Mezzan Holding Company Kscc · KSE:MEZZAN

Mezzan Holding Company Kscc — Mezzan Holding Company — FY2021 Earnings Presentation

17 slides from Mezzan Holding Company Kscc's earnings presentation, Mar 24, 2022

  1. Slide 1: FY 2021 Earnings Presentation

    FY 2021 Earnings Presentation March 24, 2022 1

  2. Slide 2: Disclaimer

    Disclaimer This confidential 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 U

  3. Slide 3: Agenda

    Agenda Tailwinds & Headwinds Q4 2021& FY 2021 Highlights Results Financial Review Q&A 3

  4. Slide 4: Mezzan Today: Tailwinds

    Mezzan Today: Tailwinds ➜ ➜ ➜ Acquisition of new distribution rights for brands within Saudi and UAE. ➜ Stable revenue base despite challenging and complex conditions. ➜ Tight working capital management. ➜ ➜ ➜➜ ➜ ➜ 4

  5. Slide 5: Mezzan Today: Headwinds

    ➜ ➜ Mezzan Today: Headwinds ➜➜ Rising global inflation is impacting the region as prices of commodities and transportation surge. ➜ Upsets faced in Qatar’s Arab Cup event, such as staff visas delay, low attendance rate vs. forecast, and menu prices discounts. ➜ Lower profit margin pressured by disco

  6. Slide 6: Mezzan Today: Earnings Highlights

    Mezzan Today: Earnings Highlights KD Millions Q4 EBITDA (2018-2021) Q4’21 Q4’20 % Diff FY’21 FY’20 % Diff KD Millions Revenue 53.9 52.0 +3.60% 245.1 246.4 -0.5% 4.0 EBITDA 2.2 4.0 -44.3% 21.8 25.4 -14.1% Net Income -1.1 1.0 -212.6% 9.6 12.6 -23.7% 2.2 1.8 Net Profit -1.1 0.7 -266.7% 8.4 10.9 -22.8%

  7. Slide 7: Mezzan Today: Q4 Historical Performance

    Mezzan Today: Q4 Historical Performance KD Millions Q4 Revenue Q4 Gross Profit Q4 Net Profit 52.7 53.9 0.7 52.0 12.3 12.5 46.0 -0.4 -3.5 -1.1 10.0 8.9 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 7

  8. Slide 8: Financial Review

    Financial Review 8

  9. Slide 9: FY'21 Revenue: Contribution by Business Line

    FY’21 Revenue: Contribution by Business Line FOOD REVENUE -0.7% NON-FOOD REVENUE -0.2% Vs.FY’20 Vs.FY’20 67.0% Share of of total Group 33.0% Share of of total Group Revenue Revenue 9

  10. Slide 10: FY'21 Revenue: Growth by Business Division

    FY’21 Revenue: Growth by Business Division Vs.YTD’20 Manufacturing FOOD &Distribution 49.3% of Group revenue +5.2% -0.7% Catering 12.5% of Group revenue -8.7% -0.5% Services 5.3% of Group revenue -24.5% NON-FOOD FMCG & -0.2% Healthcare 30.6% of Group revenue -1.8% Industrials 2.3% of Group revenue +

  11. Slide 11: FY'21 Revenue: Contribution and Growth by Country

    FY’21 Revenue: Contribution and Growth by Country Top-line Contribution Vs.YTD’20 Kuwait UAE Qatar KSA Jordan Afghanistan Iraq 72.4% 12.9% 8.2% 2.2% 3.0% 0.3% 1.0% -1.5% +17.3% +0.3% +9.5% +14.8% -85% +2.1% 11

  12. Slide 12: FY'21: P&L

    FY’21: P&L KD Millions Q4’21 Q4’20 % Diff FY’21 FY’20 % Diff Revenue 53.9 52.0 3.6% 245.1 246.4 -0.5% Gross Margin 12.5 12.3 1.8% 53.0 59.3 -10.7% GM % 23.1% 23.5% 21.6% 24.1% SG&A / Other -14.4 -9.8 46.2% -41.8 -42.2 1.0% Operating Profit -1.9 2.4 -178.0% 11.2 17.1 -34.7% Other 0.6 -1.3 -147.4% -1.1

  13. Slide 13: FY'21: Cashflow

    FY’21: CASHFLOW KD Millions Q4’21 Q4’20 Diff FY’21 FY’20 Diff Operating Cashflow before WC changes 1.8 5.9 -4.1 23.0 30.7 -7.7 Working Capital / Other 3.0 0.5 2.6 -0.4 6.6 -7.0 Operating Cashflow 4.9 6.4 -1.6 22.6 37.3 -14.7 Capital / Other -2.6 -1.5 -1.1 -10.8 -6.0 -4.8 Cash flow before Financing 2.3

  14. Slide 14: Balance Sheet as of Dec 31, 2021

    Balance Sheet as of Dec 31, 2021 KD Millions Total Assets Equity Net Debt Net Debt to Capitalization KD Millions KD Millions KD Millions % 260.2 267.5 120.0 74.4 41.0% 252.9 117.7 217.9 113.5 110.5 31.3% 30.6% 53.5 53.0 29.2% 45.5 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019

  15. Slide 15: A note on debt levels

    A note on debt levels KD Millions Net Debt stood at c. KWD 53 mn : Down by c. KWD 0.5 mn from Dec 2020 levels. Net Debt / EBITDA of 2.43x (Yearly) down by 0.32x vs Dec 2020. 4 4 3.8 3.1 2.9 2.8 2.7 2.6 2.4 2.4 2.2 2.3 2.1 2.1 1.9 1.7 34.5 45.9 45.8 45.5 45.9 53.1 75.4 74.4 73.0 57.6 56.7 53.5 49.5 5

  16. Slide 16: Q&A

    Q&A 16

  17. Slide 17: Investor Relations Contact

    Investor Relations Contact Omar Fouda Investor Relations Manager omar.fouda@mezzan.com 17

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