loss) 95 -285 Adjustment for Non-Cash and Non-operating Items 382 610 Cash Operating Profit 477 325 Changes in working capital (1) (41) Zakat Paid (1) (1) Employee Benefits Paid -23 (28) Cash Flow from Operating Activities 452 256 Acquisitio
Slide 22: 38. ee 8/8 @’.
38. 3 ee 5 8/8 @’.
National Agricultural Development Co. (NADEC) — Investor Presentation (2022) on 6ix